Marketing Strategy #1: Increase
the number of customers
Increasing the total number of customers is the first step
most business owners and managers take to grow their business.
Losses can occur when inexperienced sales personnel are put
in charge of designing and implementing a marketing program
- investing corporate resources to find more customers.
Executed correctly, basic marketing strategies cost efficiently
produce new prospects who are ready, willing and able to buy
products or services. The main purpose of a marketing strategy
is to develop sales prospects to convert into paying customers.
Tip: Rewarding existing customers for referring
new ones is one easy step business owners can take to increase
their total number of customers.
Marketing Strategy #2: Increase the average transaction
amount
Owners and managers spend most of their time operating their
business and searching for new customers. They often overlook
the customers they see regularly. These repeat customers are
usually taken for granted and left to conduct entire transactions
without ever being asked if they would like to buy more product
or service.
Complacency, expecting customers to buy a minimum amount
of product or service without ever being asked to buy more,
can be the undoing of a business. This attitude can eventually
cause customers to spend less money. Customers who aren’t
continuously offered compelling reasons to keep buying more
of the same products and services from one business will look
for new reasons to buy from another.
Tip: Increase the transaction by systematically
offering customers additional products or services at the
point of sale.
Marketing Strategy #3: Increase the frequency of repurchase
In an established business, an average customer purchasing
pattern develops and (like the average transaction amount)
is usually taken for granted and rarely improved upon.
A customer’s repeat business is earned by the business
who gives the customer what they want. Without having basic
marketing strategies or processes for consistently offering
customers more of what they want, repeat business is earned
less frequently.
Frequently communicating news and offers to past and present
customers via telephone or mail generally increases their
frequency of repurchase and is one more step owners can take
to grow their business.
Tip: Solicit email addresses & send
out an email contact 1-2 times yearly. You could offer special
pricing to repeat customers. Or an update on new products
or services.
About Rileyinteractive
A Western Massachusetts Company offering Strategic &
Tactical Marketing, web design, Internet marketing, search
engine optimization & hosting services to businesses,
community organizations, & individuals. We work at your
site, or from our location. |
