Why Some Companies Have Many Customers Than Other Companies
Updated 08 December 2020
A company could be in place because someone or a group of people had an idea and developed that idea which became a business, developing an idea could be stressful and a lot of entrepreneurs could go begging for money to support and grow their ideas, they can beg their parents, sisters, brothers, relatives that can be helpful to them, they try to bring that idea to life, but most at times they fail and that could be a blow on their face, this is frustrating, because it may have taken a lot of money, even years of trials and yet the idea is yet to be developed, this is why venture capitalist can come in place to help the small business person who wants to grow their idea, to be able to get the funds that they need and support them to see if that idea can become a reality, many big companies today where financially helped. A company can be hard to develop and manage, but putting things in place can help out, companies today could be valued based on many reasons, it could be revenue, management, a lot of things can influence how much a company is valued, public companies try their best to make sure that their shareholders are happy, this can influence the decisions they make, and push them to make more profit, this can be a motivation to get to the next level, if they do it well, it can make them have a lot of customers who will keep giving them money in exchange of their products and services.
Some Companies Have Been Around For A While
Most big companies today are very old and they are very experienced in what they are doing, they have been in business for decades and have acquired a lot of customers as the years goes by, this made them have a lot of customers who make them billions of dollars some of these companies have very big advertising budget and this can easily defeat small companies advertising budget, the more advertising budget a company has the more chances of it acquiring more customers, most big companies know where their customers are and re-target them so that they can engage with them and buy from them, most big companies have been repeating this process for many years.
Some Companies Are Up For The Challenge
Challenge to most companies is like a huddle they are ready to jump at any time to face the next one, this is what they have been doing for many years, facing their challenges, they are not scared to lose money, they have money set aside for future expenses, these companies are not little thinkers, they have plans in place to expand their businesses, so if a new company comes to challenge them, they can buy that company, or partner with them in some areas, but companies which are not ready to expand, they stay small for many years.
They Always Have Their Customers In Mind
Making your customers your number one priority is essential, because it makes you get connected to them and you can understand what kind of product and service that they would love to buy from you, this easily builds trust among companies and their customers, understanding what way a product can be made to attract customers and giving them the correct information on how beneficial the product will be to them, will make them feel good and they will always come to do business with you, this increases customers repeat rate and increases revenue of a company.
They Have Very Good Brand
Branding is no doubt one of the best ways to run a business, especially if you want your business to last long, this is one of the effective ways great businesses have used to keep growing their customers in a very unique manner, these companies often come out every year with different approach on how to advertise to their customers and non customers can be easily attracted to that, most companies have started advertising in a very fun and relatable way, because they have figured out that most of their customers are young and one day will grow to be old, so they want to get them when they are young and when they do so, they customers will tell their children and a good example of a company that does this is Amazon.
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