Today’s corporate world has brought a great competition for business development. New and advanced marketing strategies are being introduced, all striving to bring more and more customers to the business cycle. Different types of business do require many different types of strategies to overcome some common business problems. Therefore, the success of the strategy depends on the type of business. Though the traditional marketing has been commonly applied to each type of business but nowadays, the difference of targeted customers, industry, business conditions and organization’s own priorities and form of business may require a different marketing strategy. Like a marketing strategy for service-based business at times is required to be entirely different from product-based marketing.
There are different ways of marketing to grow your business network. But the decision that which of these suit your business may differ. We have summarized ten best ways of acquiring new customers;
Advertisement is the traditional way of selling your idea. ‘Seen is Sold’ is the principle behind advertisement, therefore, it is still the important medium of communicating your product’s strengths and convincing customers from sales point of view. Distribution of flyers, wall-chalking, banners, boards and hoardings all have been used for advertisement. Then the audio and video advertisements on radio and television have been very effective. Recently the online advertisement has been added to the list.
2. Promotional Offers
Promotional offers are effectively used for increasing sales. Different promotional offers are being initiated. Offers like cash discounts, bulk discounts and free samples are few of common promotional offers. Opening discounts are also hitting the market. It is a good way of introducing a new business while convincing to give it a try.
3. Joint Offers
Then there is also another effective way through which two or more businesses collectively agree on an offer for the mutual benefit. In this type of offers, one business manages to offer something additional as complementary to its customers whereas other one gets the advertisement and succeeds to achieve customer’s experience. Recently a cosmetic company offered good discounts on designer clothes on the purchase of their cosmetic products. Now in this scenario, the cosmetic company managed to offer some extra benefit to its customers without any additional cost to them which will definitely help in increasing their business, whereas, the designer managed to sell its outfits to some customers who might haven’t considered buying her clothes otherwise.
Vouchers or coupons have also been an effective way of sales growth. On purchase of products up to certain value offering a coupon providing discount on next purchase is one of the examples. This offer will not only convince some of the customers to buy products up to certain amount but will also ensure next time purchase at the cost of nominally decreased profit. Similarly free service voucher is also a good marketing tool.
In the current era of internet technology, it is very important to maintain a website. Prospective customers usually search for sellers on internet. The business details of suppliers, including contact details, are retrieved from websites. The website actually works as front desk for customers.
6. Online Visibility
With the advancement of internet technology, it is important to be visible on the internet. The primary way is through a website as already discussed but there are also some other ways to approach prospective customers. Prospects also evaluate the products on the bases of online reviews about the products and social media discussions related to the product where people share their experiences. Therefore, it can also be used effectively. Then it is also effective to get registered on online directories like yellow pages etc.
For sales growth, it is also important to compete on price and quality. Providing better or even same quality on lower price is definitely an effective tool for acquiring more customers.
Recommendation by the professionals or endorsement by celebrities can really make a difference. People either influenced by professionals or fan followers of celebrities tend to be convinced by their recommendations and endorsements.
Tough a little expensive but if affordable then displaying your product in an expo does really help to sell your idea directly to the mass visitors of the exhibition. You can directly communicate to the prospective clients while expressing the features of your product, answering the queries, if any, straight to the customers and receiving the feedback directly.
10. Customer Retention
One of the most important and least considered ways of acquiring more customers is to retain old customers. A satisfied customer, consciously or unconsciously markets your product and eventually brings more customers, whereas, a dissatisfy customer can cost you loss of potential customers. Therefore, retention of the customer is very important not for maintaining the sales but also for sales growth.
Every business requires growth which is actually the primary objective of any commercial business. There can be different tools and techniques for that matter. Which does really suit your business depends on your form of business, preferences, policies, and budget.