2. Ask for referrals
Referral marketing is possibly the most cost-effective marketing tactic you can employ for your small business. It can cost as little as zero dollars and takes only a small amount of your time. Make it a regular habit to ask your satisfied customers for referrals. However, be sure not to constantly badger and beg them! A possible way to book referrals is to offer incentives to both the referral and referee, if the referee ends up becoming a customer.
3. Create loyal customers
Creating a strong relationship with your customers is key to establishing a solid customer base. Think about it – would you prefer to have existing customers continuously come back for your product/service? Or, would you prefer to have to reel in new customers in order to make a sale? Given it costs between 5-25 times more to acquire a new customer than it does to keep an existing one**, you probably have your answer.
By creating value for current customers, you give them a reason to stay loyal to your business. Loyalty programs (think buy 10 coffees, get one free; or discounts for repeat customers) can help you create sticky customers.
4. Social Media isn’t just for personal use
It’s 2018, and you know what that means? More Facebook posts, more tweets and more envy-inducing Instagram photos of your friend’s latest holiday. With that said, social media has also become the latest platform for business marketing. You can utilise these platforms organically (for free), or pay for advertising. By creating and sharing engaging content on social media, you can attract new customers. Additionally, it can help you build relationships with existing customers and increase the market’s positive perception of your business. Social media allows you to engage with your customers, create a rapport and gives your customers an option to voice their opinions. While social media can be an extremely useful platform, it would only benefit you to set up accounts on the platforms where your target audience is likely to be. For more social media tips, check out this article.
5. Start using video
When you’re scrolling online, are you more likely to stop and watch a few second video, or read a chunk of text? According to a recent Forbes article, 80% of individuals say they’d prefer to watch a video to learn about a product/service. There are numerous platforms you can use to create effective, high-quality videos. Moreover, many of these won’t break your budget. You can shoot a video yourself, use Facebook or Instagram Live or one of the many online tools that now exist. As you can see, the options for affordable, professional-quality videos are endless.
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or your social media page. Doing so can publicly prove your business’s capabilities. As a result, this can create a positive image of your business. Moreover, you can incentivize customers to leave a review. However, keep in mind the review will reflect their experience – positive or negative. If you do incentivize customers to leave a review, make sure you read through the guidelines of the reviewing platform first.
