In my previous article I went through the basics a business should apply in order to prosper in challenging financial times.
In this part I am going deeper sharing some tips you can apply today in order to generate a revenue that will sustain you.
Selling to Existing Customers
Acquiring new foot or web traffic is expensive in terms of time and resources for small businesses. If you decide to put a new system in place for search engine optimazation (SEO), social media marketing or even mobile marketing, there will be a startup cost associated with these implementations.
While they may bring you the traffic that you want in order to secure the level of income that you want, there is a step that should come before doing this.
Maximizing the sales in your existing customer base is a requirement to marketing effectively.
When you have a system that brings your existing customers to your website or doors repeatedly, then every new prospect that enters your marketing funnel will eventually bring you more profit.
The question for small businesses is how one implements a system that maximizes sales with their existing client base. The Internet makes this process easy, by providing multiple ways for consumers to receive emails.
Companies should be using e-mail extensively in order to communicate with their client base.
They do that by making sure to collect e-mail addresses as soon as an individual comes in contact with their business.
That means that when a visitor transitions to being a prospect, the company should be able to communicate with them by e-mail. The same is true for the transition from prospect to buying customer.
All throughout this transition the company should be communicating with this individual by e-mail.
Communicating by e-mail is more about consistency than it is about what to pitch.
As a business owner, you'll want to use your consistent communication to develop a relationship with those that are receiving your e-mail.
This relationship should consist of you providing helpful information to them and giving them value from their relationship with you.
But the relationship should be a two way relationship. This basic trade is education for loyalty.
You should be consistent in providing your buyers the information they need to make decisions, improve their lives and solve problems.
Similarly, your expectation should be that they will reward you with their loyalty by making purchases from your website or your location.
While some might say that the trade can only take place if the buyer feels as if they are getting a great price, this is will not be true over the long run.
By providing value to the buyer when they need it, you'll be able to show them solutions that will help that won’t be discounted many times.
Moreover, if you have properly positioned your company in the mind of your prospect and solidified that position with problem solving, you’ll be less likely to be constrained to compete on the basis of price.
Because your communications involve what's in their best interest, your customers will be more likely to look for and open your e-mails. This works in your favor because every instructional instance you provide will give you a sales opportunity.
What are you doing now to establish a relationship with your customer base?
Are you in regular contact with them? When you do contact them, are you providing information to help them or are you providing discounts only?
When possible tip the balance of your communications to their best interest, and you'll find them more receptive to your offers without relying solely on price.
we are offering you a great range of books and courses to help you elevate your marketing strategies during difficult financial times.