Ways to Grow Your Business – #1 Winning New Customers
There are 4 fundamental ways to grow your business: win new customers, get them to come back to you more often, get them to spend more when they do, and improve the processes in your business to ensure that you achieve the first 3.
When you think about any other strategy, such as cutting costs, it won’t grow your business unless you use the money you save to promote your business. It may let you control your business better and return greater profits, but it won’t grow your business.
To achieve maximum results for your business you need to focus on all 4 issues.
#1: Win new customers of the right type.
#2. Increase the number of times they deal with you.
#3. Increase your average sale or ‘transaction value’.
#4. Improve the effectiveness and processes within your business to ensure achievement of the first 3!
There are hundreds upon hundreds of ways to win new customers.
Here is a list of just some of those key strategies to do just that.
- Advertising and letter writing. Target marketing is important – identifying your ideal customer or your customer profile can make your marketing more efficient and more results-driven.
- Unique Core Differentiators – People buy differences they perceive between businesses. Did you now that there are 3 UCDs?
- Sales systems and techniques – Understanding the prospective customer’s real needs by asking detailed questions, talking in their language, gathering feedback, empathising with their concerns – are all crucial steps in the sales process.
- The Phone – Improving phone handling and over-the-phone techniques. The use of phone scripts may alleviate anxiety, increase conversions and increase sales.
- Other Promotions – Direct mail, networking, seminars, competitions, trade show exhibits, TV, Radio. The key is to be constant and consistent.