At one point or another, all small businesses face the challenge of acquiring new customers and retaining previous clients. More often than not, the success of your business depends on your ability to attract prospective customers and cater towards existing customers at the same time.
But splitting your energy between the two can prove difficult and costly if done ineffectively.
A recent survey of the Australian Businesswomen’s Network community* has found that more than a third of all business owners identified customer retention and acquisition as a problem area. According to the figures, customer retention and marketing effectiveness ranked among the top three biggest challenges for businesses owners in the past twelve months. Regardless of how established the business was – from recent start-ups to decade-old ventures – respondents voiced similar concerns. How can business owners maintain as well as expand their client base? What marketing strategies are available, and how can they be used effectively. As more and more businesses move online, business owners are finding it necessary to adapt to new ways of thinking to support their client base. It is a task that requires constant attention, innovation and imagination – but one that ultimately pays off with careful consideration and application. The key to marketing success is remembering that it is a constant process. But the sheer number of resources available can at first seem overwhelming. Take social media as an example. Social networking sites now offer a range of tools to reach new audiences and engage existing customers. But which platforms work best for your company? Are you making the best use of its functions and tools? The Australian Businesswomen’s Network offers advice on how to maximise the potential of a range of social media platforms. The Social Media for Small Business podcast regularly features tips and insights from social media experts. Navigating your way through the different marketing tools can be confusing, so it is important to simplify the process. ABN’s Social Media Crash Course events are also designed to take you through, step by step, a range of strategies for online marketing. Remember, retaining customers is just as important as building your client base. And now is the time to embrace new marketing tools and grow your business! Learn more information about the benefits of HerBusiness’ Premium Membership. *Survey conducted by Tribe Research, commissioned by HerBusiness.
