How to maintain a customer base
Think back to when you first started your business, I am pretty sure it was in response to market demand. Or were you following a childhood dream or a passion ?
Many business owners have enjoyed consistent growth by recognising what their customers demand and meeting that demand with quality service. They don’t put much effort into strategising the long-term future of the business or marketing it to draw in more customers.
Unfortunately, in event of low demand or stagnation, they are faced with a problem.
If the competition sets up shop with a better product, your sales could decrease significantly.
How do you stay fresh while maintaining a customer base?
The answer is to innovate. Come up with new ideas and offer new products or services and ensure it dominates the market.
Provide extraordinary value.
No matter what product or service you’re looking for, there’s always competition between different companies. Choosing one option can set it apart from others!
It’s in every business’ best interest to identify the consumers that will buy from them.
Consider Domino’s, they stormed the market in just a few years with their fresh take on pizza. Why did this chain of fast food restaurants become so successful in an overcrowded market?
Question Question!?
Customers were indifferent to the actual pizza offered by the company. It was just the same as other pizza houses.
They were able to dominate the market by adopting one major strategy. They created a product that dominated the market and spring boarded by providing fast hot pizza, targeted specifically for hungry college kids.
Treat everything you do as a means to create value. Customers and prospects don’t buy based on the price, they buy based on what they receive in exchange for what they pay for.
Adding value to your marketing strategy is crucial if you want to stay relevant in this competitive market. One way is to provide extra services that you might not normally offer, or bundle some of the services together into a package that’s more price-friendly.
Like any other element in your marketing-toolkit, it’s designed to attract and keep new customers. It might even help retain some of your existing ones.
If you don’t think about the value you offer, your business will start to loose customers over time. Your competitor will be constantly innovating & offering great new changes that you don’t..
Ultimately, your customers will demand more in order to stay loyal. They’re essential for your business growth.
Everyone can add value to their business. And adding value doesn’t have to blow your marketing budget or take up hours of your time. There are many ways to enhance your business in the eyes of your clients.
