What is customer development process?

Answer 1

It is the process of attracting and keeping customers. It begins with everyone who might concievably buy the product or service of an organization and they are the suspects. From the suspects the company determines the prospects- those who seem to show interest in the products. The prospects are then converted into first-time customers and then into repeat customers when customers are satisfied with their buy.Repeat buyers become clients who are given preferential treatment by giving them hampers on occasions.The next thing to do is to turn the clients into members by forming membership programmes that offer benefits to customers who join. Members become advocates because they trust and relay on the organization. The advocates enthusiastically recommend the company or organization's products and services to others. The final thing to do is to change the advocates into partners,who are loyal to the company, are comfortable and would stay in the company for a very long time if not for life. Some may become inactive or drop out. Reactivate dissatisfied customers through win-back strategies and win back only those customers who have strong profit potentials.