How to Keep Current Customers and Grow Your Business Part 1

April 09, 2021

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You've got a loyal customer base that's been with you for years, but now they're starting to drift away. You need them back--fast! What can you do? This blog post will give you some tips on keeping your current customers from abandoning ship and helping grow your business by selling more to the people who matter most.

 

The first thing you'll want to do is identify the problem.

- Why are your customers leaving? What has changed in their lives that's making them feel like they're not getting everything from this relationship anymore and need a change of scenery or more time for themselves (even if it means losing out on products)?

 

Next, take a look at your customer's perspective.
- What are their needs? What will they find valuable about doing business with you instead of the competition that might offer similar products or services for less money and/or in more convenient locations (online)? These answers could help answer why these customers have been leaving--because something has

 

Then, plan what you can do to remedy the situation.
- Are they more interested in another company's product? Did they experience lousy customer service? Did the prices go up? Have you changed your product formulation or packaging, and they do not like it as much anymore, even if it's still a high-quality item that's worth buying, in their opinion?


- What can be done to remedy this situation so customers will come back--or better yet, stay for good! ? There are many things here, but we'll just touch on two of them: personalization options (such) as sending out exclusive promotions via email; making adjustments to pricing/product configuration based on customer feedback. If these aren't enough, there may need something more drastic, such as updating operations until all issues have been dealt with accordingly.

 

Lastly, know what the customer wants most.
- What do they want? You need to know what they want, not only at this moment but over time. This is achieved by asking them directly and then being proactive in fulfilling those requests in a timely manner--before your competitor does!

 

In summary, the customer wants service that is tailored to their needs. You can do many more things, but it all starts with being in tune and understanding what they want from your business!

Yigal Adato

Yigal is a 3rd generation pawn broker, and is now a mentor, coach and educator with the pawnbroking industry.


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