A lot of businesses devote a lot of time to attracting new customers. However, the process of recruiting new customers should only take 20% of your energy and time. It’s easy to get caught up in the habit of trying to attract new customers with special deals or advertisements. It is definitely important to bring in new customers, but it’s not everything. The fact is that if you spend more time than you should focus on new customers, you may find yourself losing some of your old customers.
A good business owner knows which types of customers and how to handle these different types:
1) Need-Based: Need-based customers come to your store because they need something and they think that you might have it. They only come to your store to get the product that they wanted. They aren’t easily distracted by other deals going on.
2) Wandering: Wandering customers are in your store looking through items rather idly. These customers are more likely than need-based customers to be affected by in-store advertising and special deals going on.
3) Loyal: Loyal customers are essential for any successful business. These are the most desirable type of customer. They have the potential to make up 50% of your sales.
