With the new year approaching, many small business owners are wracking their brains and conjuring up ways to improve business and draw in new customers. New years are a time for new beginnings, and they offer the opportunity to test out innovative strategies to attract customers. Here are some tips for the coming year that will help you expand your market reach and welcome loyal customers to your business.
- Turn enemies into allies.
It may sound counterintuitive, but for small businesses, your competition can serve as your greatest allies. By finding small businesses that offer similar products or services as your business, you can work together to cross-promote your companies. The key is finding other businesses that share a lot of customers with your company but are still distinct enough from your company that they can’t steal customers from beneath you. Take, for example, an automotive dealer versus an automotive repair shop. Both businesses cater to the same demographic but provide different value to the customers. The two businesses can work together to promote one another’s business, without compromising their own clientele in the process.
- Define your target market.
It’s a rookie mistake in the business world to attempt to cater to the widest sales group possible. In fact, businesses benefit most by honing in on a highly specific niche and being an expert in their field. By defining a tight-knit niche market, you can market your products and services to those most likely to need your services, which can save you money on marketing, while gaining you loyal customers.
- Solve the problems of your customers.
To bring in customers in the new year, you need to figure out the core problems your clientele are facing, while developing concrete solutions to those problems. Your marketing materials and customer service strategy should all center around the problems your clients face, and the ways in which your business is best equipped to solve those problems. You need to present your business as an authority in your niche, so customers know exactly where to go when the need arises.
- Follow the lead of your customers.
To truly resonate with your
consumer base, it’s best to just follow their lead. Whatever they need, you provide it. Wherever they go, you follow. Use your sales and customer data to identify trends in purchase power and shopping habits, so you can develop new sales tactics based on actual customer trends.
- Find mutually beneficial business partnerships.
Attracting new customers depends on two main factors; the convenience of your store and the value you provide. Both of these factors can be supported by the businesses you choose to partner with. Find a supplier that prioritizes both convenience and value by providing you with fast and efficient ordering at excellent rates. In turn, you’ll be able to build a business that offers more value and efficiency to your customers.
As an online wholesale supplier, DollarDays prioritizes convenience and value. We understand that the businesses we partner with need their orders received punctually and at the best prices. That’s why we work hard to source the highest-quality merchandise at low prices, so we can continue to support the success of our small business partners. Visit our website today to learn more.