Despite the many ways to build your online business through advertising, you can also alter your pricing and offer more to existing customers. This is something many small business owner neglect. They only go after finding new customers, rather than leveraging what they already have, loyal customers who can grow your business if you offer them more. browse around this website www.moonproject.co.uk/how-could-you-make-your-small-business-just-a-little-bigger/
People don’t buy only based on price either. Testing a new pricing structure can add profit to your bottom line in the long run. Yes you could lose customers, true. But if your profit goes up and most of them stay, you’ve already grown your business with a simple change.
You can also use your existing customers to grow your customer base by offering referral rewards. Give your existing customers motivation to bring in new customers for you by offering a discount or some kind of reward.
People will buy the same products for vastly different prices too. They might purchase the same jar of coffee from Harrods, for example, as they can get from ASDA for less than half the price. By aligning your branding and business with a premium image, you can charge more and customers will happily pay if you offer a good service. This comes down 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 you reputation in a number of ways. Branding, celebrity endorsement and marketing are just some simple strategies. First though, you need to build a loyal following. Once your customers like you, they are much more likely to continue to use you. If they trust you and know you offer a good service, they are likely to keep using you, despite small price increases.
If you look at the top brands of mobile phones, for example, you’ll see them rolling out price changes on a near constant basis. that’s because they know you’ll probably stick with them anyway, and for the few people they lose, they’ll make a huge profit for the ones who stay. Their future customers will accept their pricing immediately anyway, as they build their business.
So, if you test your prices, offer add-on products for existing customers and offer a referral scheme to reward customers for referrals, you can make a substantial shit in your business right away. That’s before spending any money!
Then you can also use Google Places for business. This is a free service which you should be using if you’re a small business. It allows you to list your local business on Google’s directory and it will usually show in the results of the search results for your major keywords.
Bing and Yahoo also offer a similar service. It’s well worth the few minutes it takes to set up your listing. You then just need to verify your listing after you get a code in the post. Once you’ve done this, you’re all up and running. You’ll potentially have a free business listing which brings you consistent new customers for years to come. Worth its weight in gold.
Facebook also offer the option of building a free business listing too. This is well worth doing. Your business listing on Facebook can easily rank on Google’s first page too, depending on your relative competition. Again, this doesn’t take long to set up and you can build a stream of new customers through it.