Posted in Marketing and Strategy Terms, Total Reads: 569
Definition: Warm Market
Warm market can be used in both the sales and direct marketing industries. In direct marketing it is similar to permission marketing while in sales and direct marketing, your warm market is the people you know, which could include friends, relatives and existing customers or even referrals. It is the target audience whom you have interacted with earlier or have had some personal or professional relationship.
These people are called “Warm” because they would be more readily approachable for a sales pitch since they are familiar to you. Thus, if you have developed good relationships with people then only selling the right product to them which fulfills their need or want would be effortless.
"Cold market" refers to a salesperson's prospective or future customers. It is opposite to warm marketing in the sense that here first you need to understand the customer needs and build relationships and then sell the right product to them.