Growing your Business with Marketing

To help grow a client’s business, VS Marketing Services work with the management team and examine a range of key questions. You could equally apply these to your own business:

 

  1. What is unique about your business that your customer values and how can we communicate this?
  2. How we can increase retention and growth of existing customers and create referrals?
  3. How can we reactivate lapsed customers?
  4. How can we find new customers, profitably?

 

It’s essential to understand why customers buy from your business, what they love and hate about the business and what motivates their need to buy. These questions are fundamental and their answers will create more questions. On the basis that existing customers should be the easiest to sell to, as they already know and (probably) trust the business, you should look for ways you can sell more to these customers and work out the best methods to communicate them. Also, there is no point in bringing in new customers if the existing ones are fleeing for the exit because of a service or quality issue. Identify and fix those issues. Getting the most value out of existing relationships is a key priority.

 

Lapsed customers may yield gold for a business. Nearly 3 out of 4 customers stop buying due to indifference on the part of the seller. The product and service may be absolutely fine but if another seller shows them more care and attention, the customer may drift away. Looking hard at the lapsed customer list, and putting in place a process to encourage them back, is always worth some time.

 

Customer growth and retention for businesses should be considered a process. Cover every point where the customer interacts with the business. Right from how the telephone is answered to the presentation of the premises (where customers will visit); how the product or service is delivered, packaged and labelled; pricing; ordering processes (online and offline); how invoices are sent and payment enquiries are dealt with and how complaints are handled: these are all the concern of the marketer. The question to ask constantly, of every aspect of the business that touches the customer, is how can this be improved to make it easier, perhaps more enjoyable even, to allow the customer to buy more?

 

Customer acquisition falls into two parts of a process:

 

  1. The attraction and discovery of new prospect contacts.
  2. Communicating to prospect contacts who are not yet customers.

 

Finding new prospect contacts who you can engage with is a bit like fishing. While I am not an expert at fishing, I have done enough to know that fish come in all shapes and sizes and are found in many different locations. Onshore, offshore, rivers and lakes; each environment has its own fish species and each type of fish needs a different lure to attract them. A salmon is unlikely to be attracted to mackerel feathers. I also know that it takes about the same amount of effort to catch and land a big fish as it does a small one. But guess which one is more rewarding?

 

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