A challenge facing many businesses is how to maintain a constant stream of customers in order to provide a regular cash flow.
One method is to choose a location that ensures a steady flow of traffic past door, creating a constant awareness of business. While position is important, it is not always possible to afford or be lucky enough to occupy a prime location.
Another method is to advertise sales or other specials, which are designed to bring customers, both new and existing, into store or business. While this method may prove successful in increasing sales in short-term, often true ongoing value of sale is overlooked. That is, one of desired outcomes of promotion should be in capturing future business of those customers.
It is a commonly overlooked that a customerís true worth lays in their value in subsequent business dealings.This can be demonstrated by a reverse view, in that poor service, low quality goods or other undesirable factors in customers eyes, is quick to bring business into ill repute. Business failure or a dramatic downturn in turnover can result. Equally, a favorable outcome for customer means they will not only be more likely to come back, but also to tell their friends about experience.
Therefore, it is a disconcerting fact that many customers leave a store without any attempt being made by business at capturing their vital information. This information, if gathered, not only allows business to communicate with that customer at a later date, but to also begin to refine its view of its customer and their needs. This principle applies whether business be a retail outlet, a service firm or a manufacturer. Typically a business can use a variety of methods to capture customer information.