ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

7 Ways To Increase The Number Of Customers For Your Business

Updated on February 15, 2008

7 Ways To Increase The Number Of Customers For Your Business

This lens looks into the world of marketing and will show you how you can increase the number of customers for your business.

Increase Your Customers

Ask nearly any business owner what they would like to have more of and most likely you'll get an answer somewhere along the lines of, "more customers."

There's no denying that customers are very important to any business. Without an adequate number of people purchasing the goods and services sold by a business, there wouldn't be any need for the business, and they would soon be out of business.

But getting customers begins with having someone to tell a sales story to - a prospect - a lead - and then converting those leads into buying and profitable customers and then keeping them from leaving and buying from the competition. Here are some ideas you can use:

1. More Leads - Get more leads. That is find ways to get in front of more prospects to tell your sales story to. There are a number of lead generation devices that can do this very effectively, from direct mail or telemarketing campaigns, to paid advertising or free publicity, to joint ventures and host-beneficiary relationships, just to name a few.

2. Increase Your Conversion - Increase the conversion ratio of prospects into paying customers. You do this by getting better at what you do. You develop your sales skills, your word tracks and your scripts. And you can even upgrade or attract a better quality of prospects that would be more likely to buy from you.

3. Reduce Customer Loss - Reduce your customer defections. That is, close the back door - don't let existing customers slip away to do business with the competition. Statistically, for every 5% increase in customer retention, a business can generate a 30 to 40% increase in profitability over a 12 to 16 month period. Since most businesses lose around 19% of their customers each year, only 81% are left. But if that number were to increase to 86% your business would enjoy a 30 to 40% increase in profitability.

Remember that it costs six to eight times more to get a new customer than it does to keep an existing one, and it's 16 times easier to sell to an existing customer than to a new one. So when you compare the acquisition costs for getting new customers to like you, know you, trust you, and buy from you the first time, versus getting your existing customers to repurchase from you, the cost-to-sale difference is significantly different.

4. Get Referrals - Increase the number of referrals. Getting new customers through referrals is one of the most cost effective methods there is for growing a business. Referrals from good customers are much easier to sell to because they're already somewhat "pre-sold." With conventional advertising it takes a certain amount of valuable time to create credibility and trustworthiness in the minds of prospects. But when a prospect comes as a result of a referral, that credibility and trustworthiness has already been established by the one who referred them.

5. Have Reward Programmes - Establishing Referral Reward Programmes for your customers who take the time and make the effort to tell others about the benefits of doing business with you can do a lot to bolster the number of referrals you get.

Simple things like cinema tickets, restaurant vouchers, car washes, manicures, or samples of some of the additional products or services you provide make good choices. The reward for a referral should be perceived as high value to your customer, but low cost to you.

6. Contact Past Customers - Reactivate former customers. Every company, including yours, has former customers - those who used to do business with them but for one reason or another have stopped and are now doing business with a competitor, or maybe not even using your products or services any longer.

It's often much easier and less expensive to sell something to someone who has done business with you in the past - someone who has already experienced the service, quality, convenience, terms, and relationship you have to offer, than it is to create a completely new customer and build that trust and credibility from ground level

7. Establish Joint Ventures - Establish joint venture arrangements with centres of influence. Find people or companies who have already spent considerable time, effort and money establishing and building relationships with customers who are of the same buying profile as the customers you are targeting. Then work out reciprocal arrangements with those businesses to refer, endorse or suggest that their customers consider certain products or services offered by your company.

New Guestbook

    0 of 8192 characters used
    Post Comment

    • profile image

      raisecash1 4 years ago

      This post is very handy to help those that are just starting out. The aspect i like most is the joint venture part of it, because it has the potential of creating tons of leads in a short while if done properly. Nice work sam02, keep the fire burning.

    • profile image

      Fast-business 6 years ago

      Thanks for the great blog post! I found your post very interesting, I believe you are an excellent author. I will make sure to bookmark your blog and will return againto your blog. I want to encourage you to continue your exciting work, have a great day!

      --------------------------------------------------------------------------------------------

      Increase your brand visibility very fast - Buy Facebook Fans

    • profile image

      tosubmitarticles 6 years ago

      In the present day most of the business owners submit unique and interesting

      articles related to their businesses, to article websites like http://www.to-submit-articles.com.

      After a few days when people around the world search for words related to your business, your article may be seen among one of the top search results in

      search engines depending on how interesting and original and unique your articles are. They might click on the link of your business website present in your

      article and hence visit your site.

      This method is very effective as it exposes your business not only locally but to the whole world. Article submission is absolutely free. There are 100% no

      hidden charges.

      Article submission on http://www.to-submit-articles.com is as simple as the name of the website.

      Please visit http://www.to-submit-articles.com to see some examples.

      Visit www.to-submit-articles.com/about to know how to submit articles

      To know more about submitting articles, please visit - http://www.to-submit-articles.com/articles/article...

    • profile image

      tosubmitarticles 6 years ago

      In the present day most of the business owners submit unique and interesting

      articles related to their businesses, to article websites like www.to-submit-articles.com.

      After a few days when people around the world search for words related to your business, your article may be seen among one of the top search results in

      search engines depending on how interesting and original and unique your articles are. They might click on the link of your business website present in your

      article and hence visit your site.

      This method is very effective as it exposes your business not only locally but to the whole world. Article submission is absolutely free. There are 100% no

      hidden charges.

      Article submission on www.to-submit-articles.com is as simple as the name of the website.

      Please visit www.to-submit-articles.com to see some examples.

      Visit www.to-submit-articles.com/about to know how to submit articles

      To know more about submitting articles, please visit - www.to-submit-articles.com/articles/article-posting-and-editting-made-extremely-simple/

    • profile image

      anonymous 6 years ago

      Shopping UGG Classic Argyle Knit 5879 are the popular style amongst many individuals, including celebrities. These UGG 30th Anniversary are both unique in appearance and comfortable to wear. UGG Adirondack Boot II can be the most popular styles. To start, however, UGG Adirondack Tall style and aesthetics. You will fall in love with their comfort and style within minutes of slipping them on your feet! UGG boots brought into existence because of the comfort and warmth they provided to our feet and can help to improve the human microcirculation. UGG Classic Cardy 5819 are designed to adjust our size easily, and can reinforce Suede Heel for stiffness and support. So they also can protect our feet from hurt.They also become the symbol of fashion. Stylish adolescents wear UGG Bailey Button 5803 black with bright colors in each season.We are suggested to trust in what we see in everyday commutation. Numerous women wear Discount ugg mayfaire with skirts, shorts, pants and so on.