Owning a small business doesn't mean sacrificing a large income. Charging low prices may attract a lot of customers, but the people who want discounts and low prices are always looking for the best value. To keep those clients, you'll be stuck in a downward spiral, with a business model that's dependent on consistently lowering your prices to stay competitive. You'll be forced to reduce your expenses, employees and ultimately, your profits. Making your company attractive to high end clients means doing less work for more money, while creating a brand that is well respected and admired. However, stepping into a higher market often means competing with seasoned professionals with years of experience and local clients that are fiercely loyal to them. If you're thinking about making the leap to a customer base with higher incomes, here are a few tips that can help get your company started in the right direction.
The human brain is prewired to associate value with cost. Someone who prefers luxury won't expect premium results if they see rock bottom prices. While it may seem like charging the cheapest rates in town will bring in more customers, you'll be working harder for less income and any clients you acquire will most likely be loyal to their bank accounts, rather than your business. When you work with high end clients, they are willing to pay top dollar if they know they are getting the best quality product or service available. Though it may feel uncomfortable at first, pricing high is essential to attracting premium clients. Just remember that top prices are a promise, and you'll be expected to deliver accordingly.
If someone is paying a higher rate, they won't be happy if they feel neglected. High end clients are used to getting the royal treatment from experienced, professional companies. Don't make them leave messages for a week before you return their phone call. While it may cost extra, hiring a secretary to answer the phone, subscribing to a call center service or paying an assistant to monitor emails and social media will increase the chances that your new customers will be satisfied with their product or service and more likely to recommend you to their friends.
Anytime you make changes to your brand or customer base, you need to reflect on the audience you are marketing toward. It's important to put yourself in their shoes. Where do they live? What kind of jobs do they have? What kind of lifestyle do they embrace? Think deeply about their needs and their struggles, and you will be better able to provide the kind of solutions that will bring maximum value to their lives. If you're only after their cash and not willing to provide quality service, then the customer will notice. You will come across as inauthentic, and no one wants to pay premium prices for subpar treatment. Understanding your customers is the best way to create a relationship with your new client base and develop a loyal following for many years to come.
You can have the best services in the world, but if your website and social media accounts are below standard, you might be turning away your ideal customer. If you want to be perceived as the best in town, your website needs to be the best as well. Everyone knows that to attract high end customers, their storefront or office needs to be presentable and attractive. Your website is often the first experience that a new customer will have with your business and should be given the same consideration. Therefore, your site should be user friendly, visually appealing and easy to use on all devices. It's also important that your website makes it to one of the first pages of popular search engines. Having a top search engine ranking will ensure that your company is seen by more people. After all, having the best service won't matter if your ideal client never finds your website.
If you're interested in attracting the best clients for your small business, contact the team at iBoost. We have many years of experience helping companies like yours improve their SEO and increase their revenue through digital marketing. Contact iBoost today to find out how we can help you do the same.