Review your Customer Acquisition and Retention Strategies

Your business is only as good as the number and quality of customers you bring to it. Customers are the lifeblood of your business, and you need to always review how you are getting customers, and more importantly, how you are keeping them as customers. Some questions you need to think about:

• How well are you able to communicate the benefits of your products and services to your customers? How successful are you in conveying how your business can satisfy their needs and make their lives easier?
• How do you treat your customers? Do you treat your customers in a respectful way? Do you greet them and serve them well when they come into your store? Do you respond quickly to your customers’ emails, feedback and complaints? Remember, customers don’t owe you anything, but you need to earn their business.
• How does your business, product or service stand out from the rest of your competition? If you’re not standing out, do you know why? Is there something – whether service that you can kick up a notch, or a product line that you can offer — that can differentiate you from your competitors, big and small?
• What percentage of your customers are repeat customers? How can you make your first time customers to buy from you again?
• Do you generate referral customers? How can you make your existing customers actually refer you to their family, friends and network?