Winning and retaining customers is one of the biggest challenges faced by entrepreneurs. It is believed that at least 80% of your annual sales come from around 20% of your clients. If you are looking to grow your business, here are six things successful entrepreneurs do to get and keep new customers.
1.Know Your Customers
It is important that you have a clear understanding of your customers. This involves knowing what they like and what they don’t like. That way, you will be able to target interested prospects, thereby improving the possibility of winning more clients.
Do your best to know things like age, education level, geographic location, and your customer’s job title. By doing that, you won’t struggle to speak in the appropriate language to influence them into consuming your products or services.
Besides the traditional TV, press, and radio advertising, you can also use an array of online options such as social media marketing and pay-per-click. Through paid advertising, you can be certain about winning new customers for your business, but you should be ready to spend some money.
To use paid advertising, you want to begin by identifying your objectives. Maybe you want to add a prospect to your current email list for Direct Mail Retargeting or sell products directly. Some entrepreneurs also use paid advertising to make people engage more with their content or website.
3.Leverage Various Sales Channels
There are quite a number of online opportunities that many companies have failed to take advantage of. For brick-and-mortar companies, for instance, such opportunities might come in the form of digital sales of their associated commodities.
For instance, if you run a local coffee shop and brews various coffee products, then the internet can help you target the global market. For those companies that only sell online, trying to sell offline might give them invaluable customer feedback and introduce you to a new customer base.
Even in the era of information technology, proper networking is still one of the best ways to get new customers and grow your business. Through networking in your niche, besides helping know the latest changes, it helps you get closer to companies that deal with the same customer base.
Thus, through strategic networking, you can effortlessly get introduced to newer customers as you strive to understand what they are looking for. There are quite a number of online platforms that you can use for networking. For example, you can join some Facebook groups that are run by individuals with similar interests.
5.Incentivize Current Clients
Your current customers can serve as the best ambassadors for your business. They have purchased products or services from you for a long time, and the best stamp of approval is when customers invest their cash behind their approval.
Consider incentivizing the existing clients through discounts on products and services in exchange for referrals. This is a technique that is result-oriented since such buyers are highly likely to tell their colleagues about your deal. After some time, you will see that there is an improvement in the rate of conversion of prospects to valuable customers.
6.High-Quality Public Relations
An effective public relations strategy can be a great tool to grow your business. The method is highly likely to attract new buyers to your company’s doorstep. The good thing about strategic public relations is that it lets you reach thousands of prospects at the same time. You want to ensure that you use using the right channel to seek PR.
Strive to identify various public relations within your niche and get in touch with the editors to find out if you have the capacity to speak like an expert in your industry and bring more value to them. While doing that, you will be taking your business’s profile to higher levels, thereby attracting as many new customers as possible.
Successful entrepreneurs did not build their brand in a single day. Success takes time and effort, and you must be ready to sacrifice all that. You need to start by treating your existing customers as a family and be ready to listen to them at all times. Use the right tools that will help you build lifetime relations with both current and new customers.