Successful Strategies Business Should Carry out
Do you remember your first day as an entrepreneur? Here are three successful strategies businesses should implement.
You were probably like most of us—super excited and full of optimism. Back then, we thought we could conquer the world. Now, we’re busy managing our own little corner and learning tips from successful marketers like us who have made it big. Tips like these are valuable in any market, regardless of the product or service, and can be great motivation to try something new. You never know when the next idea could be worth a million dollars!
Make a Special Offer
A special offer is exactly that—something unique. Typically, customers wouldn’t be able to purchase this particular product or combination of products, and when they’re gone, they’re gone! You don’t have to go out and acquire a lot of new items to create a special deal. Just use what you already have. Grab a few related items, bundle them, discount the price, and your customers will be thrilled to get a great deal. Think about it from your perspective—you’ve sold three or four items instead of one. Combo offers are a win-win for everyone!
Address Small Customer Groups
Niche markets are everywhere, right in front of you! Within your current customer base are groups who share common characteristics. Think about it—you might have a group who speaks Spanish, a group of teenagers, and a group of middle-class families. Identify these categories of people and understand their unique needs and desires. This will help you tailor your advertising campaigns directly to them. It’s not hard to tweak your current ads to cater to these niches. They’ll appreciate that you understand THEM, and the increase in your profits will be the best thank you you can get.
Set Up a Winning Referral Program
Successful marketers know how to turn their customers into advocates. Often, they don’t even have to ask customers to refer them to others. Their willingness to go the extra mile wins customer loyalty and support. Naturally, satisfied customers will refer their friends and family to the place that takes good care of them. Quality service is the first step towards referrals, but you can easily take it a step further. Studies show that each satisfied customer tells three people about you. What if you added a little incentive to the mix? Yes, even more referrals. Give customers who refer friends a thank you—whether it’s a discount, a special gift, or a simple thank-you note—and watch the referrals roll in!
You can achieve two goals at once by implementing customer surveys. Ask a few quick questions about what the customer does and doesn’t like about your product, followed by a request for the names and addresses of friends and family who might benefit from the product, and you’re all set with the contact information of a potential new customer!