Last updated on May 6th, 2023 at 07:55 pm
You may have the money to start a business, but you need people to grow. No business succeeds in isolation. You need people as clients and customers, you need people to help you grow. So how exactly can you explore the power of existing and new customers to grow your business?
If you are considering starting a business today, you can find our list of some tips to get you going at: https://infomediang.com/business-start-up
According to Pastor Sam Adeyemi of Daystar Christian Centre Church and a motivational speaker, the flow of money to you is because of the people’s decisions.
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“Start thinking about people. The flow of money to you is always a result of someone else’s decision. Even if you have a business, someone still has to decide to pay for your products or services for you to have what you earn.”
Simply put, Sam Adeyemi is saying you need to grow your customer base. You need returning customers to be successful in your business.
A situation whereby customer A refers to Customer B, Customer B refers to Customer C on and on is very important in a business.
To achieve this, we’ve compiled 12 effective ways to grow your business
Know your customers
To consolidate business success you have to consistently know the needs of your customers. You can achieve this by developing products and services that they want over and over again.
Treat your business as effective communication. Feedback is key in a communication process to know if your message is well understood. Apply this to your business by gaining insight into your customers. Do achieve this, personalize your services, encourage them to provide you with feedback.
Hundreds of firms around the world are losing customers because of poor customer service. One of the registrar and hosting companies that is effectively using the power of customer service is NameCheap.
So, how can you use this strategy to grow your business? It’s simple: Go the extra mile when you can to ensure that your customers are happy doing business with you.
One of the ways this can have an effect on your business is when your first-time customer is ready to come back and willing to refer a new customer.
Consistency is important if you want to grow your business. If laundry services are what you provide, stick to it unless you want to expand and let your customer know you for one specific great service.
Pamper existing customers
How often do you get in touch with your customers about your improved services and your new products?
To use people to grow your business, stay in touch with your customers via call, an e-newsletter or keep them updated about promotional events ahead of time.
Let them be the first to enjoy discounts on the services you provide.
Explore new opportunities
don’t rest on your oars even as existing customers bring you millions of dollars in sales. You have to continue to look for opportunities to get more buyers on board.
As you get new customers, don’t abandon the existing ones, they are as important as the new one. The bottom line is the right balance
Use social media
There is power in social media. How do you use it to grow your business? A young lady shared an experience of how she closed sales of over N500,000 per month on Twitter during the COVID-19 lockdown.
She literally turned social media into her shop where she made home delivery. Unfortunately, the ban of Twitter in Nigeria has affected her business.
So, social media is a powerful tool to promote your business to potential customers at a low cost. A data-enabled android phone is what you need to start selling.
To use social media to make sales…
Use social listening to gain insight into customers’ behavior, identify keywords and trends that appeal to your target market through customer service.
Explore Networking events
Marketing is gradually becoming who you know rather than what you know. Networking is key to business success, invest in it.
Attend networking events, make new friends, build relationships with other people and encourage them to refer customers to you.
Organize and host events
Another great way to grow your business is by organizing and hosting your own event. You can do this by sending newsletters to your existing customers and encouraging them to bring in their friends.
To make this strategy work, attach benefits to the events to encourage them, it is a way of building relationships with existing and new customers.
Building brand awareness is key, do this in your local community so as to attract new business. One of the ways to do this is by sponsoring an event or by participating in a community event to raise your business profile.
Re-examine your marketing strategies
In business, all strategies may not work. The fact that it is working for your competitor isn’t a guarantee that it would work for you.
Where exactly are your customers coming from? Answers to this question will guide you to measure whether your marketing strategies are effective or not.
Reexamine your approach if something is not working and focus more time on the activities that achieve the best results.
Build entrepreneur like you
There are several ways to build entrepreneurs like you. Organize training events, don’t be afraid that they would turn to your competitors.
A larger percentage of the attendees of such events might not embrace what you do but may use your tips to develop another business line for themselves.
And in the end, some of them will be your returning customers and make referrals.
To function as a business, Pastor Adeyemi says, “you will need to create management systems to help you organize and track the data that comes in eventually.”
Do things differently and be prepared.