The aim of almost every business is to make money. Of course to make money it means they need customers to purchase their goods and services. And to get customers they need to be able to market themselves.
This is where many small businesses struggle because they lack the resources of larger businesses. But just because you don’t have a big budget and a team of people dedicated to marketing doesn’t mean you are automatically going to have a hard time.
There are things that small businesses can do that are within their capabilities to drive customers to their businesses.
Today I want to share with you a simple marketing strategy that every small business has at their disposal. This is a simple strategy that can be utilized with one of the core components of a product or service.
Use The Price Of Your Product Or Service As a Marketing Strategy
The price of something can be one of the most important factors in whether or not someone purchases it. The first obvious thing that can be done with the price of a product is to lower it. The reason for lowering might be that your product is actually more expensive then other comparable products without a difference in perceived value. So the current price of your product might not be doing enough to attract customers or to getting them to return.
The second reason for reducing the price of something is to do it for a limited time to attract customers. So doing things like running a promotion, sale, or limited time offer can help drive customers to a small business.
The second thing you can do with the price of a product or service is to increase it. Maybe the cheap price of what is being offered is giving the signal of that item being lower quality, and so you want to make sure customers see the value in what you are offering them.
Another strategy behind raising your price is to offer something unique or exciting. You want to set the price so that it gets people’s attention and you also want to offer value that matches it. For example it a normal hair cut is $20, you can offer a $50 hair cut. The value that comes with this unique offering could be that a person can come in once a week for one month and get further hair cuts.
As you can see these are simple strategies that don’t require a lot of money or a team of people to put into action. I hope these help you or give you further ideas on how to get more customers.