As business-people we understand the priority that must be given to looking after our existing customers. Because of this we can sometimes overlook the need to also always be adding new customers.
In my view if a business is not adding new customers to its customer base it is dying - sometimes slowly, other times at pace.
(Let's remember that, over any reasonable time-frame, some of our existing customers will go out of business, move to other suppliers or simply be taken over by another entity with pre-existing relationships.)
My tip therefore is to, as part of your regular objective-setting, set objectives related to sales (ideally, profits) to be generated through new customers acquired and measure your results. Treat this as one of the critical KPIs.
By doing this you will have taken an important step towards keeping your business viable over the long term.
(The up-coming post for Wednesday 15/4 is It's not just about price. It's a reminder about the other factors that can lead to a sale being made.)
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