HOW TO UTILISE CORE CUSTOMERS FOR BUSINESS GROWTH
I don’t want to pass up the opportunity to share an article I read about how to utilise core customers for business growth. Here are a few highlights:
In every company, there are various types of customers. Some customers are distinguished and more important than other types of customers. These distinguished customers are known as the core customers, and they have a long-term value to these companies. Core customers buy and get the most value from the company’s products and services.
Core Customers
Core customers are the most important customers of a business, and they constitute a quarter of a company’s customer base. This set of customers are loyal and have long value with the companies.
Companies often leverage their exclusivity for their core customers because they connect exclusive brands to the company. These customers prefer to use the services of a business they approve of. To show personalised appreciation, consider branding limited stock or specialised merchandise and distributing it to those that have proved loyal to the business and deserve recognition.
Leveraging Core Customers
Leveraging core customers helps enhance the company’s resources and increase its competitive advantage. Some strategies that companies can execute to best leverage the value of their core customer base are:
Honesty
Honesty breeds loyalty from core customers and helps to build a relationship based on trust. Companies that are honest about what they intend to achieve will most likely get the core customer’s support.
Business Goals
Dedicating a portion of the business’s goal to selling directly to the core customer helps keep them satisfied. The more comfortable the core customer is, the better the company’s performance.
Appreciation
Showing appreciation to the core customer further helps to breed loyalty and relationships and improve the company’s sales. It is also a form of marketing that combines good marketing techniques with customer service.
Recommendation
Asking core customers to recommend the company’s services and products also helps gain more trust. Reviews help potential customers to trust and get more information about a product.
Utilise Your Core Customers
When a company has stable core customers, it helps to improve a company’s growth. Core customers drive revenue and add value to a company’s services and products. Companies find it easier to market new products to existing customers.
Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.
Thanks,
Robert