As businesses it is always important to keep acquiring new customers on a regular basis in order to stay in the hunt for as long as may be possible. It is the responsibility of the companies to make sure that their products and services are working, that they are giving people what they want. There could be a few users of your product who are paying a lot of money or there may be thousands of people who are visiting your store and website without paying any money. It does not matter how you get customers and then keep them. All that matters is that you do so.
Being ready for the customers
However, organizations really need to ask themselves – are they ready for the customers that they are looking to get? They need to see if their teams are really equipped to handle a glut of users heading straight for their products and services. Moreover, they need to be able to evaluate their promotional strategy and its overall worth. Are they going to use the public relations methods that have been used traditionally or are they looking for inbound marketing? The first hard question that needs to be asked in this regard is if their product is ready to be bought by the user.
Judging the product quality vis-à-vis the buyers
Mark Zuckerberg has a famous quote – “move fast and break things”. For some startups this could be very-useful advice. However, when it comes to acquiring customers this might not be the soundest advice. It is always better to give customers the respect that they deserve. You must have spent plenty of time in developing your product. You should also devote a similar time in order to acquire consumers for the same. The strategy needs to be thought out with plenty of care and consideration.
Shopping is one aspect of our lives that has been impacted the most because of the technological advancements that we see around ourselves today. In fact, most of the tools that you use for shopping now may become obsolete five years down the line. Right now could be the best time to be a shopper. You have so much information around you that a wrong decision feels like a criminal act. The prices are so transparent that it is perfect and you are getting flooded with special offers every now and then. The retailers on the other hand may be experiencing nightmares right now.
How are the retailers feeling right now?
There are already plenty of names in the United States of America such as Tower Records, Linens ’n Things, Circuit City, and Borders that have fallen by the wayside. More are expected to follow suit quite soon. The retail sector experiences such disruption every five decades or so. 150 years back the modern departmental store came into being because of increase of railroad networks as well as spurt of big cities across the United States of America. 50 years after this we saw the automobile industry that spurted out cars by the millions.
History of retail sector
This was followed 50 years later by shopping malls that were full of specialty retailers. They were mainly there in the suburbs that were forming slowly at that time. They posed a major challenge the departmental stores that were operating in the cities. Discount chains such as Kmart and Wal-Mart started to spread around during the 60s and 70s. They were followed by what were known as the big-box category killers such as Home Depot and Circuit City. All these either transformed or undermined the old malls.