How to Guarantee Growth for Your Business

Posted by: Nick Venturella

Did you know your customers can help you fix just about any business challenge you have?
Yup, it's true.

Along the journey of engaging your customers, if done well with the customers' interests in mind first and foremost above your own, the customer can and will help you solve most of your business issues.
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1. For example, not sure what the next evolution of your product or service should be? Ask your customers, I bet they have some ideas. Not only will they be grateful for the opportunity to have their voice heard, it helps provide your customer a deeper sense of ownership over your product or service -- they helped create it.
   
   
2. Want to know how get great testimonials for your company that you can use in marketing materials? First, help your customers succeed in their business with your products/services and provide them opportunities to showcase their business successes. They actually did the work, they just used your tool/training to help get their work done. They’re the thought-leader, position them as such.
   
   
3. Want to grow your business? Review the first two questions/answers above then read the following stats that I found in an Influitive article, which point back to your existing customers and ensuring they’re having success. This is not only for the sake of your customers’ success, but for your own success as well.
   
   

• The likelihood of selling to a new prospect is 5 to 20%. The likelihood of selling to an existing customer is 60-70%. (Marketing Metrics)
  
  
• Eighty percent of a company’s projected profits comes from 20% of its existing customer base. (Gartner)
  
  
• Increasing customer retention even by as little as 5% can increase profits by 25% to 95%. (Bain & Company)

Things you may not be thinking of related to the above stats are that not only are your current customers likely buying more from you over time, but if they love you, they’re referring others to you, and helping you to close new business as a genuine and credible reference customer.

If ever there was a silver bullet business growth strategy, it’s your current customers.

Are you a new business? Then hustle to get your first few customers and engage the heck out of them. Help them be successful in their business even if it seems a bit beyond the scope of what your products/services are designed to do.

Business is done by people. Be genuine, care about your company, your employees, your customers and their employees. Everyone needs to make a living to support themselves and their families – to live their lives in meaningful ways. If you put forth the effort, I can guarantee you that commercial karma will come back to you in spades.
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What are you doing to engage your customers to be wildly successful with your products/services?