The Small Business Forum
The Growth Stage (contd)
- Sales can be increased by selling more of the same product in existing or new markets, or the introduction of new products. It can also be by selling to new customers or repeat customers, getting existing customers to buy more.
- Repeat customers are critical to the continued growth of a business. If those who have bought from you in the past would not come again, your business could be headed for trouble.
- Repeat customers involve converting customers into clients. Clients are customers who have loyalty. They help stabilise sales. Having clients can also reduce costs. Retaining existing customers is less costly than recruiting new ones. It largely takes customer relations.
- Sales may also be increased by offering credit, quality control and branding. Credit allows customers who do not have ready cash to buy and pay later. People will also buy more of a quality product, and branding your product helps create repeat customers. Buyers can trace their source.
Comments, Questions and Suggestions welcome.
drkibuka@thesmallbusinessforum.co.ke
+254-729524219
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