I have noticed that in many new companies or start-ups, usually after brokering a huge deal with investors and being valued at whatmillion dollars, they venture off to spend so much money on advertisements.
Taking a closer look at these companies, one would spot that they often have bad customer service, several issues with the products, and even existing users have a lot of complaints unresolved.
[b]But their ads are everywhere. [/b]There is nothing wrong with seeking new customers and trying to get the "word" out there, but at least, fix the burning issues first, let your pre-existing customers speak well of you and that way you will earn a lot of customers through honest referrals.

Any business expert here should shed more light on this. Thank you

Childofthelord:
I have noticed that in many new companies or start-ups, usually after a brokering a huge deal with investors and being valued at whatmillion dollars, they venture off to spend so much money on advertisement.
Taking a closer look at this companies, one would realize that they often have bad customer service, several issues with the products, and even existing users have a lot of complaints unresolved.
[b]But their ads are everywhere. [/b]There is nothing wrong with seeking new customers and trying to get the "word" out there, but at least, fix the burning issues first, let your pre-existing customers speak well of you, that way you will earn a lot of customers through honest referrals.

An example is Kuda Bank. Reviews and complaints of bad customer service, low reply to emails and password issues are everywhere even in their comment section. Agreed, not every company is perfect and their will always be bugs here and there. But refusing to fix those bugs and spending huge on advertisement is just plain misplacement of priorities, because if the new customers you acquire become unsatisfied, you will lose more money!

Any business expert here should shed more light on this. Thank you

It is plain simple...they need numbers because numbers don't lie.
The more people you can reach @your budding stage the easier for customers or patronage retainership.

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@Seniorwriter