All companies face a huge number of challenges, but perhaps the most common is the inability (or unwillingness) to change course. This is understandable: if you have a strategy that is already producing results, it is convenient to continue using it for as long as possible. This is not good for business. Just think of all the companies that failed to adapt to coronavirus restrictions. They continued to operate as if nothing had happened, and as a result, they ended up far behind their competitors.
The above example is relevant to the context of this article because companies sometimes get too fixated on acquiring new customers. At first, there’s nothing wrong with that. When you’re starting a startup from scratch, you don’t have a single customer — so you need to create a value proposition to attract people. This all changes as your audience grows. The relative value of acquiring new customers gradually begins to diminish, losing out to the relative value of simply making more money from your existing customers.
Even the largest business can’t endlessly search for a new audience. Sooner or later, this well will dry up, or another company will prove to be better from a marketing point of view. If you have been on the market for a long time, then the best option to earn more money may be to focus on clients who already use or have used your services. We will tell you exactly how to do this! This article discusses five good ways to increase profits from existing clients.
1. Referral programs
The typical division into new or existing customers during targeting is not quite right, since it is quite possible to target both at once. With a good referral program, you can achieve incredible results. Reward your regular audience for attracting new customers. If you also start rewarding newcomers themselves, you will kill two birds with one stone. The main thing is to abandon the usual tricks and offer simple but desirable monetary rewards.
For example, start giving $10 to everyone who brings in a new client — and reward the newcomer with that amount as well. Alternatively, you can use classic discount promo codes to encourage people to continue spending money with europe cell phone number list your company. Perhaps you can offer free gifts? If you’re confident that this will work, feel free to experiment. However, remember: most people would rather just earn or save real money.
2. Show your individuality on social media
What do your current customers know about your business beyond its core products and services? Most companies focus on the basics. They compete checking the security of a website on cost alone, aiming to offer high-quality products at reasonable prices, while also attracting audiences through advertising and trying to do a good enough job to retain customers. If they use social media at all, they limit themselves to posting promotions or news about site updates.
If you’re in this position, or you’re trying bw lists to use social media for marketing but aren’t seeing results, it’s time to change things up. Try to be more individual. Stop sending out boring, carefully edited news — instead, start telling the truth about what you think and feel. Of course, this doesn’t mean you should start sharing your most controversial political views — your posts should remain relevant. Just make sure your social media posts look like they were written by a real person, not a soulless bot.
