Posted March 6, 2012 3:11 pm by with 0 comments

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Exp’d SMB Seeks Newbie for Profitable Relationship

If interested, come to my restaurant at noon and you can buy lunch.

When it comes to hyperlocal advertising, 49% of small business owners said they do it to find new customers. The data comes from Street Fighter and eMarketer put together this nice chart so you can see it at a glance:

Every business needs new customers and not just to grow. Some businesses need new customers just to stay afloat. Retailers that deal in baby goods need a constant supply of new parents. Textbook dealers rely on a new crop of college students every year.

Yes, it important to cater to your current clientele and provide them with excellent customer service but you have to keep your eyes roaming for new prospects. And that might mean making some changes to your business plan in order to attract a wider, richer audience.

Look at McDonalds. In 1958 they hit the 100 million burgers sold mark. I’m sure at that moment they never thought about selling salads or yogurt, or kids’ meals with apple slices instead of fries. Times change and McDonalds has been smart enough to change with it. The secret to their success is they haven’t changed so much you don’t recognize them. You can still buy a hamburger, fries and a Coke if you want, though admittedly you will no longer get change back for your dollar.

The relationship you have with your customers is kind of like a romance. You have to court them and treat them with respect. But that doesn’t mean you shouldn’t see who else is out there.