In every business, the frontlines refer to the area where you attract new customers or implement strategies to get a share from the market. A plethora of traditional and new methods are being applied today in a hazy battle for new revenue while keeping a tight grip on retention. Although many of these methods are effective, some can be very costly and would affect your margin in the long run.
Here are great ways to make sure you expand your reach to new customers while keeping your existing clients happy and loyal:
Finding the right type of customer will not only be effective but it can also make it easy for you to convert potential into sales. Many companies big and small are looking into a customized approach to reaching out to customers. It’s an effective way to bolster your brand and infiltrate a sub-group efficiently. One example is how car makers determined that those who are more intent (and have the capacity) in buying automobiles are people who have a family but at the same time would use their cars for work. That is why today, the majority of new car sales are SUVs. Also, the younger generations today are more environmentally-conscious so they are introducing hybrid cars and those that produce the least carbon footprint. Knowing who you’re selling to is an important phase when you’re trying to expand your coverage.
Sharing relevant and important information about your product or service is a great way to attract customers brimming with potential. You can learn a lot from experts online but you’ll need to do some research first, Economic Secretariat believes in unbiased opinions and no-holds-barred reviews which is effective when you want to gain your customer’s trust. Giving honest information, absent the gloss of hype, is a great way to attract potential customers, and maintain loyalty to your existing client base.
Do you know that it costs almost twice as much to attract new customers than to keep new ones? Customer service creates a customer-centered environment where they experience more than what your business offers. It adds the incalculable value of the relationship with your customers and makes it harder for your competitors to meet their expectations if they ever wander to their store. It’s also a great way to spread much-preferred word-of-mouth from your customers without having to solicit it. Your existing customers become your marketing arm to generate new leads and expand your business.
Position yourself in the market as a solution to conundrum or inconvenience. Make yourself the “hero of the day”, it’s easy to explain to people what your product or service is all about but you’ll lose their interest in less than 5 seconds. However, if you relate to them by invoking the problem or the need that they have and offer a solution, you’ll have a far better chance of winning them over. This also relates to targeting ideal customers as these individuals can easily understand and appreciate the value you’re offering to them. Uber is a carpool system, but it positioned itself as a better solution for when you’re drunk and can’t drive home. It also makes itself the answer to when taxi services are hard to come by. Basically, customers are already there, you’ll just have to identify with their needs and speak out, bringing yourself as the solution to that particular need.
You can also team up with other businesses complementary to what you’re offering to benefit from synergy. If you’re a designer, work with developers and SEO specialists to cater to reach a wider audience and get new customers. Just as relationships with customers are important, so too are your relationships with other businesses. This is networking, tapping to individuals of similar interests and possibly offering support to each other to help one’s business.
These two work better together than separately. A review can simply say how they feel about your business and your offers but if you can ask them if they’ll recommend you to their friends and loved ones, you’ll have yourself a free referral, along with a great review. Referral programs can also include something about sharing what you loved most about your product or service, it’s more effective that way since people will know what they’ll expect before they come in.
Many businesses paid the price by ignoring bad reviews or worse shaming the reviewer. A bad review can be a PR nightmare but if you pay attention to them, answer them respectfully, and give an update in a timely manner can turn a bad review into praise to the brand. It’s all about maintaining relationships to attract new ones.
There’s no silver bullet in getting new customers, if there is then people would have no need for creativity. Evaluating your needs and your strengths can help you come up with a strategy that is best suited to you. The items on the list are important for whatever business you’re in, you’ll just have to mold it and apply it to yourself. Make the best of everything and expect setbacks but don’t give up.