You already have loyal customers who would buy any products you offer any time. But your financial report tells you that your income has been stagnant for quite some time, and it’s time to expand your customer/client base.
If you’re a smart entrepreneur, you should be thinking about spending less to attract more customers. This might sound unrealistic but there are easy ways to generate more leads for your business without actually breaking the bank.
Here are 3 easy ways to achieve that.
Create new products
You might have great products on your stables. But if you figure out your products have reached the decline stage of their lifecycle and customers aren’t buying them anymore, you should know it’s time to create new products.
However, you must develop new products based on customers’ needs. All you need to do is generate new product ideas from customer feedback, employee suggestions and based on competitors’ plans.
Once you have your new product ideas, it’s time to create some buzz for your soon to be launched products. Note that this step should precede the product launch itself. It prepares the ground for the eventual product launch by creating awareness for potential customers.
Improve your brand
A brand is everything a business needs to succeed. It’s the brand in a business that people identify with and not the business per se. This is because your brand differentiates you from your competitors, helps to build trust, and assists potential customers to understand the core of your business well.
You can promote your online business brand by increasing your social media presence, building a business blog, leveraging search engine optimization, using email marketing and giving away freebies. These brand strategies put your business in front of the right set of people and guarantee a steady influx of new customers.
But the buck doesn’t stop at just getting new customers. You should also device several means to retain those customers in order to make repeat sales. Again, it’s quite cheaper to retain old customers than attracting new ones.
Ask for referrals
If there’s an almost effortless way of getting more customers, it is through referrals. If you offer great value in terms of quality products and services, then you should be confident to ask for referrals.
In fact, your existing customers will gladly help out with that since they already know your brand. Word of mouth referrals is a kind of offline testimonial, endorsement or recommendation, and you should leverage it for your business.
The best way to ask for a referral is to let enough time pass to produce some results, and allow the client to decide whether they are pleased with your work or not. This could be a week or it could be a few months. You should then follow up on the groundwork you laid in the buying process by directly asking for referrals.
The above-mentioned strategies coupled, with an exceptional customer support service, will give your customer attraction efforts a big boost. If properly implemented, you’d be having a good time building great relationships with the new customers that you just got.