Increase Your Customers for Your Business

Ways to Increase Your Customers for Your Business

Photo by twobee | freedigitalphotos.net

It is said that customers are the lifeblood of any business. This is so true, as no business will exist without the source of its revenue.  To increase your customers start with having prospects, converting them to happy and repeat customers. Being satisfied, these customers will endorse your business to people they know can avail of your product or service.

Increase your customers, build and maintain them following these simple ways

Get your prospects

Depending on the nature of business you are in, the source of prospects can be people you know, your neighbours, trade lists, customer directories, specific targeted lists. You can also generate lists by advertising, use of publicity, direct mail and telemarketing.

Convert your prospects into paying customers

To increase your customers, you will need to find out what specifically your customer needs and customize your product or service so that you can address their needs. As you get better in needs analysis and presentation, the number of your buying customers will increase given the same database of prospects.

Increase or preserve customer retention

Make sure your paying customers stay with you for the long-term. Generally, companies lose 19% of their customer base yearly.  For you to increase your retention ratio, customers must keep renewing the business with you year after year. For them to be compelled to do so, they must be convinced that your products or services continue to meet their needs. It costs less to keep a customer than find a new one (which costs 6-8 times more), so customer retention is key.

Ask for referrals to increase your customers

Your happy customers will be the ones to give you the most number and best quality referrals. Because they know exactly how your business works, and they would most likely know people or companies with the same needs as they have, they can refer you to people or companies most likely to buy. More importantly, these happy customers give you free and effective advertising as they relate how happy they are with your products and services.

Establish a referral system

To encourage your customers to give you names of possible and qualified prospects, you can announce and implement a reward system for every referral or batch of referrals made. Rewards can be your company’s products or services given for free, free tickets to a sports game, free hotel stays, restaurant gift certificates or whatever you think will engage your customers.

Get in touch with past customers

As time passes, you will have accumulated a list of customers who have stopped buying. Their reasons could be various– their needs have evolved, they tried out the services of a competitor and have not moved since, or there was some dissatisfaction in the past with your company that was not addressed.

Whatever these reasons are, you can also increase your customers by touching base with them to get them to try your services and products which by this time would have evolved and been upgraded. As such, you have a reason for them to give you another opportunity to service their needs.

As part of your campaign to increase your customers, find allied businesses, which do not compete with yours, who service customers with the profiles that you want. If you provide home insurance, for example, you can ally with a real estate company selling houses and condominiums so you can offer their customers insurance for their residence. You can work out an arrangement with them so they can be rewarded for their referrals or you can give them reciprocal business.

By |3:20 am|Marketing Help|Comments Off

Marketing Strategy That Sells – Do What You Do Best

Marketing-strategy-that-sells-do-what-you-do-bestWalt Disney said, “Do what you do so well, that when others see you do it, they want to see you do it again, and will bring others to see you do it.” This was the strategy Disney used in marketing Disneyland and look where Disney has taken Disneyland. Disneyland is the world’s most popular theme park.

What is your business? Are you an expert in your line of business? Or if not, do you have someone that is an expert in your line of business?

Doing what you do best in your business means offering the best quality that you can offer, whether it’s a product or a service. You might wonder how doing your best in your business can be one of your best marketing strategies… here’s how it works: when people (or customers) experience the ‘best’ of what you have to offer, they will be satisfied enough to do the following:

  • Customers will come back for more. This is called customer retention or repeat customer. This is where you will build your business relationship to the next level to keep loyal customers.
  • Customers will not consider going to your competition. This is your captured market. There will be businesses out there like yours but these customers make a conscious decision to keep on going to you for your business.
  • Customers will talk about how satisfied they are with you. This is free advertising for you. Isn’t this great? Your customer will do the talking for you, about how excellent your product or service is.
  • Customers will endorse you to others who are also interested in your business. When asked about a product or service like your business, your customers will have you top of mind, and they will endorse or recommend you outright.
  • And it goes on and on… the cycle is endless…

Having said that, now take a hard look at your business and see how you are at doing… Here are a some questions you might want to ask yourself to see where you are:

  • Do I have the best quality product or service in what I offer?
  • Do I continuously look for opportunities to improve it?
  • Are my customers getting the best benefit from my products or services?
  • Am I communicating well to my customers? Do I understand their needs – Am I giving value-added service to my customers, beyond what I am already offering them?
  • Do my customers look to me for advice and trust my suggestions?
  • If I were not the owner, would I buy my products or services? Would I recommend it to friends & relatives?

If you pass this self-examination with flying colors, then you are on your way to exercising one of your best marketing strategies – doing what you do best.

By |7:55 am|Marketing Help|Comments Off

Grow Your Business

You Need More Than Low Prices To Remain Competitive In Today’s Changed New World Economy

CompetitionIt is no longer possible to maintain a competitive advantage for an extended period of time based only on the products or services you provide or the prices you charge.

These days, it’s easy and affordable for almost any businesses to take advantage of cutting-edge technology, low-priced skilled labour or outsourcing, and more efficient delivery or distribution systems so they can enter and compete in your marketplace.

This wasn’t the case not so many years ago and you could be much more confident of maintaining your hold on the market. These days you need a number of simple to implement marketing tools to grow your business.

Even if your grow your business can offer a unique product or service, or a lower price on similar products or services that are currently offered, it won’t be long until your competition finds a way to duplicate, or match your business’s performance. And that will quickly put an end to any competitive advantage you may have had. Sad, but true.

That means, if your business can’t depend on its products, services or prices for your competitive advantage and you want to survive and thrive you are going to have to perform exceptionally well in a number of critical areas in your business!. You will need to consider your grow your business as well as how your  will distinguish your business from all the competition, so your prospects choose you.  

Why You Need A Marketing Plan!

Marketing Plan“Nothing happens until something is sold”. To grow your business you need to increase sales which will lead to more profits.

Like it or not, selling is the process of getting goods and services into the hands of consumers in return for money. It’s what the world economy is built on.

To be able to sell something, it has to be produced and this means someone needs to be employed to produce it. For the buyer to have money, they need to have a ‘job’ that produces and sells something so money is created to provide their income.

Business Marketing plan is the process of bringing together potential customers or prospects and certain products or services so an agreement to transact can be reached.

Effective Marketing plan is critical to the success of any business. If your marketing is ineffective, potential buyers may never find out about the products or services you offer that they need or want which will probably mean a sale is never made.

There are alarming statistics around how long businesses stay in operation. Some say as many as 80% won’t be around after the first year and many more won’t survive beyond 5 years. Learn to promote your Marketing plan and you are well on the way to not being one of these failures.

Despite this, most people launch into their dream business with little or no planning, and with no real idea of what can happen to them because they don’t properly plan.  Even if many business owners consider the ‘normal’ planning issues, like a business plan, most never even consider how they will get their product or service to be noticed in the market place in a way that people will stop and take notice and actually want to buy. Very few people take the time to develop a business marketing plan that will help ensure their survival, which is a real shame.

To be successful in today’s changed new world economy; business needs to do many things right and probably differently to everyone else. You need to answer the question in every prospects mind:

“WHY should I do business with YOU, compared to all your competitors out there?”