For many UAE business owners, word of mouth is a great way to source new clients. In fact for the first year of managing my consultancy, I didn’t do anything else. I sourced most of my clients via those that had worked with me and recommended my services to their peers. From a business perspective, it’s a great way to save on marketing and sales costs. However, from a growth perspective, this form of marketing may be limited.
When businesses face a slow period, such as the upcoming summer season, owners will consider other marketing strategies to increase sales. But which is best? Marketing strategies and channels vary from social media marketing and content marketing to trade shows, networking and more. There is no single option that outdoes others in terms of sales generation and no single formula applicable across all businesses. However, any marketing strategy you choose to adopt – be it participating in different conferences or producing thought leadership content – should include the following three factors:
• The ability to generate sales leads
Before you sell your products or services you must be able to generate a number of leads, or potential customers that will be a quality addition to your business – in other words, they will actually buy what you are selling. When my consultancy organises bespoke events for luxury clients to introduce their brand to a new market, or a new product to an existing market, we ensure the event attendees are not only there to fill a certain quota. Because it is not about the number of people at an event, but whether they fit the target audience profile, would be interested in the brand and its history and can be converted into buying customers.
Social media channels such as LinkedIn and Instagram can help you generate a database of potential leads. They are also more cost-effective, and with dedicated personnel you can easily assemble a list of target audience members that fit your business profile.
• Converting potential customers into paying customers
This is about ensuring your marketing and sales functions work hand in hand. Let’s say you are managing a bespoke event for potential customers or you have met them at a conference, how do you then transform them into purchasing customers? Do so by working on a sales conversion formula where you turn those customers who displayed interest in your business and its offering into paying ones. For instance, if you host an intimate preview of your fall fashion collection, and a number of guests display interests in the designs, follow-up with them soon after wards. They can then pre-order your merchandise before it is released on the wider market.
• Attract the new but nurture the old
What many marketers tend to overlook in their marketing strategies is how to retain their existing customers. Some take their clientele for granted and only focus on attracting new customers. Clients’ needs and desires change all the time and if you do not track this, you could risk losing them. I always tell the companies I work with to focus on retaining their old customers and analyse any opportunities they already have before drafting a strategy to acquire new customers.
Your existing clients are familiar with the brand, may have used several of your services and therefore know what it is missing or what its great selling points are. Work on ensuring that their needs are met, as well as seeking new selling points from their feedback.
Ensure that any marketing strategy you adopt has those three variables at heart. Not only will it enhance the effectiveness of your plan, but it will also expose your business to other lead-generating formulas.
Manar Al Hinai is an award-winning Emirati writer who manages a branding and marketing consultancy in Abu Dhabi. Twitter: @manar_alhinai.
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