Building, growing, and adapting businesses can cost a lot of money that you may not have. But without growth, how will you bring in the money or expand your business? This is a tough situation to be in, but we have a few ideas for you to use so that you can build your coffee business in a cost-efficient manner. Though each business is different, the tips we have are general enough to work for a wide array of companies. Alright, let’s get started.
Keep your coffee simple
Though it is fun to add flair and uniqueness to your offerings, it can add unnecessary costs to your already growing bills. So, what is a cost-efficient way to grow your business without making too much of an adjustment? Giving your coffee grounds the ability to travel and be made at home is a great place to start. By getting Intelligent Blends stick packs, you are giving your customers a way to take your coffee home with them or enjoy it on the road. Customers can also send it to their friends and family across the globe. Though this is an additional production cost, the money you can make back on it has the possibility to be well worth it.
Build a social media following
One of the easiest ways to build your business at no cost at all is to build up your social media following. By engaging more with your customers, you are making your business more relatable, accessible, and interesting. You can create behind the scenes videos, upload informative posts that link to your newly designed Wix website, or ask for feedback opportunities all through your social media channels. It can also help you to announce new menu items and create interest in what’s new and happening within your locations. Plus, if even one customer shares your page, you have the possibility to reach new customers. All you need is to invest some time into posting and sharing, and you can build your following in no time.
Give out promo codes
You may be thinking, “how does giving a discount earn me more money?” Well, when you offer promos, you influence your customer’s decisions. A coupon gives them an excuse to come in and shop at your business. When most people are given a discount, they end up buying more than they originally planned. Plus, it opens the door for you to get new customers in as well. Everyone loves a good discount, and in the long run, it doesn’t cost you too much to do so.
Create a reward system
Loyalty should always be rewarded. So, when your customers are frequent, they should be shown appreciation for their business. By giving them stamp cards or creating an app to calculate their frequency, you can keep track of their loyalty and reward them from there. Rewards programs are part of the long game. Though it may seem silly to give away a free drink or treat here and there, it builds trust, increases brand loyalty, and shows appreciation for those that take part in the programs. And when a customer feels all those things, they are bound to give you more attention, which in turn makes you more money.
Form local partnerships
Partnering with other local businesses or communities can open your business to revenue opportunities you may not have thought of yet. Getting or giving donations, sharing a portion of proceeds, or highlighting other businesses can put yours in the spotlight. Supplying coffee to local hospitals or taking drinks to a neighborhood police station with a thank you note are cost-efficient ways to give back and gain new loyal customers.
Use the tips above to help you build your coffee business in a cost-efficient way! We wish you luck as you continue to grow your business!
Image Credits: Myriams-Fotos, Markus Winkler
Like this article? Share with your friends!