Businesses are nothing without the customers. Since you have worked so hard to set up your business, it is natural to expect an increase in your customer base as you go. Some are happy with a 20% customer increase each year and some look for a 50-70% increase each year. Whatever your target percentage is – it will be difficult to reach that point without long term strategies in place. Also, you might be impatient and not want to wait for years to see your target customer quota fill.
Here are 4 amazing strategies that will help you increase your customers exponentially. So, pay close attention –
1. Spread your wings
Don’t misinterpret. I’m not talking about widening your target audience. It is a rather lengthy process and requires much more planning than setting up a new business. The stakes are too high because if the attempt to widen your target audience doesn’t go the way you wanted, it will be hard for you to keep your existing customers loyal to you.
What I am trying to imply here with spreading your wings is – you need to meet the demands of your existing customer base by trying out new things. If you address the needs of your existing customers, new customers or your potential customers will hear from them and soon you will have a loyal customer base. But to meet the demands, you will have to face challenges like evolving with the technology, keeping a competitive price tag and most importantly trying out new things depending on your customers’ demands.
2. Use the data you have
I have talked about this a million times. The data you have is priceless because unlike the data you buy, there is no external factor weighing in the results and it’s not 70% or 80% relevant to your business. It is 100 percent relevant. So, use that data to figure out the buying habits of your target audience. See what conditions they are most comfortable with or how often they bounce back when they don’t find what they are looking for. This information is very important to meet your customer’s demand and potentially increase the customer base.
3. Build partnerships & acquire businesses with potential
Acquisition is a very common term. Just recently Fiverr acquired And Co. A few months back, Alibaba acquired Daraz, and the giant Disney acquired 20th Century Fox. These types of acquisitions are very common in small and big businesses alike because these deals give the acquiring company all the customers from the other company. Also, merger or partnership is another great way to take someone else’s customers. Just recently Telenor & Axiata made a partnership or merger that gave them dominance over the telecommunication industry of the biggest countries in Asia. Since it worked for them, there is no reason to expect a sensible acquisition like this won’t help your business.
4. Try different marketing strategies
Lastly, you need to try out different marketing channels. If you are getting most of your customers from your website, you can try the social media platform to engage with more potential customers. Or, you can just go with paid advertisements, whatever route you take, increase your marketing span. As a result, you will definitely see an increase in your customer base.0