The laws of customer attraction and retention

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Every business aims to gather more and more customers, but customers in the market are fixed. But suppliers in the market are not. That is why the competition is almost cutthroat in every industry. If you are into an industry where your competition doesn’t exist, then you’re just lucky or you’re doing very fine in your way. However, that’s not a generalized case. Every business needs to attract customers to survive further. And here’s how you can do it by following these steps.

Referrals are the way

Make your customer so much value that they suggest your product to their friends and family and their friends and family will do the same thing onwards. That is how you refer to something, and attract business with it. The biggest examples of reference are the newest Internet companies that are popping up now which are offering referral codes. You can see Google Pay doing the same. Every other digital company has been doing the same thing because they are they know that this is the best and cheapest way to attract more customers. 

Aggressive marketing

Aggressive marketing refers to the act where you force out every resource in your pocket for advertising purposes. The marketing is so aggressive that the whole consumer space is covered with your advertisements only. This form of marketing is quite popular in India, especially after Oppo and Vivo did this. If you remember the scenario of oppo and Vivo every nook and corner, every part of your visual space was covered with blue and green i.e. their colors.  

This may cost much, but this will somehow sit in the subconscious mind of the prospective customers And whenever they form into a situation where they have to make decisions to buy related products, they will be first attracted to your brand because of so much advertisement.

Partnering with complementary businesses

Partnering with complementary businesses means that you are promoting your product along with a substitute product for your parts, which is again manufactured by some other recognized company. This is just like promoting a product like an assembled desktop computer where you find the best products available in the market and assemble them to form a new product and then you market with the brand names associated with the product. If you recall, Nike did the same in their Air Jordans with Dior.

Networking goes a long way. Make a big social media presence

The biggest fact is the best known will always be the best in the business. To be best known, you have to use every arrow in your quiver. Social media is one of the best and easiest ways to interact with your customers and other consumer bases so that you can convert them to your customers as well. If you make a good social media presence everybody will automatically trust you and your product will be known as the best product in the market because you will be not only posting testimonials on our social media, but through interactions, people will gather more goodwill for you and that will benefit you in the bigger purpose.

Social media presence is also a very big benefactor to networking. If you are continuously active on social media platforms so that you are visible in people’s eyes and every feedback complaint can post on social media and resolve then and there, or at least a response should be there. The latest example is the Tesla owner from Japan, who tweeted about his Tesla car, and Elon Musk himself tweeted that his problems will be solved within 3 minutes. This not only gains popularity for your brand but the goodwill is boosted throughout.

Propose value

The price of value is irredeemable. When you generate enough value, you do not need to generate more marketing ideas or advertisements. Your goodwill is the main ad of your business. So if you want to retain people, generate more value for them. If you’re charging 100 for anything, give them a value that is at least 1000 and that is how you be in business. For longer times, you retain people and you join people in your conquest of business.

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