The next sentence might raise a few eyebrows, but I am going to say it anyway. Winning new customers is much easier than keeping them as returning customers. After winning new business, so many things could go wrong during the retention process that customer retention becomes daunting for the business owner. However, retaining customers is extremely crucial to the health of your business, even though it’s not as easy as winning them.
5 Ways to Win New Business
1. Increase Your Customer Base – If the business has a good conversion rate, the math is simple. More customers will result in more business.
2. Cater for Different Marketing Channels – It is very likely that some of your customer base might be ebay users, some might be Amazon users and some will only look at the organic search results. To win new business it will make sense to diversify your marketing channels to reach as many potential customers as possible. A good channel to look into is affiliate marketing if you aren’t already. This gives potential buyers a 3rd party opinion on your product/service. Consumer Mattress Guide is a great example, they review mattresses to help visitors make informed buying decisions.
3. Check Your Prices – Customers are very wise these days. Before buying from you, they will research other offers to find the best deal, especially for branded products. To win new customers, ensure your prices are competitive.
4. Offer More Products or Services – True in many industries, customer taste changes, technology improves and new products are constantly introduced. To win new customers stay tuned to your market and add new products when possible.
5. Make Your Current Customers Work for You – Current customers can help immensely. Social recommendations are known to have a high conversion rate because friends or family tend to share a similar taste. To win new customers make sure your website has an easy way to share content (for example, an addthis.com button is an easy way to email a page) and do not be afraid to ask customers to share your products with others.