Increasing the customer base of a business involves a combination of retaining to existing clients while also reaching out and earning the business of new clients. Many companies rely heavily on a combination of contracted customers who are committed to making regular purchases, casual customers who purchase products whenever they wish, and first-time customers who are trying out the goods and services the company has to offer. There are several ways to reach out to new prospects, even while taking steps to maintain ongoing relationships with established customers and grow the customer base.
Part of growing a customer base involves keeping the clients you already have. In order to do so, it is crucial that those customers feel a sense of rapport and loyalty to your company. Relationships with current customers can be kept strong by meeting or even exceeding their expectations in terms of delivery, providing exceptional customer service and offering products they find desirable at prices that fit their budgets. Always remember that it is your loyal customers who form the foundation for your customer base and never make the mistake of taking them for granted.
When it comes to bringing in new customers, this aspect of growing the customer base involves making use of all the resources you have in hand. One of the most effective approaches you can use is to ask your loyal clients if they know of someone who would be interested in the goods and services you sell. It may even be a good idea to create some sort of rewards program that allows your current clients to receive some sort of compensation or discount on their purchases if a lead they provide eventually produces a sale. A personal recommendation from an existing customer will often help your sales team get past the gatekeepers at a prospective customer’s business and pave the way for reaching a decision maker sooner rather than later.
It is wise to explore new niche markets in order to tap into customers that others in your industry may be overlooking. Many salespeople focus strictly on high dollar accounts and overlook smaller accounts that product less revenue per month, but do tend to be loyal and require a shorter sales cycle to win. As a bonus, securing a series of smaller accounts that the competition tends to overlook means you may be less likely to lose a customer in the future due to the efforts of your competitors, as they are outside the scope of the type of business volume those other companies are after.
Securing additions to the customer base will always require that you offer quality products at competitive prices. Even the best marketing and sales campaigns will only generate short-term success if consumers try your products and find them wanting. Along with solid products, also make sure your ordering process is simple and quick, payment terms are reasonable, and that orders are delivered in a timely fashion.