So, you’ve got to a stage where your business is up and running and turning over revenue. Congratulations, but it’s not time to get out the party poppers – things are only just getting started. In fact, to build a sustainable business for the long term, you’ll need to continue to develop innovative ways to attract new customers to your business.
If you aren’t yet thinking about growing your brand exposure and reaching out to your target demographic in bigger and better ways, we’ve got you covered. Here are five effective strategies to engage and encourage more prospects to become customers and eventual advocates of your brand.
Design discounts and incentives for new customers
The biggest challenge for businesses in crowded markets is to stand out from the crowd. Today’s consumers are savvier than ever before. The internet has made it possible for them to research everything to the nth degree. A simple way for brands to lure new customers into their businesses is by offering introductory discounts or bonuses. Comparison sites are a great starting point. Businesses increasingly look to get their products or services listed on platforms like PriceGrabber to grow their exposure. It’s also proving particularly popular in fledgling US markets like the newly regulated iGaming scene, with OddsChecker becoming the most prominent portal for rating and reviewing the promotions of newly arrived sportsbooks and casinos.
Embrace engagement on social media
Social media is one of the most cost-effective marketing techniques in the digital age. Use your social handles as a powerful alternative to your customer service department. Be active and responsive to messages from existing customers and especially to newcomers. You only get one chance to forge a connection with most prospects, so make sure that you don’t leave them hanging and add value. Be clever with your use of hashtags to ensure relevant audiences can see and respond to your posts. If your business is based on forging links with other businesses, consider LinkedIn as the most effective B2B social channel. Otherwise, Twitter, Facebook and Instagram will usually suffice with consumers. The latter is particularly powerful if your goods or services are highly visual.
Share your knowledge and tease solutions to the problems of prospects
Allied with regular social posts should be a consistent content strategy. If you don’t already, be sure to create an on-site blog where your business and its experts can share knowledge and discuss pressure points that your target demographic typically experience. Develop social posts suitable for each social channel to promote these. This helps to cement your brand as an authority in its niche and build trust with those new to your business. By actively seeking to resolve buyers’ problems, it’s a more natural juncture to upsell your goods and services without them feeling like you’re giving them the hard sell.
Good, old-fashioned networking
Although it’s the 21st Century, it’s still just as important to network and forge links with your industry peers. It could be a chance to find new, talented recruits to turbocharge your business or it could be hosting a networking event at your very own premises to shine a spotlight on the good work that you do. It’s also worthwhile to join your local chamber of commerce and attend relevant Meetup events wherever possible. Remember – networking is a two-way street. All the other entrepreneurs at the event will be visiting with similar goals in mind. You scratch their backs, and they’ll scratch yours.
Collaborate with businesses that can complement your service offering
If you discover businesses in differing fields that have customer bases that you could leverage, why not look to collaborate with one another? Let’s say that you’re a floristry business looking to drum up new custom. You could visit all the local, independent card stores and attempt to partner with them and sell flowers at a discounted rate with occasion cards. It’s all about finding businesses that you can work with to simultaneously enhance their offering while growing your bottom line.
Hopefully this quintet of growth strategies has given you plenty of food for thought as you embark on the next phase of your business.