Finding customers takes time, patience and money. And because entrepreneurs realize the fact that they do not have limitless resources at their disposal, a great marketing strategy is required to reel in customers with that fact in mind. An effective marketing strategy is even more important to small local businesses that may not afford to spend much on marketing strategies and rely on repeat purchases by loyal customers. Fortunately, there are three simple yet proven ways to find customers.
The best thing about networking is businesses can reap the rewards for a very long time. Frequently, the only thing that is invested when establishing relationships is time. Landing referrals from business associations is a big thing. This is because referred customers often have high retention rates and they are more likely to purchase more with time. Eventually, these customers will be more than willing to endorse your business to their family and friends.
In order for you to receive these referrals, it is necessary for you to be extremely specific about the type of customers that you want. Not only will those in your network know which people to refer to you but at the same time, you can start thinking about how you can improve the products and services you are offering so that your ideal customers are always satisfied.
2. Teaming Up
This kind of relationship may not be borne out of the cultivation professional relationships but then the endorsement of any well-known local establishment will do a lot to boost sales. This host-beneficiary arrangement will often involve businesses with the same target market but do not sell the same commodities. A high-end boutique can attach vouchers or discount offers to a high-end car dealerships products at the end of the formers newsletter. The host will often be compensated by the beneficiary in the form of sales commissions or covering the mailing costs.
Team ups may not last for a long time but genuine alliances do. Alliances are borne out of two businesses professional relationship, hence, may last for a number of years. An example of an alliance is when web designer refers interested clients to a specific ad agency and vice versa. Although alliances are difficult to establish especially if you’re just starting out, businesses can expect streams of referrals from this arrangements which will obviously outweigh all of the time and other resources invested in the process.
Chris Marentis writes from experience about lead generation, closing the sale and leveraging social media. He is the founder and CEO for a local internet marketing company Surefire Social, a resource for local search marketing