10 Sep Are you aware of the customer cycle?
In my role as a Sales and Leadership Coach I work with all types of businesses. It doesn’t matter whether they are large, small, sole traders or corporates, they all have one thing in common: the customer cycle.
New, existing, and lost customers
Every business hopefully gain’s new customers, has existing customers, and unfortunately loses customers.
You can lose customers for various reasons. Here are just some of the many reasons:
- Bad customer service
- Poorly trained staff
- Products/Services not meeting customer expectations
- Don’t feel they’re getting value for money
- Over promising and under delivering
- Poor selling skills
Replacing lost customers
I’m sure you don’t need me to do the maths for you. The equation is clear and simple if you lose customers, you will need to replace them just to maintain current business levels.
How to gain new customers
Every business has two different ways that they gain new customers from.
- Potential customers that already know about you and what products or services you offer. Enquiries from these potential customers typically come from referrals, marketing activities, advertising or maybe your sales team.
- Potential customers that have never heard of you but require your products or services. These could be people that have moved into the area, business start-ups or they could be benchmarking you against their current provider.
Any business that is not attracting new customers from the above sources is in danger of being another statistic during the challenging times that we are currently experiencing.
If you would like help increasing your sales pipeline and conversions, then please contact me Gary Morgan on 020 8337 5937 or email your telephone number for me to call you back to firstname.lastname@example.org