Growing a Sustainable Customer Base

Customers are what keep a business alive. Coming up with a business idea, doing research, making plans, and executing the business- this should all be done with customers in mine. Once the business has identified a problem to solve for the customers, has understood its niche market, and has decided how to reach out to customers, it can be up and running. But many fledgling businesses run into a problem here. Days and weeks, and even months go by, but only a few customers have come in, nowhere close to the targeted numbers. At this point, questions start to arise. The product is good, the shop looks nice, everything is all set. So why aren’t customers flocking to the business?
People love businesses for different reasons. They may love a business for the quality of the product. They may love a business for its fair price. They may love a business for its reliability. They may love a business for its brand. They may love a business for its eloquence and style. For whatever reason customers might love a new business, it should be able to bring in enough of them to quickly grow. So the question becomes: how can a business grow their customer base enough to succeed?

Cold calling works
Cold calling exists for a reason. In fact the phone directory on the table has a lot of power. Its value starts not when cold calling begins, but from the instant that the business is conceived and research begins. It helps identify target customers and be clear about the niche market. It might even help bring in potential customers before business kicks in. It is essential to prepare a customer base that includes potential companies that may readily accept a new business’s products or services. It might also be better to use CRM software that is available free or cheaply online.
Cold calling may seem satisfying at first when speaking to two or three companies that respond well. But after some more calls it becomes more frustrating. Some companies may treat cold callers badly, causing callers to feel discouraged or to lose confidence. This pattern continues until fear prevents any more calls. It is necessary to check this behavior before it happens.

One way of getting around this is to prepare ice breaking speeches and other phrases that might help easy communication. Businesses should identify common scenarios and be prepared to come up with interesting and short questions and answers. These especially will help if telemarketing software is used. Talking to customers will instantly become second nature. Another way to ease frustrations is by recording follow-up calls, either through voice recordings, or text summaries. This will save time and make communication more precise for subsequent calls.

Businesses shouldn’t make the mistake of chasing difficult and uncooperative customers. They will drain energy and time. Otherwise, sales targets may lag back and the company may lose lots of money. Results will accrue when businesses develop good communications methods and understand when to stop chasing leads.

Referrals work better
Cold call customers are complete strangers. A number of follow-ups are needed to get to know them and others in order to close a deal. The process is a bit lengthy and costly. Using referrals makes the process easier and less awkward. If businesses find leads that are interesting but do not turn into customers, they should be asked nicely if they know any other business that might find the product or service beneficial. If deals are closed with customers, employees should take their time and try to know the nature of their business well, extracting as much information as possibly about their industry and making sure to ask for referrals.

Businesses should use different tools when reaching out for referrals, like surveys or questionnaires. They may also request recommendation letters and testimonials from their best customers. This will help them get to know their niche market very well, and it extends and makes their customer base richer.

Relationship marketing works best
Two of the methods discussed are a bit traditional and can be a bit challenging. Although businesses will be able to secure a considerable amount of customers from these endeavors, their potential to turn leads into customers is limited. It also lacks the potential to retain customers longer. Relationship marketing is a perfect choice to get customers and make them stay longer. Businesses will be able to find many of their best customers using this approach. They may find these customers from cold calling and referrals. They may also find them from their support system.

Try to satisfy the needs of these customers better. Businesses mustn’t hesitate to help them with all their power, and take time to understand their company and their industry. Businesses should try to involve them in company meetings and discussions about future products and services. These are the customers that shouldn’t be missed. They turn a mission into a reality and can make company a success.

Brands can’t be out of the equation
So once someone comes up with a business idea and has a blueprint for its execution. They are familiar with the expertise and effort it’s going to need. The next step is figuring out how to become inspired and stay motivated to the end, and how to make customers ask themselves if they can be able to get by without the service/product. That is branding, and it cannot be left out of the equation.

Wishes and goals for the business can be put into the name, logo, interior and exterior design, paper and digital promotional and corporate identity materials (of course with the help of a professional designer). This is the first step to turning customers into a family.

Businesses should always serves their brand. A brand should tell a company’s story, and always align it with the mission and culture the company wants to build. Customers respond to brand. They will notice a strong brand and grow in number in a short period of time.

Smart marketing
Building a marketing and sales team should be very deliberate. Businesses should put in place a good marketing and sales plan, and encourage their teams to be creative about how the plan is executed. Teams should also be closely supervised so that sales goals are not missed. A good sales team is an integral part of creating a loyal and satisfied customer base.

How a company is built defines the customers. How customers respond and react defines a business. Taking care of a customer base while building a business is imperative to creating a company that sustainable and succeeds.

8th Year • Jan.16 – Feb.15 2019 • No. 70