Do you understand the importance of cultivating a loyal customer base? Whether you’re a one-man-band café owner or run a global giant, retaining existing customers is much more desirable for your business than having to create new ones. In fact, it costs five times as much to gain a new customer as it does to retain an existing one. Here’s why: in an already saturated consumer market, customers are understandably spoiled for options. They’ll need a lot more convincing to decide on a … [Read more...]
How to Manage Client Relationships While Scaling Up Your Business
You could be a small entrepreneur, an individual marketer, or a small enterprise run by very few people. Whatever your situation, you might be finding it difficult to manage client relationships as you grow and scale up your business. You might tend to neglect your old clients in your zeal to build new client relationships. Or you might be spending too much time and effort on retaining your existing clientele. Building client relationships can be a challenge, especially if you are a … [Read more...]
Know Everything You Have to About User Retention
A user-seller relationship is more than a business transaction. In order to keep a business stable and going, you need the loyalty of your users more than their initial introduction to your product. In short, you need to prioritize user retention. How Do You Crack the User Retention Code? After all, loyal users are satisfied and happy users. Getting the users initially to purchase a product is a good validation of the product's quality at the beginning. But given the competition … [Read more...]
7 Tips for Attracting Consumers to Your Small Business
If you’re a business owner who is just starting out, you might not have the big advertising bucks to spend on attracting consumers and staying ahead of the competition. But while TV and radio marketing can help grow your customer base, there are other steps you can take to attract a devoted following. Here are seven tips that will help you capture the attention of consumers. Strengthen Relationships Transforming a new small business into a success takes a lot of hard work. While certain … [Read more...]
Stepping Up CRM for Your Financial Services Company
With the diversification of financial services, customers have multiple options from which to choose. Switching between companies is now almost effortless. This ability has made exemplary customer relationship management (CRM) absolutely imperative. The need for a fail-proof CRM is now all the more urgent. Most financial services organizations have some sort of customer relationship management practice in place. However, there is always scope for improvement. Here are a few ways to … [Read more...]
