Posts Tagged ‘attracting customers’

Love the One You’re With: Why You Should Focus the Most on Your Current Customers

Thursday, December 2nd, 2021
Customer reviews, client reviews, best PR firm, public relations, content marketingOne of the most common mistakes I see many businesses fall prey to, and especially small businesses, is focusing too much on getting in new customers/clients and not enough on nurturing the customers they already have. I think most businesspeople are widely familiar with data that indicates that existing customers represent more value in terms of repeat business, at less investment of time and money, than seeking new clients/customers. Yet far too many small businesses, perhaps because they’re worried about keeping the customer pipeline full, neglect the customers they already have.
Savvy small businesses can take steps to nurture those new customer relationships by being proactive and process-oriented in their approach. For instance:

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Leveraging Big Benefits From Loss Leader Pricing

Thursday, September 27th, 2018

content marketing, content management, content strategy, strategic marketing, marketing strategically, strategic communicationsby Justin Grensing, Esq., MBA

At first glance, it might seem like a ridiculous strategy to price a product below its cost. Wouldn’t you just be losing money? While this is true, many companies do just that, and they do lose money. On that specific offering. This is part of a strategy known as loss leader pricing. As defined by Inc., “loss leader pricing is an aggressive pricing strategy in which a store sells selected goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases of profitable goods.”

A great example of a loss leader is razors. (more…)

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Posted in Business Development, Competition, Marketing and Branding, Small Business Strategy | No Comments »