Customer development is acquiring new customers in your business and building them up to remain
with your company. For example, the first thing to do when developing customers for your business is
to do a customer research so you can understand the needs and capabilities of the potential customer,
then customer collection where we invite the customers to be a part of our clientele, and then the last
thing is to retain our customers (customer retention) by making sure they continue to be loyal
customers. The three sections working together make for a process of customer development to help
organize the search for the business model that the company will operate by.
The reason a business needs customer development program is to make sure that it gives the company
a reason to remain in business after all a business without customers will not survive past the initial
equity or money invested.
Whether current or potential customers, their needs change consistently so the aim or this section is to give a blue print on how your can go about collecting that information.
Customer collection depends on the principles of natural persuasion. The first principle of those is used to get the attention of potential customers, second is to connect with them and last is used to get their involvement and participation. The customer collection follows a strict process that must be followed at all times when developing customers.
Customer Retention is the ability of a company to keep its customers buying their product or service over a long period. It’s basically a process of keeping customers loyal for life time value.
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