10 Strategies to Increase Your Customer Base
In order to increase your sales, you could look at the following strategies:
- increase the average amount of money that is spent by each customers
- encourage your customers to buy from you more often
- and the most common is to concentrate on increasing the number of customers
In this article we will look at a 10 strategies to increase your number of customers.
- Generate more leads. This can be done via a number of means such as paid advertising, telemarketing, free publicity, mail drops, trade shows etc. Hint: A marketing plan will help co-ordinate your lead generation efforts, formulate a budget and measure the effectiveness of your efforts.
- Lower the risk of purchase. By making the purchase a ‘no risk purchase’ you increase the chances of closing the sale. This is generally done via a free trial, money back offer or consignment.
- Reduce customer loss. The customers you currently have are a huge asset to your business, protect them by putting into place great customer nurturing systems to stop customers defecting to your competitors. Remember it’s significantly easier and cheaper to sell to existing customers than new customers.
- Develop new markets. Look to expand the number of people that would be interested in your goods or services. This might be achieved by opening new stores, developing an internet presence or developing new products or services that add to your businesses customer appeal.
- Get Referrals. One of the cheapest and best forms of marketing is referrals. If good customers are referring like minded customers to you half the battle is already won as they are somewhat ‘pre-sold’ via the referrer’s recommendations.
- Hone your sales skills. Continually develop your sales team’s skills in closing sales, the more effective and motivated they are the more sales you will achieve.
- Consider a rewards program. Rewards programs can be a bit dangerous as they are very difficult to remove once establish but they do work. Providing an incentive for customers to return via a reward program can be very effective in lifting your number of customers.
- Spheres of influence. Often you can increase your profile by association, so look to establish strategic joint ventures or network with others that can influence potential buyers. Note: if you want others to endorse you, you are going to need to reciprocate.
- Contact Customers regularly. If you haven’t heard from a customer for a while then chances are they have gone elsewhere. By regularly interacting with customers you build loyalty. Consider a regular newsletter or email alert to customers informing them of new products or discounts.
- Develop a sales pipeline and develop systems around each stage to make it easier for the potential buyer to become a loyal customer.
Richard Kemp – Watts Price Accountants
The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.