3 Effective Tactics Every Business Should Implement

Do you remember your first day as a business owner? You were probably just like the rest of us—pretty darned happy and a bit on the proud side. Back then, we thought we could conquer the world. Now, we're too busy conquering our own little corner of the world to pay much attention to the rest of it... unless it's to learn a few tips from successful marketers who have made it big. Tips like these, which apply to every market—regardless of the product or service—are great motivators to try something new. You never know when the next idea will be worth a million dollars!

1. Create a Special Offer

A special offer is exactly that... an offer that is special. Normally, customers would not be able to purchase this product or combination of products, and once the products are gone... sorry!

You don't have to go out and order a bunch of new products to put together a special offer. It doesn't take a whole lot... just use what you've got. Grab a few related items, group them together, discount the price, and your customers will be excited to get a good deal. Think about it from your standpoint... you've sold three or four items instead of just one. Combination offers are winning deals for everyone!

2. Address Small Customer Groups

Niche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it... maybe you have a group who speaks Spanish, a group of teens, and a group of middle-class family men and women.

Evaluate these groups, and discover the unique needs and desires they share. This will set you up to customize your advertising campaign directly to them. It’s not hard to take your current ads and make a few changes to adjust to the niches. They’ll be impressed that you understand them, and the increase in your profits will be the best thanks you can get.

3. Set Up a Winning Referral Program

Successful marketers develop the ability to turn their customers into advocates. Often, they don't even have to directly ask customers to refer them to others. Their willingness to go the extra mile wins customer loyalty and support. Naturally, satisfied customers refer their friends and family to the place that will take good care of them.

Quality service is the first step toward referrals, but you can easily take it one step further. Studies show that every satisfied customer tells three people about you. What would happen with a little incentive added to the picture? A lot more. Give customers who refer friends a thank you—whether it's a discount, special gift item, or a simple thank-you card—and watch the referrals spiral!

You can get two birds with one stone by implementing customer surveys. A few quick questions about what the customer does and doesn't like about your product, followed by a request for the names and addresses of friends and family who would benefit from the product, and you're all set to go with the contact information of prospective customers!

FAQs

Q1: What is a special offer and why is it effective?

A: A special offer is a unique promotion that is not normally available to customers. It is effective because it creates a sense of urgency and exclusivity, encouraging customers to make a purchase before the offer ends.

Q2: How can I create a special offer without ordering new products?

A: You can create a special offer by bundling existing products together and offering them at a discounted price. This not only entices customers with a good deal but also helps you move more inventory.

Q3: What are niche markets and why are they important?

A: Niche markets are small, specialized segments of a larger market. They are important because they allow businesses to target specific groups of customers with tailored products and marketing strategies, leading to higher customer satisfaction and increased sales.

Q4: How can I identify niche markets within my existing customer base?

A: To identify niche markets, analyze your customer data to find groups of customers who share common traits or interests. These traits could include demographics, language, lifestyle, or buying behavior.

Q5: What is a referral program and how does it work?

A: A referral program is a marketing strategy that encourages existing customers to refer new customers to your business. This can be achieved by offering incentives, such as discounts or special gifts, to customers who refer their friends and family.

Q6: How can I set up an effective referral program?

A: To set up an effective referral program, ensure you provide excellent customer service so your customers are happy to refer you. Then, offer a clear incentive for referrals and make it easy for customers to refer others by providing them with simple instructions and referral tools.

Q7: What are the benefits of customer surveys?

A: Customer surveys provide valuable feedback on what customers like and dislike about your products or services. They also offer an opportunity to gather contact information for potential new customers, helping you expand your customer base.

Q8: How can I integrate customer surveys into my referral program?

A: You can integrate customer surveys into your referral program by including a few questions about the customer's experience and a prompt for referral information at the end of the survey. This way, you gather feedback and potential new customer contacts simultaneously.