Spreading Too Thin

Tikkit growth in both revenue and market share is incredible in the event space. However, as we grew, we began to dive into event market spaces outside of our core audience, college students. Events such as Art Gallery Openings, High School Proms, Marathons, etc. Because our platform can handle so many varying types of events, our sales team started going in a million directions. This continued until last week when I realized how much of a problem this has caused. We started spreading out our human resources over far too broad of an area, subtracting significantly from our target audience of the college event space. I decided that we need to focus the majority of our workforce and energy on the college space and focus far less on attracting other types of events. After realizing this, I spoke with all the critical people on the team to redirect our efforts back into the correct target demographic.

In this small and young of a company, you must not spread yourself too thin. You need to focus on a specific audience and make yourself successful with that audience before spreading to other sectors of the market. Otherwise, you will not have a consistent marketing and sales techniques that promote success. Also, you will never experience the exponential growth that happens when you reach a certain market share within a market caused by word of mouth. \

To solve this problem, the team and I worked out a solution where we could still pursue other markets if they came to us, however, not focus on them and let them subtract time from our target. We’ve created an autonomous brochure, email, and video package that we can send to any prospective clients outside the college event space that nicely lays out everything the company can do for them. Whereas for the college space, we focus our actual human resources and a majority of our marketing strategies to turn college students into our most significant clients.