Back in 2019, there were about 3 .7 million small businesses in the US, which make up a whopping 99.9 percent of all businesses in the country. As of December 2020, this shrunk to 28.8 million and around 99.7 percent, data from the US Small Businesses Administration revealed. Additional data showed that roughly two-thirds of all American businesses survive for two years, a half last for five years, and only one-third would remain operational until their tenth year.
These facts just point to the reality that business owners face each year, something that could get aggravated by factors including the economic recession and global pandemics such as COVID-19. If you’re a start-up business owner who’s trying to find ways not to become part of the sad statistic, then it’s important to attract new clients each day.
Here are eight tricks to lure fresh clients into your small business venture:
1. Empower them.
Empowering potential clients means giving them the freedom to suggest new products or services, as well as the option to make choices on how these deliverables are given to them. For example, if you own a burger stall or a small diner, this would entail allowing your clients to customize their order from the different ingredients that you have. This might look inconsequential but it makes your clients at ease with your business with the freedom you’re offering them. Remember: it’s the smallest details that often count the most.
2. Know your customers.
Do your target customers belong to the Baby Boomer or the Millennial population? Are they inclined to pay in cash or use their credit and debit cards instead? By knowing such details about your potential customers, you can make the necessary changes to your business plan and amenities to accommodate such client preferences. You can run an online survey to gather the data that you need and offer respondents some freebies or discounts in return, which shouldn’t cost you that much.
3. Make collaboration effortless.
If your business model requires working closely with your clients, then you must invest in great collaboration tools. Fortunately, some companies offer new client onboarding programs and solutions in the form of collaborative software to make the process of taking in prospects easier for both parties. The financial investment you’ll make to have such tools will be worth it when you’ve gained the confidence and support of your new clients.
4. Offer exclusivity and inclusiveness.
Many clients want to feel that they are part not just of a business’ market but of a community. That feeling of exclusivity and inclusiveness is something that not all businesses offer, which is why you should be an exception. Among other tricks, you should start a mailing list or an online community that would make clients feel that they’re very much a part of your venture.
5. Offer discounts and promotions.
Who doesn’t love discounts, right? The majority of potential clients do hunt for businesses that offer discounts and promos for new clients since they feel that they’re getting their money’s worth. While you might have periodic promos and freebies for existing patrons, your marketing plan should include the same perks for new ones. Keep in mind that it’s equally hard to get a single, fresh client to enter your premises or check out your online store, so you must do everything to entice people to give your business a try.
6. Kickstart a referral program.
Word-of-mouth is as powerful a marketing tool as you can get. If you have a considerable size of current clients, a great way to bring in new ones is to begin a referral program. This works by giving your existing clients discounts on their next visit or purchase when they can refer your business to a friend or two. Your clients’ word will serve as a vouch for your business, so new clients will enter the fold, so to speak.
7. Establish a strong online presence.
In today’s digital age, businesses that are not visible online are bound to fail most likely. As more and more customers use their internet-capable devices to purchase items and avail of services, you have to run SEO campaigns, establish a social media presence, and invest in a professional website. The effects may not be felt immediately but if you have the right marketing people to work for you, then you’re sure to reap the rewards of your efforts.
8. Work out a great value proposition.
Why should clients choose you and not the others? What do you offer that they do not? If you want to compete with other established and emerging businesses, it’s critical to craft an excellent value proposition to present to future clients. It should not be fancy but honest, direct, and simple to become effective in luring new clients to your business.
With these tips, your small business should have a fighting chance in a highly competitive industry.