March 24, 2010
Business Growth, Business Risk
In today’s competitive market everyone wants to get an edge over their competitors. Entrepreneurs wish to create a brand image that can attract more and more customers towards their business. Enhancing your customer retention techniques is the only way that aims at reducing the chances of customer defections. In the current scenario, customer is the king and it becomes really difficult to grab their attention until you are loyally serving them. Improvement in your business processes will not only increase the satisfaction of your potential customer, but will also help in establishing long term relationships.
Through the below mentioned ways, we are making an effort to make you understand, how you can improvise your business techniques and accomplish the tough task of retaining customer satisfaction.
Market your product rather than selling it :- It is always advisable to manufacture products that can meet the exact needs of the customers rather than selling the product that may match the customers’ demands. This one factor creates a huge difference in customer retention that results in a huge gap between the customer’s expectation and your perception. If you manufacture products as per consumer’s perspective they will feel that you actually understand their needs. The expectations emerged out of this will turn into their desire for your product or service.
Personal Touch :- Buyer’s today appreciate the personal touch of a manufacturer instead of their commercial conduct. They purchase product as their own property and your conduct matters a lot in retaining or detaining them. The personal attention given by you will not only increase the value of your business but also add new customers to your list. The whole responsibility of attaining this resides on the shoulders of your executives who directly interact with the customers. Every business should illustrate the personal touch through all modes of communication, which are used for the growth of the business.
Categorization :- Categorizing the customers according to the percentage of revenue they are adding to your business will help a lot. It’s better to channelize your resources as well as energy in retaining those customers that will yield good financial outcomes for your business. Spending your valuable time and money on those who are not profitable is a complete waste.
Feedback :- Dual interaction with customers will assist in retaining the customers for long and also strengthen the bonding between the parties. You should give equal chance to the customers, so that they can also express their feelings and views about your products and services. Through this you can also get a scope to make improvement in your offerings as per the suggestions given by them. Complaints like appreciation should be taken in a positive manner
Following these simple ways, will not only retain customers, but also provides a chance of making improvements in business structure as well as offerings. Making your process beneficial for customers will definitely lead you to have high financial outcomes and not to forget long term relation with the consumers.
March 20, 2010
What according to you is the most vital thing that keeps a business prospering? The answer is most obvious- customer satisfaction. If your customer is happy, no one can stop your business from scaling new heights.
What things keep a customer happy?
Quality of the products or services
Reasonable prices of the products
But how will you judge that your customers are happy or not?
It is very important to know that your customers are satisfied as it will help you improve your business strategies and quality of the products. The feedbacks of the customers are essential for augmenting the growth of a business.
What can you do to acquire the customer’s feedbacks?
Be available to your customers: Your customers must have your postal address, contact numbers, fax, email address, etc. so that they can contact you in case of any enquiry or complaint.
Offer the customers questionnaires comprising of:
Open ended questions - the customer can give an answer in detail
Closed ended questions - it bounds the customers
How you can handle such feedbacks?
Properly train your staff: Train them to serve the customers feedback in the best possible way by understanding the sentiments of the clients.
A separate team must be hired for compiling the feedbacks and take due actions as per the feedbacks.
These feedbacks can be used to launch campaigns or various business promotion measures that will satiate the customer’s needs.
If any customer becomes aggressive then you must spend a little time calling them up and try to discuss the problem in details. This will add to the trust of the clients and satisfy them in a more efficient manner.
Thus the aforementioned tips can help you tackle the clients in a best possible manner. If your client feedback system is efficient then you can assure the customers to be happy and contented. Making your clients satisfied lets a business soar to new height of success.
March 17, 2010
Marketing Strategies, Online Advertisement, Online Business
Business Opportunity, Online Business
Internet has been a boon for the whole world, its applications and services have been very useful for almost all trades. If you are looking for an efficient and lucrative Internet based business opportunity then you have landed on the right page. Starting up with these opportunities costs nothing.
What benefits do you think Internet has provided to the businesses?
Have provided them a platform to promote all over the world
Have helped in increasing their sales
Provided various business opportunities
Have eased the mode of transaction
What are Internet based business opportunities?
Trial and error
Your determination about your goals
Time and patience
They are the opportunities that will help you earn money through Internet.
What does it require?
What are the available internet opportunities in the market?
Providing telephone support
Affiliate Marketing :- This is a sure shot way of earning money through Internet.
As per the amount traffic generated because of the link
Percentage of the generated sales
What you have to do?
If you have your own website or are contributing to any website with the help of webmaster access then you can add affiliate links to that site. Your just have to make sure that the people visiting your site, goes to the site of the affiliate sponsor. You are handsomely paid by the affiliate sponsors either:
Providing telephone support :
This is a type of service that you provide to the online companies or brick or mortar businesses.
What you have to do?
Specialized equipment is needed
Train the employees or get yourself trained
It requires more time
Besides, the aforementioned opportunities there are various other that are available on the Internet. So, all you need to do is serve the clients with best of products and services. You need to thoroughly research the market in order to the sell the products to the targeted audience. We assure that you can make huge profits if you dedicatedly and patiently use these opportunities.
March 13, 2010
Online Business, Online Payment
After setting up an established business, what is the most awaited thing? Yes an order, a business grows only when it has sufficient orders in hand. For a business online transactions have become a major source of income. But what if you start receiving fraud orders? You will end up in loses.
Online dealings are a powerful business boosting tool but are at the same time insecure in many ways. So, a company looking to avoid such kind of frauds must follow our below given tips:
Cross check the phone numbers : There are certain phone numbers that appear to be odd. You must cross check the orders that have these kinds of numbers. E.g. numbers with repeated digits 55-55555.
Check for grammatical errors : If the order that is placed carries numerous:
- Typing errors
- Grammatical mistakes
- Text entered in wrong case
Orders in bulk are alarming : If you receive a bulk order that is way bigger than your average value, chances of fraud increases. In such a case you should also check whether the product asked for is easy to avail in the area or country from which it is offered.
Duly check card holder’s name : The name on the order form and the credit card must be cautiously verified. If there is any kind of doubt you must carry a proper investigation.
Address should be verified : You must have an efficient Address Verification System in order to secure yourself from frauds. Most of the payment gateways offer this service. The name and address on the order form is verified by the bank’s address.
Be cautious of the fake email ID’s : Email addresses that are made using free services are usually fraud. Such IDs are easily created under false names.
In case you encounter any kind of uncertainty you must
- Call up the cardholder
- Call up the bank
Just be attentive while handling the online deals and take strict security measures. Any wrong order that is delivered might land you in problems. Also, it leads to devastating financial repercussions.