• Customer Service
    Marketing

    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…

  • Customer Service
    Management

    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…

  • Beauty and the Business. Photo by Startup Stock Photos. License: CC BY 4.0.
    Management

    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…

  • Supermarket
    Business Tools

    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…

  • Rich Snippets
    Marketing

    How Have Snippets Turned Into Important Social Media Tools Today?

    Harnessing the power of snippets found across the web is the new mantra in online marketing today, especially in the social media scenario. Whether it is for a product launch or an event, businesses are able to maximize the use of their Facebook pages by carrying out technical support, using the “Like” button for customer connections, creating real time forums and promoting discounts, exclusive offers, latest news and product launches. As a result, this helps to promote the profile of the company with the knowledge of their products quickly spreading though the various social networks, often leading to a viral effect, all at no cost. But the fact is, this…