One of the greatest thrills in business is acquiring a new customer. Many businesses are too caught up in the excitement of acquiring new customers that they do not spend enough time or money on unlocking the value of their existing customer base. It surprises me how often business fail to regard their existing customers as one of their most valued assets.
There may not be the same excitement in getting orders from existing customers, BUT this is where the real profits are made. It is generally accepted amongst most marketing experts that it costs at least five times more to acquire a new customer than it does to get an order from an existing customer. There are many ways that you can unlock the value of your existing customer base and in this article, I will explore some of those ways with you.
The first thing a business needs to do is develop the mindset that their customer base is their most valuable asset. Customers need to be treated like gold because that is what they are to your business. Responding to the needs of your existing customers must take priority over prospecting for new customers.
To unlock the value of your customers requires that you have a range of products that will fulfil their needs. Products should be carefully chosen to ensure they are of the right quality and will meet customer needs. Your customers will often tell you what they need if you listen to them carefully and with respect. This can save you a lot of time and cost in market testing of new products.
Stay in contact with your customers. There are a variety of ways to do this and the Internet provides a cost effective means to do so. A regular newsletter for customers providing them with useful information is the most common way. However, you need to know what your customers want to make this truly effective.
Gather the preferences of your customers and monitor their buying habits. This can provide you with very valuable information. To get valuable ideas, look at some of the things Amazon does. For example, Amazon allows people to subscribe to updates on various different types of books and products. That way, they are able to provide information on a regular basis that the customer is interested in.
Amazon also had an author update service. You tell them who your favourite authors are and, whenever there is anything new by that author, you receive an email notification. They also have a facility that suggests other titles or products you may be interested in. This is based on what you are considering purchasing and what others who purchased the same item also purchased.
Do these features generate more sales from their existing customers? You bet they do! How can you use these concepts to unlock the value of your customers?
Consider ways that you can make it easy for your customers to re-order. Simple things such as not having to fill in all their details again on the order form help. That way, customers only need to advise you of changes to their details and the order process is a lot quicker.
Regularly review your customers' buying habits. This can reveal information on offers that you can make that meet their needs. Providing them with a solution to their problem will lead not only to further sales but also strong goodwill.
Customer service can be one of your strongest weapons in the battle to retain your customers. Make every effort to personalise responses to customer enquiries. Do not send standard form emails if you can avoid it. While this will take more time, the rewards will be far greater.
Be quick to honour guarantees. This will show that you mean what you say and will build strong credibility. Too often, tardiness and slow responses lead to lost credibility and lost future value of a customer. When you are treating your customers as the most important people to your business, they will find the experience rewarding and will return often.
Each business is different and has its own specific ways that can generate greater value from their existing customer base. Through this article, I hope I have helped you to start thinking more about how you can unlock the value of your customers.
Remember, the more you put into looking after your business's major asset, the more profit you will make. A side benefit is that your customers may even refer their friends and associates to your business resulting in a steady flow of new customers with a very small customer acquisition cost.
Showing posts with label Home Business. Show all posts
Showing posts with label Home Business. Show all posts
Tuesday, April 16, 2019
Use What You Know Best To Excel In Business
With energy prices going up and the job market staying flat, a great many of us are thinking about starting some kind of business to earn some extra income.
You're probably also thinking in the back of your mind that your business could take off, make a lot of money, and you could say good-bye to your boss, commuting, and spending so much time away from home.
Good for you! I KNOW you can do it and here's why.
Usually when people start thinking of going into business for themselves, they concentrate on all the things they DON'T already know. They try to learn more about computers, take a class at the community school, read reports online, and talk to others who have worked in the business.
Those things are good, but what will really help you excel in business are things you ALREADY have and know how to do well.
* Do you show up for work on time day after day? That's DISCIPLINE. It's the one must-have factor that separates the go-getters from the tire kickers. You have to be able to set your sights on something, know what you believe in, and not give up easily. You have to show up and do your job day after day until the cash starts rolling in. I know--that's common sense. But you would be surprised at how many people fail at business simply because they didn't give it a little discipline.
* Sell what you LIKE and KNOW. People like to buy from business owners who not only know a lot about the product or service, but are also ENTHUSIASTIC about it. It really helps if you know and like what you're selling. If you have a hobby, base your business around some aspect of that. One guy I know loves to play the guitar, so now he makes a fine income selling used guitars on eBay. I spent many years in body building and fitness. Now I sell a popular line of health and wellness products. If somebody wants to know why these products work, I tell them, and I tell them with enthusiasm. It works remarkably well.
* Team up with others. It's really beneficial to have help from somebody who has been in the business a while. They can save you countless hours by showing you the pitfalls of the industry. They can also greatly speed up your progress by showing you what works. But most importantly, a mentor can give you encouragement when your enthusiasm and discipline is waning. We all have those days when we get a little discouraged. An email or phone call from a mentor can get you back on track fast. And that's what it takes to succeed.
Consider these three important ideas before going into business. Then know that you CAN succeed. Creating your own business can be the best, most exciting thing you will ever do for yourself or your family. http://admarket.sale
You're probably also thinking in the back of your mind that your business could take off, make a lot of money, and you could say good-bye to your boss, commuting, and spending so much time away from home.
Good for you! I KNOW you can do it and here's why.
Usually when people start thinking of going into business for themselves, they concentrate on all the things they DON'T already know. They try to learn more about computers, take a class at the community school, read reports online, and talk to others who have worked in the business.
Those things are good, but what will really help you excel in business are things you ALREADY have and know how to do well.
* Do you show up for work on time day after day? That's DISCIPLINE. It's the one must-have factor that separates the go-getters from the tire kickers. You have to be able to set your sights on something, know what you believe in, and not give up easily. You have to show up and do your job day after day until the cash starts rolling in. I know--that's common sense. But you would be surprised at how many people fail at business simply because they didn't give it a little discipline.
* Sell what you LIKE and KNOW. People like to buy from business owners who not only know a lot about the product or service, but are also ENTHUSIASTIC about it. It really helps if you know and like what you're selling. If you have a hobby, base your business around some aspect of that. One guy I know loves to play the guitar, so now he makes a fine income selling used guitars on eBay. I spent many years in body building and fitness. Now I sell a popular line of health and wellness products. If somebody wants to know why these products work, I tell them, and I tell them with enthusiasm. It works remarkably well.
* Team up with others. It's really beneficial to have help from somebody who has been in the business a while. They can save you countless hours by showing you the pitfalls of the industry. They can also greatly speed up your progress by showing you what works. But most importantly, a mentor can give you encouragement when your enthusiasm and discipline is waning. We all have those days when we get a little discouraged. An email or phone call from a mentor can get you back on track fast. And that's what it takes to succeed.
Consider these three important ideas before going into business. Then know that you CAN succeed. Creating your own business can be the best, most exciting thing you will ever do for yourself or your family. http://admarket.sale
Saturday, March 2, 2019
3 Reasons Why Every Business Needs A Newsletter
There are many benefits you and your business can reap from publishing your own newsletter.
1. Keeping In Touch -- Your customers and clients are the lifeblood of your business. What better way to stay in touch with your existing customers than through a newsletter? A newsletter allows you to add personal touches to your relationship and celebrate milestones, both your own and your client's. In addition to furthering your relationship with your clients, a newsletter can also allow you to introduce new products, offer special sales or discounts to your existing client base, and encourage referrals.
2. Hook In New Customers -- Unless they have an immediate need or came to you through a powerful referral, most potential customers won't buy right away. Often they will shop around and compare which means you will likely never see them again. However if you have a free newsletter that offers interested clients the opportunity to learn more about you, your business, and your products for free and they can also learn more about your interaction with your existing customers. A newsletter can be a very simple strategy to turn a one-time visitor into a lifetime customer.
3. Establish Your Expertise -- No one knows more about your business than you do which makes you an expert. Likely the construction of your own business has further left you with a great deal of expertise in your field. Share your nuggets of knowledge through your newsletter to deepen your relationship with your existing customers and convince potential customers that you are the answer to their problems.
Now that I have convinced you that you need to publish your own newsletter, I want to go over a few questions that budding editors and publishers always ask.
What exactly is an electronic newsletter?
Just like their paper counterparts, electronic newsletters deliver written messages usually relating to a common theme or topic. The main difference is that an electronic newsletter transcends paper and ink and most likely only ever exists on a computer screen.
Some electronic newsletter are delivered only via email while others are delivered only on the web. Most are delivered in some combination of the two. Most of my ezines and newsletters are delivered via email but also available immediately via web page (or rather blog page) and RSS feed.
You can choose the method is most suited to you and your audience.
How do you publish an electronic newsletter?
It is much easier to start publication of your own electronic newsletter than it is to start up a print publication. You simply need to decide on a topic, name your publication and start writing. It is easy to find an audience (beyond your own customer base if you choose) through the various ezine and newsletter directories around the internet as well as going directly to the source, for example discussion boards for people interested in your topic.
You will need to determine a delivery method, which means most likely setting up your own web site or page on your existing web site; creating an archive for your issues once they are created, which could mean setting up a blog; and tracking your readers, which likely means setting up a mailing or autoresponder service. However you can use free tools to do any of these things. http://giuelith.fund
1. Keeping In Touch -- Your customers and clients are the lifeblood of your business. What better way to stay in touch with your existing customers than through a newsletter? A newsletter allows you to add personal touches to your relationship and celebrate milestones, both your own and your client's. In addition to furthering your relationship with your clients, a newsletter can also allow you to introduce new products, offer special sales or discounts to your existing client base, and encourage referrals.
2. Hook In New Customers -- Unless they have an immediate need or came to you through a powerful referral, most potential customers won't buy right away. Often they will shop around and compare which means you will likely never see them again. However if you have a free newsletter that offers interested clients the opportunity to learn more about you, your business, and your products for free and they can also learn more about your interaction with your existing customers. A newsletter can be a very simple strategy to turn a one-time visitor into a lifetime customer.
3. Establish Your Expertise -- No one knows more about your business than you do which makes you an expert. Likely the construction of your own business has further left you with a great deal of expertise in your field. Share your nuggets of knowledge through your newsletter to deepen your relationship with your existing customers and convince potential customers that you are the answer to their problems.
Now that I have convinced you that you need to publish your own newsletter, I want to go over a few questions that budding editors and publishers always ask.
What exactly is an electronic newsletter?
Just like their paper counterparts, electronic newsletters deliver written messages usually relating to a common theme or topic. The main difference is that an electronic newsletter transcends paper and ink and most likely only ever exists on a computer screen.
Some electronic newsletter are delivered only via email while others are delivered only on the web. Most are delivered in some combination of the two. Most of my ezines and newsletters are delivered via email but also available immediately via web page (or rather blog page) and RSS feed.
You can choose the method is most suited to you and your audience.
How do you publish an electronic newsletter?
It is much easier to start publication of your own electronic newsletter than it is to start up a print publication. You simply need to decide on a topic, name your publication and start writing. It is easy to find an audience (beyond your own customer base if you choose) through the various ezine and newsletter directories around the internet as well as going directly to the source, for example discussion boards for people interested in your topic.
You will need to determine a delivery method, which means most likely setting up your own web site or page on your existing web site; creating an archive for your issues once they are created, which could mean setting up a blog; and tracking your readers, which likely means setting up a mailing or autoresponder service. However you can use free tools to do any of these things. http://giuelith.fund
Monday, February 25, 2019
A Beautiful Plan – Maintaining a Down Line with RFS
A large part of success in any Network Marketing venture is understanding and taking advantage of the companies compensation plan. If the plan is garbage, you may be an expert marketer and still, you will have trouble making money with the company. Too often with network marketing companies you need to develop down lines of thousands of people before you start to see any real turnover.
RFS helps you stop worrying about where you will find thousands of people to convince to join you business by linking up with GRN (Global Resorts Network) and its accompanying compensation plan. GRN combines a MLM type comp plan with a direct sales type comp plan. It pays you big on the initial sale, one thousand dollars, but also rewards you for how deep you can grow you organization.
Your front line is totally devoted to you. You make an addition one thousand dollar commission on every sale that anyone in your front line makes, minus the first person that makes a sale in your front line, they bump up to the guy who brought you in. You make a thousand of the sale initially but not off any of the sales that this person will ever make. Don’t worry, this is designed to help you.
Maybe you have fifteen people in your front line after the second month. That is fifteen thousand dollars you made in the two months. But now your front line has also been making sales and you pulled another ten thousand from eleven sales made by your front line. All of the sales by different legs of your front line are people that could potentially become the equivalent of another person in your front line, if they make the first second line sale in that branch.
This works way down the line, rolling people up to you so you can make a thousand off of each sale they make. This makes educating, training, and motivating your down line very profitable as if can mean tens of thousands of dollars for you over and over again.
Maintain your down line, feed them your successes, teach them your ways. Get them driving as much or more traffic than you, being in more forums, blogs, articles directories, co-reg lists, co-ops, key words, networking community personalities than you could ever possibly be in yourself and profit.
RFS helps you stop worrying about where you will find thousands of people to convince to join you business by linking up with GRN (Global Resorts Network) and its accompanying compensation plan. GRN combines a MLM type comp plan with a direct sales type comp plan. It pays you big on the initial sale, one thousand dollars, but also rewards you for how deep you can grow you organization.
Your front line is totally devoted to you. You make an addition one thousand dollar commission on every sale that anyone in your front line makes, minus the first person that makes a sale in your front line, they bump up to the guy who brought you in. You make a thousand of the sale initially but not off any of the sales that this person will ever make. Don’t worry, this is designed to help you.
Maybe you have fifteen people in your front line after the second month. That is fifteen thousand dollars you made in the two months. But now your front line has also been making sales and you pulled another ten thousand from eleven sales made by your front line. All of the sales by different legs of your front line are people that could potentially become the equivalent of another person in your front line, if they make the first second line sale in that branch.
This works way down the line, rolling people up to you so you can make a thousand off of each sale they make. This makes educating, training, and motivating your down line very profitable as if can mean tens of thousands of dollars for you over and over again.
Maintain your down line, feed them your successes, teach them your ways. Get them driving as much or more traffic than you, being in more forums, blogs, articles directories, co-reg lists, co-ops, key words, networking community personalities than you could ever possibly be in yourself and profit.
Saturday, February 23, 2019
66 Ways To Promote Your product or Services
Some guru sells his program because he has 60 ways of marketing. One Dentist was asked about his marketing he said he had 100 ways and use them all. Well I came up with 66 so far. I will work on more sometime after tax season or you can email me with ones I might have missed.
The true is you can’t use them all. Some are too costly for many of us. Some won’t work. Try as many as you like and find the ones that work and work them till they stop working or you stop working, whichever comes first.
Here they are:
1. Direct to Consumers
2. Party plan
3. Rack Jobbers
4. Wholesalers
5. Mail Order House
6. Resident Buyers
7. Fairs and Exposition
8. Chain Stores
9. Discount Stores
10. Lease Departments
11. Supermarkets
12. Free Publicity
13. Sales People
14. Franchising
15. Co Party
16. U.S. Government
17. Direct Mail
18. Co-op Mailing
19. Trade shows
20. Advertising Specialties
21. PX’s
22. Premiums
23. Classifieds:
24. In Papers
25. In Magazine
26. On the net
27. In Special papers
28. Articles
29. Ezine
30. Emails
31. Sig files
32. Radio
33. Television
34. Seminars (paid to You)
35. Bill Boards
36. Flyers
37. Brochures
38. Seminars you give free
39. Telephone
40. Referrals
41. E.books
42. Free Search Engines
43. Paid Search Engines
44. Post cards
45. Yellow Page ad
46. Cross Selling with others
47. Joint Ventures
48. Telemarketing
49. Take out Boxes with ads on
50. Posters
51. Booth at Mails or stand at mall
52. Man or Women with sign about your business
53. Window Display
54. Outside Signs
55. Articles for directories on the net
56. Free downloads with ads about your business products or services
57. Free Recording
58. Free Video
59. Free CD
60. Free Report
61. Free Samples
62. Special Events
63. Contests and Sweepstakes
64. Column in a Newspaper
65. Editorial writing by you
66. Free Phone Messages
Let me know at Joetrevis@aol.com if you would like me to explain any of these in a report that your interest in. It will be at least 2 pages with a lot of information.
Advertising: http://admarket.sale/?rid=4
The true is you can’t use them all. Some are too costly for many of us. Some won’t work. Try as many as you like and find the ones that work and work them till they stop working or you stop working, whichever comes first.
Here they are:
1. Direct to Consumers
2. Party plan
3. Rack Jobbers
4. Wholesalers
5. Mail Order House
6. Resident Buyers
7. Fairs and Exposition
8. Chain Stores
9. Discount Stores
10. Lease Departments
11. Supermarkets
12. Free Publicity
13. Sales People
14. Franchising
15. Co Party
16. U.S. Government
17. Direct Mail
18. Co-op Mailing
19. Trade shows
20. Advertising Specialties
21. PX’s
22. Premiums
23. Classifieds:
24. In Papers
25. In Magazine
26. On the net
27. In Special papers
28. Articles
29. Ezine
30. Emails
31. Sig files
32. Radio
33. Television
34. Seminars (paid to You)
35. Bill Boards
36. Flyers
37. Brochures
38. Seminars you give free
39. Telephone
40. Referrals
41. E.books
42. Free Search Engines
43. Paid Search Engines
44. Post cards
45. Yellow Page ad
46. Cross Selling with others
47. Joint Ventures
48. Telemarketing
49. Take out Boxes with ads on
50. Posters
51. Booth at Mails or stand at mall
52. Man or Women with sign about your business
53. Window Display
54. Outside Signs
55. Articles for directories on the net
56. Free downloads with ads about your business products or services
57. Free Recording
58. Free Video
59. Free CD
60. Free Report
61. Free Samples
62. Special Events
63. Contests and Sweepstakes
64. Column in a Newspaper
65. Editorial writing by you
66. Free Phone Messages
Let me know at Joetrevis@aol.com if you would like me to explain any of these in a report that your interest in. It will be at least 2 pages with a lot of information.
Advertising: http://admarket.sale/?rid=4
Subscribe to:
Posts (Atom)