How To Increase Your Cutomer Base

One of the main factors which influence the marketing is the size of the customer base present with the market. Having a large customer base and brand-following is a good sign for a company or business. Move on to know - how to increase your customer base.

Reduce The Rate Of Customer Defection

A defection rate is the rate at which a customer leaves a particular brand/company. Thus by decreasing defection rate, a company is indirectly increasing its customer retention.

By Increasing The Longevity Of Customer Relationship

Increase customer involvement by taking feedback from the customer and at the same time to implement the features that are important to the customer. This increase customer involvement and ensures that the consumer receiving attention.

Increasing The Value Of Your Existing Customers

This method can be best observed in the banks. The concept of increasing value of existing customers is that an existing customer is quite capable of purchasing different products from the product portfolio.

Customer Base And Profitability

This is absolutely important for a new company as well as for an existing company to evaluate the customer base against profitability. Having a large customer base but having low profitability does not give a sustainable competitive advantage.