They say it’s easier to get business from an existing customer than to secure a new one. Having said that, every company has to grow to survive. Companies need to increase their market share and get ahead of their rivals, but this is easier said than done. Markets are often saturated. As soon as one company has an innovation, others play copy cat. Fortunately, there are several things businesses can do to help improve their reach, and that’s what this article is all about.
Consider Business Collaborations
It’s commonplace for electricians, plumbers, and carpenters to network together. They all do one specific task but benefit from helping each other out and sharing their business. Any company can approach another that provides a complimentary (but not rival) service in this way. It can be a real case of, ‘You scratch my back, I’ll scratch yours’.
Businesses can give each other ‘shout outs’ on social media or provide web links to the other from their own website. It’s also true that when shipping is involved, companies in different locations can help each other. They can move some of their stock to a warehouse in a different location, and vice versa. This can help with 1 to 2 day shipping times and reduce delivery costs. Modern technology can be harnessed to connect collaborating businesses and stock orders.
Do Market Research
It’s important to understand one’s market audience: their gender, age, interests, and physical locations. Such technology as Google analytics can be consulted to gain more customer data. Marketing companies cost money, but their experience can pay dividends.
Once a business knows their potential customer profiles, they can use such things as Facebook or Instagram advertising, to reach a targeted audience. They can select specific age groups, genders, or locations within these campaigns.
Use Social Media
It’s free for businesses to have a presence on Facebook, Instagram, LinkedIn, and so on. The beauty of social media is that people can view these posts from anywhere in the world, instead of just reaching a local audience.
The algorithms of social media respond to high reader engagement. Companies, therefore, need to post regular quality content to reap the most benefit. It has to have the public’s interests at heart, offering helpful free information and links to other online resources. Over time, people will begin to trust the company and consider sending business their way.
Businesses can use social media to promote their online catalogs or their latest new products. They can also include links to ‘how to’ videos or helpful articles.
Offer Free Stuff
This is what potential customers want! Companies can offer discounts and coupons, or branded merchandise. It’s easy to create pdf documents, so why not create a helpful ebook that can be emailed on request? The game plan with all these ideas is to gain the public’s email addresses in the process. People can then be regularly targeted with email marketing.
‘Refer a friend’ offers are a great way to appeal to the interests of existing customers. They can evangelize your business, in return for a discount themselves. It’s a win-win because any new customer will receive a discount too.
Re-target Old Customers
People may question why this suggestion appears in an article about reaching new customers. The point is: there is no difference between a customer who no longer gives you any business and a brand new person.
By using the old contact details, it may be that their interest in the company can be rekindled. This could result in new business.
Do Videos and Blogs
Social media enables companies to include video content or (with Facebook), links to YouTube videos. The beauty of YouTube is its connection to Google. Video titles can be used that match peoples’ search words, and the video descriptions can do the same. Videos can also feature advertising at the end of its content, and there can be links underneath that take people to the company’s sales pages.
Blogs are similar tools if they include titles and content that is good for Search Engine Optimization. Their helpful free information can also be peppered with sales page links and product details.
Answering Quora questions is another form of blogging. If a business regularly provides quality answers, it can be read by interested parties no matter where they live. Quora does take down some posts if they include advertising links, but readers can nonetheless look at the profile page of any contributor. Business web pages are allowed to feature there. There are forums and groups within Quora, and companies can become trusted authorities by posting content.
Sell the Benefits and Try Niche Marketing
The public isn’t won by seeing twenty features on a new product. What sells it to them is the advantage for them. Marketing is all about finding the needs of potential customers and tailoring everything around them.
When a service or product is something most people can use, the temptation can be to advertise to too wide an audience. By narrowing down the target audience, it may be possible to gain a higher sales rate. Only over time should a company widen the net.
Learn from the Rivals
Similar companies can be a rich resource providing free guidance. Check out where they are targeting, as it will reveal where your next customers could come from. Why not walk into their success by mimicking their tactics? Learn from their mistakes by not doing what they tried and failed at. If they focus mainly on one type of advertising, it may be they have discovered the most productive means that you should also consider.
If potential customers are lured to a business website through videos, blogs, or social media, they won’t stay long if the pages are clunky or not aesthetically pleasing. Check the pages of other companies and see the colors and graphics that are used to promote their brand. Make your website the one-stop-shop for everything that potential customers will be wanting.
It will be worth every moment for businesses to regularly seek new customers. Modern technology and software can be harnessed to this strategy. Collaboration can occur between businesses, and lessons learned from the rivals. With the right offers and communication, a new business can be secure, and customers gained.