Starting a business is a wonderful thing and sometimes it may even seem to have been the easiest thing you have done once you get your business up and running. The real work comes when you have to consistently find ways to keep your brand in front of customers to gain new customers and to retain your current customers. There are certain things you will never know about business until you are actually in business for yourself and one of them is knowing how to stay in business.
Although there may be many factors that keeps a business in business, one of the major keys to any businesses is retaining their customer and attracting new customers to buy their products or services. Also, your business may experience some frustrating factors that you may question as it pertains retaining customers that your company serve.
Here are three main reasons your business is losing customers and why you must always stay ahead of the curve and listen to customer feedback.
It’s just business and it doesn’t mean it’s your fault. Losing customer is not always the fault of the business it’s just a part of business. Customers will come and go, therefore it is important for your company to always stay of head of the marketing curve and to implement innovative ideas and strategies as it relates to your business and industry.
Customers just want to try something new. Sometimes it’s just that simple your customer want to try something new, they may have moved, your business pricing don’t fit their budget anymore. Here’s an example, I shop more at Kroger over Publix because of Kroger prices combined with the incentive fuel discounts for shopping. Also, as of recent I’m a shareholder of Kroger, which make me part owner. I’m a regular, irregular type of Publix shopper, because I go when the BOGOs are good.
You haven’t made any upgrades to your business. Although customers don’t always like to adjust to your business upgrades when it comes to how they have to do business with your company, they want to see your business upgrade. There are two types of ways a business can create upgrades: (1.) how the business do business with its customers (2.) how its customers do business with their business. An example of an upgrade that might change the way your customer do business with your business is; self check out lines, online booking apps, online banking, online bill pay to name a few. These type of upgrades typically are pains for the customer because people initially hate change. They may be growing pains for the company as well, but eventually all parties will adapt. Hang in there. An example of an upgrade in how the business do business with its customers; upgrading the service it provide through customer service and/or the actual service, introduce new products, provide customer education, concierge service, personal shopping to name a few. A business can also make upgrades to its facility as well.
Now that you know that you will lose customers anyway and you have a few reasons they may leave, take the time to assess your customers needs by doing a survey, asking questions and then listen. Once you know what it is your current customers are looking for you can prepare to keep them by making upgrades to your business that suit their needs. Also for attracting your new customers, ask the internet streets what they are looking for, listen to them and make your move on the market to obtain them.