A recent discovery by someone in a marketing workshop is that most of the best business leaders implement only two or three marketing strategies to attract new business. But there are other numerous possible ways to initiate new business.
Networking. Generally most small business owners use the approach of networking to attract new business. (We’ve done so by exploring networking functions and groups in and among food and beverage but also with other companies offering mobility accessories.) The common tendency among such small business leaders is to attend a networking function to get the maximum contact possible. In fact the most effective way of networking is to develop relationships and giving referrals to other members first. Unfortunately this is not realized by most small business owners.
Referrals. This is the second most preferred marketing strategy for creating new business opportunities. The objective of this approach is acting more proactively than passively. For instance, the business leaders must ask their satisfied clients for any referral rather than waiting for them to refer new potential clients. The business people can tell their customers about the type of clients that they are looking for and ask for such people. When someone tells us how much they love our cup holder, we always ask them if they know of anyone else who might benefit. Design a product or business worthwhile enough and those clients will instantly refer the potential client to you instead of just giving you a name.
Writing. Writing is an excellent marketing strategy which is not utilized most times. There is lots of demand for good trade magazines with good articles. Many subscribers and customers of the internet also follow e-zines with worthwhile content. It is certainly worth the time and effort one puts into writing an article and sends across to some two hundred publications.
Newsletters. This is a key marketing strategy to get deeper insights into the business challenges and provide solutions for them. In other words, it helps to resolve the problems for the prospects and the customers before they even realize there’s a problem. Business people have to ensure that the newsletters are not used merely as an advertising tool but to provide more valuable information to their customers. It is advisable to go for the paper version of newsletters than online version though the latter is less expensive.
Give free information. The best place to give free information to the customers about the product/service is through online e-zines. Or through your blog like we do for our drink holder.
Offer a guarantee. Customers who are not satisfied with the existing supplier may not go for a new supplier considering the risk involved. In such cases, offering a guarantee will eliminate those concerns.
Advertising. Advertising involves lot of creativity. The ad must focus on resolving the problem the customer is facing. Advertising makes a significant impact for a product or the service in the market.