Multi Level Marketing Process
For those who have been exploring ideas and avenues to build an alternate source of income and are ready to invest their time and energy into building a new business, Multi Level Marketing is the right solution. With consistent focus and efforts, people have become millionaires doing business through MLM networks across the world. The […]
Customer Acquisition – Meaning and its Process
Customer acquisition is the process of acquiring new customers for business or converting existing prospect into new customers. The importance of customer acquisition varies according to the specific business situation of an organization. This process is specifically concerned with issues like acquiring customers at less cost, acquiring as many customers as possible, acquiring customers who […]
Customer Relationship Measurement – Meaning, its need and importance
Customers are the most important part of business. There cannot be any business without them. Only satisfied customers will be interested in buying and they will also refer other customers to buy. By measuring customer satisfaction a supplier can maintain a quality and long term relationship with customers and secure their future business and financial […]
PESTLE Analysis of the Global Aviation Industry
Introduction When we think of airlines, we usually think of luxury and opulence as well as comfort and convenience. However, beneath the veneer, the airlines worldwide are caught in a cycle of higher operating costs, lower profits, and decreasing margins because of the various factors discussed in this article. Though the passengers might not notice […]
What is Multi Level Marketing?
Network marketing or Multi Level Marketing has caught on the fancy of people across the globe and as on date there are thousands who have made their millions through being a part of Network marketing. The success stories of such millionaires from US, Australia and UK etc are being published as a part of the […]
Customers play the most significant part in business. In fact the customer is the actual boss in a deal and is responsible for the actually profit for the organization.
Customer is the one who uses the products and services and judges the quality of those products and services. Hence it’s important for an organization to retain customers or make new customers and flourish business.
To manage customers, organizations should follow some sort of approaches like segmentation or division of customers into groups because each customer has to be considered valuable and profitable.
Customers can be of following types:
These customers revisit the organization over times hence it is crucial to interact and keep in touch with them on a regular basis and invest much time and effort with them. Loyal customers want individual attention and that demands polite and respectful responses from supplier.
Loyal customers are the ones who will act as advocate for your organization.
More is the discount the more they tend towards buying. These customers are mostly related to small industries or the industries that focus on low or marginal investments on products.
Focus on these types of customers is also important as they also promote distinguished part of profit into business.
Handling these customers is a challenge as they are not particularly looking for a product and want the supplier to display all the useful products they have in their tally in front of them so that they can buy what they like from that display.
If impulsive customers are treated accordingly then there is high probability that these customers could be a responsible for high percentage of selling.
These are frequent customers but do not become a part of buying most of the times so it is difficult to satisfy them.
These customers should be handled positively by showing them ways and reasons to switch to other similar products and brands and initiating them to buy these.
These customers could possibly be lost if not tackled efficiently with positive interaction.
These customers are normally new in industry and most of the times visit suppliers only for confirming their needs on products.
They investigate features of most prominent products in the market but do not buy any of those or show least interest in buying.
To grab such customers they should be properly informed about the various positive features of the products so that they develop a sense of interest.
An organization should always focus on loyal customers and should expand or multiply the product range to leverage impulsive customers.
For other types of customers strategies should be renovated and enhanced for turning out these customers to satisfy their needs and modify these types of customers to let them fall under loyal and impulsive category.
Your email address will not be published. Required fields are marked *
