Is the customer cycle killing your business?

In my role as a Sales and Leadership Coach I work with all types of businesses. It does not matter whether they are large or small, sole traders or corporates, they all have one thing in common: the customer cycle.

 

Author: Gary Morgan

New, existing, and lost customers

Every business hopefully gains new customers, has existing customers, and unfortunately loses customers.

Lost 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.
  • Do not feel they are getting value for money.
  • Over promising and under delivering.
  • Poor selling skills.

Replacing lost customers

I am sure you do not 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.

  1. 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.
  2. 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 gary@garymorgan.coach

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