Page 27 - 101 Ways to Market Your Business

101 WAYS TO MARKET YOUR BUSINESS

business can do what you say it can, then commit to a
weekly budget to market it.

Do you want to find new customers or
keep existing ones?

To put it bluntly, it costs a lot more to find new customers
than it does to keep old ones. Figures vary from industry
to industry but it is estimated that finding new customers
costs nine times as much as keeping existing customers.

The moral to this story is for you to have a good,
honest look at your business and ask yourself the following
questions:

1. Do you offer good service and value for money?
2. Do your customers keep coming back or do you see

them once and never again?
3. Do you stay in touch with your customers after they

have made a purchase?
4. Do you reward customers for being loyal to your

business?

Complacency can be a big problem, especially for busi-
nesses that have been established for more than a few years.
All industries are highly competitive and more than ever
we all need to be smarter. One of the smartest business
strategies is to look after your existing customers. Nurture
them, encourage them to spend more with your business,
continually ask them for ways to improve your current level
of service and range of products. Stay in touch with your
customers, reward them for being loyal and they will stay
with you for many years.

The story of a Sydney cafe comes to mind. All regulars
at this coffee shop have their own mug. They are quality
mugs with the individual’s name printed on the side and

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