There are two types of players in every market that are responsible for keeping the market lively and attractive – Market leader and Market follower. The market leader is the player to introduce new ideas and dimensions while, market follower adopts what has been introduced or is already prevailing in the market. One of the distinguishing factors between the two players is the customer base.
In the taxi industry, customer base tends to be a crucial factor in deciding where the company is standing and how strongly it can affect industry trends. Effective marketing strategy can make a huge difference when it comes to maintaining or increasing customer base because the aim of marketing is to cater attention of more and more potential customers so that they can hire the services and play their part in lifting the company. There are some marketing strategies that do not seem to be important but their impact is commendable in increasing customer base. Let’s have a look at some of them:
Minimize Customer Defection
According to marketing experts, taxi companies can acquire customers with less marketing efforts but when it comes to retaining them, things get harder because customers start to expect more and it is difficult for the company to satisfy their needs. Due to this reason, the rate of defection increases that ultimately affects company’s reputation as well as their profitability. So, in order to minimize this rate, the taxi company has to formulate such strategies that can keep customers happy and satisfied with the services and entice them to hire the company again and again.
Strengthen Customer Relationship
For a taxi company, customer involvement is necessary because if the company doesn’t have knowledge about their preferences and expectations, there is no chance of increasing customer base. The best marketing strategy to increase customer involvement and their loyalty is to welcome their feedback and respond accordingly.
Generate Sales Leads
To generate sales leads, the taxi company needs to identify the target market and analyze what could be the best possible means to approach their target audience. For instance, they cannot apply internet-based marketing techniques on newspaper readers nor business associates can be influenced through sending blind invitations on social media platforms. Approaching target market with the suitable marketing strategies is the best way to generate fruitful sales leads.
Reward the Active Customers
If a taxi company has a pool of customers that is actively hiring and engaging with their brand, it’s good to reward them with something they have never expected. This way, the company is not only able to retain the existing customers but new customers will also start to take interest in the business, thus increasing the company’s customer base.
This marketing strategy involves featuring what the existing customers have said about the taxi company and how they are highlighting their services. Giving them respect and featuring their thoughts is a reliable way to increase customer base because this way, new customers can build their trust on the company that would lead them to hiring their services.