Boost Your Customer Base Today

Can you really gain a greater market share and additional customers, even during a downturn? It’s easier than you might think. Plenty of people are willing to pay for goods and services right now—it’s just that no one has bothered to ask them.

See for yourself with insights from Mike Amoroso, owner of The Flower Studio LTD in Milwaukee. With these tips for marketing, advertising and selling, you might just be surprised to see how easy it is to woo customers while your competitors are cutting back.

Identify new markets. Now is the time to re-examine your target audience and pinpoint potential prospects for new business. For example, is there an untapped niche that you could be reaching out to? The bulk of The Flower Studio’s business comes from private parties and events, including weddings and funerals. But Amoroso really wanted to establish The Flower Studio’s presence in the realm of corporate events. So when the holidays and Valentine’s Day—his peak business periods—wrapped up, he wasted no time in researching what types of corporate event opportunities existed.

Now, Amoroso and his staff regularly meet with local business owners in person to demonstrate how The Flower Studio can add value—whether it’s providing flowers for an after-hours social event or all-staff luncheon. “It’s a two-way street,” he says. “There’s also an opportunity for the other business to get something out of our collaboration.” Focus on positives rather than negatives—if your prospects can’t afford to do business right now, position yourself so you’ll be the first one they call when they’re in a better place financially or when the need arises.

Gain exposure. As Amoroso has learned, sometimes it’s just as effective to let your products do your talking. At Milwaukee’s Marie Antoinette: Let Them Eat Cake bridal exposition, for example, Amoroso and his staff volunteered to decorate an entire ballroom with elegant flowers that were admired by brides-to-be. “It was a great opportunity to showcase our talent and get our name out there,” he says.

Partnering with local businesses may also help you strategically position your product or service, as long as the partnership is a good fit. Amoroso places arrangements and handouts in local salons where they get ample exposure to the general public. He avoids office environments where few people see them.

Concentrate on current customers. As tempting as it may be to channel all your energy into snagging new clients, paying attention to your existing client base may yield greater rewards. According to loyalty expert Fred Reichheld, just a 5 percent increase in customer retention can boost profits by 25 to 50 percent.

“These are the people that will give you referrals and come back for business,” Amoroso says. He mails clients postcards featuring a store discount every three months. Another way to keep customers coming back? Implement a customer rewards program.

Ask for referrals. “Never underestimate the power of a referral,” Amoroso says. “In every business, they’re extremely powerful because they allow you to grow exponentially in a short amount of time.” For example, if The Flower Studio designs arrangements for a wedding, Amoroso connects with others involved in executing the event, such as the venue manager, caterer, wedding planner and invitation designer, to foster future collaboration and bring in new business. Learn more about obtaining referrals.

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