Better Business Means More Money (Part 3)

In the last two posts, I made some submissions for your consideration if they are useful to be acted upon for ensuring better business and surely better business means more income, more money in your circulation and in your pocket ultimately. There are vast opportunities available for getting expansion – what we need is right action at right time. Some more suggestions in this direction are being put up herebelow for your kind consideration.
1. Stay With The Times.
Remember that technology is constantly changing, and so is the World Wide Web. Many businesses have a fatal flaw of not keeping up with the latest and greatest. By staying abreast of what is happening with marketing techniques and websites you can use to your advantage, you will definitely have a leg up on the competition.
2. Hit The Streets.

Online advertising is a wonderful way to spread the word, but actually getting out there does wonders. Make flyers and other printed marketing material and pass them out at events related to your business niche. Attend marketing functions such as business fairs and other networking events. Spread the word to as many people in person as possible, and your company recognition will spread like wildfire.
3. Free Shipping Is Always Appreciated.

If you can offer free shipping even if it’s only on orders over a certain total, then try to do so. One of the main deterrents for people buying online is that they have to pay a large shipping charge in order to get their items. Free shipping motivates people to purchase your products.
4. Think About Your Target Audience.

Do some serious soul searching and try to figure out your business’ customer demographics. Knowing your target customer base will really help you hone in on the product you are offering. It also gives you a better idea of where and how to advertise, so that you’re reaching a group of people who will truly be interesting in buying from you.
5. Give Affiliates New Incentives.

Everyone involved in online selling knows about affiliate programs. You should always try to keep the incentives fresh for your affiliates otherwise they will not stay motivated to help get sales. Affiliate programs are some of the most effective ways to market, so be sure the programs you offer stay fresh and fun. Make it competitive so that they will strive to get as many turnovers and sales for you as possible.
6. Entice Your Buyers.

Think of some ways you can “tease” customers into becoming loyal buyers. Think up creative marketing plans like freebies with purchase, contests, monthly email newsletters, and customer testimonials that will get them thinking about buying from your website. Always know that there are potentially thousands of new customers ready and willing to buy from you, they just haven’t discovered your business yet!
7. Follow Up Vigorously.
When you have new customers, be sure to follow up with them by either sending an email and asking for their feedback, or even better by calling or sending them a personal email or letter. Following up with customers shows you care, and gives them a reason to become repeat customers. It also encourages people to tell others about the business since you’re going above and beyond what many companies do. This in itself lends to more word of mouth advertising, for free. Postcards are another good way to ask for feedback.
8. Check Your Stats.

Be sure to use some kind of conversion rate tracking software or other statistical tracking software to see where your customers are coming from and what they’re buying. These stats can be invaluable in honing in on your marketing strategies, as well as what is working well for your website and what is not. Statistics open your eyes to things you might not have thought about without that tidbit of information.
9. Create A Community.
Don’t just be the judge and jury when it comes to your business. Add a community to your website like forums or live chat that gives the customers a chance to talk to you and talk amongst themselves. This gives them a sense that you really do care about their opinions, and it serves as a meeting place. If your website becomes a common ground for people to talk, they will return often and see what new things you have to offer.
10. Go For The Gold.

While heading towards the individual consumer is often the most common way to market your products, don’t be afraid to go for the gold and reach much larger buyers such as other businesses who might want to buy your product in bulk. Depending on what you offer, you may have something that other businesses can use. Go after some larger accounts and see where that takes you. If you can get bigger buyers, you’ve automatically just gained tons more exposure.
11. Yes Results In More Yeses.

If customers respond to particular offers more than others, the odds are that they will continue to do so. Stick with what works. Don’t be afraid to try new things, but remember that most people are creatures of habit and will come back and buy more if you continue to offer them the same deals or similar promotions on a fairly regular basis.
12. Befriend other companies.

Sometimes, partnering up can be extremely beneficial. Find other niche markets and business who do not sell the same things you do (obviously), but offer something to compliment what you do have. Then, work together and see if you can form some kind of partnership.
Often, customers like to see that companies are working with other companies, as it gives a sense of stability, security, and prominence. Talk to other businesses and see if you can come up with a “you scratch our back and we’ll scratch yours” plan.
13. Revamp, Regroup, And Redo.

If things are not panning out as you expect, it’s time to sit down and take a long hard look at what the business might be doing wrong. Think about all of the places your company is advertising, the things you’re using as marketing tools, the price of your items, and the target audience. Then, strategize so that everything is a bit more pinpointed to how you want it. Often it takes several attempts before a marketing campaign or idea is truly successful.
14. Don’t give up.

In reference to #13, it’s important not to give up. Thousands of Internet businesses fail because the owner simply waves the white flag and is not willing to try something new. Remember that online businesses are constantly changing, so you need to change with the tides. The odds are that if something is not working out the way you planned it is because you are behind the times or not up to par with what your customers truly want. This is why it is so essential to understand the mind of your customer base.
15. Never accept that business simply “slows down.”

While the economy definitely ebbs and flows, as a business owner you cannot afford to have a lax attitude towards your overall sales. If things are slowing down, find out why and then do something to change it. Do not just accept that sometimes business slows down and that things will pick back up eventually. If you have this attitude, you run a very dangerous risk of losing out on new business, or folding completely. People, who just accept that sales are low for the month or even the year, often fall into a pattern of not caring enough about their marketing to try harder, and thus they are losing out on money that could still be coming in.
Be Happy – Better Business Means More Money (Part 3)