We need new clients

By Drum Digital
18 August 2016

Many entrepreneurs falsely believe that market research is a once-off activity that happens before a business is launched.

Question

I would like to find out where we’re going wrong in obtaining and attracting new clients.

Joshua answers

Image: Supplied Image: Supplied

Every business in any industry has its own unique circumstances, so there’s no fixed answer to your question. It’s always good to study the market that your business is engaged in.

I find that most successful entrepreneurs and businesses that attract many clients are always in touch with the market dynamics, to the point that they can even predict market changes.

Clients or customers are almost always the most important stakeholders in every market. You must study the behaviour of clients in your industry as far as possible. For instance, identify a competitor (similar to your business in size and experience) who seems to attract a lot of clients and study why your competitor attracts these clients. You may find that it’s the experience that the competitor offers the client, or other factors that could be within your reach.

You may also want to be a client of your competitor in order to study how the competitor treats his/her clientele. Find out what the clients are not getting from your business, or theirs, and use it to improve. You may even find that sometimes you’re not doing anything wrong – maybe clients are just persuaded by a certain brand, in which case you may also want to create a brand (over time) that many clients would like to identify with.

Find Love!

Men
Women