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Customers are the most important part of a business. If there are no customers then there will be no business. However when it comes to a new business, customers hold even more importance then they do in companies that have already been working for years.

Importance of Customers

When you start a business, the basic question that that you ask yourself is how you are going to attract customers to buy your product. Being a new company you do not have any old history or record that will make people recommend you. You are starting from the scratch and you need to develop your business by gaining as many customers as you can. Old companies already have a name and image in the market known as goodwill while new companies have to develop this goodwill through various strategies to achieve customers.

Strategies to Attract Customers

 

Place is an important market mapping tool that must be taken into account. One should position its unique selling point in a manner such that the target market is easily attracted. Customer database should be maintained so that news and feedback can be generated at ease. In the initial phase the company could offer schemes such as the first hundred customers will get discounts when they come back. This will make the customers come back and once they start using the product frequently they’ll turn into loyal customers.

Companies have to identify niches in the market so that they can exploit the segment successfully. They would thus have to identify an attribute of the product that is required by the customers but not currently offered by existing companies in the market. The unique feature of the product such as low price or superior quality would itself attract customers and result in generation of revenue.

Importance of Efficient Customer Service

Dealing with customer complaints is an important part of business process and new companies have to make sure that any complaints of the business are immediately dealt and rectification is done. This is because a new company needs to build its reputation and this can only be done if customer service is highly efficient. This would not only result in the customer to praise the product or the service but would also result in marketing through word of mouth when the customer communicates about the company to friends and family. The customer is also likely to become a frequent purchaser if the service is of extremely high quality.

 

Christopher Clark is a retired CEO who teaches classes on customer management. He also contributes to a number of blogs and websites like this on topics such as customer relation management and business software.