Retain, Enhance and Acquire

Retain, Enhance and Acquire

While sales forecasting is essential, we need to focus on the following key areas:

1. Retention of business

2. Enhancing business from existing customers

3. Acquiring new business

These three aspects are not just about numbers; they require specific activities. Although we may set a numerical target, achieving that number depends on our ability to perform relevant tasks.

Retention is achieved by strengthening ongoing relationships, ensuring prompt delivery, effectively resolving issues, and adding value to our offerings.

Enhancing: This involves identifying additional needs and positioning ourselves as solution providers rather than just suppliers of services or products. When customers perceive our selflessness in approach, their trust increases, and they may be more willing to place additional orders with us.

Acquiring: While acquiring new customers can be costly, we can leverage our existing satisfied customers for referrals. These references add credibility to our discussions with new prospects.

By focusing on these three factors, we can create an effective forecasting model. We will have certainty about achieving numbers from retained customers, the potential for additional business from existing clients, and a foundation for starting with smaller numbers from new customers.

Business growth aligns with an expansion of our thinking, and success is nurtured when we prioritise retaining, enhancing, and acquiring customers.

M.L. Narendra Kumar

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