Growing Your Small Business
Managing a business is like being a top flight athlete, always looking for ways to become better and better. There are three ways usually to grow your business successfully:
1. Get more customers.
2. Sell existing customers more products and services.
3. Increase affiliate sales.
Ideas for Growth
1. Attract More Customers
So one way to extend your business is to get more and more people to buy from you (or use your services) at least once. Although there are many different approached to attracting more customers, the one thing those approaches have in common is that they must either satisfy an existing demand for what you have to offer or create a new one. Supply and demand are key considerations when it comes to attracting more customers.
Learn How to Prospect for More Customers
See also What's in a Marketing Plan?
Successful businesses are finding that existing customers respond positively when asked for additional business or referrals to new customers.
See also Customer Lifetime Value
Wal-Mart in the USA and in China, (yes I have been there!) adds augmented value to the shopping experience with people greeters at the door and distinctly friendly salespeople. In adding augmented value the 'whole' is seen as being worth more than the sum of the parts.
In essence augmented value is providing that extra special 'touch' that the customer benefits from but does not necessarily pay for.
So if you're into the right training program, additional sales made by well trained staff will exceed associated costs by far.
See also Training and Development
Back-end or affiliate sales should be considered as a profitable growth feature by all businesses with a well-developed customer base. And of course, the approach fits in well with the whole idea of augmented value.
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