In the past year, many small businesses have lost tons of customers due to the coronavirus pandemic and the effect it has had on the economy.
And many of them are now seeking ways to get new customers and put their businesses on the track of growth again.
If this sounds like what your business is facing, then we’ve shared a few things you can do to get new customers below. And because we know you may not command as much cash flow you used to, so we made sure these strategies are super cost-effective too:
1. Value! Value!! Value!!!
This is the first and most important thing any business can do to attract customers (new and existing). There is no other strategy that would get the job done if your product or service is not providing the best value to target customers. So, check what you’re offering and make sure it is creating value for them.
Carry out research and surveys to understand what your customers need and how those needs are changing. And position your business to offer customers more value.
For instance, more customers are going online to shop, by creating an e-commerce store shows you’re responding to changes in how they buy.
2. Market Your Products
For many businesses, when they are not making as much money as they used to, they make cost cuts that would make it more difficult for them to grow.
One area that suffers from this error is marketing. Any businesses that want to grow must invest more in marketing especially when their leads are thinning out, and they need more revenue. Because marketing is the only way to promote your products and services and create awareness you need to get new leads for your business.
So, invest more in marketing your business.
There are a few ways to do this simply and, in a cost-effective way:
- Revamp Your Website – Your website is a marketing channel but only when optimized to generate leads. Work on using your website to attract new leads. Share valuable content through blogs, advertise your offerings and attract new customers.
- Social Media – Use your social media presence to reach new customers, interact with them and lead them to your website and ultimately get them to sign up as customers.
3. Extend Your Network
There is so much a business can do on its own to get new customers, collaboration allows them to expand beyond their network to an untapped network where they can get new customers. There are two ways a small business can attract new customers by tapping into new networks:
- Partner with Other Businesses – Collaboration between complementary businesses is a great way for them to reach new customers for cheap.
- Referral Marketing – businesses can leverage the network of their existing customers to reach their friends and family with their marketing campaigns and value proposition. It is an excellent way to reach the right kind of customers too.
Before you start implementing any of these methods, we’ve outlined here you must know the kind of customers you want to attract, getting a lot of the wrong customers would do your business no good, it may hurt your growth, so be wary.
If you like to speed up your Small Business growth, we have the perfect formula – Business Mastermind.
It is a combination of practical lessons, peer-to-peer support systems, collaboration spaces and everything else you need to achieve your growth objectives.
Join other growth-focused business owners and founders to grow your business with the power of our community – Join SME Mastermind today!!!