Expanding and Diversifying Your Beading Business Client Base
Once you have established your beading business and have figured out a way to maintain your overall bottom line, you might start to think about expanding your client base. While it's important to hone in on an individual market for your goods and services, there's no harm in taking a step outside of your comfort zone in order to further benefit your business.
"Getting attention from the media is like getting free advertising on TV, in the newspaper, or via social media channels, allowing you to reach not only your current audience, but also people who may have never heard of you or your product," Wendy Duval, public relations and communications manager for The Vermont Teddy Bear Company, told the news source.
|As a jewelry maker with a niche audience, you might consider your customers to primarily be middle-aged women and/or men who are looking for gifts for their wives. However, have you thought about other demographics that might be interested in your products? Perhaps you want to launch a contemporary line, which could draw in young adults. Thinking outside of the box can help you turn a larger profit and increase your notoriety.
While it may seem like an easy enough task, it takes a certain amount of planning to achieve your goal of reaching out to other target markets. Inc.com says there are a few ways that you can diversify your client base and gain additional sources of income.
First, consider increasing your efforts on the public relations end of your small beading business. Oftentimes, it's this type of marketing that can help you reach out to potential clients over time.
While expanding upon your public relations efforts, it's also a good idea to try and make your products seem relevant. For instance, push your goods as a great gift during the holiday season to attract further interest through your marketing campaign.
Next, advance your social networking and internet presence. Everyone from jewelry-making enthusiasts to jewelry collectors use the Internet to find goods that pertain to their interests. Utilizing the internet and putting in a valiant effort to heighten your social networking profiles can help you gain potential customers.
If you have a Facebook or a Twitter account, you can reach out to a younger client base. Offering special discounts and deals to those who regularly visit or follow your accounts is also a great way to get consumers to stick around.
But don't forget about one-on-one marketing, too. Getting out there and speaking to potential clients in public forums is an efficient way to bridge lasting relationships with potential customers.
"In a time when social media is king, real life, face-to-face networking goes a long way," Caroline Nuttall, publisher of Charlie Magazine, told Inc.com "Speaking engagements are a great way to network, which allows you more of a mass appeal."
Another way to gain interest from potential customers and expand your client base is to offer coupons, in addition to the standard discounts and sales you might provide at your storefront or online. Although it may seem like an old, worn-out tactic, many people have turned to coupon-clipping for a number of reasons, according to Entrepreneur.com.
"Consumers are more sensitive to promotions, and marketers are going to be looking for innovative methods to appeal to them," Matthew Tilley, director of marketing at promotions logistics company Inmar, told Entrepreneur.com.
As the economy continues to suffer, many Americans are still working on rebuilding their savings and looking for ways to cut back on their monthly expenses. As a result, more people are taking out their scissors and flipping through the Sunday newspaper to find valuable coupons that can save them money.
Coupons may become an especially efficient way to attract new customers during certain times of year such as the holiday shopping season. Jewelry and jewelry-making items make a great gift, and consumers may come to you to look for the perfect present for a loved one. Why not reward them with a coupon or a special discount? Doing so can help you build a relationship with these individuals and keep them coming back for more. If they have a positive experience, they may even help attract more people through word-of-mouth.
Although you may be content with your customer retention and the clients you're currently working with, there's no harm in potentially expanding your profit by reaching out to more people. Having a diverse audience will also give you more leeway to develop a wider variety of beads and jewelry to cater to demands in the future.
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