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Attracting New Customers

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Photo Credit: Christopher Michel, Creative Commons

Every business wants to expand by drawing in new customers. As a business owner, you experiment with tactics to bring more potential customers through your doors and convert those first time patrons into loyal clientele. Special offers and promotions, mailings, online newsletters, referrals and loyalty programs, a great website, and other advertising methods help get the word out about your business’s services and products. But how difficult is it to actually gain new customers? According to the White House Office for Consumer Affairs, the probability of selling to a current customer is 60-70 percent, while selling to a potential customer is only 5-20 percent. Gaining a new customer is 6-7 times more expensive than maintaining a current customer, but a returning customer is worth up to 10 times the amount of their first purchase.

Although landing a potential customer is much more difficult than cultivating existing customers, every business needs to grow its customer base and reach out to new markets. Marketing specialists explain that attracting new customers comes down to understanding your business, and understanding your target market. 1.) Who is your target customer? Be specific about the background, age, and interests of your target customers. 2.) Understand the needs and wants of your target market. What do your customers like or care about? What do they want? What do they value? 3.) Understand your business so you can clearly communicate the value of your services and products to potential customers. By showing prospective customers how your business fulfills their needs and wants, you can convert patrons into loyal customers.

Reaching prospective customers is tough, but there are many small ways to attract potential customers and show them the value of your small business. Placing an ATM in your business is one way to bring in new people. An ATM can drive patrons from nearby businesses into your store to use the machine. Your business not only earns revenue from the ATM transaction fee, but ATM users are more likely to spend their money soon after withdrawing cash in order to break down larger bills. ATM users spend up to 23 percent more than non ATM users. Store sales also increase by up to 20 percent after the addition of an ATM.

If you would like to have an ATM at your business, connect with America’s ATM, a company that provides small businesses with ATMs, financial service kiosks, and marketing products. America’s ATM has a range of ATM programs including the Free ATM Placement Program, the Free ATM Partner Program, the ATM Processing Program, and the ATM Reseller Partners Program. Call 877-475-1104, or contact America’s ATM online at http://americanatm.com/contact-us/ to get started.

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