How business owners can leverage their networks to compete in the new market
Undoubtedly every business owner gets a concept of a business idea with a goal of maximising profits from the limited capital invested. Due to optimism, most business owners would fail to apprehend the fact that their desires can be compromised. All the same, that should not scare you, this article handles your fear by providing a number of tips to help you succeed in the new world market.
- Use customers feedback to boost your products and services
Essentially business exists so as to provide solutions to clients. It is therefore important for you as the business owner to make use of the feedback from the existing clients to know of their opinions in regard to the quality of their services and products the business provides. Never accord your client a deaf ear to their laments and concerns and do not underestimate opinions for they are the building blocks to a great reputation. They are essential in improving on how you serve them and improve on whom they will recommend your business to.
- Expand your customer base through referrals
All of the great business owners are known to have an open mind with respect to the expansion of their customer base by using some form of referral system. Referral works but it isn’t always easy for some people. In your efforts to do so, you the business owner will need to go out of your comfort zone to use the existing clients list to bring in more clients into the business through active referral programs. As a business owner, provide your clients with compelling messaging and/or stories that would trigger you existing clients to bring in referrals who will in turn expand your client base. Although it may be easier to promise to provide an offer to your existing customers as a means to bring in referrals, it also goes a long way to test and work with other ways to attract new clients via the referral mechanisms. Having an expanded customer bases will accord you an incredible advantage to compete well in the new market. This is one of the benefits of leveraging on your current networks.
- Improve your reputation through customers reviews
As a business owner the reviews of your business are the endorsements you get for a job well done. Client reviews can be easily harnessed via your website or social media handles with a team skilled enough to grow your reputation online and on the ground. These reviews can be used to ascertain the market priority or ranking of how your business attends to customers and the quality of your products and services. Not only can you as well use marketing automation tools to directly connect with customers, but you can also request them to leave an honest review or share their experiences to their friends and family.
- Boost your reputation via a magazine advertisement
Magazine ads are among the cheapest and most effective leveraging tools that a business can use when growing their market share and validate the brand value to the market. Your clients want high value yet cheaper products and services; but their strong urge is to equally be affiliated with a brand that they can share with friends and feel their value for their money. The glossy, well researched and desirable output of a magazine has the ability to make an impression and an argument towards a strong brand. The print of a magazine has all the features that clients want to associate with. What a magazine advertisement will do to your brand is far more beneficial than the online advertising fads that are coming up in the market. Magazine ads have 6 times more referral rates than any other media ads, which will boost your referral rates.
- Crowd-source messages and promotional ideas from email subscribers.
Be open minded on how to crowd source your promotional ideas for your clients. For most if not all, events are the main source of crowd-sourcing ideas and business sales growth. As a business owner, are you in a regular meeting with your potential clients through events? Promote your clients through during events and you will get their networks as well. Events will give you ideas on how to message right and attract the right client base to your business.
- Actively promote your networking program
Visionary business owners invest on a skilled team which is experienced on networking matters. Also, a well funded team, brings in more networking techniques which brings in more clients. Get your team well supported to inject energy into the available networking programs.
As a business owner, there are more creative ways to attract and build on your current networks to grow your business. Join our mailing list to learn more about creative ways of leveraging on your networks. We also have tips and strategies that expound the ways to build a successful build a messaging development and events that will actively grow your sales. Get our CrystalPerk Mombasa Magazine and subscribe to our newsletter for more of these kind of material.
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