Growing a company takes hard work, dedication, and, most importantly, customers. Without customers, your business wouldn’t exist. Even with the best technology, most companies still struggle to find effective ways to acquire and retain new customers. This is why it’s essential to continually strive to grow your customer base, especially when the market conditions are challenging.
But how exactly do you go about growing your customer base? Business Development Manager, Pete Bramm, sat down with Title Sales expert Darryl Turner for a conversation on getting more customers to support your business growth. Here is a recap of what they believe are the best ways to grow and retain your customers.
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Focusing on Your Customer Base Instead of Your Order Count
According to Turner, order counts are lagging indicators determined by market conditions. Since you can’t change the market conditions, the best thing to do is focus on the size of your customer base since this is a leading indicator.
For instance, when your customers’ businesses are down, the business in your title company will also be down. In such cases, you can’t focus on overemphasizing your quantity of orders. Instead, your focus should be on how many customers you have at the moment. Don’t pull all your eggs in one basket, or in this case, one customer.
“If you can get more customers, then you know you’re doing some things right,” said Turner. Knowing how to add more customers to your business will help reduce customer attrition and be your saving grace even in challenging market conditions.
Successful Strategies You Can Use to Get Clients
Before delving into strategies, Turner explained why it’s vital to identify the size of your customer base. Identifying your customer base is essential as it helps you set your company’s goals. Turner asserts, “If you’re going to set goals around the size of the customer base, you have to focus on first identifying the size of your customer base.”
There are several strategies you can use to acquire new customers. The most important aspect is to remember that it’s not about the sale but the relationship. Here are some strategies that Turner recommends:
Cold Calling Strategy
Turner refers to this as the “difficult technique” because you’re trying to pursue people who have never done business with you. Many people try to avoid cold calling due to their fear of rejection. But by steering clear of cold calling, you have already ensured you have missed out on an opportunity.