There are many ways to win new customers. Invariably
it's cheaper to win-back ex-customers than it is to develop new ones.
However, it may not be possible if you are venturing into a new market
or developing a new innovation.
Develop techniques for getting your message across effectively and frequently to a selective target audience. Most companies fail to build the optimum 'customer profile' and 'market intelligence' is usually thin on the ground.
Winning new customers and keeping existing ones are two separate challenges. Gaining custom and creating loyalty is becoming increasingly difficult, especially in a price sensitive market environment and with the Internet readily available to compare and contrast your products or services with the competition.
Allocate sufficient resources for customer retention strategies - even companies such as Readers Digest acknowledge that up to 30% of customers may stop using their service every year - retaining an extra 5% of customer every year soon adds up to a significant increase in business - it's is a cumulative effect!
Develop techniques for getting your message across effectively and frequently to a selective target audience. Most companies fail to build the optimum 'customer profile' and 'market intelligence' is usually thin on the ground.
Winning new customers and keeping existing ones are two separate challenges. Gaining custom and creating loyalty is becoming increasingly difficult, especially in a price sensitive market environment and with the Internet readily available to compare and contrast your products or services with the competition.
Allocate sufficient resources for customer retention strategies - even companies such as Readers Digest acknowledge that up to 30% of customers may stop using their service every year - retaining an extra 5% of customer every year soon adds up to a significant increase in business - it's is a cumulative effect!
