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How to Grow Your Small Business Without Burning the Midnight Oil

Automation and content marketing is all the rage for small businesses looking to engage audiences and drive traffic to their website. However, it’s difficult for many business owners to find time to create and promote original content. Busy entrepreneurs are typically in meetings or doing client work themselves. You can forget about writing weekly blog posts and initiating digital marketing campaigns. But there’s still hope for small businesses looking to grow in the digital age. It’s possible to incorporate certain digital tactics to grow your small business while also completing your day-to-day tasks. You can execute these tactics without spending hours on digital content and social media campaigns (although those won’t hurt to have as well).

By harnessing a digital rewards platform like Perkalead, small businesses can use incentives to grow customer relationships and keep time on their side. Here are 3 tactics worth exploring if you are hoping to grow your small business without burning the midnight oil:

Reward New Sales

According to Accenture, customers are enticed by different incentives. By using a digital solution, you can incentivize prospects instantly by rewarding them at any point in the customer journey, and with a variety of reward options. Plus, digital rewards dramatically reduce the process of buying and sending incentives. Therefore, lead time is cut down, giving you more opportunities to convert new leads into sales.

As a business owner, you know that not every client relationship is created equal. That’s the beauty of digital rewards. The flexibility to incentivize dependant on the relationship you are building with your customer.

For instance, a real estate agent looking to secure prospective home buyers, can reward at many key points in their relationship. Today, any time someone holds an open house, you are typically asked to write down your name and e-mail address. You’ll then begin to receive drip e-mails from the agent listing the home. However, those e-mails are often ignored or deleted before they are opened and engaged with. This is usually because buyers have no obligation or relationship with the agent. However, including a note and a small eGift card can go a long way when trying to covert passive buyers into active buyers. The promise of a reward for choosing you as an agent drives trust and loyalty. Two key factors for converting leads into sales.

If you want to make the most out of your e-mail communication with your clients, digital rewards is your way to go.

Refer-a-friend

Referral programs are one of the easiest way to drive new sales.  Referred sales prospects buy faster, buy more, and have greater loyalty. In fact, people are 4 times more likely to buy when referred by family or friends. Moreover, referrals often result in larger sales transactions; 1 offline word of mouth impression drives sales at least 5x more than 1 paid. Basically, consumers trust those in their network more than any direct sales or marketing can. They rely on word-of-mouth 2x to 10x more than any paid media source.

Perkalead makes it easy for your small business to implement a referral marketing program. The ability to send, track, and reward  customers digitally for sending you new business is indispensable for long-term growth and retention. But the real win here is that your advocates are doing your marketing for you. This allows you to attract new business without wasting extra time and money.

Cross-Sell Existing Customers

It costs 5x more to attract a new customer than it does to retain an existing customer. Plus, after building a relationship, customer spend grows alongside trust. Eventually, loyal customers spend 67% more than new ones, and 65% of a company’s business comes from existing customers. Given all this, it’s essential for any small growing business to use incentives and cross-sell to your existing customers. You can instantly reward your customers for trialling new products or upgrading existing services upgrading their service with just a few clicks. A mere two percent increase in customer retention can lower costs by as much as 10 percent.

More and more, companies are recognizing just how much customer happiness impacts revenue, and they’re focusing on transforming their customer experience to meet modern expectations. Why not take your small business into the 21st century? Sign up for a free Perkalead account now to access great customer incentives and gain access to member exclusive tips and tricks that will help you grow your small business!

2019-03-20T09:51:42-04:00