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- Imran Tariq is a serial entrepreneur, bestselling author, and the CEO of Webmetrix Group.
- Tariq works with seven figure companies to help them scale their businesses and become industry leaders.
- While certain business advertising can be well-spent, Tariq says there's an even more important factor for customer acquisition and retention: trust.
- Customer trust can be developed through ways other than advertising, such as providing thought leadership, utilizing strategic partnerships, and leveraging satisfied customer testimonials.
- Visit Business Insider's homepage for more stories.
Trust is the currency of the 21st century. This is especially true when you consider customer acquisition and customer retention, both of which depend heavily on consumers' belief that their needs will be met - and that the product or service they purchase will provide more value than those of competitors.
Courtesy of Imran Tariq
Imran Tariq
When starting as a new player in any given market, consumer trust - or lack thereof - can make a significant impact on whether a prospective customer chooses to patronize your business. Trust is not freely given, but that certainly doesn't mean it has to cost anything, especially not thousands of dollars in advertising spend.
Although I do run ads from time to time, here are five alternative ways I approach attracting customers and retaining them, all without considering the paid advertising route.
