Ways to Increase Your Customers for Your Business

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It is said that customers are the lifeblood of any business. This is so true, as no business will exist without the source of its revenue.  To increase your customers start with having prospects, converting them to happy and repeat customers. Being satisfied, these customers will endorse your business to people they know can avail of your product or service.

Increase your customers, build and maintain them following these simple ways

Get your prospects

Depending on the nature of business you are in, the source of prospects can be people you know, your neighbours, trade lists, customer directories, specific targeted lists. You can also generate lists by advertising, use of publicity, direct mail and telemarketing.

Convert your prospects into paying customers

To increase your customers, you will need to find out what specifically your customer needs and customize your product or service so that you can address their needs. As you get better in needs analysis and presentation, the number of your buying customers will increase given the same database of prospects.

Increase or preserve customer retention

Make sure your paying customers stay with you for the long-term. Generally, companies lose 19% of their customer base yearly.  For you to increase your retention ratio, customers must keep renewing the business with you year after year. For them to be compelled to do so, they must be convinced that your products or services continue to meet their needs. It costs less to keep a customer than find a new one (which costs 6-8 times more), so customer retention is key.

Ask for referrals to increase your customers

Your happy customers will be the ones to give you the most number and best quality referrals. Because they know exactly how your business works, and they would most likely know people or companies with the same needs as they have, they can refer you to people or companies most likely to buy. More importantly, these happy customers give you free and effective advertising as they relate how happy they are with your products and services.

Establish a referral system

To encourage your customers to give you names of possible and qualified prospects, you can announce and implement a reward system for every referral or batch of referrals made. Rewards can be your company’s products or services given for free, free tickets to a sports game, free hotel stays, restaurant gift certificates or whatever you think will engage your customers.

Get in touch with past customers

As time passes, you will have accumulated a list of customers who have stopped buying. Their reasons could be various– their needs have evolved, they tried out the services of a competitor and have not moved since, or there was some dissatisfaction in the past with your company that was not addressed.

Whatever these reasons are, you can also increase your customers by touching base with them to get them to try your services and products which by this time would have evolved and been upgraded. As such, you have a reason for them to give you another opportunity to service their needs.

As part of your campaign to increase your customers, find allied businesses, which do not compete with yours, who service customers with the profiles that you want. If you provide home insurance, for example, you can ally with a real estate company selling houses and condominiums so you can offer their customers insurance for their residence. You can work out an arrangement with them so they can be rewarded for their referrals or you can give them reciprocal business.