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This document outlines the key steps to building a successful customer base and business: 1) Identify an existing customer need or problem; 2) Develop a service that satisfies that need; 3) Market and promote the service directly to the target customer segment in order to build awareness and interest; 4) Engage customers by understanding their specific wants and offering solutions tailored to their needs and budget. Focusing on solving customer problems rather than just describing the service is important for creating a loyal customer base through word-of-mouth referrals.
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The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
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- 2. There is a customer base that needs a service. You provide that service Customer pays for the service and deal is done. For business to happen you need 3 things 1. Customer base who has need. 2. Service that satisfies that need. 3. Budget of customer = service cost Service Payment Need
- 3. Sales person needs a customer base either by referral or by marketing. The idea is to get as close to your customer base as possible via ◦ Emails ◦ Cold calls ◦ Pampleting ◦ SMS campaings ◦ Face to face meeting ◦ Etc To be able to do business, you should reach inside your customer base. Like builders participate in property shows, bank loan guys visit MNC campuses, credit card guys use cold calling.
- 4. Creating your customer base by Market segmentation & targeting is very important. Reach your customer segment with your service details
- 5. Understand what customer wants Offer solutions/options
- 6. You can use a number of capabilities to convince your customer that you are the best person to offer him solution at the right cost.
- 7. Always focus on what problems your service solves rather than explain the service. Explaining to your customer what problems your services solves will create huge customer base for you.
- 8. Once you solved your customer’s problems, take references from him. Let him spread that you have solved his problem. Let others know that you solved his problem. This would attract other customers to you.
- 9. Thank you