Branching beyond your core customer base is vital to growing your business. Employ these strategies to change the way you find new business or even how you engage the customers you already have.
By implementing these strategies, you’re almost guaranteed to bring in new revenue. It’s all about trying something new, such as extending new forms of credit or creating an incentivizing referral program.
1. Know Your Audience
Mine your data and use it to determine exactly who your customer is. Ask yourself what makes them tick and how can you use this information to target new customers directly.
2. Advertising
Once you know who your audience is, target them via focused mailing or other advertising, such as TV, radio, or billboards. Ensure your website is fully optimized, and take advantage of social media pay-per-click programs.
3. Extend Credit
Financing is easier than ever when you partner with a third-party financier. You don’t have to rely on banks, which are often too strict to benefit the average American. By utilizing the services of companies such as Utah-based CrestFinancial.com (check their YouTube for retailer testimonials), you’ll leverage old customers and new.
CrestFinancial is a great example of a retail financier that offers layaway at home. This is something you can extend to your customers, which will encourage them to buy higher priced items. They have time to pay it off, and you have the confidence of working with a fully trusted financier.
4. Solid Customer Service
Once you get people in the door, you obviously have to get them to come back. Make sure you give customers 100% of your attention and don’t ignore them once they’ve made their purchase.
5. Focus On Your Best Customers
Incentivize being a loyal customer and incentivize being a good customer. Don’t reward customers who behave badly or game the system; those aren’t the customers you want.
6. Business Partnerships
A solid partnership with another company is like a referral program for businesses. As long as they aren’t a direct SaaS competitor, it will benefit you to advertise to their customer base as long as you share applicable values.
7. Invest In Your Employees
Good customer service comes from knowledgeable employees. Train them yourself or send them to be trained and certified in whatever is applicable to your SaaS business.
8. Up-sell
Customers looking at cheaper options may not be aware of premium goods or services. Why not helping them discovering your other cloud products?
9. Cross-sell
Customers looking at one service or item that you sell might not be aware of others, but is likely in need.
10. Down-sell – Customers who are in dire financial straits may not be able to justify buying more, but if you can help them save money while still providing quality service, they’ll remember you when they’ve recovered financially.
11. Maintain an Internet Presence
Searching for a business on the web is the go-to way for consumers to find new places to spend money. You should have your own website as well as social media accounts like Facebook and Yelp.
12. Promotional Merchandize
Free stickers, pens, magnets, water bottles, and shirts are a great way to get your name out there, and loyal customers will wear your brand with pride.
13. Focus On Current Customers
Your current core customer base is more valuable than any hypothetical future customers, and you have to retain them if you want to actually grow.
14. Make Subtle Changes
Of course, to grow you have to change – just make sure to take small steps and listen to feedback. The best feedback can come from business turnaround specialists that can pinpoint exactly how to maximize your profits.
Growing your business is as much about staying loyal to your core consumers as it is about making sure they stay loyal to you. Small shifts will let you make big changes over time.
