What is your strategy to increase your average number of customers?
To survive, a business needs to focus on making more and more profit. Higher profits mean more money to spend on growing the business, be that in breadth or depth of service. In the grand scheme of things, this can lead to better technology, lower costs, and allows you to open other avenues for further profit. Let’s not forget that with a higher profit for your small business comes a higher amount for you to take home and spend living a life you value.
So how do you make higher profits? There are several techniques that many business owners use:
- Increasing efficiency
- Increasing productivity
- Cutting down on unnecessary expenses
- Charging more for your services/products
But, one of the best ways to increase your profits is to increase your average number of customers to generate more sales. This is the goal of almost every business. But, just like with all the other solutions to your profit problems, you first need a strategy to make it work. Second, you need to spend money to make money, but that’s not saying it needs to be a lot. For example, marketing spending for business is usually around 7.5% in terms of revenue but handles 75% of the lead generation.
Your growth strategy
Do you have a strategy to help you increase your customer base? If your answer is no, take this as your cue to develop one, as it will be invaluable going forward. Luckily, there are more ways than ever to connect with potential customers at affordable prices. All you need to do is learn how.
Some of the best tools include the use of:
- Content marketing
- Social media posts
- Giveaways and tasters
- Networking and partnerships
- Finding new sales channels
To use these tools, you need a strategy. This involves doing enough research to know who your target audience is, what social media platforms they use most, their spending habits, and their preferred type of advertisement. This research will heavily influence the way you use the above tools to ensure a higher lead conversion and allow your brand to reach a wider audience. If you need more customers, you need to start with research.
Growing a small business is not always smooth sailing. At Big Hand, we want to make this process as simple as possible for our clients. So, we put our team’s experience and creativity to work to offer you the best business advice so you can hit the ground running. And, if you need that bit of extra support, we can take care of all your accounting needs so it’s one less thing to worry about. To contact us, call 0161 327 2911.