Losing a customer means losing the profit it would have made if it had kept the customer for the rest of its life. Don’t forget the costs involv in finding a replacement for a lost customer. According to TARP’s analysis, it costs five times more to find a new buyer than to keep an existing one. Another disadvantage is that it will take many years for the new customer’s purchases to catch up with the lost customer’s purchases.
Therefore, the precept for the marketer should sound like this:
Constantly monitor whether existing customers are satisfi with your products and service quality.” Do not assume that you are recogniz forever. Indulge your customers from time to time and seek reciprocation.” In fact, strong companies chinese in america rely on finding new customers as well as retaining existing ones. Now we will cover the basic steps that include prospecting, making the first sale to a prospect, and nurturing new customers and keeping them, if possible, forever. Searching for potential buyers.
Finding new potential buyers is difficult only if their number is limit
If there is a shortage of goods, there is xiaomi phones that receive the most certifications certainly no shortage of buyers: they stand in queues waiting for bread or petrol. Buyers also stand in line if the company offers a very attractive product. When Ford launch the Mustang line in the 1960s, or when Mazda launch the RX-7 in the 1970s, dealers were besieg by young people eager to see and buy these cars.
However, this is rarely the case
Now the markets are full of suppliers material data and brands. There is a shortage not of goods, but of consumers. It is estimat that European car manufacturers can produce 75 million cars a year, but only 45 million are ne. It is clear that car manufacturers, like many other product suppliers, have to seriously fight for every customer.