A business can only be built on the strength of its customers. You can maximize the support you get from customers through effective market segmentation. Two of the segmentation strategies you can use are attitudinal segmentation and demographic segmentation.
Customer Loyalty
Managing Customer Expectations
When a customer has a bad experience with your business, it has major consequences. One of the most common reasons customers are dissatisfied with a business is that they don’t know what to expect. If a customer doesn’t know exactly what you’re offering, it becomes hard to come away happy.
Competency Builds Trust
Relationships are built on trust. And trust, in turn, is built on competency. You can build trust—and then relationships—with customers by highlighting your knowledge and skill in your industry. Showcasing your expertise demonstrates how much you have to offer to customers.
Loss Leaders
Customer acquisition is a major cost for any business, and there are a number of strategies you can use to tackle this problem. One alternative is the classic “Loss Leader” approach, getting customers in the door to buy your entry-level product.
6 C’s of Relevant Benefits
For any business to succeed, it must offer value to its customers. A great value is what will bring customers back, and drive growth. An important factor in value is relevant benefits, which is how your product or service meets the needs and wants of customers.
