Reducing Costs While Increasing Business

Market research is always going to be an effective way of streamlining your business. Focusing on you target markets and your target customers lets you know more about their wants and needs and increases your chance of selling more to them and to new customers.

Use your database for direct marketing. Database marketing is an easy way to increase your sales to people or businesses that you have already done business with.

E-newsletters are a fast and effective way to stay connected to your customers, and they cost a lot less than direct marketing.

The 80/20 Rule states that 80% of your business comes from 20% of your customers, and that for maximum results, you should concentrate 80% of your marketing budget, time and energy on getting more business from this 20%.

Word of mouth happens when a customer refers other people to your business because you have provided good service or have quality products. For many businesses word of mouth is one of the best sources of new revenue.

Traditional advertising is expensive and makes it difficult to track ROI. Social networking sites, blogs, and viral marketing, however, allow you to connect with your customers in a more direct way.

A mention of your company in the right media can help deliver your marketing message for cheap.