If we are running a business, we need more customers and profits happen only if we have more customers. If we don't have more customers, we will not have enough profits or I should say that the profits we get may not be sufficient. Promotion plays a very important role in getting new customers. We can promote our product through several means and one of the best means today is social media or we can call this digital marketing in general. There are several parameters associated with such promotions.
Let's say we have a product and we can reach that product to the customers, if we are unable to give a quality product to the customer, the customer may not be happy. We might end up disappointing the customer and the biggest loss that we might have may not be the money or just one unhappy customer. It is a chain reaction and one customer if he tasks to another then things can become dangerous and our sales might slow down.
Focus on happy customers than money
Money is something that can be earned at any point in this journey. Happy customers are very difficult to earn. If we can do that, they will become promoters for us and without even giving any referral schemes they might bring many additional customers for our business. This is one of the biggest advantages we have in making the customers happy.
Some businesses focus on money and they forget to make the customers happy. These businesses struggle to develop and most of the time they don't know the reason and they keep blaming other parameters for their failures. There can be other parameters too for a failure. I don't deny that but at the same time we have to also understand that leaving a customer unhappy can become a rapid chain reaction and that may not give us good results and make us go in the wrong direction or reverse direction for a while until we make enough happy customers.
I have seen a few business that don't focus on the customers and what they feel about the product or server. They just focus on the money and they might as well earn a lot of money. We shouldn't be taking examples from such companies. The main reason is because it can be a company that doesn't need any marketing and even if they miss one customer they might be crowded with several other customers who don't care about other reviews. It is purely dependent on the business we are doing.
Customer to promoter
Many companies that offer referral schemes are doing this thing. They try to make the existing customers talk about the product or service and make them bring additional customers to the business. In other cases, there are also schemes available for customers who get some discounts if they become a promoters and bring many additional customers.
These days this is taught as a strategy in the business schools and many companies have been using this strategy for several years to grow their business. Some customers not only become promoters but they might as well bring more opportunities for the growth of the business. Sometimes they do more work than the salespeople we have inside the company.
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