fm MarketingDounut.co.uk 12/15 enhanced by Peter/CXO Wiz4biz
Getting new Business. Not having enough or relying on too few customers can leave you vulnerable. Losing just one major Customer could mean a Cash-flow crisis. By consistently focusing on “new” business, you’ll reduce your risk of failure and grow your business in a sustainable way. Here are nine (9) tips to help you win new business
1. Know your Customer. You don’t have to pay for market research, but you do need a good idea of your Target Market. Build a profile of potential customers – in particular – think about what they want and how you can appeal to them. Always aim to be special or offer better value for money than your competitors.
2. Give Incentives to existing customers. Offer discounts on future purchases. Offer Finder Fees, if your existing customers introduce new customers to you. Word-of-mouth recommendation is the most potent form of advertising, so surpass customers’ expectations where possible and always keep close to your most significant Customers – to make sure you are pleasing them.
3. Freshen up your Image. Are your Signs or business Logo looking old? Does your Website need revamping? Is your Online marketing strategy working? Call in some experts from your Network of Contact or hire a Consultant to review and determine where you can make improvements.
4. Set Target Goals. To judge how successful your new Marketing Campaign has been, you’ll need bench-mark goals. (ie, you might aim to attract enough new customers to increase profit by 10% over 12 months) What will it take? Keep your targets realistic.
5. Go back to Basics. Do what’s appropriate. Do whatever it takes. For example: Put up flyers up in local shops. Distribute leaflets & provide introductory offers. A direct mail campaign or an Email marketing campaign can also be an effective way to reach new prospects.
6. Getting the most from your Advertising Budget. Should your advertising strategy be improved? Give Free advertising on your website to non-competitors who reciprocate. If you pay for advertising, try to negotiate cheaper rates. Pay-per-click advertising online can be targeted and very cost-effective.
7. Get in the News. Try to get coverage in your local paper or trade periodicals. You will need a News-worthy story, or you could put yourself forward as an Expert to comment on your industry. You can also use new Products or Services or a new major Customer in these Public Relations releases.
8. Network. Go to Trade & Networking events and speak to as many people as possible. Get involved in local Business Associations and events. Would closer involvement in your local community be good for business? Online networking can also generate sales.
9. Find new Sales Channels. Maybe it’s time to start selling Online, if you aren’t already. This could enable you to reach many more customers and to sell round the clock. Can you sell your Product or Services thru a Distributor or Agency that already have the type of Customers you need. Ask your Network for ideas of how to expand your reach.
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