Here is a post from my friend Seth Kahan, stuff author of the upcoming book, Getting Innovation Right. Seth has a wealth of ideas on innovation and leading change. Here are some key considerations as you plan to grow your existing customer base in 2013.
Here is a post from my friend Seth Kahan, author of the upcoming book, Getting Innovation Right. Seth has a wealth of ideas on innovation and leading change. Here are some key considerations as you plan to grow your existing customer base in 2013.
Expanding your customer base depends on five factors:
- Current customer satisfaction
- Desire for your offering
- Your reputation as a provider
- A value proposition you can deliver
- Effective outreach
Any one of these factors can significantly limit or enhance the development of new customers. Together they create synergies that enhance each other’s capacity to grow your base.
Current customer satisfaction describes how content today’s customers are with you. The higher their satisfaction, the easier you’ll find it to build the base. Satisfied customers become evangelists, provide positive reviews, and refer people to your business.
Desire for your offering is an indicator of the potential pull for your products and services; it tells you how much the market wants what you have and therefore how likely it is to embrace your offering.
Your reputation as a provider contributes significantly to the trust the market puts in your ability, which in turn accelerates acceptance.
A value proposition you can deliver is
Effective outreach means that you are getting the attention of the people who matter; i.e., you are in front of your target audience delivering messages they want to hear in media they prefer.
Bring these five factors together and you have the makings of a solid growth effort.