Make Your Customers Do Business With You Regularly

Make Your Customers Do Business With You Regularly - Leads2Profits.net.auCustomers nowadays have gone wiser due to the vast resource of information on the internet to select which product would benefit them. They no longer rely on product information a company provides; instead, consumers seek out opinions from blogs to social media. For this reason, you have to be smart and provide your customers enough reason to do business with you.

Here are some important reasons why your customers will patronise your product or services.

  1. Benefits. Highlight the free good stuff your customers can get if they buy from you.
  2. Solution. Be the product or service that will provide the solution to your customers’ problems.
  3. Service. Treat your customers well. Provide the best customer service and your customers will spread good news about your company and your product or services.
  4. Comfort. Provide a welcoming environment that will make your customers feel relaxed in dealing business with you.
  5. Value. Be sure that you are giving your customers their money’s worth. Avoid push selling for products they don’t really need.
  6. Timing. Spark some sense of urgency for your customer to buy from your business.
  7. Payment Options. Remember, your utmost concern is to provide convenience in your payment options so that it will be easy for your customers to buy from you. Provide as much options there is for your customers to pay you. Provide a wide range of product or service bundles and prices too.

Be sure that you discuss the reasons listed above in your marketing campaigns and that they reach your customers, prospects or leads in a manner that will make them realise the importance of your product or services in their daily lives and why they should do business with you regularly.

By |8:09 am|Customer Retention|Comments Off

Customers: Your Greatest Business Asset

Customers: Your Greatest Business Asset - leads2profits.net.au

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Customers are the lifeblood of any business. A business can only stay in business with the right number of customers and at a steady rate. Customers could either be an individual, often involving a certain title such as patrons, patients or policyholder; or it could be another business, hence the term “business to customer” (B2C) and “business to business” (B2B) respectively. Either way your business must have systems in place to make sure you keep generating the right number of customers, keep them happy and retain them.

Customers, just like your other business assets such as furniture and fixtures, have a lifetime value as well. Sadly very few business owners are able to understand this that is why they fail in continuously satisfying their customers. In fact with a satisfied customer, business income can easily be projected. If you have a regular customer who buys from you 3 or 4 times in a year, multiply that to at least 5 years, the answer would likely be that customer’s potential sales for your business. And with a satisfied customer, you can expect him or her to refer your business to 5 more persons, and the cycle continuous.

How should you protect this important “asset” of your business? Here are a few ways:

  1. Design a system that will profile your customers. The profiling should answer questions like “what is the primary reason he buys the product?” or “how often does he need the product?”.
  2. Capture their names, address and contact information as well as their business or work connections. This will determine if they have the right network to refer your business to or establish whether a “customer get customer” referral program might work.
  3. Create a strong customer service and customer feedback system. If they complain about a product find or service, find out why and look for ways to resolve the problem.
  4. Have a regular product promotion in place. Don’t always assume that they will not try your competitor’s product. Regular promotions will keep your customers excited and may even have a tendency to overbuy than usual.
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How to Attract Customers with your Exceptional Value

How to Attract Customers with your Exceptional Value - Leads2Profits.net.au

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Each customer is a source of sustainable revenue and profits. Think of one customer that buys from you, then multiply that to the average number of transaction in a given year by the average cost per transaction. If you continue to improve on your product or service then you can safely estimate the life time value of business this customer can bring to the table.
Unfortunately, not all businesses hold on to their customers. Many customers will come in and “test” your business and may even give you a few chances to impress before moving on to a competitor if you have not delivered to their expectations. Business is good when customers keep coming back; when they stop, you need to spend more resources to win new customers and the cycle continues.
What makes for a sustainable business? The answer is exceptional value. This may make you think that exceptional value only refers to products that customers use or consume; however, exceptional value also refers to service satisfaction that results from their experience with you.
What attracts customers to exceptional product or service value?

  • The product or service helps solve a nagging problem
  • The use of the product or service saves them time
  • Product or service innovation that adapts with the changing market or customer needs
  • Demonstration of value for money or practical investment
  • Socially relevant business operations or product manufacturing process
  • Products or services that are actual “needs” of customers and not just “wants”

Businesses must realise that their product or service is not the sole determinant of customer loyalty. Customers require quality service and want to feel appreciated for giving you their hard earned money!

 

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No Customers, No Business

No Customers No Business

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Regardless whether your business has the best product or service if there are no customers buying it then you still have no business to run; plain and simple. The only way new businesses can get off the ground is when they start building on customer base. Apart from new customers buying your products, the same can become your word-of-mouth marketers so that more and more customers flock in. But as many businesses are closing down left and right, getting new customers is always easier said than done.

Creativity does it

If building a successful business is just all about following an exact formula then there wouldn’t be any business suffering from lack of sales. The problem with most business owners is not keeping in mind the “changing needs” of their target market; and with that change in needs also comes a direct change in purchase behaviour. This means that what may have worked in the past for similar businesses may no longer work for today’s new breed of market. Too often new businesses follow what seems to work with the competitor in the hope of getting a slice of its market. The attempt may cause an impact only during a “market trial phase” but will not sustain it if the offer remains the same with no added or distinct value.

Go out-of-the-box

This also means going beyond your industry’s usual ideas of getting new customers. Take yourself as an example and observe how different and unrelated products vie for your attention. What makes you buy or not buy them? Is it uniqueness, colourful packaging, or value for money? Were you influenced by a good content or by a testimony of a satisfied user?

Take note of the varying marketing methods used by unrelated businesses and see what you can creatively apply in your own business. Remember that new way of doing things mean “standing out” from the crowd. This may just be exactly what your business needs.

By |5:52 am|Customer Retention|Comments Off

Customer Retention Strategies

Failure To Let Your Prospects And Customers Know The Unique Benefits They Get From Doing Business With You And Not Your Competitors.

 

Previously we discussed the importance of having a well thought out and appealing Unique Competitive Advantage, or UCA that will differentiate your business and make you stand out from your competition as unique, different and special and the business that’s most desirable to do business with.

 

Coming up with your own Unique Selling Proposition or UCA doesn’t have to be difficult. It’s simply a matter of identifying what you have to offer your clients, customers or prospects beyond what the product or service you offer can provide. It could be for example,something you offer exclusive of the features or benefits of the product or service you sell.

 

Even if the advantage you offer has to do with quality Customer retention service, dependability, convenience, or professionalism it’s not enough to just state those facts. You must find ways to quantify or identify specifically how those items benefit or provide advantage to your customers. Phrases like, “Top Quality,” “The Best, Most Reliable Customer retention Service,” “Dependable Delivery,” or “top-of-the-line products, best service, and the lowest prices,” ring hollow in the ears of your prospects and clients.

 

These are too vague and meaningless. All your competitors say the same things. You want to be very clear about how the advantages you offer will benefit your customers. Tell them exactly what they can expect from you.

 

You need to show them very clearly how much lower, how much better, how much superior or how much of an advantage they’ll get by doing business with you. Spell it out exactly, clearly and specifically what advantages and benefits they will gain. Whatever you choose to make your UCA it must be perceived as desirable.  They have to consider it to be of value to them. If they do, you will get more Customer retention, and make more sales and grow your business!

 

If you can make the UCA exclusive and proprietary to your business the less competition you’ll have. If you’re the only one who offers that something extra, whatever it may be your clients and prospects can’t get it from anyone else at any price. It’s simply not available.

 

And if that something extra is exclusive to you, no one can compete, and that gives you a supreme advantage in your marketplace.

By |7:05 am|Customer Retention|Comments Off

Customer Retention

Failure To Let Your Prospects And Customers Know The Unique Benefits They Get From Doing Business With You And Not Your Competitors.

 

“Why should I do business with you, instead of all the other options I have?”is a question that goes through your prospect’s minds before they choose to do business with you, and through each of your customer’s minds before they return to buy from you again.

 

And, it’s a question you must take the time to formulate an answer to. Without an answer, you become like every other business who sells the same products or services. It doesn’t matter what is being offered, your prospects and customers can go almost anywhere and find the exact same (or very similar) products or services offered for the same price, or perhaps for even less money than what you charge.

 

Think about your own situation. Why do you do shop at the same stores or eat at the same restaurants over and over? It may not be one single thing that influences you, but rather a combination of several factors. It’s likely the businesses you continue to support give you something special. Something unique. Something you just can’t get anywhere else. It’s that uniqueness that keeps you coming back over and over again and which build customer loyalty and customer retention.

 

If you want people to do business with you rather than your competition Customer retention , it’s imperative you have something to offer that your competition doesn’t have. Preferably something your competition can’t offer that sets you and your products or services apart from everyone else in your type of business.

 

That’s what’s known as your Unique Competitive Advantage, or UCA often referred to as a “USP” (Unique Selling Proposition),

 

No matter what you choose to use as your unique factor, it’s one of the most critical, yet most often overlooked marketing tools in business today.

 

Without a clearly defined and unique factor that differentiates you or sets you apart from everyone else who offers the same (or similar) products or services with Customer retention, your business will be no different than any other your clients or prospects will encounter, and there will be no reason for them to do business with you rather than your competitors, other than price. And the last thing you want in business is to only exist because you have the lowest price.

By |7:04 am|Customer Retention|Comments Off

Customer Satisfaction

Marketing Is THE Major Key To Success In Your Business!

Sadly most people who start a business are not aware of some of the most important factors that contribute to, and ensure their success. It’s not easy to grow your business, and have high customer satisfaction.

 

Despite what many think, designing, creating, building, and growing a successful and profitable business that holds a dominant position in the market doesn’t only require hard work, frustration, and enormous costs.

 

We all know there’s more competition than ever before, in nearly every industry and profession you care to name. Not just from local bricks and mortar type business, but increasingly from web based or international operations.

 

However, there is also more opportunity to grow your business, especially for business owners who understand a few basic and fundamental concepts. It does not matter what your business, there are just a handful of things you need to know to gain a competitive advantage in your marketplace and have high customer satisfaction.

 

And if you master just three of these most important things, you’ll be able to write your ticket to success.

 

Almost every day, in the greatest and most prosperous times the world has ever known, a huge number of businesses close their doors, never to do business again. Many reasons or excuses are tabled but bottom line is for a business to even be a business, it has to have more customer satisfaction to exchange their money for your products and services.

 

You can have all the funding in the world, you can have great management skills, and you can even have a tremendous entrepreneurial mind, but unless and until you have someone to purchase your products and services in sufficient numbers, you’ll never have a successful business,  and you’ll only generate an average income, at best.

By |6:17 am|Customer Retention|Comments Off