For a business to grow it needs more customers buying more things more often. When business is good is not the time to sit back in your comfort zone and count the profits. It is time to invest some of those profits in marketing to expand your target market or find new products or services for your existing customers. This means doing some type of marketing ALL the time not just during slowdowns. It takes time for some marketing to work so never stop doing something to promote or expand your customer base.
With all the new technology happening all the time there may be additional products or services that you can offer to those valuable customers you already have. Test new ideas or ask customers if they would buy something new that you are thinking about adding to what you offer. Every idea for a new product or service will not work successfully but don't give up and keep trying. When something works out it could end up being a big seller and give you an advantage over competitors.
Barry is a marketing coach and consultant who has started and operated about 20 businesses, several at the same time. www.idealetter.com
Sunday, November 24, 2013
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