Many business owners will know that it costs less to keep your current customers than it does to find new ones. This is true, but focusing on this idea can be damaging to your business. If you only look at ways to keep your current customers happy, there will come a point when growth slows, and you might even start to lose money. 

It’s actually best to look after your current customers and attract new ones, as long as you find your new ones in the most cost-effective and efficient way you can. Yes, it will still cost more, but it should, if you plan well, always be money well spent. Read on to find out more. 

Use Social Media 

Social media is a powerful tool that businesses can use to their advantage when it comes to finding new customers. A lot of the time, advertising on social media is free, but even if you do have to pay, the cost will usually be minimal compared to other options. That’s because social media advertising should be done in as organic a way as possible. 

If you can create a post that captures a lot of interest and is spread naturally because it contains useful information or is engaging in some way (and ideally both), you won’t have to spend anything, and your current customers will spread the word to new ones. All you have to do is create the right post to begin with. 

This is where conjoint analysis in market research comes in. If you want your post to go viral or at least be shared by a reasonable number of people, you need to know what it is that will appeal most to your target market. Market research can give you this information, and you can craft an ad campaign around the answer, helping you to grow more quickly and find new customers. 

Meanwhile, if you are using social media, it would be helpful to employ strategies that boost your user experience. For instance, shortened links are neater and easier to read, making them more user-friendly, especially on platforms with character limits like Twitter. Users are more likely to click on clean, concise links. Likewise, you can use a YouTube link shortening tool to generate a straightforward link your target audience can click to watch your videos and easily share with others.

Use SEO

Market research is clearly important, but what else will help you find new customers? One answer is SEO, otherwise known as search engine optimization. When you use this in the right way, you can rise to the top of the search engine results. This means that when people search for the things you provide, whether it’s a service or a product, it’s your name and website they see first. 

The closer you are to the top of the first page of the search engine results, the more likely it is that people will click on your link. If your website then provides them with all the information they need and an easy way to buy from you, you’ll see a rise in sales. 

SEO is a complex discipline that changes all the time, so although it is possible to do some of the work yourself, it’s always worth speaking to professionals for additional advice. 

Offer Discounts 

Something that can help you find new customers is a good discount. If someone thinks they are getting a good deal, they will want to buy from you, so it can be a good idea to consider your pricing structure. 
Something that can work well is sending out a coupon for a discount once someone buys from you. This will encourage them to come back, but they’ll also be more willing to let their friends and family know about the great deal they got from you.