Every business has to start somewhere. For most entrepreneurs the ideal way to get a business off the ground is to cater to a niche audience. Speciality businesses have a good chance to succeed because they can focus their efforts on a relatively small group of leads who are great candidates for sales and marketing pitches. However, with time, many businesses need to expand in order to survive.
The good news is that it is possible to develop new business opportunities without alienating your core audience. Here are four tips to help you do just that:
1. New Products & Services
Perhaps the most straightforward way to get more customers is to generate new products and services. No matter what your business does, odds are there are some obvious products or services that you could consider adding to your inventory.
For instance, a clinic like the Northwest Surgery Center doesn’t just offer bunion surgery solutions –– they also provide hammer toe and heel spur treatments as well. Or, to use a more general example, Nike doesn’t just sell shoes –– they also produce a wide array of apparel.
The greater diversity of your product line, the broader your appeal can be.
Perhaps your business already has a number of new products, but you still can’t seem to attract new audiences for them. In such a case, your brand may be holding you back.
Specifically, if your brand is too centered around a niche item or idea, people may simply not be aware that your company provides a lot more now. As such, rebranding effectively can be a solid way to let the world know you have more to offer.
3. Invest in Awareness
It may sound obvious, but a customer can’t patronize your business if they’ve never heard of it. Companies looking to expand their base should consider investing heavily in awareness campaigns. This can include measures like social media ads, guest blog posts on popular websites, or even traditional advertising efforts like billboards, commercials, and print ads.
Note such a strategy can be expensive, but done well it should produce significant returns.
4. Deliver Quality Results
Want to earn the business of a new type of customer? Then you have to be willing to go the extra mile for them! By going above and beyond for your clientele, you can drastically improve your company’s reputation and, thus, make it much easier to branch out into new markets.
If consumers already trust your business to deliver positive outcomes, they’ll likely be inclined to follow up! It may not be flashy, but doing good work still matters a ton in the real world.