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Darshna Suresh , Business Researcher and Data Moderator , Bayt.com
No business can sustain without customers for even a day. Customers are really an essential stakeholder for the companies, and they should focus on serving them better.
The key to win & maintain customers is to target your potential customers, this should be done by applying various market research techniques. Once a company has identified its customers, it has to attract them & conveying the product benefits & how can it solve the issue for the customers.
Marketing the products should clearly define that why a customer should buy the product!
And always be honest with customers, let them know the true picture, because if later on, if the product turns out to be unreliable then, their trust is shaken which is a huge loss.
Once company has acquired customers, it needs to maintain them, its a very important concept in CRM to maintain customers as existing customers are much more beneficial than the new, since the acquisition cost is minimal.
To maintain, firms can use various techniques to know & understand their customers feedback of the product & what are the new issues they face & how would they like to get a solution.
Companies should focus on being Customer oriented rather than product or sales oriented.
Lastly, they should focus on making their existing customers loyal & even to a point of advocates where these customers can endorse your brand & this is a huge competitive advantage.
