How to stimulate more business part 3

Posted November 14th, 2007 by Dr James Pratt

Let's pick up with going down our list of seven strategies that can help you stimulate new business, increase business from existent customers and build repeat business. Let me remind you that you may not be able to use all of them in your business, but you can certainly use some of them.

In your last two Successful Marketing Strategy blogs, I spoke about the first five

1. A Frequent Buyer Program
2. Discounting
3. Premiums
4. Packaging
5. Prepay

Let's continue this discussion with the last two:

#6) The acceptance of major credit cards. Every business should accept MasterCard, VISA, American Express, Diners Club as well as Discover Card. Of course, retail stores, online marketers, and restaurants almost have to honor these cards but just about any business can.

I've encouraged doctors, lawyers, hair stylists and other professionals to accept these cards and use them to increase their business, implement price increases with less client resistance and reduce collection problems.

This really is a simple thought process. The easier you make it for the customer to buy and the more payment options you offer the customer the better.

#7) Regular mailings to past and present customers or clients. I think the single most effective marketing strategy that any business can use to build customer loyalty, to retain customers and to stimulate more frequent purchasing by customers is the publication and distribution of direct mail.

I've often found that a monthly newsletter is an extremely powerful, cost-effective marketing method. When you keep in touch with your clientele with your own newsletter you do all of these valuable things....

>> You create a habit on the part of your customers. They expect to receive your newsletter and
they get in the habit of reading it.

>> You stay on the top of the consciousness in your customer's minds.

>> You can pass along useful information and ideas that your customers appreciate.

>> You can continue to demonstrate your expertise in your field.

>> You can stimulate word-of-mouth advertising.

And, finally.....

>> You can advertise sales, special offers, new products, new services, new locations and so on
in your own publication.

Accountants, attorneys, dentists, chiropractors, medical doctors - these professionals have learned how effective this idea is and many of these professionals put out their own newsletters on a regular basis but this same exact idea could be used by many different types of businesses.

The beauty parlor could put out a newsletter on skin care, beauty and fashion tips. The restaurant could put out a newsletter on local entertainment, recipes and shopping tips. The office equipment company could put out a newsletter on management and efficiency tips. The online marketer can put out an online newsletter to their subscription list for little or no money.

Now that you know the seven strategies that can help you stimulate new business, increase business from existent customers and build repeat business, you need to give some thought to how to use them effectively.


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