No matter what sector they operate in, and they whether they sell goods or provide services to the public or other businesses, there’s one thing that all startups urgently need: customers. It will take hard work and dedication to achieve this goal, but then a further goal comes along that’s just as important: keeping customers. That’s why we’ve created this three-point guide to gaining and keeping customers, and by doing so you can move rapidly from being a start-up enterprise to being a growing and profitable company.
Gain Customers By Offering Something Of Real Value
The business world is highly competitive, and startups face an initial disadvantage because their brand isn’t known. You can combat this with a great website, an active social media presence and excellent marketing, but above all else you’ll have to offer real value. Some startup entrepreneurs make the mistake of thinking of value purely in terms of price and price their products too low as a result.
In fact, you can offer real value by offering a product that’s unique and which offers a solution to consumer or business problems. Give your customers what they need, especially if that solution isn’t already available, and they will be more than ready to pay for it. Identifying a real problem, and finding a product or service that solves, should be the first step for a start-up entrepreneur.
Focus On Customer Retention
By offering a great and unique product, and marketing it effectively, you can gain customers and start to build your brand. That’s important, of course, but it’s even more important to retain as many customers as possible, as that leads to predictable and sustainable growth. The key to customer retention is to gain high-quality feedback; ask your customers what they thought of your product or service, and how it can be improved, and then make the most of the data you receive. It makes sense to utilize the services of retention experts such as Avannis who help clients in the banking and financial sector retain customers and gain high-quality feedback.
Everyone likes to get something for nothing, which is why smart businesses of all sizes understand the importance of loyalty programs. This can be an especially effective way for startup businesses to encourage second and then repeat orders, but make sure that your reward is relevant to the kind of customer that you’re trying to attract. One simple yet effective reward scheme involves sending an e-voucher for a certain percentage off their next purchase if made within a specified time limit, or the awarding of points which can be accumulated throughout future purchases and used to secure a discount. Remember – customers should always be able to buy directly from your website.
Customer retention brings a twofold advantage; it leads to extra sales and income, but it also builds up brand loyalty, and it’s likely that customers who buy from you again and again will also encourage their family and friends to do so. For that reason, customer retention should be a major priority for any business, whether it’s established or a startup.