Most business owners focus on just one way to grow their businesses - winning more customers or clients. But that's only part of the picture. To leverage your investment in marketing, generate the best results, ensure the profitability and longevity of your business you must consider the '4 ways to grow your business' thoroughly. Doing anything less means you're missing out on invaluable opportunities to grow your business. In this edition we're going to focus on the first way to grow.
Most people focus just on advertising to get new customers.
However advertising can be so much more expensive, based on the results it typically generates, than other forms of marketing. To make your advertising and other strategies really perform it's important to be clear on who you want to attract. Write a list of all the characteristics of your ideal customers starting with their demographics. For individuals those are things like approximate age, sex, income levels, dependents and so on. For businesses, consider approximate revenues, number of locations, industry type, number of team members and more.