Despite the many ways to develop your online business through advertising, you can also modify your price and offer more to existing customers. This is something that many small business owners neglect. They only look for new customers, instead of taking advantage of what they already have, loyal customers that can grow their business if they offer more.
People do not buy just by price. Testing a new pricing structure can add profits to your final result in the long term. Yes, you could lose customers, right. But if your profit increases and the majority stays, you have already grown your business with a simple change.
You can also use your existing customers to grow your customer base by offering reference rewards. Offer your current customers the motivation to attract new customers by offering them a discount or some type of reward.
People will also buy the same products at very different prices. They can buy the same jar of Harrods coffee, for example, as they can get ASDA for less than half the price. By aligning your brand and your company with a premium image, you can charge more and customers will gladly pay if you offer good service.
This is reduced to brand perception. If you are perceived as a market authority, people are more likely to buy from you anyway, because they perceive you as “the best”.
You can build your reputation in several ways. Branding, celebrity endorsements and marketing are just some simple strategies. First, you must build loyal followers. Once your customers like you, they are much more likely to continue using it. If they trust you and know that you offer good service, they are likely to continue to use it, despite small price increases.
If you look at the main brands of mobile phones, for example, you will see them display the price changes almost constantly. that’s because they know you’ll probably stay with them anyway, and for the few people who lose, they’ll get a big benefit for those who stay. Your future customers will accept your prices immediately anyway, as they build your business.
Therefore, if you test prices, offer complementary products for existing customers and offer a reference scheme to reward customers for referrals, you can make a big loss in your business immediately. That’s before spending money!
Then you can also use Google Places for business. This is a free service that you should use if you are a small company. It allows you to include your local company in the Google directory and will generally be displayed in the results of the search results of your main keywords.
Bing and Yahoo also offer a similar service. It’s worth the few minutes it takes to set up your ad. Then you just need to check your listing after getting a code in the publication. Once you have done this, you are already on the move. Possibly you will have a free business list that gives you new consistent customers in the coming years. It is worth its weight in gold.
Facebook also offers the option to create a free business listing as well. This is worth doing. Your business listing on Facebook can also easily be classified on the first page of Google, according to your relative competence. Again, this does not take long to configure and can create a flow of new customers through it.
Blogs are another free strategy for generating leads in your business. Of course you need a website, but you should already have one of these if you are serious about your business. Once you have set up a website, you will also want to start creating a list of subscribers from it. Email marketing is an absolute necessity if you want to grow your business. By offering a free gift product on your website, you can have your visitors choose their email list. The raffle can be anything that your customers can benefit from and that is relevant to your business. You can offer discount codes if you do not have anything else.
Then there is paid marketing. Direct response marketing is the fastest way to grow your business. Each of the methods listed above will work, depending on your competence. However, pay-per-click advertising is faster and can be expanded quickly.
If you do not know about pay per click marketing, and you want to grow your business, you should definitely take the time to learn. You can grow your business dramatically in a very short time.
AdWords and Bing are good platforms to start. Then there is Facebook and even YouTube, which offer a very specific platform for companies.
Once you have mastered all these strategies, you will have a business that is booming! Start with a strategy and learn how it works. AdWords takes time to learn and you should be careful. You can quickly consume a budget and get nothing if you do not know what you are doing. Many business owners try this strategy and give up. That’s because they have not stayed still long enough.
Initially, your ads may not work, but that’s not the platform’s fault. It depends on your understanding of how to test and measure ads, and to reduce an ad or expand it based on your performance.
Start with a small daily budget and target the keywords that are relevant to your business. Your ad will show only for those keywords, if you perform an exact match search. You can also expand your search if your ad is not showing enough in searches. Just be careful not to make a broad match at the beginning because you do not want your ad to show up for any keywords. This is the way to spend your budget very fast and get the wrong kind of traffic.
Over time, and with practice, your ads will bring you new customers. Be sure to track where your customers have come from. Then you will know if your advertising campaigns are working. When you have multiple campaigns running next to each other, you can determine what to scale and which to scale.
You can apply this same methodology to other advertising methods as well. You do not have to stay alone with online advertising, but it is a good starting point. Once you have learned one strategy, you can move on to another. Use newspaper ads, magazine ads, radio ads and advertisements. Be sure to keep track of all your sales by using discount or tracking codes in your online ads.