The men’s grooming industry is estimated to reach $26B by 2020. This trend translates into higher chances at making large profits. It also means an increase in competition, and an immediate need for barbers and hairdressers to up their game.
Here are a few tips on how you can increase your customer base by 10X and boost sales.
Introduce Loyalty Programs
A study shows that increasing customer retention by 5% can bump up your profits by more than 25%.
You can take advantage of this by introducing loyalty programs to keep their returning customers satisfied.
Start off by offering small discounts and simple perks for returning customers such as: ‘get two cuts in one month and get 5% off on all services for the next month’.
You can also give them the option to bring along a friend for an additional discount. For example, offer them a 10% off on two haircuts for loyalty card holders.
In-person meetings bring you a close rate of 40%, so don’t shy away from going out and being your own cheerleader.
Get insights into your target audience’s haircut-related concerns and show them how your business is different.
Discuss their past experiences with other hairdressers and then explain how you would’ve tackled the situation for a more satisfactory outcome.
Use Influencer Marketing
Businesses are making $6.50 for every $1 spent on influencer marketing – a cost-effective marketing strategy to create buzz in your audience circles.
Consider this: Who are the key opinion leaders in your industry? Who do your prospective customers follow and idealize?
Influencer marketing is a great way to reach to your prospective customer without seeming too eager or sale-sy.
Moreover, people prefer word-of-mouth over branded advertising. Studies have found that 49% of consumers take recommendations from opinion leaders.
Gather all bloggers and influencers that your prospective customers trust and engage in influencer marketing.
Use Social Media
Designing and branding is extremely important for the growth of your business because it differentiates you from your competitor.
Social media is a free yet impactful marketing tool, which can help develop your business into a brand and get you more business with minimal to absolutely zero initial investments!
Create a Facebook and Instagram Profile
For example, you can put together a gallery of your best work on Instagram and encourage customers to check out your services and deals.
Engage with your customers through comments and get regular feedback on your services on social media. Give credit to followers who give great ideas for your business.
You can also run a competition on social media to boost engagement on your profiles and pique prospective customers interest. If you decide to offer free services to your contest winner, ask them to publish a review on your page.
You can also hire a marketing solutions agency to help you get maximum mileage from your campaigns without breaking the bank.
Fill The Gap
Run an in-depth competitive analysis and see where your competitors are falling short. Has your competitor missed out an untapped market?
Offer services that cater to this market and carve a niche for your business before anyone else. Whether this means bringing in a hair expert on the weekends or a dietician every day, explore new business offerings that can give you a competitive edge in the industry.
Moreover, implement a smart SEO strategy to rank higher than your competition on search engine result pages and get better visibility.
These tips will help you up your customer base and eventually sales in less than three months. Your goal should be to make as much creative noise as possible and apply best marketing practices to get optimum results.