What do you own that you would be willing to put on the line in…
It’s often been recommended to small business owners that attention must first be paid to current customers. Working on establishing loyalty is a key ingredient to a company’s long-term success. It’s also far more cost-effective to market to current customers than it is to attract new ones. However, there’s no question that working to grow a customer base is an important task for any business owner.
But what are the best advertising methods to attract new customers to your business? Here are three:
1. Cater your advertising to the needs and wants of your target audience.
Many business owners get wrapped up in highlighting how great their products and services are without identifying a specific need for those products and services. You may have the highest quality flashlights on the market. But if your advertising leaves out the various reasons why people need to have flashlights (ie. safety concerns, blackouts, camping trips etc.), you may fail in garnering any real interest in your products.
On BusinessKnowHow.com, Bernadette Doyle insists that you understand what your customers want both emotionally and logically. “What do they dream of accomplishing? What keeps them awake at night?” she asks, “There’s no point in marketing your products if you aren’t sure what your target market wants. Here’s a key concept: people buy what they want, not what you think they need. Get to know your market and you’ll find making sales much easier.”
2. Make your current customers your top promoters.
If you’ve heard it once, you’ve heard it a million times. And you’ll probably hear it a million times more! Nothing beats word-of-mouth promotion. When your customers do your advertising for you, you’re likely to significantly increase the number of people who will give your business a try for the first time. On SucceedAsYourOwnBoss.com, Melinda Emerson recommends that you “create a referral machine” out of your current customer base.
“Turn your happy customers into an unpaid sales force for your business,” she advises, “Incentivize your customers with discounts and special sales to tell their friends about your business. Find unique ways to reward and acknowledge your most loyal customers. Host a customer appreciation
3. Come up with hard-to-resist compelling offers.
What sets your business apart from all of the rest? Quite often, the answer lies in being able to highlight what it is you can do for your customers that your competitors cannot. Are you able to provide guarantees? Can you solve problems in unique ways? Doyle points out that when you make an offer irresistible, you make it hard for consumers not to choose your brand.
“What, exactly, are you delivering with your products, and what must the client give in return?” she poses, “To be effective in marketing, you need to be able to answer that question in one sentence. Here’s an example: ‘Give me ten minutes per day and I’ll give you the body you’ve always wanted.’”
At Synergy Merchants, we know that no matter the advertising strategy chosen by a business owner, it requires a budget to implement. We’re happy to be able to provide Canadian business owners with a method of getting money fast!
For more information about our merchant cash advance program or to speak with one of our licensed funding specialists to get a free, no obligation quote, simply call Synergy Merchants at 1-877-718-2026 or email us at email@example.com.