Develop that extra Edge

Smart business people know it's important to look for the extra “edge” that will develop new business, ensure you remain ahead of the competition and keep existing customers satisfied. Every so often, it's important to take a break from the daily activities to examine your business strategies and see where you might be able to develop that “edge”. As you look back over the past 12 months, it may be the ideal time to consider where you can increase sales, put together a more cohesive marketing plan and broaden the bottom line. The following may help:

• Keep a close eye on trends and changes in local, national and international demographics. Where might opportunities open up for your business? Where could there be a greater chance for sales or new services you could provide? What is important to customers in these areas?
• Track each customer. Did you get the customer through a referral, cold call, direct mail shot, or an advertisement? After a time, a pattern should emerge and you will be able to see where it pays to focus your marketing efforts.
• Prepare a letter or promotional piece that can be sent to people within walking distance of your business. If you're located in a large professional building or a business complex, you may have a potential customer gold mine right under your nose.
• Go to the source. Consider asking your existing customers for referrals and, where applicable, offer an incentive to do so that will both promote goodwill and express gratitude.
• Join business organisations to gain exposure, also to network with others whose aim is likely to be the same as yours - to grow their business quickly, efficiently and profitably.
• Talk about your business all the time. It truly is a small world. You'll never know when you'll meet a potential customer or someone who can help you further your business goals.