In the first place, for a business to even be a business that business has to have consumers… someone to exchange their dollars for the services and products the business sells.
You can have great management skills. You can have all the financial support in the world. You can have a fantastic entrepreneurial mindset and the most well-trained personnel, who offer the best products but until and unless you have someone to pay for your services and products in sufficient numbers, you will never have much of a flourishing business enterprise. At best, you will only produce an average income.Steve Sorensen is the principal and CEO of Esperer Holdings, LLC which is the asset company for supporting each of the business assets and also have the privilege to own and function.
If you have a good base of loyal clients or customers on the other hand; people who like you, who trust you and who know you, people with whom you have developed a good working rapport eventually, who are by now doing business with you, and are sold on the work you are doing for them or the services or products you sell them only then can you say you have a workable business.
If your customers are your most valuable and important business asset, knowing how to cost-effectively draw them in large numbers, and profitably convert them into renewing, loyal, or repurchasing customers who will not falter in referring others to you, is the most significant business skill you can acquire.
How To Get The Biggest Return Possible On Your Investment
If your customers are your most important asset, it would stand to cause that you would want to learn how to keep more and attract more of them on a profitable and cost effective basis. And the way you do that is by effectual marketing. In effect, marketing is the most money-spinning investment you can make in your business.
So why do most businesses be unsuccessful? Plainly put because they do not have enough consumers buying from them profitably and regularly. That is, they fail to draw and keep a satisfactory number of customers to not only support their expenses and overhead, but to also provide adequate dollars that can be used for the development and enlargement of the business. According to Steve Sorensen, most businesses, fail because they cannot, or do not know how to attract an adequate number of prospects, and then renovate them into not only paying, but commercial customers.
In most instances, it is not because the business managers or owners did not try. Time and again, it is a result of not implementing and understanding effective customer receiving and customer maintaining strategies. It is that these managers or owners were not dexterous in the skills essential to keep their existing customers from defecting to the competition. And it is because they have never been taught these skills in the majority of cases.
The end result is if you actually want your business to be successful and explode, you have got to make getting and keeping cost-effective customers your number one priority.