Thu 19 Feb 2009
Increasing Your Customer Base
Previously, we talked about ways to increase your revenue. There were basically only two ways; you could raise the prices on the goods or services you offered, or you could increase your customer base.
Experience has probably shown you that raising prices is a much easier way to increase revenues than increasing the customer base.
Often, a larger customer base will mean additional expenses for your business. You may find that you need more materials or employees once you increase your customer base, and you will certainly find yourself a lot busier than you were in the past.
However, it goes without saying that if you do want your business to grow, then sooner or later you will want to expand your customer base.
The key to gaining more customers will be marketing; let's take a look at the most reliable forms of marketing you have at your disposal.
Word of Mouth
Without a doubt, new customers referred to you by a previous customer are the best ways to increase your customer base.
Referrals mean that you are doing a good enough job for people to recommend you to others they know, and that means new clients are predisposed to being loyal to your business.
A lot of people struggle with the idea of self promotion, but it's the next best thing to word of mouth when it comes to marketing.
Seize any opportunity to get the word out to friends and acquaintances about what you do and how you do it; you never know who will be interested in using your services.
Operating a business web page is another tried and true way to increase the number of customers you have, but it is quite involved in terms of both time and money.
You have to know exactly what you are doing, and the best ways to promote your site are through the above two methods!
Marketing through media has always been a controversial issue as the results can never be fully measured.
At worst, though, media marketing will mean that word about your small business is out there, and people may contact you if they come across the business name.