Top 3 Business Success Factors for Home Business Moms
“How do I achieve home based business success?” That is the question which home business moms should be thinking about each day. I mean, the main purpose of starting a business is to make money, isn’t it? There are so many different marketing plan examples out there today and a lot of home business moms waste time and effort on those which do not bring the desired results. However, there are three business success factors which you can utilize to increase your small business success rate.
Secret #1: Growing your customer base.
The first of the three business success factors is growing your customer base and there are a few ways to do that. You can use email distribution or send out fliers regarding your business. You can also aim for the places where your target customers are most likely to visit. For instance, what type of magazines do they read? Which websites do they visit on the Internet? Then you can place your advertisements on those “spots” to gain new customers. Remember that it is important to continuously get new customers but at the same time, do not neglect the needs of your current customers. A lot of companies often focus too heavily on growing their customer base and as a result, let their customer service to old and current customers deteriorate.
Secret #2: Increasing the size of the purchase.
It is crucial to not only sell one product but instead, always try to up-sell your customers or even ask them if they might be interested in another product similar to the one they are buying. Basically, maximising your customer’s buying potential means maximising business success for your company. This is widely practiced by fast food restaurants where they ask you if you would like to have fries with the burger you ordered? Or if you would like to increase the size of your soda to a Large for just an extra dollar? Or if you would like to get two banana pies instead of one for only 50 cents more? Or instance, if you run a hair salon from home and a customer walks in for a trim, you can ask if they would like a hair wash with that and a hair treatment session as well. Furthermore, if you are selling a product which requires servicing then you can include monthly servicing plans or even warranty plans for your customers to add on as extras.
Secret #3: Increasing the frequency of purchases.
This method is crucial in determining your small business success rate. You should remind your customers when they will be running low on supplies. For instance, most printers have a reminder which pops up on your computer screen every time the ink supply is low. You can try to apply this into your current home business marketing techniques. Other than that, you can use email marketing to keep in contact with them or even send them a Birthday card or Christmas card every year so that they will remember you when it is time to repurchase. When it is near Christmas time, send them an early Christmas card and include a leaflet or flier regarding your current products so they may purchase them as Christmas gifts for relatives and friends.
Those are the top 3 business success factors to making more money in your business. You, as a home business mom should incorporate these factors when you are preparing a business plan. You will be able to earn more with your home business if these strategies are implemented correctly into your marketing methods. Therefore, spare a moment or two to think about how you, a home business mom can apply these tips into your work at home business.