The hard part of starting a business is getting your first customer. Several percent of new businesses fail in the first two years of existence. The inability to attract clients is the main reason for the failure.
Here are eight steps a business can take to ensure that it attracts customers and thrives.
The first step is one of the most effective ways to attract and retain customers, showcasing at trade exhibitions. Getting space at trade shows is essential as you can have face-to-face presentations with potential customers. You can demonstrate the working and the benefits of your product.
To attract customers to your booth, you need it to stand out. Professional booth contractors, such as nstands, can help businesses to create an attractive exhibition space. It helps build a positive impression on your brand, create a niche in the market and develop a long prospect list.
Second, open a physical store. There are several considerations to make when opening your first store. First, get an ideal location close to your target market and easy to access. Also, ensure you can pay for it for the first few months before the business is stable.
Consult an interior designer to advise on the layout of the store. It should be attractive and comfortable. Additionally, customers should find what they are looking for easily. A clumsily arranged store will not attract customers.
The third step to present your business to customers when you start is to open an online shop. It is much easier to open than a physical store, since building a website is not as expensive as paying rent for a store.
Hire a developer to create an e-commerce store for your new business. You can display your products and promote the website to reach potential customers. You need digital marketing skills to promote your new business on the internet.
Fourth, advertise your new business on diverse media platforms. Social media networks are effective advertising platforms for a new business. They reach many people who can connect or interact with your business by clicking a button on their devices. You can learn how to do it or hire a professional to help you.
Also, you can advertise your new business on traditional media such as radio, TV, and newspaper. It helps to increase awareness of your business to potential customers.
Step five, you can hire a sales and marketing team for your physical shops or start an affiliate program for your online shop. The more people you have talking about your business, the more visible it becomes to potential customers. It leads to more people who want to try out your products and services.
Depending on the products or services offered, the sixth step to presenting the new business to customers is to attend community events. Companies sponsor these events or secure a strategic location where those present can interact with them. A business representative can also participate in industry seminars and workshops to promote and talk about the business.
Step seven to present your new business to customers is through referrals. It is also known as word-of-mouth marketing. Encourage your initial customers to talk about your business to their friends. Offer them a discount on their next purchase if they introduce a customer to the company.
Step eight, partnering with other businesses or famous individuals, is an effective way to present your business to customers. Your business will attract more customers and gain credibility if a celebrity endorses it. Additionally, you can partner with companies in different industries to cross-promote in diverse networks.
The more customers a business attracts, the more money it makes. For a new company to survive beyond its second year, it must ensure it keeps its customers satisfied. The happier customers are, the more they use your products or services, and the easier it is to tell others about them. Additionally, the longer a brand survives, the more customers and fans it attracts.