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Casual Articles - Customer Relationship Management – 2 Secrets Every Small Business Owner Should Know!
Do you have clients that take up to 60 days to pay their accounts receivable? Waiting months to get paid for your invoices can wreak havoc in your company’s cash flow, especially if you have to meet payroll, pay suppliers and pay rent. But what happens if your business can’t wait to get paid because it must meet its obligations?One solution to this problem has been gaining popularity recently. It’s called accounts receivable factoring and it allows you to turn your slow paying receivables into cash, almost immediately. It works by selling your receivables to a factoring company, who in turn, pays you on the spot. This provides you with the necessary cash flow to pay suppliers, rent and salaries.Selling
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid
At a number of business seminars and presentations, I passed out an index card and asked each person in the audience to write anonymously a single answer to each of three questions. The three questions are:1. To me money means _________.2. My current annual income is _______________.3. In order to insure happiness and contentment financially, with no more money problems and worries, my annual income would need to be __________.The answers to these three simple questions reveal how much more we attribute to money than it being a medium of exchange. Money has a range of emotional meanings hitchhiking on it: love, security, control, power, worth, freedom, success, status.In over 90% of
When was the last time you received some form of communication from a business to thank you for using their products or services or to simply maintain friendly contact with you? Once again, if you're like me, it has been a very long time.
In fact, the last time a business did that with me was almost seven years ago. I had spent several nights at a Bed & Breakfast in Colorado during the summer of 1999, and I received a Christmas card from the owners that Christmas with a picture of their house during one of Colorado's famous blizzards.
It was a nice follow-up on their part. When I received the card, it brought back the memory of the great experience and fun that I had while staying there. It also made a very nice impression on me that they had taken the time and effort to send me such a nice Christmas card (in reality, there wasn't much effort involved on their part, but recipients of this type of communication always magnify the effort in their minds).
This type of follow-up is one area in which almost all businesses fail miserably. Customer relationships are the life force of every business, yet business owners continually neglect these relationships. And it costs them dearly.
Think about all the money that a business may spend on advertising to bring in new customers. Think about all the money that a business may spend on creating a high-quality experience for their customers. Now think about how much most businesses spend to cultivate and reinforce their relationships with current customers.
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid a
The role of marketing in business may surprise you. Many books and seminars on marketing begin on how to develop the Marketing Plan. I believe this to be a mistake.You shouldn't begin thinking how you are going to market something until you first determine if you have something to market. You also need to have the ability to develop and service your product; will it work the way you say it will work; are there no adverse legal ramifications? Finally, can you sell of offer it for a profit?Finding your Niche MarketTo begin, you need to find a product that people need. Think back in your life. Was there any problem that you felt was not resolved completely? Was a solution presented t
In fact, the last time a business did that with me was almost seven years ago. I had spent several nights at a Bed & Breakfast in Colorado during the summer of 1999, and I received a Christmas card from the owners that Christmas with a picture of their house during one of Colorado's famous blizzards.
It was a nice follow-up on their part. When I received the card, it brought back the memory of the great experience and fun that I had while staying there. It also made a very nice impression on me that they had taken the time and effort to send me such a nice Christmas card (in reality, there wasn't much effort involved on their part, but recipients of this type of communication always magnify the effort in their minds).
This type of follow-up is one area in which almost all businesses fail miserably. Customer relationships are the life force of every business, yet business owners continually neglect these relationships. And it costs them dearly.
Think about all the money that a business may spend on advertising to bring in new customers. Think about all the money that a business may spend on creating a high-quality experience for their customers. Now think about how much most businesses spend to cultivate and reinforce their relationships with current customers.
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid
Today in the Maintenance industry, as in all others there are universal issues and problems that are encountered by Management. Your success as a manager depends on your ability to analyze and correct these issues and problems. In order to effectively do this you must first have a positive relationship with your team. Maintaining a positive working relationship with your co-workers is fundamental for a successful manager. As issues and problems arise your team will want to help contribute and assist you in correcting the issue at hand.At this day and age in the maintenance field networking with others has become a major source of sharing industry knowledge. By receiving advice and tips from piers, by word of mo
This type of follow-up is one area in which almost all businesses fail miserably. Customer relationships are the life force of every business, yet business owners continually neglect these relationships. And it costs them dearly.
Think about all the money that a business may spend on advertising to bring in new customers. Think about all the money that a business may spend on creating a high-quality experience for their customers. Now think about how much most businesses spend to cultivate and reinforce their relationships with current customers.
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid
If you can apply these concepts to your business environment, it would eliminate the problems that plague many companies – such as ineptitude, laziness, excuses, belligerence, and carelessness.Imagine if your company was filled with workers that were 100% devoted to its success – workers who would go through anything and everything to ensure your competitors had no chance of defeating you.You can have that peace of mind – once you learn the basic training principles that are instilled in the world’s finest military power. When you join the United States Army, Uncle Sam believes you deserve the best leadership possible – men and women who have the character and strength to achieve greatness.As a le
Think about all the money that a business may spend on advertising to bring in new customers. Think about all the money that a business may spend on creating a high-quality experience for their customers. Now think about how much most businesses spend to cultivate and reinforce their relationships with current customers.
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid
What is Trust?Online trust is similar to a contract between a retailer and a customer. Trust is an expectation that grows as customers interact with your brand. Those interactions span a range of touch points including print and broadcast advertisements, catalogs, promotional mailings, employee contact, as well as your retail and online stores. Each one is equally important; each can make or break the trust your customers and online visitors have or expect in your company.Trust is in fact what drives all commercial transactions between a retailer and customer. When you make a purchase in a retail store, you take it on trust the products are fit for their intended purpose. You trust that if it does
How about your business? What do you, as a business owner, do to cultivate your relationships with your current customers? A current satisfied customer is your greatest asset. Not only are they already predisposed to continue doing business with you, but they are one of the absolute best sources of new customers through the power of "word-of-mouth" advertising.
Sure, your paid advertising promotes your business as being "the best". But paid advertising is almost never viewed as being objective. After all, everybody's paid advertising promotes their business as being "the best".
On the other hand, when a customer who has no profit motive enthusiastically recommends your business, that recommendation is worth its' weight in gold. People will trust the independent recommendations of others. That's just one of the many reasons why you should always take good care of your customers.
Okay, so how can you cultivate a high-quality relationship with your customers? Let's start by developing a simple action plan that you can begin to use immediately.
First, you need to collect contact information for your customers. Ideally, you should choose a method of contact that fits your type of business. In my example above, the postcard with a picture of the Bed & Breakfast was a great method of contact for that particular type of business. It was personal and effective. If you sell very expensive items, then you may want to consider a personal phone call. For many businesses, email contact may be the best method.
Whatever method of contact you choose, just be sure to let your customers know that you value their privacy and will not disclose their contact information to anyone else (trust is a huge part of any relationship). In some cases, you may even have to offer a little something to encourage your customers to provide their contact information. If necessary, do so.
Second, follow-up with your customers on a regular basis. You will need to decide what that regular basis should be based on the type of business you own. If you own a dress shop, then you may want to contact your customers and let them know that you just receive
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