Why Small and Medium Enterprises Should Build a Network of Loyal Customers
By Heinrich Nicholas Small and Medium Enterprises SMEs face financial challenges that require them to effectively plan and ensure sustainability. Marketing is one of the prerequisites for business survival because it ensures there is continuous inflow of new customers, persuades and convinces customers to continue associating with the business. However, what is crucial for the sustainability of the business is how the business owner or employees treat the existing customers. Existing customers can easily be converted to loyal customers. Loyal customers are customers who make repeat purchases for a long period of time regardless of the availability of competitors. Loyal customers are willing to support the business regardless of the economic situation; in hard economic t...
