How To Balance The Equation Of Preferential Treatment Between New Customers And Existing Customers?

[Rachael]

As a business owner, one of the earliest and greatest challenges is sourcing for customers and along the line, customer retention strategies become the ultimate goal. There is absolutely no business that can thrive and succeed without the presence of customers. The customers are the pillar, the life-wire and the foundation or bedrock of any business. A business can only boost of sustainability when it has been able to succeed majorly in customer retention.


A customer who is satisfied with your quality products and services would always cross miles just to keep on patronizing and as a wise business owner, you should always have reward packages from loyal customers, this too would keep them rooted and motivated. Mostly, existing customers are the ones who bring new customers to a business owner through recommendations and referrals. Now, as a business owner, both the new customers and the existing customer deserves priority and it is the duty of the business owner to strike a balance between the new and old customers because people do not like to be placed below for any reason. The customer should be placed and treated equally, because when a bias is felt, it would make them feel very less motivated and might stop patronage. How do you handle an existing customer or new business?