6 Marketing Strategies that Grow your Business Fast
Marketing strategies are very essential for speedy business growth. This is because scaling a business can be a hard and daunting task. It takes considerable effort, hard work, and determination.
In the beginning, it means wearing different hats. It means dealing with sales and marketing. It involves having to interact with customers on a day to day basis.
And so much more. At the top of the day, it takes its toll on you. Generating new business deals by growing your customer base is vital to your business success.
Here are some practical marketing strategies to help you grow your business
Recapture Existing Customers
Getting new customers is not the only option to grow your business. Many times, the purchasers you have already got are your best bet for increasing your sales. Studies have found that improving customer retention also improves the worth of a corporation.
Customers who have already purchased from you once are more likely to try to do so again, especially if they have had a positive customer service experience with you. Capture the contact information and shopping preferences of one-time customers.
Then, use that information to line up marketing systems which will convert them into repeat customers. Implementing a mixture of strategies to both retain old customers and acquire new ones is probably going to supply the simplest growth for many businesses.
Create a customer loyalty program
Loyalty programs are great ways to increase sales. It costs up to 3 times extra money to accumulate new customers than it does to sell something to an existing customer.
Other resources pin this number anywhere from four to 10 times more. However, any way that you simply slice it, acquiring new customers is dear.
Building a customer loyalty program will assist you to retain customers. It might also help you attract new ones also. If there is a clear incentive to spend extra money with you, it’ll pay off within the long haul.
Build an attractive loyalty program and make it accessible to your existing customers and watch sales skyrocket over time.
Ask for Referrals
Do not underestimate the power of referrals. Referrals might as well be the secret ingredient you need to boost sales. Most successful business entrepreneurs will tell you that referrals constitute 80% of their new businesses.
Of course, attracting new customers to your business is not bad. One way to try to do that is to ask your current customers for referrals.
These customers are already your target market, which suggests that folks in their social or work circles are likely to be your target market too.
This makes them a robust access point to new customers.
However, assuming that your customers are passing the word about your business isn’t going to increase your customer base. You have to actively seek referrals. Depending on the sort and size of your business, you can:
-Ask satisfied customers if they know anyone else who would be interested in your products or services.
-Incentivize referrals with a discount code.
-Encourage customers to share and tag your brand on social media.
Increase your business’s visibility
Increase your business’s visibility, especially online. Learn about simple SEO (search engine optimization) techniques that may help your business be more likely to point out abreast of the primary page of search results. If you’ve got a brick and mortar location, confirm that you’ve claimed your business on Google.
Social media may be a powerful tool to market your business to potential customers and gain valuable insight through ‘social listening’. Through social listening, you can get to know what customers are saying about you, gain insight into their behavior, identify keywords and trends that appeal to your target market and so improve your customer service. Social media can assist you to create your business profile and attract new customers.
Attend networking events
Networking is a pivotal tool for growing your business. Attending networking events allows you to meet with like minds, many of which have unique perspectives and insights that you just wouldn’t find elsewhere which will assist you to grow your business.
Invest time to boost your networks – it’s not about what you know but who you know. Networking allows you to create relationships with other people and encourage them to refer customers to you through word of mouth.
Give back to your community
Building brand awareness in your environment is a great way to draw in new business deals. Consider sponsoring or participating in a community event near you just to raise your business profile.
Customers need to be assured that the businesses they patronize are passionate about social causes. Actively participating in a community event will indirectly boost sales for your business.
By Gracefield Maxcot
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