If you’re in business, you probably have the desire to put on new customers. Even if you’re not looking to grow you need to at least replace the ones you lost. Whatever situation you’re in, figuring out how to grow your customer base is important to you. There are two basic thoughts when it comes to growing your customer base and that is quantity (numbers) and quality (niche). Choosing a strategy will dictate many aspects of your business, so think about it before you jump in!
Going after quantity to grow is great for your business in the short term. When you grow based on quantity you don’t necessarily concern yourself with the type of customer you go after or where they are located. Quantity means you will put on more customers at first but it will probably lose some of them because they do not fit your business. This is the problem with quantity growth; great for the short term, more complicated in the long term.
Quality growth can be a little tougher but is more sustainable in the long term. You can target fewer people, which allows you to spend more money on fewer potential customers which typically turns into customers. Quality customers means finding a niche that fits your business. When your business is built around professionalism and value. Your sales skills will have to be a little higher for growing with quality customers but once you can add the perceived value to your business, you can target that niche customer base that fits your business.
Quantity or quality? It’s not right or wrong, it’s simply how you choose to set up and run your business. They both have their pro’s and con’s, so before you choose, simply think about which direction you want your business to go and make an informed decision and remember Profit is Not a Dirty Word!