For the first year of successfully running a business, most business owners are focused on survival.
However, as mentioned in our post yesterday, prioritizing the growth of your business via expansion is one of the best ways to increase the chances that your company will not only last but also contribute to your economic well-being and a stable financial future.
We will thus be treating 9 ways to successfully expand your small business to a big one through out the next 9 days. For day one, we will be talking Recapturing Your Existing Customer as one of the major ways to business expansion.
It is important to note that getting new customers is not the only way to grow your business. Many times, the customers you already have are your best bet for increasing your sales, and studies have found that improving customer retention also improves the value of a business/company.
Customers who have already purchased from you once are more likely to do so again, especially if they have a positive customer service experience. All you need to do is capture the contact information and shopping preferences of one-time customers. Then, use that information to set up marketing systems that we previously discussed in the past. This will convert them into repeat customers.
Today, ask yourself if you are getting it right with customer retention, if not work out ways to do this. We are happy to support you with this.
