For a business to survive, it must sustain itself by acquiring profits and generating revenue. New businesses must put in extra effort to inform their target audience about the product, otherwise, they will not survive in the market. The mainstream methods of advertising such as T.V, radio and billboard advertising are in most cases too expensive for small and new businesses to sustain.
Many small businesses end up shutting down after a short while because they’re not making enough money to keep operating. However, there are some small businesses that enter the market and start to thrive from the word go. The difference is that the successful ones are very aggressive in terms of acquiring new customers, and therefore they generate enough revenue to keep the business alive.
Here are a few ways of attracting customers to your new business
- Employ skilled and talented staff
Good employees have the ability to make a great business. For a business that requires a lot of marketing, it is important to make sure that your staff is talented. They should be super friendly and knowledgeable in the field. We all know businesses that thrive because of this factor. People will go back to a store over and over again because of their staff members. Your business will attract a lot of customers if you choose the right people to work for you. Good customer service will also lead to word of mouth advertising which is cheap and efficient.
- Make use of online advertising
The world is going digital, and very many companies have taken advantage of this fact. One, because it is cheaper to advertise online than through traditional means. Two, because the population on social media is growing and rising every single day. However, when using social media you must ensure that the quality of your advertisements is extremely good in a bid to attract customers. Yes, most customers will come across your posts, but what will make them want to find out more about the product? You must consider these factors and invest in the quality of your advertisements. Business: How To Make Money Online
- Form partnerships
For a new business, it may be necessary to form partnerships with already established businesses or organizations. Through this, it becomes easy for people to find out about the product. The already established business in most cases has a good brand image and has generated brand loyalty, and therefore customers are likely to associate your product with the other one. The most viable companies for this would be complementary products. For example, if I start to sell shoe polish, I might want to collaborate with a shoe company to establish myself in the market.
- Email marketing
You might also want to take advantage of email marketing. Some people believe that this method doesn’t work in most times because the email is likely to go to the spam folder, or the receiver will ignore it. However, if your email is catchy from the word go, people are not likely to ignore it. In our world today, most people don’t take too long before they access their emails, and you should take advantage of this factor. You can also ensure that your emails do not just have advertisements, but also curate content like a newsletter where they can find other vital information.
- Offer discounts or hold giveaways
Everybody loves it when they can acquire a good product for less money, or for free. Giveaways are a great way of letting your customer know about your product. The giveaway has to be very strategic. In many cases, businesses are now asking for people to tag their friends and share the social media post on their story. This is because it has a snowball effect of letting people know about the product. Some people even get to know about the product through the giveaway and still maintain relations even after the giveaway is held. The trick is to supply top tier products, and you will be sure to have more customers.
6. Make your product stand out
Last but certainly not least, there has to be a reason why customers choose your product over that of your competitors. This is a sustainable competitive advantage. It can be in terms of the packaging, the colours, the size, after-sales services and cost among others. Whatever it is, ensure that it is something that isn’t commonly offered by the competing brands. This way, your customers will see the benefits of using your product and choose it over all the others.
Entrepreneurship: Tips To Help You Bootstrap Your Business And Cut Costs