16 Jan

Keeping Customers Is About Loyalty

 

Your customers demonstrate a level of loyalty to you when the buy for the first time.  If you want them to return you have to return that loyalty.  You do that by meeting certain critical expectations they have.  Spoken or unspoken, you must meet these in order to keep your customers.  Some of these expectations they will trade off, others they won’t. 

You begin any customer retention relationship with three simple questions:

  1. Why did they buy from you?
  2. If they could, how would they improve your business?
  3. How can you add value to them or their business?

How you ask these questions of your customers doesn’t matter as long as they are asked and you get an answer.  You can use a questionnaire that is personally delivered or via email, phone or traditional mail.  The point is that the customer receives the questions and provides you with the answers.  Now if you have high dollar repeat customers those should be handled differently than the average customer.  You truly want them to experience something special, so the business owner may want to personally talk to that customer and obtain the answers. 

Read More

03 Jan

Growing Your Business

As small business owners, we often dream of that 7 figure annual sales target.  We can’t wait until our company achieves its first million dollar plus year.  For some, that will happen, but if the information provided by the Small Business’s Administration is correct, anywhere from a third, to half, of businesses will fail within their first 5-years.  In most instances that failure is preventable, primarily due to the experience of the business owner coupled with poor financial management skills. 

A key contributor to a small business’s failure is growing too fast.  Yes, you read that correctly, a business can grow too fast.  If it is a small business and it grows too fast many things happen that cause failure.  The primary areas that can break down during rapid growth are:

Read More

Pin It on Pinterest