Question

What are three ways that a past customer can drive sustainable growth?

A. Word-of-mouth referral
B. As side advertising due to usage of the product
C. By reporting defects in your product
D. Repeat purchase

Answer 1

A past customer can drive sustainable growth through word-of-mouth referrals, repeat purchases, and by providing feedback such as reporting defects, which improves product quality and customer satisfaction. The correct options are A,C,D.

Step-by-step explanation:

There are several ways that a past customer can drive sustainable growth for a business. Three such ways include:

1. Word-of-mouth referral: Satisfied customers are likely to recommend a business to friends and family, leading to new customers without the need for advertising. This organic growth is often viewed as more trustworthy by potential customers.
2. Repeat purchase: Customers who return to make additional purchases provide a steady revenue stream and demonstrate loyalty to the brand, decreasing customer acquisition costs and increasing lifetime value.
3. By reporting defects in your product: Although this might not seem like direct growth, it's a form of feedback that helps improve the product, which can lead to better customer satisfaction and therefore more referrals and repeat business.

Every firm wants repeat customers and values the power of a good recommendation which is intricately linked to the firm's reputation.

A firm known for high-quality products won't have to worry about customers doubting the quality, which can justify a premium pricing strategy and ultimately contribute to sustainable growth.The correct options are A,C,D.