Who Wants Customers?
Why is it that many organisations spend huge amounts of resource trying to win customers yet some simply wait for them? What are the real reasons behind this difference?
In an effort to drive up LI etiquette, I will acknowledge everyone who responds.
Good Answers (5)
Maarten J
Marketing Data Analist / Jr. Consultant at Cmotions
Best Answers in: Organizational Development (2), Business Development (1), Customer Relationship Management (1), Positioning (1), Career Management (1), Enterprise Software (1)
Hello Ena,
This is a nice question, I have to say. I found myself writing more and more, so the answer got a bit long.
Although I'm fairly sure you chose to overstate by saying "waiting", I’ll indulge you by writing: No company actually waits completely. This is more about the visibility of their actions. All companies have to at least put some effort into acquiring new customers, but this should be a solid decision on the best allocation of resources between new and existing customers.
Without getting into macro-economics concerning competition, struggle for organizational survival, etc. which has already been said above. I'd like to address the knowledge aspect, or even an inside out perspective.
A company is never one single entity, it consists of a group of employees, and budget allocation and marketing actions are nearly always the result of some form of negotiations. In these, needs are discussed and at some point the need for customer acquisition. I imagine that it more or less boils down to 1) “ Are we forced to acquire customers?” or 2) “Do we want to acquire more customers?”, depending on their perception of the current situation. Two other well known routes to decide on the allocation of resources are heuristics and rule-of-thumb. Both, I feel, fall into the second “wanting” perception, because they do not convey a sense of pressure.
Evidently when they feel forced, it is likely they’ll be partial to allocate more resources. Whether that constitutes as “large amounts” needs to be seen. When it’s a question of wanting, they have more flexibility in this decision. The more important question that entangles this is: “What are the returns on this investment?”. Simply adding more cash, doesn’t mean you add more, or improved, effect.
Based on insight into the situation and consequently the knowledge gained from a customer base, you decide to invest an amount of resources. Companies that know their customers, know which are good customer, where they came from and so on, and therefore are likely to acquire new customers with more focus. This means they need less resources for acquisition. The “surplus” resources can then be used to development and retaining of existing customers. For a “market outsider” they then seem to be waiting for customers.
Of course there are exceptions, in which case the “focus” needs to be the masses, simply because the product or so, demands it (consider the usefullness of a telephone when they were first introduced). But these decisions also are made based on facts and knowledge.
My guess is, the companies that allocate a great deal of resources either need mass to sustain themselves or they have a gap in their customer acquisition knowledge. My personal belief is that even the companies that need the mass, should ask themselves whether or not they could focus their efforts to benefit ROI. My final answer therefore is that (lack of) knowledge and sensation of pressure are probably big drivers of the amount of resources allocated to customer acquisition.
Best regards and good luck on driving up LI etiquette,
Maarten
Terri L M
Planning and Strategies Consultant; speaker, trainer, author.
Best Answers in: Using LinkedIn (13), Change Management (12), Planning (10), Small Business (9), Staffing and Recruiting (7), Organizational Development (6), Ethics (6), Mentoring (4), Public Relations (4), Customer Service (3), Business Development (3), Non-profit Management (3), Starting Up (3), Facilities Management (2), Job Search (2), Occupational Training (2), Personnel Policies (2), Advertising (2), Events Marketing (2), Business Analytics (2), Corporate Governance (2), Labor Relations (2), Branding (2), Positioning (2), Career Management (2), Professional Networking (2), E-Commerce (2), Freelancing and Contracting (1), Conference Venues (1), Government Services (1), Direct Marketing (1), Guerrilla Marketing (1), Internet Marketing (1), Customer Relationship Management (1), Manufacturing (1), Project Management (1), Retirement and Estate Planning (1), Market Research and Definition (1), Professional Books and Resources (1), Communication and Public Speaking (1), Professional Organizations (1), Incorporation (1), Green Products (1), Enterprise Software (1), Software Development (1), Web Development (1)
It has much to do with supply and demand, and competition in the marketplace. Companies with products that have huge amounts of competition have to work hard and spend more on brand awareness and marketing to get that top-of-mind position in their crowded field. An organization with an exclusive product or service that has made their mark is more likely to be in a position where they can sit back and wait, charging and getting a premium price...think Harley-Davidson.
And, thank you for wanting to ramp up LI etiquette...it's been hurting lately. 'Questions' have become little more than links to someone's blog or web site, with no opprotunities for us to 'discuss' and help each other.
Hello Ena
In short, the difference is a combination of salesperson psychology/company culture and the relative brand power / brand equity of the company offering the product or service.
In my experience of hiring salespeople into consultative / technical selling roles at a small biotechnology company, it became easy to see that hires with a 'hunter' mentality that could prospect, generate and develop leads did MUCH better than those more used to 'farming' or 'order taking' (though these are not strictly quite the same thing).
In large companies with high brand power, MANY (but by no means all) sales people are so far removed from the lead generation process that they literally wait for the customer to call them .... or they develop a circuit of 'regular' customers where they visit to manage the relationship and take whatever orders are thrown their way.
This farming or order taking strategy will only work if the company is in the dominant 'evoked set' for a particular category or industry, the ultimate in brand power with a pseudo monopoly or oligopoly. With a launch into a new category, even an established company needs marketing to create awareness & understanding of the new category, and preference for the company's particular solution.
Companies that have yet to build or develop brand equity will need an aggressive (and STRATEGICALLY well positioned) campaign of marketing to create #1 awareness of the company, #2 knowledge of and preference for the product/service with clear linkage to the value proposition of the product/service and the needs which are met / problems solved.
Without this "preparative" marketing campaign the sales people will be 'slaughtered' as if they were on a D-day beach without fire support. Believe me ... I saw the bloodbath!! But that is a story for a different day....
The ideal for a smaller company trying to gain market entry, or market penetration / share is to create more market 'Pull' where advertising creates an influx of 'inbound marketing' - inquiries from interested customers that can be converted into leads, advanced through the funnel and closed. Otherwise you have a market 'Push' on your hands with an uphill struggle of cold calling, customer awareness and education being done almost exclusively by your sales team. This is a slow, painful and expensive method of gaining customers.
Whether you get a market 'Push' or a market 'Pull' depends upon the operational view of the strategic nature of marketing within the marketing department and their relationship balance with sales, and where resources are invested within commercial operations. Is it sales AND marketing? Or is it sales OR marketing??? ......
>matt
Octavio B
Partner and COO at Talaentia
Best Answers in: Organizational Development (160), Change Management (83), Staffing and Recruiting (82), Career Management (78), Using LinkedIn (67), Mentoring (39), Personnel Policies (38), Professional Networking (38), Business Analytics (25), Planning (25), Corporate Governance (24), Starting Up (24), Labor Relations (21), Small Business (21), Business Development (19), Job Search (16), Project Management (16), Compensation and Benefits (15), Customer Service (13), Branding (12), Communication and Public Speaking (11), Ethics (9), Education and Schools (8), Occupational Training (8), Freelancing and Contracting (7), Quality Management and Standards (6), Public Relations (5), Regulation and Compliance (4), Resume Writing (4), Sales Techniques (4), Advertising (3), Enterprise Software (3), Web Development (3), Internationalization and Localization (2), Internet Marketing (2), Manufacturing (2), Market Research and Definition (2), Positioning (2), Professional Organizations (2), Business Plans (2), Blogging (2), Car and Train Travel (1), Certification and Licenses (1), Conference Planning (1), Accounting (1), Auditing (1), Venture Capital and Private Equity (1), Economics (1), Financial Regulation (1), Mergers and Acquisitions (1), Risk Management (1), Government Policy (1), Viral Marketing (1), Customer Relationship Management (1), Lead Generation (1), Search Marketing (1), Currency Markets (1), Hedge Funds (1), Non-profit Management (1), Packaging and Labeling (1), Product Design (1), Professional Books and Resources (1), E-Commerce (1), Computers and Software (1), Telecommunications (1)
Ena,
Every company inserted in today´s business framework wish to have customers with the aim of creating individual and social welfare, please the expectations of its stockholders and for being a competitive force in the market. I hardly can imagine the prospect of an organization with no clients, and I wonder if an organization can be so arrogant that is able of adopting a wait and see attitude regarding to how to attract to its clientèle and ensure their loyalty from a long-term perspective.
This argument brings me to think about those companies that develop their business strategy around the product´s features as is usual from an engineering point of view instead of nurturing a customer-oriented attitude as is commonplace in those companies that develop their operations and business strategies considering the voice of the customers. In business contexts where the features and specifications of a product are the sole factor of take into consideration is commonplace to speculate that customer base could accept passively these superior products from an engineering point of view, when their real needs have been underestimated, dismissed or ignored.
Conversely, many of the most successful companies have invested huge sums of money to create a reputable brand around which evolves a portfolio of products or services that should theoretically satisfy customer´s needs and in some instances, reinforce individual aspirational needs to gain access to better social status.
In my experience regardless if you are a consultant or your company pursues innovation or sells goods in a market of commodities the key factor of success lies in being able to produce in the hearts and minds of their customers a persistent emotional positive response that could lead to a customer loyalty in the long term thanks to memorable experiences and positive interactions on which customers are always the cornerstone factor that justifies the existence of a company. It appears to be so easy like providing an stellar customer service, an excellent product, an unparalleled professional practice or perhaps, or a costly marketing campaign when experience has taught us that achieving such a goal consistently, could be extraordinarily hard and elusive. Let´s see why:
1. Having unsatisfied employees who do not believe in the product or are dissatisfied about their roles in their organizations may become in the main factor to lose customer base and thus erode the company´s competitive profile for the long-term.
2. In some organizations, a culture driven by administrative processes and being focused in functional issues, is usually reluctant to consider that being proactive to attract and retain customers, should be a central element of their business strategy.
3. Certain organizations where operational excellence is commonplace in some instances ignore that customers may experiment changes in their wants, aspirational needs, and that most of the times they rely in emotional patterns to make a buying decision.
4. Senior Management may have failed in applying their strategical mindset and don´t make any effort to synchronize their business strategy with their operational dynamic, to satisfy changing customer needs, and to face the perspective of loss in loyalty towards a brand or a product, in accordance with the uncertain shift of the global market landscape.
5. The arrogance of some managers and leaders, that is reinforced by a culture based on control and power and relies in past successes is an obstacle to consider that clients are the oxygen that justify the born, life, growth and demise of our organizations.
Relevant to you question, I am including links to 2 questions I have posted time ago in Linkedin Answers:
1. How does an organization can be transformed it into a customer-centric company?
2. What would you do if a growing percentage of your company’s products and services behave like commodities?
Octavio
Links:
Rick B
Owner, RIBECO GROUP management services
Best Answers in: Using LinkedIn (5), Ethics (3), Customer Service (1), Personnel Policies (1), Treaties, Agreements and Organizations (1), Business Development (1), Change Management (1), Organizational Development (1), Manufacturing (1), Career Management (1), Communication and Public Speaking (1), Computers and Software (1)
One thing is trying to gain a customer (or, at least, being smart enough to reach out to them, if "by miracle" some make it thru the door --I confess to being more of a "waiter" than a "mover"). Quite another, is knowing what the customer wants.
In my experience, the companies that don't try hard to go out and win customers, are -so paradoxically- the ones that spend more resources on KNOWING about them.
Perhaps this passive waiting isn't always a loss of time, if it helps to research and "philosophize" about... what they buy (from you? from others?) and especially why they buy, what perhaps they don't buy (but might, just yet, if you should make it attractive)...
Marketing might be rated as a function of sales, but it is what makes sales (and most other aspects of a business) make sense...
Know thy customer :)
More Answers (16)
Dave M
Fabulous wire names created at your event ★ Extraordinary traffic builder for your trade show booth ★ WireNames.com
Best Answers in: Using LinkedIn (127), Education and Schools (7), Organizational Development (7), Government Policy (6), Business Development (6), Professional Networking (6), Customer Service (5), Event Marketing and Promotions (5), Staffing and Recruiting (5), Advertising (5), Internet Marketing (5), Career Management (5), Small Business (5), Energy and Development (5), Personnel Policies (4), Computers and Software (4), Mentoring (3), Internationalization and Localization (3), Treaties, Agreements and Organizations (3), Lead Generation (3), Sales Techniques (3), Project Management (3), Business Plans (3), Green Business (3), Web Development (3), Facilities Management (2), Purchasing (2), Business Dining and Entertainment (2), Job Search (2), Conference Planning (2), Public Funding (2), Financial Regulation (2), Criminal Law (2), Property Law (2), Mobile Marketing (2), Search Marketing (2), Writing and Editing (2), Business Analytics (2), Manufacturing (2), Communication and Public Speaking (2), Ethics (2), Starting Up (2), Enterprise Software (2), Information Security (2), Wireless (2), Regulation and Compliance (1), Air Travel (1), Freelancing and Contracting (1), Conference Venues (1), Accounting (1), Economics (1), Mergers and Acquisitions (1), Risk Management (1), Government Services (1), Compensation and Benefits (1), Health Care (1), Environmental Health (1), Work-life Balance (1), Exporting/Importing (1), Corporate Law (1), Finance and Securities Law (1), Direct Marketing (1), Events Marketing (1), Customer Relationship Management (1), Change Management (1), Planning (1), Futures Markets (1), Non-profit Fundraising (1), Philanthropy (1), Social Enterpreneurship (1), Inventory Management (1), Quality Management and Standards (1), Supply Chain Management (1), Wealth Management (1), Distribution (1), Market Research and Definition (1), Professional Books and Resources (1), Green Products (1), Biotech (1), E-Commerce (1), Databases (1), Software Development (1)
It all depends on your business and where you get your business exposure...
Clarification added 22 days ago:
I've gotten to the point where I wait for folks to contact me, whether it's entertainment agents, corporations or someone looking to hire me for a private party...
Dennis H
Award Winning Logo Designer
Best Answers in: Job Search (1), Personnel Policies (1), Advertising (1), Using LinkedIn (1)
I want customers! But if I knew the answer to the second, I would not need to have answered the first the way that I did. I will keep an eye open for the responses.
ABDUL R
Writer-Thinker-Motivational Speaker - Bahrain (Lion)
Best Answers in: Using LinkedIn (7), Ethics (3), Mentoring (2), Graphic Design (2), Planning (2), Professional Organizations (2), Small Business (2), Air Travel (1), Occupational Training (1), Economics (1), Risk Management (1), Health Care (1), Environmental Health (1), Work-life Balance (1), Internationalization and Localization (1), Treaties, Agreements and Organizations (1), Public Relations (1), Organizational Development (1), Non-profit Fundraising (1), Packaging and Labeling (1), Project Management (1), Wealth Management (1), Communication and Public Speaking (1), Professional Networking (1), Starting Up (1), Energy and Development (1), Blogging (1), Wireless (1)
Ena,
Some companies go great lenghts to bring out world-class products. They pour decades of experience and expertise into their output; eventually the product becomes synonymous with quality.
When this happens customers will swarm like ants to sugar because they're confident that they'll get value for money. Its a part of brand building.
Its like you study 10-15 years and become a doctor and once you've proven yourself; people will rush to you even if you sit on top a mountain.
But if you're not qualified; you may have to make rounds knocking every door you see.
Dave M
Phoenix Signs where our signs put more dollar signs into your business!
Best Answers in: Using LinkedIn (32), Business Development (4), Graphic Design (3), Communication and Public Speaking (3), Education and Schools (2), Government Policy (2), Compensation and Benefits (2), Work-life Balance (2), Supply Chain Management (2), Branding (2), Product Design (2), Ethics (2), Starting Up (2), Customer Service (1), Facilities Management (1), Job Search (1), Mentoring (1), Conference Venues (1), Foreign Investment (1), Risk Management (1), Staffing and Recruiting (1), Treaties, Agreements and Organizations (1), Advertising (1), Internet Marketing (1), Sales Techniques (1), Writing and Editing (1), Change Management (1), Organizational Development (1), Planning (1), Social Enterpreneurship (1), Packaging and Labeling (1), Distribution (1), Market Research and Definition (1), Pricing (1), Positioning (1), Career Management (1), Professional Networking (1), Energy and Development (1), Blogging (1), Computer Networking (1), Databases (1), Telecommunications (1), Wireless (1)
Got to love the WireMan, he is one of the premier marketers on LI. Waits for customers to call? No, he puts himself out here every day, answering questions, asking questions, making himself visible and connecting.
He doesn't spam, he entertains. He keeps Top of Mind with us and his network. When one of his extensive network needs something special, a giveaway, a prize for coming to a meeting, they remember Dave and call him.
Those who simply wait for the phone to ring may do OK in an up market but in a tight market or recession, the person or company that puts the resources out to attract the attention of customers will succeed where the waiters will not.
I want to grow up and be like the WireMan.
Sahar A
Out/Inbound Marketing Consultant/ Cultural Diversity Coach/ Speaker- Motivational Speaker
Best Answers in: Using LinkedIn (46), Event Marketing and Promotions (8), Advertising (6), Internet Marketing (6), Career Management (5), Public Relations (4), Communication and Public Speaking (4), Business Dining and Entertainment (3), Events Marketing (3), Writing and Editing (3), Ethics (3), Small Business (3), Hotels (2), Travel Tools (2), Mentoring (2), Occupational Training (2), Conference Planning (2), Viral Marketing (2), Business Development (2), Sales Techniques (2), Professional Networking (2), Blogging (2), E-Commerce (2), Customer Service (1), Air Travel (1), Freelancing and Contracting (1), Job Search (1), Conference Venues (1), Economics (1), Staffing and Recruiting (1), International Law (1), Internationalization and Localization (1), Contracts (1), Guerrilla Marketing (1), Lead Generation (1), Search Marketing (1), Business Analytics (1), Organizational Development (1), Non-profit Fundraising (1), Philanthropy (1), Social Enterpreneurship (1), Positioning (1), Professional Books and Resources (1), Starting Up (1), Green Products (1), Information Security (1)
Ena:
It realy depends on what kind of business you have, pushing oneself on clients will drive them away, but promoting yourself in the right way and putting yourself under the right light will bring the clients to you
Mary L
ReloMary --> Assembling your selling, buying, moving team
Best Answers in: Using LinkedIn (35), Career Management (10), Mentoring (4), Ethics (4), Small Business (4), Staffing and Recruiting (3), Business Development (3), Sales Techniques (3), Corporate Governance (3), Change Management (3), Quality Management and Standards (3), Communication and Public Speaking (3), Government Policy (2), Public Relations (2), Planning (2), Personal Real Estate (2), Business Insurance (1), Job Search (1), Occupational Training (1), Conference Planning (1), Personnel Policies (1), Work-life Balance (1), Internationalization and Localization (1), Offshoring and Outsourcing (1), Treaties, Agreements and Organizations (1), Internet Marketing (1), Viral Marketing (1), Writing and Editing (1), Organizational Development (1), Equity Markets (1), Non-profit Fundraising (1), Product Design (1), Professional Organizations (1), Professional Networking (1), Business Plans (1), Starting Up (1)
I'm open to new customers, Ena, always.
I know of companies who just wait for customers - they are so well known and respected for what they do and have the right amount of "man" power to handle it - they do not advertise as they work by referral only. To grow a lot would change the makeup of their company - adding people and problems.
Most businesses must work at keeping their name out there and in the forefront of people's minds...otherwise someone else will catch their attention.
Links:
OK, just so I might get it. How about some examples of companies who just wait for customers that are still in business. Except for the IRS and I'm not that sure about them, I can't come up with a company that waits.
Judy B. M
Marketing Communications, B2B Specialist, Business Writer and Editor
Best Answers in: Using LinkedIn (32), Writing and Editing (11), Business Development (9), Public Relations (7), Communication and Public Speaking (5), Government Policy (4), Organizational Development (4), Staffing and Recruiting (3), Ethics (3), Professional Networking (3), Conference Planning (2), Advertising (2), Mobile Marketing (2), Planning (2), Social Enterpreneurship (2), Quality Management and Standards (2), Professional Books and Resources (2), Customer Service (1), Business Dining and Entertainment (1), Travel Tools (1), Education and Schools (1), Freelancing and Contracting (1), Resume Writing (1), Accounting (1), Economics (1), Government Services (1), Compensation and Benefits (1), Internationalization and Localization (1), Viral Marketing (1), Sales Techniques (1), Change Management (1), Non-profit Fundraising (1), Branding (1), Career Management (1), Professional Organizations (1), Business Plans (1), Starting Up (1), E-Commerce (1), Computer Networking (1), Telecommunications (1)
Depends on the type of business. Smaller service firms or one-person operations usually have more flexibility. If they're already inundated with work, and the laws of whatever' being what they are, more customers than they can handle will come unbidden via word-of-mouth, referrals and so on. For companies selling products, the more customers the merrier.
Daniel K
Export Sales Manager at RedBox (Chaoan) Stationery Co., Ltd
Best Answers in: Using LinkedIn (3), Education and Schools (1), Government Policy (1), Public Relations (1), Supply Chain Management (1), Personal Debt Management (1), Wireless (1)
Two way of getting customers, No.one is go out a find them, No.two is to invite them. Waiting for customer to come??? I doubt, even big brands need the support of advertsing, customers have to be "well-informed". So Dave Maskin is doing the right thing with the right strategy. Way to go DAVE!!! Be visible and maitain your standard.......
Lubna K
Chartered Accountant and Newspaper Columnist
Best Answers in: Using LinkedIn (6), Writing and Editing (5), Career Management (5), Ethics (5), Personnel Policies (2), Internationalization and Localization (2), Events Marketing (2), Education and Schools (1), Mentoring (1), Economics (1), Government Policy (1), Customs, Tariffs and Taxes (1), Advertising (1), Business Development (1), Public Relations (1), Corporate Governance (1), Organizational Development (1), Planning (1), Professional Books and Resources (1), Professional Organizations (1), Professional Networking (1), Business Plans (1), Green Business (1)
Hi Ena,
A bit stumped, I thought all organisations are always trying to spread and get more customers whether in the same area, or in a different geographical location. Start-ups constrained by resources may go slow, but everyone wants customers.
I think self-practitioners such as eminent advocates do not have to market and clients come to them. But organisations do have to go after customers.
If they are not, perhaps it is resource constraint, or a mind-set.
Hope you get more enlightening answers.
Best,
Lubna
My blog:
Links:
Some companies invest a lot of money in acquiring new customers. Others in keeping en developping their current customers. General rule of thumb: acquiring a new customers is five times more expensive than keeping one.
On top of this: if you make your current customer very happy they might become your ambassadors and promote you with other people. So they win new customers for you.
In order to achieve this you have to invest in Excellent Customer Services!
Nay Lin M
Cash Register at Henley Restaurants, Inc
Best Answers in: Government Policy (3), Economics (1), Government Services (1), Commodity Markets (1), Using LinkedIn (1)
I work at the fast food restaurant.
My employer has to maintain his customers because they are one who provides my salary as well as his profits.
In service industries, maintaining customers are very important because of competition.
If employers lose their customers, they lose these customers forever.
Therefore, service industries have to spend huge amounts of resource to win customers.
In contrast, I think that auto industries have to wait customers to buy the car because buying the car is more expensive than eating at fast food restaurants.
I think that the real reasons behind this difference are amounts of money customers have to pay.
Firas A
CEO ♦ Finance & FMCG Professional ♦ Real Estate Brokerage ♦ All In One ♦ One For All
Best Answers in: Using LinkedIn (77), Customer Service (3), Personnel Policies (2), Staffing and Recruiting (2), Organizational Development (2), Freelancing and Contracting (1), Mentoring (1), Event Marketing and Promotions (1), Health Administration (1), Offshoring and Outsourcing (1), Tax Law (1), Change Management (1), Ethics (1), Energy and Development (1), Telecommunications (1), Software Development (1), Wireless (1)
It depends on:
*) Industry/service Type
*) Product importance
*) Brand Names
*) Customers' Loyalty
*) Companies strategies
*) Competition
All companies need customers and should put strategies and plans to gain them..No place for waiters, what strategy is that "waiting customers"????...
In Dave case it is not an organization..Organizations are different for personal profession..Regards..
Make Ur Day A Gooood Oneeee
F.A.A.
FRANK F
—►YOUR FUTURE is MY BUSINESS —►Strategies + Keynotes + Seminars —►Innovation Economy 2010-2020
Best Answers in: Using LinkedIn (178), Organizational Development (63), Change Management (51), Government Policy (45), Economics (27), Ethics (21), Corporate Governance (20), Equity Markets (20), Mentoring (19), Staffing and Recruiting (18), Business Development (17), Career Management (16), Planning (15), Communication and Public Speaking (14), Internationalization and Localization (13), Financial Regulation (11), Internet Marketing (11), Education and Schools (10), Personnel Policies (10), Small Business (10), Business Analytics (9), Advertising (8), Professional Networking (8), Energy and Development (8), Sales Techniques (7), Writing and Editing (7), E-Commerce (7), Web Development (7), Manufacturing (6), Computers and Software (6), Job Search (5), Accounting (5), Compensation and Benefits (5), International Law (5), Lead Generation (5), Project Management (5), Quality Management and Standards (5), Blogging (5), Government Services (4), Offshoring and Outsourcing (4), Treaties, Agreements and Organizations (4), Search Marketing (4), Customer Service (3), Risk Management (3), Employment and Labor Law (3), Guerrilla Marketing (3), Public Relations (3), Customer Relationship Management (3), Currency Markets (3), Derivatives Markets (3), Futures Markets (3), Non-profit Management (3), Philanthropy (3), Social Enterpreneurship (3), Wealth Management (3), Professional Books and Resources (3), Starting Up (3), Green Products (3), Software Development (3), Certification and Licenses (2), Occupational Training (2), Resume Writing (2), Public Funding (2), Health Care (2), Exporting/Importing (2), Events Marketing (2), Viral Marketing (2), Labor Relations (2), Bond Markets (2), Inventory Management (2), Personal Investing (2), Distribution (2), Market Research and Definition (2), Biotech (2), Enterprise Software (2), Facilities Management (1), Regulation and Compliance (1), Air Travel (1), Business Dining and Entertainment (1), Travel Tools (1), Freelancing and Contracting (1), Event Marketing and Promotions (1), Conference Planning (1), Conference Venues (1), Budgeting (1), Foreign Investment (1), Government Contracts (1), Public Health and Safety (1), Criminal Law (1), Contracts (1), Corporate Law (1), Finance and Securities Law (1), Property Law (1), Direct Marketing (1), Mobile Marketing (1), Commodity Markets (1), Hedge Funds (1), Option Markets (1), Non-profit Fundraising (1), Packaging and Labeling (1), Individual Insurance (1), Personal Debt Management (1), Personal Real Estate (1), Branding (1), Industrial Design (1), Product Design (1), Pricing (1), Positioning (1), Business Plans (1), Green Business (1), Telecommunications (1)
It is not about how much or how little time,
money and other resources you invest into
acquiring and retaining customers, it is a
matter of how effectively you do so.
But the totally passive approach will only
work if you have a captive market and/or
a high-traffic location that draws walk-in
trade, simply by fact of location.
That's why bank branches traditionally
were on busy street corners. They never
advertised. They waited for customers to
come to them. Today, a small family-run
restaurant can do that without advertising,
if it has a good reputation, thanks to
word-of-mouth.
George W
Academic Development Officer : Community Engagement at Edinburgh Napier University
Matt - no
Hans - yes!
Well done Ena - but what do you plan to do with the answers?
John P
Head of Public Sector, Arval
Best Answers in: Education and Schools (1), Occupational Training (1), Government Contracts (1), Staffing and Recruiting (1), Writing and Editing (1), Change Management (1), Labor Relations (1), Organizational Development (1), Using LinkedIn (1)
Hi Ena
This is probably a stupid question and I expect everybody elese knows but what does WYNIWYG mean?
