When you own a business, there is a constant desire to see it grow and prosper. With its fate resting solely in your hands, you want to do everything you can to turn your venture into the most terrific success. In order to achieve this, expanding your customer base is essential.
While it’s easy to identify this as one of your overarching ambitions, however, hoping for it in practice is an awful lot simpler than achieving it in theory. This is not something that’s likely to happen on its own – rather, it’s a feat you must actively encourage, and one way to do this is through special offers and promotions. Here are three of the best and most effective for you to try.
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Welcome Offers
In order to not only grow your audience but your customer base and sales too, it’s essential to attract new clients who have some incentive to buy from you. One of the simplest ways to encourage them in is with a welcome offer, and you’ll see this tactic at play in every conceivable industry and arena.
Take a look, for example, at the psychic reading service The Circle; they offer up to 80 percent off for new clients and a 100 percent money-back guarantee if they’re not entirely happy with their experience. What this double whammy does is, firstly, encourage customers in and, secondly, develop a necessary degree of trust for them to take a chance and transition into a paying customer.
Price Cuts
We understand that, as a fledgling business, profit margins can be tight, making you reluctant to knock too much money off your products. That being said, however, sales and price cuts are both invaluable tools to help you attract a greater audience.
This is because consumers like a bargain, and are always on the hunt not only for the best product, but the most economical too. Should you manage to undercut your competitors in a few key areas, shoppers are much more likely to take a chance and purchase from your store rather than that of your more established rivals.
Popular eBay and Amazon sellers act as a prime example of this theory being put into practice, with many recognizing that their popularity is likely to soar once they begin to feature at the top of the ‘price low to high’ listings.
Loyalty Schemes
Welcome offers and price cuts are great ways to draw customers in, but it’s not only about attracting them for the space of a single transaction; you want to retain your new clients too, and one of the best ways to do this is through loyalty schemes. This is a method employed by many big brands, from Tesco and its Clubcard scheme through to Boots and their Advantage Card beauty points.
The trick, as demonstrated by these retail behemoths, is to encourage loyalty by rewarding it, usually through monetary incentives that can be earned over a period of time and via repeat purchases. Simple, straightforward, and so often effective, these three types of promotions are all wonderful ways to boost your customer base and send your sales soaring. Why not give them a go today?
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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