If you want to make your company an attractive business, you must first understand these three questions:
- Does your niche allow you to grow?
While niche specialization may be a proper strategy to differentiate and compete against larger rivals, as it might in some cases reduce competition, it should be noted that the smaller the size of the niche the higher the cost of reaching customers. Companies must find a specific niche in which they are distinct, and it should be large enough to support the operation.
- Are you aware of who pays for your vacations?
Many businesses forget the role of customers in their businesses; they do not take into account that the customers are the ones who pay for their wages, kids' education, home expenses, voyage, etc.. Therefore, the client hospitality is a must for every business, and to create customer loyalty. Although the customers are the most important for the company, not all of them are essential and will create value. The company must focus on profitable customers, which do not always mean to look for the wealthy clients. Profitable customers are those that allow the company to establish a lucrative price and generate the benefits needed to meet their financial goals.
- Do you understand your numbers?
Attracting people to your business is not enough, you should focus on how many of those people actually become customers. Many companies focus on this ratio to boost their sales. However, it seems that sometimes they do not understand what the numbers are telling them. If one of every 10 people who enter your business makes a purchase, you should not necessarily focus on increasing the proportion of 2/10, 3/10,4/10, etc. it can be very difficult to be improved, on the contrary, it is easier to focus on how long it takes to attract 10 people to your business.
5 Steps to Increase Your Attractiveness
There Are NO Small CustomersEven those customers who at most buy from you once in their life can spread the word about your business, thus draw you more customers and revenue. Furthermore, take into account that you might only need to close one deal with a customer, for he or she to become your client for the lifetime, so keep in touch with them. For example, If you are selling a consumable product, check the average duration of your product and prepare your agenda for the follow-up of the customer. Thus, when the product is finished, you will be there to offer it.
Get Their Contact InformationMany businesses forget that, if they are unable to obtain the contact information about their customers, from the beginning, they will need to invest much more money to get them back. It's always more effective to market to the person you know. Nowaday, every company must develop email marketing campaigns. Obtaining the customer's email is not an easy task, especially when they are tired of receiving spam. To obtain it, enlighten them with the benefits and value you provide with your newsletters. At first, you may have a low open rates, but do not be discouraged, sometimes it only takes you one single e-mail to get a great client (Learn how to increase your open rates). You can also invest in events and gifts, for your customers. An event may not end up in sales on the same day, but now more people know your business; thus more potential customers and revenue during the year. Therefore, not forget to get the information of those who attended the event to measure its effectiveness.
Do Not Only Motivate Your EmployeesWhile there are many ways, you can motivate your sales force, do not forget how powerful it is to be referenced by clients. People like to feel that their loyalty is rewarded with VIP treatment. Consumer likes to belong to a select group which is rewarded with discounts, free products or any form of incentive when they buy more or to bring new customers to the business. (Customer Reward Program)
Get Your Business Known By Concentrating On Your CredibilityPeople buy from those they know and trust. Whereby your credibility is very important. There is no point having an attractive business if nobody knows our business and of its appeal. To build credibility, position yourself as a specialist. Share articles, writes a blog, educate your customers about their needs. This is one of many ways you can build relationships and commitment to customers and prospects. Your website, today is your cover letter, and can attract many customers, given the belief that people have that nowadays the best prices can be found online. If people cannot google your business, it doesn't exist.
Learn How To Use Social Networks To Grow Your BusinessSeveral successful entrepreneurs agree that the growth of a company is related to growth of its network; who you know, who they know, and the reputation you build over time. However, for that you must have a proper pitch and focus on the others understand the benefits you to give, rather than how you do the work. Stop trying to persuade everyone to buy, in contrast, focus on building relationships. Note that while not all people who you might meet need your product or service, they will probably never be customers, but they may know someone who does, so generate affinity and engage them, and it can result in references to your business.
Finally, do not forget to take care of your current customers and get to know more and more and create non-competitive alliances with other businesses where your customers spend their money, to remain present into their minds.