During the pandemic, there have been some challenges for some companies to get new prospects. Most of them relied on keeping existing customers, and that’s good.
As businesses across the globe have been adjusting to the economical effect of the pandemic, there are also more chances for them to excel in attracting more customers and sales, especially in 2022.
After the survival of the pandemic, customers worldwide have developed an interest in different niches, their needs have changed as a result. Your business needs to position itself to attract new prospects.
This guide shows you how to attract more customers to your business in 2022. You will also be educated on why customers fail to pay on time. Read on!
6 Tips to Attract More Customers
If one of your resolutions for 2022 is to improve the customer base of your business, you will find these useful. Below are six tips for getting more customers.
Talk About your Business
Letting people know what you sell through words of mouth is one great way to attract more customers. If you deliver quality products and services to these customers, they in turn will tell others about your business. This strategy works in a chain form. The more you talk, the more you attract customers who, in turn, will talk about you to others.
Offer Discounts and Deals
Offering discounts and deals is a cheap and effective way to attract customers to your business. This is because people always want to save more by enjoying quality products and services at a lesser price. You can offer a 10% discount or a buy 2 get 1 free promo to attract customers. These customers will tell others about your great discounts and how they have benefited from them.
Organize a Contest
Everybody likes to win. This is something you need to take advantage of when trying to attract more customers. You can organize a contest and reward the winners with awesome but cheap prices. This contest will create a buzz, especially if your business is on social media. The more attention your business gets, the more customers it attracts.
Have a Social Media Presence
Having a social media presence is going to influence your business positively. Facebook, a social media platform, has 15% of the world’s population as its registered members. This means having a social media presence will allow you to reach people to whom you can’t have access physically. The more people you can reach, the more customers you attract.
Advertise your Business Online
People prefer to follow news websites than read newspapers. A lot of businesses have realized that and are investing more money in online advertisements. When you advertise your business online, more people will know about it, which translates to more customers.
Offer your Products and Services for Free
Everybody loves free stuff and giving out your products and services without collecting money in return will increase your reach. When a lot of people who haven’t heard about you in the past, realize the existence of your business, it will translate to more customers. However, the free product or service should only last for a short time.
Why Customers Fail to Make Payments on Time
After attracting customers, you need them to make payments. This is because, without payments, there will be no sales. Below are the reasons why customers fail to make payments on time.
Outdated Payment Methods
Customers may fail to make payments on time because of inefficient payment processing tools. In addition, if these customers are using outdated payment methods, you won’t be able to receive the money on time. Sometimes, it may take days before you receive a wire transfer, or the cheque sent by the customer might get lost in the mail.
Insufficient Data
You will fail to receive payments on time from customers if they do not have the required data to process the payment. In a case where the data the customer has is incorrect, the payment will be sent to another person instead of you.
Absence of the Right Tools
The invoice you send to your customer may get lost in a lot of mails and he or she will forget about it. This happens when your customer doesn’t have the right tools to process invoices and it will stop him or her from making payments on time.
Slow Payment Gateways
If your customers have to pass through a slow and complex approval process to send payments, then you won’t receive them on time. However, if the approval process is easy, your customers will make payments.
Conclusion
The dream of every business is to grow and the only way you can do that is by making more sales. To make more sales you need to attract a lot of customers and ensure they make payments on time. Finally, understanding how to calculate your Days Sales Outstanding (DSO) will improve your profits. Therefore, if you want to understand what is DSO tap the link.
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