5 Proven Methods to Help Grow a Client Base

5 Proven Methods to Help Grow a Client Base

The first idea to understand when working to expand your client base, is to maintain focus on building a trust relationship with ALL potential clients.

Building trust is the key way to reach new clients in this new social-based market. Only after earning their trust can you can begin to educate them on recognizing the superior value of your product or service.

Here are the top 5 methods that my consulting firm uses to acquire more clients:

1. Leverage existing networks

An existing network is the best place to start, as word of mouth advertising will help increase the client base. Reach out to your network and ask them if they know of anyone that would benefit from your product or service.

A solid core group of clients will usually make referrals and they are more likely to recommend your business to their networks. Referrals are generally regarded as the strongest potential lead generator technique because you have already established trust within your network.

2. Grow your network

An awesome business cannot gain traction without help from others. Utilizing an existing network to expand your client base is required, but will only offer so much without growing the network with new lead generation techniques.

Grow your network by attending networking events, joining organizations, or hire a professional that understands new client acquisition techniques.

3. Add calls to action

There are some strategies to take with marketing that are readily actionable, and which have the potential to pull in new clients. Add a call to action for every piece of marketing you send out, which might be an Instagram post, a monthly newsletter, or any offline marketing strategies.

Calls to action are a simple method of increasing engagement. Ask your clients their opinions, ask for suggestions, tell them to tag you with a certain hashtag. Always provide a link for potential leads to sign up for your email list.

4. Offer free trials to new clients

Another strategy to acquiring new clients is to extend a free trial of your product or service. Free trials are a tried and true tactic used to attract new clients, which can lead to good reviews and testimonials. Leverage these reviews and testimonials (see number 5) in future marketing endeavors to acquire new leads and more potential clients.

A great business can find success with a rinse & repeat cycle indefinitely, gaining more loyal clients along the way.

5. Provide your service for free as a case study

Service-based businesses can offer their service for free for a limited time, in exchange for the new client to serve as a case study. The exchange is for the new client to provide a detailed account of the benefits of your service on several social media platforms, and is a proven method to acquiring new clients.

This tried-and-true method works by proving to a potential client that there is immense value in your service, and then converting them into a loyal client. This has the effect of increasing credibility & brand exposure, while building trust relationships along the way.

For example, if you offer personal training services, explore prominent members of the local fitness community and ask to network with them. Ask them about their business and figure out how to offer a free service in exchange for an authentic blog post, or social media review. Use this referral to your advantage, and it could lead to future joint ventures with other like-minded business owners in your area.

Thank you for taking the time to explore these proven methods to help grow a client base. Hopefully you will use these techniques to your advantage and find success continuously knocking at your door.

3 Ways to Validate Cost Per Client Acquisition.

3 Ways to Validate Cost Per Client Acquisition.

As your client acquisition consultant, I must inform you that Cost Per Client Acquisition is a very important metric, one that must be calculated and measured. There is a caveat here though, a low CPA does not always mean your marketing dollars are well-spent.

Here are the top 3 Ways to Validate Cost Per Client Acquisition.

  1. Track the Numbers and Gain Clarity: CPA is considered a key performance indicator metric for determining true return on investment, and most firms are obsessive about making quick business decisions based upon this number. Stated a different way, how many marketing dollars must a business spend to gain a paying client? It matters less about how many clicks, views, or likes a campaign receives, if it is not acquiring new clients (and in turn generating revenue), it cannot be deemed successful. Many businesses do not track this KPI effectively, and some businesses do not track it at ALL, which is a gigantic mistake in this market. There are plenty of tools to track marketing efforts that will help to understand how to calculate Cost Per Client Acquisition, and with a little bit of work on the front end, it becomes easier to see which campaigns are successful. Success should ultimately be determined in the long run though, not from short-term gains, and this is when client satisfaction & retention makes an appearance. More on this point later…

 

  1. Determine an Effective CPA: The common questions we receive from our clients regarding Cost Per Acquisition is what designates a good CPA… And how much should it cost a business to acquire a new client? The short answer is that it varies from business to business, and by cost of products or services rendered; but it starts with average revenue per customer. After you determine how much an average client is worth to your business, and then further elaborate the long-term value of a client, only then can you calculate what your average profit is.

 

A low CPA seems to be the consensus, but I will argue that each firm must find a meaningful CPA. A simple CPA calculation is something like the following, take the total revenue over a period (year/month) and divide it by the number of clients served during the same period. If you know approximately how much revenue is brought in from a client, then you can determine how much you are willing to spend to acquire a new client. Some other values to be considered during the CPA calculation are as follows, estimated lifetime client value, complaints, returns, and client churn rates. This is where a low CPA may not be the best KPI to drive your business, it may just drive your business straight into the ground. This is the caveat mentioned above, find out what CPA makes fiscal sense for your firm, and validate it against the cost of service per client.

 

  1. Validate the Importance of Satisfied Clients: As I have stated in a previous post, learning what it takes to create & retain satisfied clients (read profitable clients) will serve your business far longer than simply pulling in new clients only to watch them walk out the door, never to return. I will assert that over-all client satisfaction is the most important factor that will determine the success of your business. Sorry to be the one to break it to you so bluntly, but not all clients are equal, and some clients should be considered of negative value. How much of the valuable business resources are spent on the high-quality clients vs. the negative clients?

 

Did your last “promotional discount” campaign bring you non-committed clients, the ones that you could not please no matter how hard you tried? The ones that were quick to complain and who might have left negative comments on your social media platforms. Here is a perfect reason to qualify your clients before dropping your prices.

 

In conclusion, it should be very apparent that it is necessary to effectively track, and validate the Cost Per Client Acquisition. It is also important to remember that clients that are a good fit for your business will see the value that you provide, and will be more than happy to pay you for performing your service at the professional market rate. Client satisfaction is a high priority to ensure the profitability of marketing campaigns, and the longevity of your business.

Top 7 Ways to Attract Clients to Your Small Business

Top 7 Ways to Attract Clients to Your Small Business

Marketing methods are changing! Doing business within this socially based word-of-mouth marketing atmosphere is complicated, but here is the cold, hard truth – no client wants to be sold to. The successful business has to follow the golden rule to eventually get business, specifically if you are a professional service business to consumer (B2C) business.

Here are the top 7 ways to attract clients to a small business.

  1. Focus on the value your service brings to the client. Be helpful to your prospective client when building trust relationships. It’s all about providing value, engaging people to foster relationships, being a good listener, and making sure you are a trusted resource before “selling”.
  2. Know your Business: How do you serve your client? What is your (UVP), Unique Value Proposition? How have you mastered understanding the solution that you provide to their problem? How do you help your client see your business as the best solution?
  3. Know Your Specific Client: Develop a client profile with their critical details. Who is your client? How does she live? Is she married with children or a single working professional? Is she a Baby Boomer or Millennial? Envision a distinct image of her, and make sure your marketing messages and content speak specifically to her. Remember these words of wisdom – market to everybody, and you market to nobody!
  4. Attract Your Niche Client: Depending on who your client is, some marketing methods will work better than others. Once you develop your client profile, figure out how to reach them specifically. The more niche focused your business is in the marketplace, the easier it is to reach your target market. Start by developing a list of your top 4-6 keywords. These should be the top search terms people use to find your products and services online.
  5. Professionally Engineer Your Marketing Strategy: Your marketing approach will be determined by your niche target client. Try a few of these ideas to reach your target client.
    • Develop an informative website
    • Content marketing/Blogging
    • Email marketing
    • Pay per click ads
    • Direct mail
    • Vehicle wrap
    • Flyers
    • Newspapers/magazines
  6. Create a Referral Machine: Turn your happy clients into an unpaid sales force for your business. Incentivize your clients with discounts and special sales to tell their friends about your business. Find unique ways to reward and acknowledge your most loyal clients. Host a client appreciation event or give a social media shout out to your clients. Everyone loves acknowledgement.
  7. Keep Your Clients: It’s cheaper to keep a client than to be forever chasing new ones. Your best opportunity to generate more revenue is to provide excellent customer service to existing clients. The best way to engage your clients is to stay aware of their needs. Here are a few ideas to incorporate into your business.
    • Contact clients within 3-7 days of a sale
    • Conduct online surveys about your clients wants & your customer service
    • Invite clients to leave a review on your social media platforms
    • Maintain an email newsletter at least monthly (some claim that weekly is best)
    • Send cards
    • Send birthday, holiday, or anniversary cards (It’s not just about Christmas, get creative!)

When you use these tried and true methods of marketing for your business, you are bound to see more repeat clients, and that means your business moves towards being sustainable. Remember anyone will try something once; you need to build a relationship of trust to get them to come back to you.