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I Advice - How Many Customers Would You Like With That?
Rewarding Your Employee For Their Great ServicesHow to reward your employee by using smart techniques? If you are like me, keeping the reward in mind will make it easier to stay motivated. That is the purpose of providing rewards to keep the interest level and motivation of your workers as a manager. First, I want to point out to you why setting goals is important before you go too far. Learn as manager how to set very well-defined goals helps your employees
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he doe
Selling a service isn't the same as selling a product. Your prospect is buying an intangible. There are no shiny buttons to show off. You and your company are the visible representations of the service. You need to live up to them in your image. (marketing) And in how you "court" the prospect. (sales)When you're marketing, you focus on opening your prospect's door. You're part of the day-to-day noise, which crowds in on her, every day. Your job is to
The advertising in the local newspapers, the business cards, the brochures, the signage on the front of the building, the signage on the vehicles, the give-aways, the promotions, all provide a professional image that attracts enquiring customers.
Business Owners put a lot of effort and money into attracting enquiries only to have most enquiries slip out of their hands like a slippery fish.
Customers have a choice, they can deal with you or go next door and deal with your competitor! So it is important that when your marketing pays off and that customer rings or walks through the door, that you convert them to a life-long customer.
The lifetime value of your customer is the total profit generated over the lifetime of his or her patronage to your business.
Say an average customer generates an average profit of $75 on the first sale, then repurchases on average 3 times in 12 months with an average repurchase profit of $150. And the average patronage life span is 2 years, then your average lifetime customer value is $975.
You could theoretically afford to spend up to $975 to bring in a new customer and break even. And thats not including the referrals they may provide in those 2 years.
Business is about creating relationships with people. Most businesses make the fatal mistake of making it far too hard for customers to start a relationship with them. They make it too hard to get potential customers to start trusting them and start using their products or services.
If you take away those hurdles and objections to use your product or service far more people will develop a relationship with you.
If you provide great value, service and results these customers will continue to deal with you. They would have no reason to go anywhere else. The fact that you had faith in your product or service and absorbed the perceived risk will be remembered by the customer, resulting in loyalty and a customer that will talk about your great service.
It is therefore very important to develop those relationships very quickly and nurture them so these customers turn into life long clients.
Most businesses fear that the customer will come in once and never again, so they try and maximise their profits on the first sale.
This is a fatal mistake because it is 6 times more expensive to sell to a new customer than to an existing customer. Your existing customer has experienced your service, trusts you and has been through your system. If they are happy they will even recommend you!
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he doe
It is a good idea to have custom trade show displays to exhibit your products and services. A good trade show display is design according to your company's vision and it gives your booth a distinctive identity of its own as you try to attract new business. A well design custom trade show display creates an impression that results in more business. You can design your own display or hire and expert to create a lasting impact in any tradeshow. Custom trade show displ
The lifetime value of your customer is the total profit generated over the lifetime of his or her patronage to your business.
Say an average customer generates an average profit of $75 on the first sale, then repurchases on average 3 times in 12 months with an average repurchase profit of $150. And the average patronage life span is 2 years, then your average lifetime customer value is $975.
You could theoretically afford to spend up to $975 to bring in a new customer and break even. And thats not including the referrals they may provide in those 2 years.
Business is about creating relationships with people. Most businesses make the fatal mistake of making it far too hard for customers to start a relationship with them. They make it too hard to get potential customers to start trusting them and start using their products or services.
If you take away those hurdles and objections to use your product or service far more people will develop a relationship with you.
If you provide great value, service and results these customers will continue to deal with you. They would have no reason to go anywhere else. The fact that you had faith in your product or service and absorbed the perceived risk will be remembered by the customer, resulting in loyalty and a customer that will talk about your great service.
It is therefore very important to develop those relationships very quickly and nurture them so these customers turn into life long clients.
Most businesses fear that the customer will come in once and never again, so they try and maximise their profits on the first sale.
This is a fatal mistake because it is 6 times more expensive to sell to a new customer than to an existing customer. Your existing customer has experienced your service, trusts you and has been through your system. If they are happy they will even recommend you!
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he doe
When we want to hire people for a corporation or non profit organization, we follow certain rules and look for appropriate qualifications and expertise so that we succeed in our aims: the investors get their money’s worth in form of financial success and enhanced prestige of the principals involved.An organization represents the interests of many people: the sponsors and the consumers. Any flaws in a corporation’s organizational capacity and management ca
Business is about creating relationships with people. Most businesses make the fatal mistake of making it far too hard for customers to start a relationship with them. They make it too hard to get potential customers to start trusting them and start using their products or services.
If you take away those hurdles and objections to use your product or service far more people will develop a relationship with you.
If you provide great value, service and results these customers will continue to deal with you. They would have no reason to go anywhere else. The fact that you had faith in your product or service and absorbed the perceived risk will be remembered by the customer, resulting in loyalty and a customer that will talk about your great service.
It is therefore very important to develop those relationships very quickly and nurture them so these customers turn into life long clients.
Most businesses fear that the customer will come in once and never again, so they try and maximise their profits on the first sale.
This is a fatal mistake because it is 6 times more expensive to sell to a new customer than to an existing customer. Your existing customer has experienced your service, trusts you and has been through your system. If they are happy they will even recommend you!
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he doe
Technical help desk support services is confined to the technical related support for software, IT, telecommunication, logistic, medical, electronics, electrical, home appliances and many more consumable products. Once the customer purchased the product from the dealers, they have to provide the help desk services for the sold product till the condition satisfied. Technical services are provided for genuine customer under certain terms and conditions. The help prov
It is therefore very important to develop those relationships very quickly and nurture them so these customers turn into life long clients.
Most businesses fear that the customer will come in once and never again, so they try and maximise their profits on the first sale.
This is a fatal mistake because it is 6 times more expensive to sell to a new customer than to an existing customer. Your existing customer has experienced your service, trusts you and has been through your system. If they are happy they will even recommend you!
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he doe
What is the most valuable asset that your firm possesses? Is it your technology, trade secrets, credit line, or customer base? Although we realize the importance of these, most of us believe that our people or our leadership teams are most valuable to us. However, there is another asset that may be even more important as your business matures. A good name or reputation allows your firm to attract quality leaders, excellent employees, key customers, and financing.r existing customer has experienced your service, trusts you and has been through your system. If they are happy they will even recommend you!
Many businesses increase their profits and customer base by shifting their focus from making a profit on the first sale to making an ongoing profit from repeat purchases over the life of the customer.
I heard of a Refrigeration Mechanic that installs heating and cooling systems in houses and offices. Now once someone has bought a heating and cooling system there is usually no need to buy another one for many years to come, unless they move.
But what he does is sends out a 6 monthly mail out offering a $19.95 service to the unit, which is usually a $49.95 charge. He offers it to his existing customers and also advertises to the market.
Now every service he completes he is actually losing $30 but by testing and measuring, his results show that 49% of people responding to the $19.95 service requested him to complete additional work resulting in an average of $124.00 of profit.
Even though he loses $30 on the initial service, in 49% of cases he makes an average of $124.00 profit. Net result is a great profit and new life-long customers in his system.
Copyright 2006 Ian McConnell
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