It takes a lot less energy and money to retain existing customers than it is to find new ones. Once you have customers within your grasp, don’t just let them go, sell them “drugged candy”. That is, make them want to come back for more. Provide them with excellent customer service, give them a good experience, and make them feel like royalty.
Loyal customers are worth their weight in gold. If you currently retain 60% of your customers, set a target for 70% retention rate. This will give you an …
Promoting small businesses can be tricky. This is particularly because most small companies don’t have the necessary budget to use the usual advertising medium. You shouldn’t let this hinder you from getting the word out though. Besides using radio, print ads, television ads, and direct mail, there are countless other innovative ways to advertise small businesses.
Here is a list of things you should try out:
Be involved in community events – chamber of commerce meetings, town fairs, or any other types of businesses can help you meet with your …
There are countless research, discussions, and tips about marketing but what many people fail to look into is its execution. Taking action is a very simple concept so it is surprising that countless people fail in their marketing efforts because they don’t take action.
How many times have you seen seemingly “incompetent” people get astonishing success in business? More than you care to know or remember, right? Don’t take this as a discouragement. Instead, you should look at them as inspiration because they were able to succeed despite the odds. …
Personal Traits
You’re confident.
This business isn’t gonna fail. If it does, your next try will be a success . – Perpetual optimism is a good thing, you know.
Risk taker. Most entrepreneurs are risk takers, that’s the reason why their businesses started in the first place.
“It’s an absurd idea”. Others don’t know the power of marketing.
Stubbornness. When you believe in something, you pursue it with fervor.
“I don’t like to give up”. Perseverance is key.
Thoughts about The Other Guys
9 out of 10 business will fail …
Cutting costs in business does not have to be major events that will upset the company and all its employees. A company of any size, stature and in any business can cut costs just by encouraging employees to be conscious of expenses. When employees understand that the continued operations of the company depends on cost control, most of them will be very willing to cooperate and to be a part of the process and success. Establishing common goals for the company is the first step towards efficiency. Every company, …