Wednesday, May 15, 2013

No Customers = No Business

We all know about the old question of which came first, the chicken or the egg!  But with your small business which came first the your customers or your business.

In some cases a business can start from some variation of a hobby or area of interest.  In this case the customers came before the business.  In other cases, consider a restaurant, you must first build the business and then attract your customers.

In all businesses, however, without customers you have no business.  I know that seems rather basic and goes without saying,  What are you doing to attract and most importantly keep your customers?

Many folks will tell you that revenue is the lifeblood of your business, but without customers you will have no revenue.  Is thinking revenue first a bit like putting the cart before the horse?  We could not agree more that after you have customers, how much they spend and how much of each sales dollar is profit, is exactly what keeps you in business.  But the customer’s satisfaction is what must come first.

In a recent survey the most important customer aspect was that they felt appreciated.  That came before price when ranked by the customer’s themselves.  It is said that customers vote with their dollars.

It is very true when it comes to movie ticket sales. The most popular movie is the one most people attend.  Is that always true of all business purchases?  In some cases location and service time are more important to the buying decision than lowest price.  Overall, quality tops all other buying motivators when the considerations are otherwise equal.

A quality product normally equals a happy consumer.  And a happy customer nearly always equals a return customer.  The cost of keeping a customer is by and large less that the cost of acquiring a new customer.  Only during the building phase of a business is a new customer as important as keeping an existing customer.

What did you do today to keep your existing customers? What did you do today to add at least one new customer?  Was price related? Customer will tell you that appreciation and quality are more important to them.

Want help with your next business printing project?  Call MI Printing 623.582.1302 and lets us be your local resource.  We appreciate your business!

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MI Printing 
Phone: 623.582.1302