When it comes to getting new business, what do you mean to beg, borrow or buy?
New business leads, where do they come from?
We are talking about how to get new customers through the door. There isn’t much difference between the brick and mortar store and an online store, if you know your audience.
Beg – for new customers – Referrals from current customers. If you provide fantastic customer services, a great value for the amount of money charged, you don’t even have to beg. Your customers will provide the new leads for you. All you have to do is to follow up. This customer is almost always ready to buy. This is almost always free.
Borrow – In your brick and mortar store, think of this as a coop. A group of like minded entrepreneurs together and trade customers. If you are a carpenter, make friends with the air conditioner representative and trade customers referrals. A great way to do business and get new customers. This method is also free, however, you may have to adjust your prices for the market. The customers you get from this method are already in the buying mode.
Buy – sometimes the quickest way to get new customers and also the most expensive. Think of Google ads, Yellow Pages, Facebook Ads, local newspaper, magazine, mail-outs. This is a great way to get your business noticed and get new customers. For the brick and mortar store, you still have to qualify your leads.