Using Technology to Bolster Customer Acquisition and Retention
Customer acquisition is crucial for any small business or startup that wants to thrive in today’s world, and retention is just as important. While technologies like the internet have made small businesses more visible and competitive, it’s also taken away from the face-to-face nature of the customer experience. As the world grows more connected, it seems like people are actually drifting further apart in some senses. Nevertheless, the majority of the world’s business is done online. Attracting customers and retaining them in the digital era is dependant almost entirely on the internet and customers that you’ll never meet face to face. So how do you use technology to bolster customer…
How to Increase Customer Lifetime Value
Customer lifetime value (CLV) signifies the projected net profit contribution of a customer over time. It is calculated by adding the revenue you gain from a customer and subtracting the money spent on serving them. It is always seen that the CLV is always lesser than the value of acquiring a new customer. The Marketing stats states as follows The probability of selling your product/services to a new customer is about 5-10%. Whereas, the probability of selling the same product to the existing customer would be roughly about 60-70 %. For any organisation giving emphasis on increasing the customer lifetime value is of utmost importance. There are few tricks and…
4 Ways To Improve The Quality Of Your Customer Service
Running a business means having to deal with customers. After all, without customers, your business would fail to thrive. Therefore, learning how to handle customers is essential for the positive growth and development of your company. Many companies fail to realize the importance of making a good impression on their customers and providing quality service when they need it. However, neglecting this incredibly important part of running a business could be your biggest downfall. If you want your business to create happy returning customers, you should focus on developing procedures which will do just that. Here are the best ways to deliver quality customer service and keep your clients coming…
What Is Website Session Replay And Why You Need It
Have you ever wondered why prospective customers leave your website without completing conversion? You are not alone. Many companies invest thousands and millions into their websites only to see drop in conversion rates.
5 Signs Your Startup Will Fail
Creating a new business can be a very scary thing. According to statistics from the Small Business Administration, half of all startups fail in the first 5 years, and two thirds fail after 10 years. That's very steep odds against your startup.
What Christoforo Taught Us About Communications in Business
Where others drop the ball, we can learn from their mistakes, and while there's no doubt that Christoforo certainly did, others had their hand in it as well. The good news is that we can all learn from their horrible examples!
Why the Telephone May Be the Most Important Business Tool You Have
Many have made the mistake of writing the eulogy for the lowly telephone a little too soon. People say things to the effect that the least used feature on their smartphone is the phone. Companies have demoted the phone to just another unloved app on the mobile computing device.
The Amazing Benefits of Mobile Telemetry in Fleet Management
The incorporation of mobile telemetry has greatly improved fleet management systems for many operators owing to the immense benefits accrued. Fleet management used to be a strenuous job in days gone by, as keeping tabs on your fleet on issues like location, fuel consumption, mechanical state and others would have been almost impossible.
How to Make Sure Your Staff Are Prepared for Customer Services Challenges
Working in customer services is not easy. Anyone who has had to deal with an angry and disgruntled customer knows how hard it can be. Here's how to make sure your employees are prepared for the challenge.
Top Tips for Keeping Your Business Reputable
There are innumerable factors that will decide whether a business is successful or not. Ensuring that your business stays reputable is one of the most important things to do as a business owner. This is how you do it.
Beauty and the Business: How to Compete and Thrive in the Salon Industry
The beauty industry is one of the most competitive work forces in America. Many beauty professionals fail to learn the business management aspect of their salons – and this has led to the beauty industry yielding the second highest failure rate of any industry. To truly succeed in the beauty industry, there are four important tips that every salon owner needs to understand before they undertake such a big enterprise. 1. Never forget about social media Every small business owner knows that social media is pivotal to a fledgling company. But beauty businesses have even more to gain from social media. Since they offer an aesthetic, utilizing the visual aspect of online…
Why a Mystery Shopper Will Help Your Business
Understanding the positive impact a mystery shopper will have on your business requires an understanding of how they operate and what they do. While they may enjoy shopping, mystery shoppers (sometimes called secret shoppers) are also extremely diligent in their approach to the shopping experience. They have to have good memories, be able to explain their findings in written reports, and interact with your staff naturally. They may look like an ordinary shopper, but they are anything but. A mystery shopper is a trained agent Whether working in the field, or conducting shopping exercises over the internet or telephone, a secret shopper working with the best mystery shopping groups will…
