Today, 10.6 million American adults age 65 and up are still part of the workforce. While many work in traditional jobs, others choose the road of entrepreneurship. If you’re in the latter group, finding ways to boost your business is essential. Thankfully, a solid marketing strategy can help you do just that. If you’re ready to propel your company toward success, Designed Retirements offers some marketing tips that can help.
Start with Education
Unless you previously had a career in marketing, learning the ins and outs of entrepreneurship is best understood through education. By heading back to school and getting an online business degree or certificate in programs like marketing, business management, or leadership, you will help ensure you have a solid foundation.
You could also consider going further and earning an MBA to sharpen your business acumen. You’ll explore marketing concepts, as well as hone skills relating to research, strategic planning, and accounting. Additionally, by choosing an online program, you’ll have enough flexibility to maintain the critical work-life-school balance, allowing you to do it all.
Make Customer Referrals Easy (and Rewarding)
If you’re looking for a low-cost option to increase sales, a customer referral program is best. It’s simple to implement, highly effective, and usually comes with little or no associated cost.
Eighty-four percent of consumers trust a recommendation when it comes from someone they know, making them more likely to follow through and make a purchase. Plus, referred customers have a 37 percent higher retention rate, leading to more repeat business. Additionally, referred customers are four times more likely to refer others, creating a self-perpetuating influx of new shoppers.
By creating a straightforward customer referral program, you make it easier for customers to recommend your business to others. Whether it’s a simple online portal or a link they can share, it allows them to become your biggest advocate.
If you attach the referrals to an incentive program, you may also heighten interest. Plus, if you make the incentive a discount on future purchases, you may grow repeat business, leading to even more sales.
Post a Coupon on Social Media
Social media is an exceptional low-cost marketing tool. It lets you share content, engage with customers, and promote your online presence all at once.
If you want to boost your reach on social media, consider publishing a coupon in a post or ad. That may increase the odds that users will share your post with their network, drawing more attention to your company.
You can even use the coupons to see which ads are most effective. By using a different code on each ad, you make A/B testing easier. Whichever coupon gets the most use is likely the most effective, allowing you to learn from the success of that ad and create new ones that are more likely to increase engagement.
You could also test different kinds of discounts using an A/B testing approach to see which options resonate with customers. That way, you can present offers that genuinely improve sales.
Stay Organized Along the Way
Organization is critical when you’re running a company. If you can’t find the information you need quickly, productivity declines. Plus, a lack of organization could harm customer relationships if the document, part, or product you’re having trouble locating prevents you from offering the best customer service or losing a sale.
A straightforward way to stay organized is to ensure your digital files are correctly stored and sorted. Start by creating a logical file system, using clear names for both folders and documents. Additionally, consider compressing your files into PDFs. That way, they’ll take up less room in your hard drive or cloud storage system, and they’ll also be easier to share.
Best of luck in your endeavour and remember keeping the customers’ interests at the top of the list is first and foremost, the primary road to success.