Let it be said upfront. This can be really very painful. You would never like to see losing your customers and diminishing revenues. You already know how much it takes to acquire one single customer. Your months long campaigns that involved your efforts , your time, your money to beat competition and acquiring customer are still in your reminisces and this is for sure that you cannot afford to slip away these customer accounts earned through your rigorous efforts and investment. But cycle of time keeps on changing. Disruptive models are changing the business environment never like before. Change in environment causes to change in choice of customers, their perception. You are bound to face with new challenges of staying fresh & updated. Customer loyalty is at its lowest and simultaneously new entrants to the market with greater appeal, makes market more competitive. But as they say you are in to business because you love the challenges.
First and foremost way to combat the challenge is start loving the challenge. You should be ready to embrace new ecosystem.
Be ready to take decisions and join the league of successful entrepreneur. Your swift decisions & actions will bring you at the helm of affairs rather than a mere spectator of business obituary. Here is a list of few factors you can take care of to make your business relevant and your products and services desirable.
Out of sight is out of mind
Yes! The times we are living in is so fast paced that your prospective customer is being bombarded with such a huge scale of advertisement and plethora of information that by the time he or she decides to make a purchase, you are nowhere to be seen by him/her. Focusing on visibility is key element in devising contemporary sales strategy. You should keep a tab on the way entire sales & advertising canvas realigning itself because of emergence of new technologies. For instance, few years back where online advertising activities were limited to desktop advertising, now the entire paradigm has shifted towards mobile advertising. Responsive mobile ready websites and mobile apps are few things to consider. You should prioritise your strategy with more efforts towards your company social media pages, twitter account to stay connected with your customers.
Your website is not designed enough to create trust.
Advertising is out, engagement is in. Most of us put a full stop to our digital marketing initiatives just after creating a website for our business. But please note that creation of website is not the end but is starting point of digital marketing. At times, when your prospective customer has easy access to useful and meaningful content on internet, content of your website should be vibrant and significant for the customer to make a positive perception for your products and services.
You are not circulating news letters
Newsletter is the best way to be in consistent touch with your customers and creating trust in long term. Your newsletter not only should say a success saga about yourself and features of your products but also the challenges your customer was facing and your solution to them. Sprite of content of a newsletter should always be customer centric and should present a solution to their problems.
Your website is not visible on search engines.
If you are not visible in search results on search engines for your product or service, you are certainly losing huge revenue. You should keep your website search engine friendly or in other words Search engine optimized(SEO). Search engines love fresh and unique content. So keep your website relevant in terms of customer centric content and keywords. Since SEO involves lot of activities other than posting content an experienced professional agency to take care of your digital marketing.
Your products, services need re-branding.
Refreshing or rebranding can play a crucial role many of the times to make a reconnect with your customers. This also presents a dynamic image of your business to your existing customers and eventually enabling trust factor.
Invest in technology, valuable employees
More and more customers are not digitally enabled. Your customer contact programs must involve dependence on new technology be it CRM, Inventory management software, meetings, Visual aids etc.
Ad extra value to products and services
Incessant efforts in making your products value rich and upgrading to latest technology are key elements to business success.
Restructuring pricing model
There are different set of customers with different needs and budgets. Your pricing model should cater to all segments. A restructure to pricing model might work if your industry is mature and have high competition.
Keeping yourself connected to latest development to the fast changing ecosystems is vital to stay ahead and meaningful to your business.
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