How to Attract New Customers

how to attract new customers

Estimated reading time: 2 minutes

Attracting new customers is arguably one of a small business’s most important goals. Small businesses rely on loyal customers, meaning customer service and engagement carry more weight during decision-making.

As crucial as retaining your current customer base, finding ways to increase the number of customers is equally important. In this Balboa Capital blog post, you will learn how to attract new customers to your small business.

Know your current customers.

Invite your customers to participate in an online survey. This allows your customers to engage with you and your brand and provide feedback and insight into their needs and wants that you would otherwise not have access to. Capture their profile, age, education levels, gender, marital status, employment, hobbies, etc., and ask the right questions. Here are some examples:

  • What products that we carry do you like best?
  • Are there any products that you would like us to start carrying?
  • Are our prices too high, just right, or too low?
  • How many times do you shop at our business each week or month?

Putting together these profiles will allow you to better understand your customers and what they do. In addition, this will make reaching potential customers with the same habits and profiles easier, thus expanding your customer base.

Collaborate with other small businesses.

This is undoubtedly one of the best ways to reach a new group of prospects. Start by collaborating with a local business that caters to a similar audience to yours. You will want to select a small business open to cross-promotional efforts, where your business promotes their special offers or discounts, and vice-versa.

This method is similar to targeted marketing because you are going after a specific demographic or segment. However, it can be beneficial to both parties. You can reach a brand new audience while your partner business establishes goodwill with their loyal customers for little or no cost. Placards, flyers, or business cards can be placed at the checkout counter to generate interest.

Do not forget about Small Business Saturday and National Small Business Week. These two events receive a lot of publicity each year.

Offer a free trial.

Free trials are a great way to attract new customers, generate interest in a product and garner positive reviews. This option allows the customer to try your product at no risk, which is vital in the purchase decision process. Increase the benefit by asking for customer feedback, which you can consider in the future to make improvements.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.