An essential part of business success is establishing a strong foundation of repeat customers. But it’s also important to build on that foundation, as attracting new customers is key to spurring growth. However, business leaders may find it challenging to maintain their focus and brand integrity in the quest for a wider customer base.
Balancing staying true to your mission—and your first loyal customers—with extending your reach and appeal requires thoughtful planning. Below, members of Forbes Business Development Council share strategies for how companies can attract and keep a wider group of customers.
1. Develop A Diverse Team
One of the best ways for an enterprise to attract and retain a diversified customer base is to mirror the segments that it wishes to serve. Having representation that looks and feels like the customer base allows the organization to better understand the nuances of these consumers and holistically support a diverse business line. – John Drumgoole Jr, USA Mortgage
2. Broaden Your Offerings
A business should embrace the diversification of its customer base and take advantage of it through more personalized, diversified offerings—this will allow it to grow across those segments. At the same time, it is important to establish a diversified hiring process to mirror the same target segments in the makeup of the employees. – Mohamed Madkour, Mastercard
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3. Focus On Adding Value For Customers
In my experience in retaining a customer base, the only thing that I have seen work is being obsessed with “value” for the customer. Focus on the value being provided to the customer through your product or offering, whether that value lies in cost and operational efficiency, creating a differentiated advantage, providing business impact with an additive topline, or reducing business risk. – Bharath Yadla, Workato
4. Build Connections And Trust Through Diversity
A diverse sales team is key. When your team reflects the variety of your customer base, they can better understand and meet those customers’ unique needs. Remote work makes it easier to build such a team today. This leads to genuine connections and trust, attracting a wider audience and fostering loyalty. Embrace diversity to attract and retain a diversified customer base. – Marek Niedzwiedz, aeXea Group
5. Connect With Your Local Community
Engaging with communities is an effective strategy for appealing to and keeping a diverse customer base. By being involved in and backing events, sponsorships and collaborations in its community, a company can cultivate trust and loyalty. This method shows a dedication to comprehending and addressing the requirements of various customer groups, nurturing lasting connections. – Thasha Batts, Pinnacle Global Network
6. Listen To And Incorporate Different Voices When Making Decisions
To attract and keep a diverse customer base, a company should genuinely listen to and include different voices in its decisions. When people see themselves reflected in your brand and feel their needs are understood, they’re more likely to stay loyal and spread the word. It’s all about real connections and making everyone feel valued. – Richard Lindhorn, VivoAquatics Inc.
7. Tap Into GenAI Tools For Deeper Research
Collect diverse data from the various GPT tools. Each AI tool has its unique advantages. In sales processes, multiple stakeholders are involved, each wanting to influence the final decision on the action plan. Accessing market research data for forecasting is essential for resolving questions. Therefore, the information provided by GenAI tools can help a company’s business development team attract clients. – Gyehyon Andrea Jo, MVLASF
8. Ensure Your Team Has A Broad Range Of Experience
Having a diverse team is key to having a diversified customer base. I’m specifically talking about experience. Highlighting the uniqueness of your team will be eye candy to your customer base because they will know and trust you to take care of them for the long term. – David Strausser, Fonseca Advisers
9. Establish An Account-Based Strategy
Eighty percent of your revenue is generally driven by 20% of your customer base. First off, make sure you identify who your marquee customers are—build your entire revenue operations and sales operations engine to make sure you identify greenfield, strategic, growth and mature accounts. A well-diversified customer base requires a specialized account-based strategy that identifies unique customer needs. – Archana Rao, Innova Solutions
10. Aim For Continuous Innovation
Customer diversification should be an ever-present objective in your plan, since it cushions against changes in market forces. The best approach is to expand your product’s use in segments that are not part of your current customer base. You do this by regularly innovating your product, whether that’s in how it’s used, the packaging and marketing, digitization, or another way that is relevant to your market and audience. – Mustansir Paliwala, EQUANS
11. Adapt Your Product And Message for Diverse People And Cultures
Blend tech with a human touch. Netflix nails it with personalized content that speaks to global tastes. Coca-Cola’s “Share a Coke” campaign connects cultures through personalized bottles. Nike champions diversity by featuring athletes from all backgrounds, while McDonald’s adapts menus to local flavors. Use AI for insights, but let genuine relationships build loyalty. – Sidharth Ramsinghaney, TWILIO
12. Develop And Invest In A Clear Set Of Shared Goals
A company looking to retain its customer base must commit to the outcomes it will achieve in partnership with its customers. Whether you’re a small business or an enterprise juggernaut, the onset of the relationship should include agreed-upon outcomes and goals that both parties are invested in. When renewal periods come around—and if you’ve done your job—it’s much easier to retain and expand. – Hayden Stafford, Seismic
13. Think ‘Outside In’
One factor that could have a disproportionate impact on your customers is the design of your product or service. Organizations often think “inside out”; the product or service gets designed based on the perceived behavior of customers. However, if the thinking is done “outside in,” your product or service can potentially not only appeal to and attract a wider set of customers, but also earn their business. – Bindesh Pandey, Comviva Technologies Limited
14. Respond To Negative Feedback
As a reputation expert, I see that reviews are a key tool for building trust among customers and fostering the growth of the customer base. An important point to remember is not to delete negative comments but to address them constructively. A company that acknowledges and corrects its mistakes often inspires more trust and attracts customers more effectively than one with an impeccable reputation. – Dima Raketa, Reputation House
15. Center Communications Around Your Customers
One way to retain and grow your customer base is by remaining customer-centric in your communications and outreach to ensure that you are consistently creating value for your target segment. This means that your product, customer success, account management and support teams need to work consistently on defining your roadmap, sharing updates, managing installations and resolving queries. This will lead to higher customer lifetime values and NPS. – Nimay Parekh, Security Scorecard
16. Take A Data-Driven Approach To Tailoring Offerings
By leveraging data analytics, companies can tailor their offerings to meet the unique needs and preferences of different customer segments. This approach not only enhances customer satisfaction and loyalty, but also fosters inclusivity, showing that the company values and understands the diversity of its customers. – Justin Ramsaran, R Group
17. Focus On Inclusive Marketing And Adapting To Changing Needs
To attract and retain a diverse customer base, companies should focus on inclusive marketing strategies and offer products and solutions that cater to various needs. Implementing personalized experiences backed by data-driven insights addresses diverse expectations. Consistently seeking feedback and adapting to changing needs ensures long-term loyalty across diverse customer segments. – Gunjan Paliwal
18. Emphasize Your Product’s Universal Appeal
Treat all clients equally and with respect, regardless of their scale or character. Avoid targeting specific segments—instead, show prospects that the solutions you offer can benefit anyone. To build credibility, be present and engage across diverse platforms, such as industry events and media, showcasing the results you have achieved for various clients and emphasizing the impact you’ve made over client size. – Anna Jankowska, RTB House
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