Businessing Magazine Logo Businessing Magazine Logo

3 Contemporary Strategies That Can Help Expand Your Small Business

3 Contemporary Strategies That Can Help Expand Your Small Business

As a new entrepreneur, you may be wondering how you can expand your business. You want your products to reach as many people as possible, but maybe you feel like you’ve exhausted all marketing strategies. To be successful, you need to make as much of a profit as you can, but it also needs to be on a consistent basis. Two things you’ll definitely want to do are to attract new customers and keep current customers. There are a few ways that this can be done, but here are some of the most popular ways.

Brand Ambassadors

This is becoming a very popular trend among small and larger businesses. Also known as influencers, and similar to affiliate marketers, brand ambassadors are your most loyal customers who care deeply about your products just as much as you do. They genuinely love your products and want others to experience the same joy your company brings to them, especially on social media.

Converting your most loyal customers into brand ambassadors benefits them and your business. You can offer them commissions (at whatever percentage that works best for your company) every time they refer new customers to your website. As an ambassador, they’ll feel like they’re a part of your business, and because they genuinely love your products, it will be easy for them to sell your products to others, without it looking like they’re trying too hard to push a sale. This marketing technique can actually cost you less money than other marketing techniques.

Customer Loyalty Programs

It’s true that you should expand your business to pull in new customers, but you shouldn’t neglect your current customers. Customers love to know that their loyalty is appreciated, so what better way to show them than to create a customer loyalty program? If your current customers don’t feel like they gain anything more than products from your company, they may be compelled to look elsewhere for the same thing. Loyalty programs keep customer retention high, and can also entice new customers to buy and to continue buying your products.

A common technique is to allow your loyal customers to earn points every time they purchase a product. Once they reach a certain number of points, they can apply it as a discount on their total purchase, or use the points to receive a free product. This gives them more incentive to buy from you when they are rewarded often.

Recruitment Marketing

Once you’ve mastered the art of attracting and retaining customers, you’re going to need more help to keep up with the new demands that your business is facing. So how do you get people interested in working for you? Your first thought may be that you can convert your brand ambassadors into employees, which may work since they’re in love with your products and company just as much as you are. But as a business owner, you’re going to want employees who will excel in the positions you’re hiring for.

This is where recruitment marketing comes in. Just like there’s a need to market towards potential customers, there’s also a need to market towards potential employees. You’ve put your products on the market in a desirable way to entice people to buy from you, and you also need to put your company out there as a desirable place to work. If you’re not sure how to do this, there are marketing agencies out there that can help you recruit potential candidates through something called employment branding. Through this technique, your brand will be marketed towards the best and most qualified candidates.

While you’re focusing on expanding your business to attract new customers, don’t forget about your current ones too. Also, while you’re expanding your business, remember this can create a need for more help. When putting in effort towards marketing to potential customers, don’t be afraid to use that same marketing power to recruit potential employees.

short url:

by Rebecca Jones // Contributor to Businessing Magazine.

Opinions expressed by contributors are their own.