This Is The First Thing You Should Do If You Need More Customers
Does your business need more customers? It seems like a silly question to ask a business owner simply because it seems the answer will be a resounding, “Yes!” But there’s a major flaw with the reasoning that most business owners have when indicating their need for new customers — what does ‘need’ mean? Wanting more customers is a far cry from needing more customers. Unfortunately, a lot of business owners don’t know the difference.
Gauging Success The Right Way…maybe
When a lot of business owners indicate a need for more customers, they’re likely looking at their revenue. The last thing any business owner wants to see is less & less money coming into their operation. So, having more customers engaging in spending seems like the logical solution to the problem, right? The influx of customers can come from storefront traffic or online transactions, but the goal is always the same — seeing more sales.
The thing is that revenue is not the complete picture. Business owners should be looking at profits, the amount of income that remains after operating expenses are taken into account. Now that things like taxes, salaries, and inventory costs are being factored in, a more complete financial picture can come into focus.
First Things First…Market Research
So, how does the quest for new customer begin? Well, it depends. For instance, experts may argue that market research is a non-negotiable first step. The more you get to know about the area you’re in & the folks in said area, the better your business is able to target the perfect audience. Market research also means taking the time to get to know what makes their current customers, well, customers. By knowing what attracted them to your product(s)/service(s), it makes it a little easier to know what may attract new customers.
Other marketing insiders might say that a critical first step in acquiring new customers starts with businesses asking themselves an important question — what is our value? Businesses operate under the impression that what they have to offer is, by default, wanted. But is it? Does it serve a purpose? Does it provide a solution to a problem that existed or is it just a solution to a problem no one really had? Unless a business knows what it brings to the proverbial table, they can’t possibly reach out to a new audience & convince them a product/service is worth experiencing.
Step Right Up!
Of course, there’s the tried-and-true method of letting folks know about who you are by doing something big. Hosting events, trying giveaways, and essentially bringing folks into your space gives them a chance to see if what you’ve got to offer is for them. It puts the focus on the business itself to make a good enough impression to widen their reach.
Search Engine Optimization (SEO): It’s More Than Just An Acronym
It’s important to remember that today’s world is a digital one. People spend a ton of time online, with much of that time being spent on shopping. Maybe your business has done its due diligence to keep an online presence. Consistent social media posting & an easy to navigate website are par for the course. But is your online work optimized to get views? Taking the time to work on search engine optimization (SEO) can get your name out of the general ether and in front of a bigger & more specific potential audience. It’s not easy work, but with consistency & a willingness to assess/tweak as necessary, finding yourself high in search engine rankings is possible.
A Static Approach Does What It Says…Keeps You In One Place
Needless to say, when a business is in a position where they need more customers, there is no single way to reach their goal. But that in and of itself is the crux of what being in business is all about — adaptability & a dynamic approach to reaching goals.
Does your business need more customers? Click here to connect with an Austin advertising agency that can keep your operation humming.