On average, a healthy profit margin for a small business is between 7% to 10%. This can be difficult to achieve, especially if you’re in an oversaturated and competitive industry.
However, it’s not impossible to hit these percentages, or even exceed them! You just need to know how to market your business to get those new customers through the door. But make sure you’re working smarter and not harder.
If you need some marketing tips, then read on. Here’s how to attract customers to your business.
Partner With Other Businesses
Forming mutually-beneficial relationships with other businesses is a good idea. Partnering means you both get more foot traffic, plus customers are catered to with what they need. It’s a win-win situation for everyone involved!
Consider offering each other’s current customers discounts so they can try new services without paying the full amount.
Ask for Referrals
Take advantage of your loyal customer base and ask them for referrals. If they’re happy with your products or services, then they’ll be more than happy to recommend you to their social circles.
As a token of appreciation, and as a means of motivation, give these people exclusive promotions. These can be anything from discounts to free items.
Optimize Your Website
The majority of consumers conduct internet research before buying, so you want to be digitally present for them to find you.
Fix up all of your site’s elements, such as load time, graphics, page hierarchy, etc. Not only should your website look professional, but it should also be easy to navigate. We recommend working with web and graphic designers to perk things up.
If you don’t already have a company blog, you should start one.
Blogging has several benefits for your business. First of all, if you do search engine optimization (SEO) correctly, it’ll push your website further up the page results, meaning it’ll be more visible.
Also, it’ll position you as a thought leader, which builds trust with consumers. This can result in them converting to actual customers.
If you’re not proactively networking, then you’re definitely doing things wrong.
Make an effort to join networking organizations and events. Mingle with everyone, even if they don’t seem like the typical customer or partner.
You never know how word of mouth will go, so talk to anyone and give them a business card to remember you by. This page on metal business cards shows how you can make a powerful first impression with these small pieces of paper, so don’t forego this step.
Attract Customers in No Time
It may seem challenging to attract customers, but the truth is, if you put in the work, results will follow.
Of course, you need to focus on efforts that are worth your time and fit within your company budget. So it’s up to you to evaluate which methods are most worthwhile and to build your marketing from there.
If you’d like more help on company marketing, check out the rest of our blog posts now.