Monday, June 17, 2013

It’s A Good Business Day If…

Just one component to a business is the growth of the customer base.  It is a good day if you maintain your customer base and add one new customer.  If you can consistently do that day-to-day you will have a very successful business.

So it is a good day if you add one new customer during that day.  So here is your question for the day.  What are you going to do “today” to grow your business by that target goal of one new customer.

Many businesses think advertising when they are considering how to grow their business.  You can surely bring in new customers with great low prices.  But, you must consider staying profitable while bringing in those new customers.  You can’t give away your products or services for very long before you are no longer in business.

Consider that what you need to do is to tell a certain number of people each day the story of your business products and services.  How many people do you need to tell about your business to attract one new customer?  That number is the key to your business growth.

Not everyone you tell is truly a potential customer.  They may not need your product or service, or at least not now.  What you sell is the key to understanding the ratio of knowledge versus need or want. Many restaurants operate with the thought that “everyone eats.”  But your product may or may not appeal to everyone’s taste.  Depending on the target market you will face more or less competition.  As you know there are a large number of pizza and burger places.  As you move away from very popular foods you will have less “numbers” of competition but you are also fishing in a much smaller pond.  As a restaurant’s prices climb their potential customer base shrinks.

Year after year and survey after survey “word-of-mouth” communication is shown to be the most effective in getting new customers through your door.  As social media has grown it has become a most effective channel to spread the word about businesses.

Once a potential customer has heard of your business you still need to stay top of mind.  They need to be reminded of your business.  You want them to think of “you” when the need for your product or service arises.

You can have a simple effective story printed on a great flyer and make sure they get handed out every day.  You don’t want to hand them to your existing customers but to “new” potential customers.  If that sounds a bit like advertising you are right.

Do your existing customers have an incentive to bring you new customers?  If not why not!

If you need help with your business printing needs make sure MI Printing is the printer to consider for your next printing job.  We can start with a quick phone call to 623.582.1302.  We want to say “Thanks In Advance”!

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MI Printing 
Phone: 623.582.1302