When the word branding is mentioned, small and medium sized business owners are likely to envisage expensive consultations and protracted complex projects. While it is the norm for total branding projects to be extensive and expensive, there are still cheaper and abridged ways of improving your brand which have been found to be equally effective. It has been proved that making constant improvements to boost your business is critical towards its sustainability and ultimate success and to make your name stick in the mind of your customers, you need to create a solid brand. No matter how limited your budget may be, you will be able to afford the economical branding strategies listed below. Take to Social Media Try to build up a small following on the social media platforms and take advantage of it to promote your brand to a wider audience. Social media platforms like Instagram, Twitter, Facebook and the rest are sure ways of creating customer awareness and peddling your products to potential buyers.
Essay due? We'll write it for you!
In addition, the social media should not be seen as a mere tool for sales, it should be utilized as an open communication line between a business owner and his customers. These channels can be put to use as a means of disseminating thought-provoking industrial information, reposting or retweeting of beneficial articles with the aim of illustrating how your business works and the inherent benefits to be derived from it. When it is beginning to look like your business is dwindling with significant reduction in your customer base the social media is a sure way to get the phone to possibly ring.
It is ten times easier to retain existing customers and then to get in new ones. Thanking your current customers in a creative way while promoting your overall business image and brand has been found to enhance sells. A customer that already knowns the quality of your product and services is more likely to increase their patronage given a little incentive. Building a lasting relationship with your customer and presenting yourself as a trusted partner will make them to willingly share their needs and challenges with you and if possible, you can proffer solutions to such challenges by offering new and untried products and services that will likely meet those needs and this is a sure way of increasing revenue.
Talking is a two-way thing, while you try to draw your customers out in a conversation, try to listen because the act of listening is key to understanding and addressing the needs of the customers. You can ask some leading questions to get a clearer view of their challenges and proffer solutions through brainstorming ideas.
Creativity should be employed even in the smallest things you do, try to be unique in creating goods and services that will give lasting impressions to the consumers. You can even employ some creativity in the production of the regular business cards that customer normally forget in their pockets without bothering to give it a second look. Seize the golden opportunity to turn something uninteresting into something extraordinary, like using a fake million-dollar bill as a coating for your call card with your name and necessary details on the reverse side will definitely get both customers and potential customers to give it a second and third look, besides who would likely want to throw away a million-dollar bill.
Asking for referrals and testimonials from existing customers is a sure way of increasing your customer base and subsequently increase sells. You have to first satisfy the needs of your existing customers before you can ask them for referrals and testimonials. A satisfied customer’s testimonial can be used on your newsletters, website or sales emails as advert, but you have to ask the customers permission first.
Giving out discount on goods and services may sound antithetical to increasing proceeds but it has the potentials of making your products looks more attractive to both existing and potential clients. One important aspect of sales and promo is timing, the parameters of the promo should be clearing defined, both the start and end dates should be clearly stated so as to avoid confusion. The aim of promos is to get in new customers who may decide to stay on once they have had a taste of your products or services at a reduced price.
Selling your product as a bouquet as opposed to offering them individually is a good way of clearing the good you have in stock. Many customers are known to equate bundle purchase with savings even though the savings are insignificant. If you want to excel with bundle sales, try to keep it as flexible as possible, you might encounter customers who would reject a bundle for the sole reason that they do not need all the items in that particular bundle. Be ready to switch one item with another when such situations arise.
A lot of capital go down the drain through ineffective capital-intensive marketing plans, there is the need to seek out high-impact marketing strategies that attract a minimal budget. You can test out one or two untried methods before adding the best one to your marketing mix. The social media will definitely be an effective low-cost means of promoting your business and reaping bountiful rewards. Form a Joint Venture Joint ventures can be a powerful tool in the hands of small business owners. Pulling together with a group of small businesses or even a bigger corporation can give your overall marketing plan the nudge that it needs be successful. A joint venture has the capability to reduce your cost without recording losses, it will offer you the opportunity of breaking into new markets and subsequently create new distribution channels. In conclusion, we should note that no business thrives in a vacuum. The changes, events and policies inherent in the global community will definitely have an effect on your business. we just need to stay tuned-in on current trend and issues in your industrial locality.
Disclaimer: This essay has been submitted by a student. This is not an example of the work written by our professional essay writers. You can order our professional work here.
Sorry, copying is not allowed on our website. If you’d like this or any other sample, we’ll happily email it to you.
Your essay sample has been sent.
Want us to write one just for you? We can custom edit this essay into an original, 100% plagiarism free essay.Order now