Entrepreneurs thrive on the growth of their businesses. Their constant endeavour is to find new customers through enticing marketing techniques and innovative products. Since scaling up is a standard objective among all businesses, the business owner always focuses on acquiring more customers for higher sales and better profits.
However, expanding the customer base requires enormous budgets and a lot of market research. Thus, if you wish to purchase a business for sale Sunshine Coast, you need to know about growing your client database affordably. Let us look at how it can be achieved quickly and efficiently.
1. Utilise Current Customers
The existing customers are your biggest asset. You can use them to your advantage by asking them for reviews, testimonials and referrals. Make them promote the brand through word-of-mouth publicity and turn them into brand ambassadors. Most potential buyers look at online reviews before they make a purchase. Also, referrals play an important role in getting them to the stores. Thus, these should not be ignored.
Another way to generate more sales from existing customers is to upsell or cross-sell to them. Upselling involves making the customers buy higher-priced products to improve profits and cross-selling entails selling complementary products to buyers. Customer loyalty programs are also vital in client retention and are more affordable than customer acquisitions.
2. Offer Discounts or Freebies
Customers are always on the lookout for products that are cheaper and offer value for money. Thus, if you provide them with discounts and free goodies, they will be willing to buy from you. It is an excellent way to attract buyers who are looking for your products and services. Offers such as buy one get one, 50% discount on second purchase, or 20% off for first-time buyers work well in grabbing attention.
Once they make the purchase, the business owner can use their information to target them with new promotions and retain them. Free items are also effective in pulling customers. However, make sure that the incentives are not eating into your profit share.
3. Leverage Social Media
As many as 80% of Australians use social media and it is the best place to find new customers. Create a profile for your business on all the platforms where your target market exists and start interacting with them. Create content that gets shared and liked by people to increase brand visibility and credibility.
Engaging, entertaining and informative content will help you to start conversations and generate leads. You can also advertise on Facebook and Instagram to attract your target buyers and increase your customer base.
4. Make Your Website Visible
Most buyers look for products and services online and when they find your website in the top result, it generates excellent sales. Thus, use search engine optimisation to rank higher on the result pages and get higher web traffic. In addition, lure them to the site through blogs, social media posts, videos on YouTube, images on Instagram, articles on LinkedIn, etc.
Using Google Ads, Google My Business Page, live chats, webinars, email marketing and content marketing are also beneficial in finding new customers with less effort and expenditure. Digital marketing is affordable, measurable and highly result oriented.
5. Become An Industry Expert
The business owner needs to invest in brand building and creating a niche to find new customers. They need to use their exclusivity and expertise to become the thought leaders in the market segment. It can be achieved by creating high-quality content for the customers, organising industry events, collaborating with other businesses, hosting global conferences and workshops.
Besides networking and building contacts among peers, it will help in grabbing more customers who will start recognising the brand as an influencer in the category. It is essential for building brand value and equity and rising above competitors.
6. Give Back to the Community
The current generation of customers is sensitive toward causes and sustainability. They are willing to spend a few more dollars and purchase an item that was produced ethically and without hurting the environment. Whether you are reducing carbon emissions or donating a standard amount to charity from every sale, you need to do something for the greater good.
It is also the corporate social responsibility of businesses that are generating substantial profits to give back to society. You can start with small gestures like sponsoring the local sports team to encourage the children or organising a fundraiser for global warming.
Conclusion
Running a business requires a lot of effort and the utilisation of techniques that help in multiplying sales. If you wish to expand your venture, make use of the tips mentioned above to acquire new customers within your budget.
