As important as customer retention is, businesses also need to attract new customers if they are to stay healthy and grow. Points Business Solutions can help you bring in new business. Discover some of the many ways to use the program to build your client and customer list by:
- Winning referrals
- Acquiring new leads
- Finding your following
- Warming up leads
- Going local
One of the best ways to build up your customer base is by working through your current customers or clients. After all, they already know your business and love what you offer. Put that goodwill to work for you, by turning current customers into business ambassadors. Here’s an idea to get started.
The plan: Offer a “reward” to current clients who refer a friend or colleague who completes a business transaction with you. Remember: the more attractive your reward, the more active people will be in getting their friends in the door.
The offer: Refer your friend and receive, for example, 2,500 points/miles when that person completes a purchase or appointment.
The cost/benefit: 2,500 points/miles costs just over $100*, but rewards you with a solid conversion that could be worth many times that over the lifetime of the new customer.
Getting leads is an important way of building new business. But not just any lead will do. The most effective way to grow is by acquiring names of potential clients that are most likely to be interested in doing business with you. A good way to acquire solid leads is by working with a complementary business. Think about it: you both have a roster of steady clients. By exposing each other to your client base, you both gain the potential to grow.
The plan: Host an information night showcasing your respective expertise. Ensure that each participant gets a small takeaway that includes your contacts, info about your business, and a thank-you gift for coming.
The offer: Make the thank-you gift a certificate worth 2,000 points/miles, claimable on their first transaction with you.
The cost/benefit: Your share of the event expenses, and just $83* — which you pay only when the conversion is complete and a purchase is made.
Find your following
Another way to ensure that leads are worthwhile is to go where your people are. Make a list of your best clients. What do they have in common? Where are you most likely to find them? If you run an organic food business, for example, your customers — and thus potential prospects — might turn up at health and wellness trade shows, young mother’s groups, or farmer’s markets.
The plan: Identify an event where you think your typical customer is likely to be. Then find a way to get yourself showcased, whether it’s with a booth, by giving a talk, or by hosting free demos.
The offer: Hand out your business card or flyer — something that gets your name and contact info in people’s hands — with award codes for 20 points/miles printed on the front. Be sure to tell people what they are and how to claim them.
The cost/benefit: Say you hand out 5,000 pieces. You’ve now got exposure to 5,000 households, for a cost of just $207.50* plus the printed materials.
Convert warm leads
Sometimes the obvious solutions are the ones most easily overlooked. It’s very likely that you already have access to a wealth of warm leads that are slipping past you — and they’re only arm’s length away. Every person who calls or emails with a question or pops in to browse is a potential customer — one who has already expressed some degree of interest in you. Why not reach out!
The plan: Reel in the people who are darting around your business with a special offer for first-time customers only.
The offer: Receive 500 points/miles as a first-time customer if you add your name and email to the database. You can email the reward once you confirm the person is new to your list.
The cost/benefit: 500 points/miles costs you just $20.75* — a small price to pay for a positive first impression with a new customer who has added their name to your mailing list.
Go with the locals
Similarly, your best future customers may be your neighbors. With so many more consumers interested in supporting their communities and shopping locally, it’s worth reaching out to this audience when you’re looking to expand your customer base.
For ideas on how to reach this market, read our article, Zone in on your best customers.
Ready to reach out? The best time to start expanding your clientele is now! Log in to your Points Business Solutions account and purchase points/miles to start your acquisition campaign. Or, join the program and get access to a powerful tool to build your client list.
* Based on the basic rate of $.0415/unit.