Money goes hand in hand when it comes to running a business. For the most part, you need money in order for your company to continue to thrive and to tick along as it may have been doing up until now. However, mistakes can be made when it comes to money, and that’s really not something you want when it comes to your business. So here are some tips for using money wisely and to give you the best opportunities to have a thriving and successful business for years to come.
Be Wary Of Risk Taking
Risks are good to take for your business, but only if you can afford to do so. There are many risks that will come by throughout the course of the company’s existence. Some will be beneficial and work the risk, regardless of whether it pays off or not and some, not so much. It’s good to have a keen eye on which ones look good and then thinking about which ones are going to be the best option for your business at that time. Turning down these risks are going to set you back any more than where you’re at now. Instead, look forward to the opportunity to get that offer again, and perhaps next time you’ll be ready to front the risks. No opportunity is worth losing your business over, so always consider the pros and cons that come with each venture, whatever that might be.
Don’t Hire Too Soon
Hiring is necessary for many businesses to do, some a lot more than others depending on where your business is currently. Every staff member that is hired needs to be bringing something new and substantial, especially when you start creating new roles too. Think about whether your company needs that extra person right now or whether it can be covered by someone who is already within the organization. They might need a pay rise or promotion, but it’s not going to be as expensive as what it would be to hire someone completely brand new and have another responsibility to pay out for as a business. Try to not make rushed decisions when it comes to recruitment because it can often happen, and that ends up being a regret which might end up affecting the financial health of it too.
Get A Loan For Big Expenditures
Loans are a good way to spread the costs of bigger expenditures for your business that maybe you just can’t afford in one go. It might be for something fairly important and an opportunity that is too good or detrimental for your business to miss out on. When getting a loan, you want to make sure you’re picking the right one and that a fast business loan is what you want and can afford to pay back. Remember that this is not your money, and therefore, you need to be careful with how much you’re asking for and how quickly you can pay it back. Loans are good for short-term borrowing, but it’s important to not get tied into something for too long that you start losing more money than you intended through crazy interest rates and hidden fees.
Invest In Quality
Quality is going to save you money because most of the time, it’s not going to let you down. A lack of quality will, and it’s good to remember this when it comes to whatever you buy for the business. Whether it be your manufacturing process and the suppliers you use or the type of workstations you have for your employees. Everything needs to be something you invest your money into because it’ll hopefully avoid you having to pay any of it back in the future. Quality won’t let you down when it’s good, and when it comes to business, you don’t want that to be something that’s happening when it could potentially affect your clients or customers. The lack of quality you have in your business as a whole, the more you’re going to find yourself paying out in the future. When you’re trying to save money, that’s not what you want to be happening.
Outsource Where Possible
Outsourcing is considered to be a popular thing for all businesses to do when they maybe don’t have the space or financials to pay for an extra person to work at the company. At the same time, it’s also good to be able to find an alternative when the task or job that’s required, doesn’t need someone full-time. You might want to consider doing this if you were thinking of hiring someone. It’s a good in-between until you find that you do need them. When outsourcing, make sure you’re doing your research to find the right companies and don’t forget to keep tabs on them. It’s important to make sure that whomever you pick, is someone you can keep up communications with to ensure everything ticks along perfectly.
Do Regular Budget Meetings
Keeping tabs on your money starts with budget meetings. These are worth being quarterly to make sure that you’re keeping up to date with everything that’s changing within the company’s departments. Budgets can change, and although some departments may stick to their budgets, others might not, and so it’s also important sign-off is something you make a thing when it comes to dealing with the finances of the business. That means someone or more than one has to oversee those big expenditures that could cost your business thousands. It’s a safety net worth having so that your accounts team are aware of any big costs that might affect the business for the rest of the financial year.
Using money in your business is something that should always be monitored as your business changes and develops. Focus on regular budget meetings and not making rash decisions when it comes to recruitment or taking risks. Outsource where you can and make sure you’re investing in quality when it comes to your business, in whatever way that might be.
https://www.strategydriven.com/wp-content/uploads/blur-bottle-bright-building-273238-scaled.jpg17072560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-02-19 08:00:292020-02-19 05:50:49How To Use Money Wisely For Your Business
Businesses have a tough job on their hands when it comes to marketing and connecting with their desired audience. Research has discovered that a consumer’s brain can only process a certain amount of information before they lose concentration. Information is readily available and can be sourced by their fingertips whenever they choose. As a result, businesses are finding it tougher to engage their audiences with the vast amount of competition they’re up against.
If you’re a business owner, it’s essential you know how to capture your audience’s attention to enhance the success of your business. Here are 4 tips to keep in mind:
Avoid Prominent Branding
While the whole point of marketing is to get your brand message across, consumers don’t like to be bombarded or forced into taking action. Usually, their natural reaction is to hold back if they believe they’re being pushed to make a purchase. Within your content, take an understated approach and refrain from relying on the hard sell, which is a clever marketing technique known as ‘brand pulsing’. With this in mind, create an entertaining story around your brand and if you feel the need to incorporate your logo, ensure you keep it small and subtle to prevent distraction.
Find Out Who Your Audience Is
It’s extremely difficult to create a marketing pitch without understanding who your target market is. In order to find the right customers for your brand, you’ll need to carry out research as to who you should be targeting, based on their specific interests and needs. Some useful techniques include using Google Analytics, creating user surveys and connecting with followers on social media.
Use Video Advertising
Video advertising is becoming one of the hottest trends in marketing and boosts your chance of securing consumers by 35%. According to a study, 4 billion videos are being watched on YouTube every single day, so if you aren’t using video as part of your marketing strategy, you’re missing a trick.
Amazon and eBay are two of the world’s largest brands that have jumped on the bandwagon and have started using video advertisements to catch their audience’s attention. If you haven’t got the relevant experience to make a world-class video advertisement for your brand, it may be worth hiring a professional video production company such as Motion Giraffx to create either a 2D or 3D piece of video content to grab your audience’s attention.
Encourage your employees to have friendly conversations with your consumers, with the intention of forming a close professional connection. In doing so, you’ll help promote brand loyalty for the long term and hopefully encourage potential consumers to spread the word via word-of-mouth to their own contacts.
Your products and services have been created to satisfy a need, so play on this factor when chatting with your consumers. Express your understanding of their annoyances and how your product or service is the solution they’ve been looking for.
https://www.strategydriven.com/wp-content/uploads/microphone-2775447_1280.jpg8531280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-02-19 07:00:052020-02-18 15:56:404 Ways to Grab Consumer Attention
In 2020, there are hundreds of investment strategies out there. When it comes to the stock market, people have a wide range of strategies that work for them, especially if they want to earn a large amount of money. For property investment, there are two main strategies you should consider, and these are geared towards buy to let opportunities. As a potential investor looking to learn more about how to invest in property and the best strategies to take, you may want to keep reading to learn more about the property market and investment strategies that have proved successful in the past.
Understandably, you will need to choose an investment strategy according to what suits your lifestyle and financial situation at the time of investment. Do your research and keep in mind that if you’re knowledgeable in the area you want to invest in, you’re sure to reach your goal within no time. Before investing, remember that property investment is a lucrative opportunity. Still, it does come with risks (as does every investment), which means you should consider what you’re doing with your extra cash before purchasing a property.
Hands-off investment
Any investor out there who is looking for an investment which can continue making money without the added hassle of managing and organising a property, a hands-off investment may be the perfect strategy for you. A hands-off investment involves purchasing the property but allowing it to be a passive, side income which doesn’t interfere with your daily life.
Those who invest using this type of strategy often have a full-time job or a business they focus on during the day, and every so often has to consider their investment when they need to get something fixed. If you choose this strategy, you will most likely need to hire a property management company who will take care of tenanting, dealing with issues and anything else related to your property.
Hands-off investment gives you the freedom to make money from an investment without having to play an active part in the show – instead, you simply reap the rewards through rental repayments and capital appreciation of your property/unit. RWinvest specialises in the hands-off investment strategy and encourages investors to take this approach so that their investment doesn’t impact their life overall and leave them feeling stressed. Rather than worrying about your property and anything that could potentially go wrong with it, you can pay a monthly fee for someone else to sort this out for you.
Hands-on investment
The opposite of hands-off investment, hands-on investment involves playing an active role within the investment purchase and afterwards, too. Hands-on investment is when an investor becomes a property manager, landlord and everything in between. Those investors who work full-time or find themselves struggling for time to relax may want to avoid this investment strategy since it can be time-consuming. This is a popular strategy for investors who have multiple properties and make a large amount of capital from these properties. In doing so, you’re essentially starting your own property portfolio business, and leading the team! This strategy is efficient and works well for many but doesn’t always appeal to everyone, which is why you should consider what will fit in with your life the best.
About the Author
Olivia is a content writer for leading property investment company, RWinvest.
https://www.strategydriven.com/wp-content/uploads/markus-spiske-5gGcn2PRrtc-unsplash-scaled.jpg17072560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-02-18 21:00:002020-02-20 08:34:38Top Investment Strategies for 2020
In the modern world, relationships are more important but more complicated than ever. Social media means that we form relationships with people that we’ve never met. It means that we feel connected to our favourite celebrities and brands, even without contact. Communication is available in many different forms, and it’s easier than ever before to get in touch with people.
But it is fast-moving. Our social media feeds are changing at lightning speed, our email inboxes are filling up daily, and even though it’s easier than ever to send a message, it’s often harder to convey meaning without face to face contact and easier to be overwhelmed and miss things entirely. It’s easier than ever to talk, but it’s also easier to be misunderstood and harder to hear.
This can make it very hard for businesses. Today’s consumers expect relationships with the people that they shop with. They don’t just want to be able to make an easy purchase. They want communication, relationships, advice and responses. They want to be able to ask a question at any time of day and get an immediate reply.
For a smaller business without a large team to help, this can prove tricky. You might be wondering How Connected Are You As A Business? In this modern world connectivity is everything, and building relationships with your customers is more important than ever. Here are some ways that you can begin to improve these relationships.
Make Sure It Is Easy For Them to Get In Touch
Everyone uses social media to communicate today, right? Well, actually no. If your target market is primary people in their teens and twenties, they might, but even then, chances are they are using newer platforms like TikTok instead of good old Facebook. If your customers are older, they might still prefer to speak to you over the phone. Every now and then you may even receive a letter.
It’s impossible to know how people prefer to communicate. You can do your research, but even within demographics, the results can vary wildly. The best thing that you can do is give people options. Make sure contact details like your phone number, email, address and social media channels are clearly displayed on your website, but also in any offline marketing materials and on invoices. A simple contact form online can also be hugely effective. Make it as easy as possible by giving your customers options, and make sure you respond to all types of communication, not just those that you prefer to use.
Always Follow-Up
Follow-ups are important. Generally, customers won’t get in touch if there’s a problem, and they are even less likely to get in touch if they are happy with products or services. They walk away from your store, or checkout online and you never hear from them again.
Have a business policy to follow up sales, enquiries and other communications within a certain time. This can just be a quick email or call to make sure everything is going well and to ask if there’s anything that you can help with. This not only boosts relationships, but it also gives you a perfect opportunity to ask for feedback and a chance to make further sales.
Make Customer Service a Priority
Customer service is the most crucial ingredient when it comes to building positive relationships with your customers. It should be something that you insist upon from your staff, and that you spend time training in. Go the extra mile for customers when you can, greet them warmly in-store and take the time to get to know them. Customers should always leave your store happy, with something positive to take away, even if they don’t make a purchase.
Online, customer service is just as important. An easy to use website, fast transactions, easy to find information and clear policies go a long way. Clear communication, fast replies, and a personal touch, with a handwritten note with purchases, or a personal thank you online can also help.
Value Honesty Above All Else
Honesty is so essential when it comes to building relationships and offering excellent customer service. If something is wrong, or a delivery is going to be late; If you can’t deliver the product or service that has been ordered, or changes need to be made, you need to be honest about it.
It can be tempting to hide away when something is wrong, out of fear of letting people down, or conflict. But, most of the time, people would much rather know the truth, and they’ll respect you more for being honest with them. You are more likely to damage future relationships by lying, or not saying anything at all. As soon as you know that there’s a problem, think of ways to make it better, get in touch with your customers and offer them some alternative options. Being proactive like this can even turn a negative into a positive.
Be Realistic
Being realistic is a big part of being honest. You should always aim to under-promise and over-deliver. It’s much better than the other way around. Don’t promise to deliver the next day if it’s not feasible. Don’t offer great deals if you can’t keep it up. Give your customers realistic expectations and set yourself realistic goals, and it will be easier to keep everyone happy.
Ask for Feedback
You can’t keep everyone happy all of the time. Your customers won’t always want the same from you, and you would drive yourself mad, trying to give absolutely everyone what they want. But, knowing what they want is a great start. Ask them. Ask your customers what you are doing well, what you could improve, how they feel about your relationship, how they like to communicate and other basic questions. You can do this on social media, with an email survey, with poles and even face to face.
Appreciate Them
Asking them for feedback is a great way to make them feel valued and appreciated. Another is simply saying thank you. Loyalty schemes can be another way to boost relationships and acknowledge loyalty.
https://www.strategydriven.com/wp-content/uploads/marketing-office-working-business-33999-scaled.jpg17072560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-02-18 20:00:542020-02-18 15:44:26Building Better Relationships with Your Customers
Consumers can be picky, but there are some trends from years past that are still on the rise in 2020. While there are plenty to choose from, the three on this list are seeing big profits that don’t look like they’ll be on the decline anytime soon. So check out these three products that are likely to be everywhere this year.
CBD Products
The cannabis market has become a big industry. Now that CBD has been reclassified as a Schedule 5 drug, it’s legal to sell it to consumers and can most commonly be found in a health food or e-cigarette store. This development came after CBD as revealed to have properties that stopped seizures associated with Epilepsy. Now, it’s used to treat many different things, from muscle aches to anxiety. Due to its versatility, CBD is estimated to bring in $20 billion in profits by 2024.
Plant-Based Meat Alternatives
Meatless protein options are gaining in popularity, and not just with people who identify as vegetarian. In fact, only 7% of people who consume meat alternatives say they’re vegetarians. The biggest shift in the alternative protein market was the switch from a need-based market to a want-based market. More people want protein options so they can cut back on eating meat, even just a few days per week. This shift may have come as a result of a more eco-minded consumer trend that’s predicted to increase in the coming decade.
Wireless Speakers
Portable speakers have been popular since they came on the scene in the 1980s, so it’s no surprise that Bluetooth and other wireless speaker types are on the rise. This industry is estimated to generate close to $32 billion by 2023. The success of Bluetooth speakers can also be attributed to their affordability. These powerful little devices start around $10 each, making them a great purchase for holiday gift exchanges at the office or tokens of appreciation. On the other hand, audiophiles can purchase high-quality portable speakers, too, offering a broad market for the product.
Predicting Consumer Trends
There is no such thing as a sure thing, but if you watch the trends, you can try to foresee how consumers will behave in the coming year. Doing so helps companies and individuals decide where to place their investments. Of course, there are a lot of consumer trends out there, so do your research on a product before making a purchase.
https://www.strategydriven.com/wp-content/uploads/joshua-rawson-harris-YNaSz-E7Qss-unsplash-scaled.jpg17072560StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2020-02-18 18:00:572020-02-18 17:14:433 Consumer Trends on the Rise in 2020
A VETERAN OWNED SMALL BUSINESS | Call or text now for a FREE consultation: +1 (770) 765-3692 | Website Login
Business Programs
How To Use Money Wisely For Your Business
/in Managing Your Finances/by StrategyDrivenBe Wary Of Risk Taking
Risks are good to take for your business, but only if you can afford to do so. There are many risks that will come by throughout the course of the company’s existence. Some will be beneficial and work the risk, regardless of whether it pays off or not and some, not so much. It’s good to have a keen eye on which ones look good and then thinking about which ones are going to be the best option for your business at that time. Turning down these risks are going to set you back any more than where you’re at now. Instead, look forward to the opportunity to get that offer again, and perhaps next time you’ll be ready to front the risks. No opportunity is worth losing your business over, so always consider the pros and cons that come with each venture, whatever that might be.
Don’t Hire Too Soon
Hiring is necessary for many businesses to do, some a lot more than others depending on where your business is currently. Every staff member that is hired needs to be bringing something new and substantial, especially when you start creating new roles too. Think about whether your company needs that extra person right now or whether it can be covered by someone who is already within the organization. They might need a pay rise or promotion, but it’s not going to be as expensive as what it would be to hire someone completely brand new and have another responsibility to pay out for as a business. Try to not make rushed decisions when it comes to recruitment because it can often happen, and that ends up being a regret which might end up affecting the financial health of it too.
Get A Loan For Big Expenditures
Loans are a good way to spread the costs of bigger expenditures for your business that maybe you just can’t afford in one go. It might be for something fairly important and an opportunity that is too good or detrimental for your business to miss out on. When getting a loan, you want to make sure you’re picking the right one and that a fast business loan is what you want and can afford to pay back. Remember that this is not your money, and therefore, you need to be careful with how much you’re asking for and how quickly you can pay it back. Loans are good for short-term borrowing, but it’s important to not get tied into something for too long that you start losing more money than you intended through crazy interest rates and hidden fees.
Invest In Quality
Quality is going to save you money because most of the time, it’s not going to let you down. A lack of quality will, and it’s good to remember this when it comes to whatever you buy for the business. Whether it be your manufacturing process and the suppliers you use or the type of workstations you have for your employees. Everything needs to be something you invest your money into because it’ll hopefully avoid you having to pay any of it back in the future. Quality won’t let you down when it’s good, and when it comes to business, you don’t want that to be something that’s happening when it could potentially affect your clients or customers. The lack of quality you have in your business as a whole, the more you’re going to find yourself paying out in the future. When you’re trying to save money, that’s not what you want to be happening.
Outsourcing is considered to be a popular thing for all businesses to do when they maybe don’t have the space or financials to pay for an extra person to work at the company. At the same time, it’s also good to be able to find an alternative when the task or job that’s required, doesn’t need someone full-time. You might want to consider doing this if you were thinking of hiring someone. It’s a good in-between until you find that you do need them. When outsourcing, make sure you’re doing your research to find the right companies and don’t forget to keep tabs on them. It’s important to make sure that whomever you pick, is someone you can keep up communications with to ensure everything ticks along perfectly.
Do Regular Budget Meetings
Keeping tabs on your money starts with budget meetings. These are worth being quarterly to make sure that you’re keeping up to date with everything that’s changing within the company’s departments. Budgets can change, and although some departments may stick to their budgets, others might not, and so it’s also important sign-off is something you make a thing when it comes to dealing with the finances of the business. That means someone or more than one has to oversee those big expenditures that could cost your business thousands. It’s a safety net worth having so that your accounts team are aware of any big costs that might affect the business for the rest of the financial year.
Using money in your business is something that should always be monitored as your business changes and develops. Focus on regular budget meetings and not making rash decisions when it comes to recruitment or taking risks. Outsource where you can and make sure you’re investing in quality when it comes to your business, in whatever way that might be.
4 Ways to Grab Consumer Attention
/in Online Marketing and Website Development/by StrategyDrivenIf you’re a business owner, it’s essential you know how to capture your audience’s attention to enhance the success of your business. Here are 4 tips to keep in mind:
Avoid Prominent Branding
While the whole point of marketing is to get your brand message across, consumers don’t like to be bombarded or forced into taking action. Usually, their natural reaction is to hold back if they believe they’re being pushed to make a purchase. Within your content, take an understated approach and refrain from relying on the hard sell, which is a clever marketing technique known as ‘brand pulsing’. With this in mind, create an entertaining story around your brand and if you feel the need to incorporate your logo, ensure you keep it small and subtle to prevent distraction.
Find Out Who Your Audience Is
It’s extremely difficult to create a marketing pitch without understanding who your target market is. In order to find the right customers for your brand, you’ll need to carry out research as to who you should be targeting, based on their specific interests and needs. Some useful techniques include using Google Analytics, creating user surveys and connecting with followers on social media.
Use Video Advertising
Video advertising is becoming one of the hottest trends in marketing and boosts your chance of securing consumers by 35%. According to a study, 4 billion videos are being watched on YouTube every single day, so if you aren’t using video as part of your marketing strategy, you’re missing a trick.
Amazon and eBay are two of the world’s largest brands that have jumped on the bandwagon and have started using video advertisements to catch their audience’s attention. If you haven’t got the relevant experience to make a world-class video advertisement for your brand, it may be worth hiring a professional video production company such as Motion Giraffx to create either a 2D or 3D piece of video content to grab your audience’s attention.
Create Customer Connections
Whether you’re conducting marketing online or face-to-face, people favor businesses that take a humanized approach when connecting with their customer and clients.
Encourage your employees to have friendly conversations with your consumers, with the intention of forming a close professional connection. In doing so, you’ll help promote brand loyalty for the long term and hopefully encourage potential consumers to spread the word via word-of-mouth to their own contacts.
Your products and services have been created to satisfy a need, so play on this factor when chatting with your consumers. Express your understanding of their annoyances and how your product or service is the solution they’ve been looking for.
Top Investment Strategies for 2020
/in Starting Your Business/by Olivia HanlonUnderstandably, you will need to choose an investment strategy according to what suits your lifestyle and financial situation at the time of investment. Do your research and keep in mind that if you’re knowledgeable in the area you want to invest in, you’re sure to reach your goal within no time. Before investing, remember that property investment is a lucrative opportunity. Still, it does come with risks (as does every investment), which means you should consider what you’re doing with your extra cash before purchasing a property.
Hands-off investment
Any investor out there who is looking for an investment which can continue making money without the added hassle of managing and organising a property, a hands-off investment may be the perfect strategy for you. A hands-off investment involves purchasing the property but allowing it to be a passive, side income which doesn’t interfere with your daily life.
Those who invest using this type of strategy often have a full-time job or a business they focus on during the day, and every so often has to consider their investment when they need to get something fixed. If you choose this strategy, you will most likely need to hire a property management company who will take care of tenanting, dealing with issues and anything else related to your property.
Hands-off investment gives you the freedom to make money from an investment without having to play an active part in the show – instead, you simply reap the rewards through rental repayments and capital appreciation of your property/unit. RWinvest specialises in the hands-off investment strategy and encourages investors to take this approach so that their investment doesn’t impact their life overall and leave them feeling stressed. Rather than worrying about your property and anything that could potentially go wrong with it, you can pay a monthly fee for someone else to sort this out for you.
Hands-on investment
The opposite of hands-off investment, hands-on investment involves playing an active role within the investment purchase and afterwards, too. Hands-on investment is when an investor becomes a property manager, landlord and everything in between. Those investors who work full-time or find themselves struggling for time to relax may want to avoid this investment strategy since it can be time-consuming. This is a popular strategy for investors who have multiple properties and make a large amount of capital from these properties. In doing so, you’re essentially starting your own property portfolio business, and leading the team! This strategy is efficient and works well for many but doesn’t always appeal to everyone, which is why you should consider what will fit in with your life the best.
About the Author
Building Better Relationships with Your Customers
/in Customer Relationship Management/by StrategyDrivenBut it is fast-moving. Our social media feeds are changing at lightning speed, our email inboxes are filling up daily, and even though it’s easier than ever to send a message, it’s often harder to convey meaning without face to face contact and easier to be overwhelmed and miss things entirely. It’s easier than ever to talk, but it’s also easier to be misunderstood and harder to hear.
This can make it very hard for businesses. Today’s consumers expect relationships with the people that they shop with. They don’t just want to be able to make an easy purchase. They want communication, relationships, advice and responses. They want to be able to ask a question at any time of day and get an immediate reply.
For a smaller business without a large team to help, this can prove tricky. You might be wondering How Connected Are You As A Business? In this modern world connectivity is everything, and building relationships with your customers is more important than ever. Here are some ways that you can begin to improve these relationships.
Make Sure It Is Easy For Them to Get In Touch
Everyone uses social media to communicate today, right? Well, actually no. If your target market is primary people in their teens and twenties, they might, but even then, chances are they are using newer platforms like TikTok instead of good old Facebook. If your customers are older, they might still prefer to speak to you over the phone. Every now and then you may even receive a letter.
It’s impossible to know how people prefer to communicate. You can do your research, but even within demographics, the results can vary wildly. The best thing that you can do is give people options. Make sure contact details like your phone number, email, address and social media channels are clearly displayed on your website, but also in any offline marketing materials and on invoices. A simple contact form online can also be hugely effective. Make it as easy as possible by giving your customers options, and make sure you respond to all types of communication, not just those that you prefer to use.
Always Follow-Up
Follow-ups are important. Generally, customers won’t get in touch if there’s a problem, and they are even less likely to get in touch if they are happy with products or services. They walk away from your store, or checkout online and you never hear from them again.
Have a business policy to follow up sales, enquiries and other communications within a certain time. This can just be a quick email or call to make sure everything is going well and to ask if there’s anything that you can help with. This not only boosts relationships, but it also gives you a perfect opportunity to ask for feedback and a chance to make further sales.
Customer service is the most crucial ingredient when it comes to building positive relationships with your customers. It should be something that you insist upon from your staff, and that you spend time training in. Go the extra mile for customers when you can, greet them warmly in-store and take the time to get to know them. Customers should always leave your store happy, with something positive to take away, even if they don’t make a purchase.
Online, customer service is just as important. An easy to use website, fast transactions, easy to find information and clear policies go a long way. Clear communication, fast replies, and a personal touch, with a handwritten note with purchases, or a personal thank you online can also help.
Value Honesty Above All Else
Honesty is so essential when it comes to building relationships and offering excellent customer service. If something is wrong, or a delivery is going to be late; If you can’t deliver the product or service that has been ordered, or changes need to be made, you need to be honest about it.
It can be tempting to hide away when something is wrong, out of fear of letting people down, or conflict. But, most of the time, people would much rather know the truth, and they’ll respect you more for being honest with them. You are more likely to damage future relationships by lying, or not saying anything at all. As soon as you know that there’s a problem, think of ways to make it better, get in touch with your customers and offer them some alternative options. Being proactive like this can even turn a negative into a positive.
Be Realistic
Being realistic is a big part of being honest. You should always aim to under-promise and over-deliver. It’s much better than the other way around. Don’t promise to deliver the next day if it’s not feasible. Don’t offer great deals if you can’t keep it up. Give your customers realistic expectations and set yourself realistic goals, and it will be easier to keep everyone happy.
Ask for Feedback
You can’t keep everyone happy all of the time. Your customers won’t always want the same from you, and you would drive yourself mad, trying to give absolutely everyone what they want. But, knowing what they want is a great start. Ask them. Ask your customers what you are doing well, what you could improve, how they feel about your relationship, how they like to communicate and other basic questions. You can do this on social media, with an email survey, with poles and even face to face.
Appreciate Them
Asking them for feedback is a great way to make them feel valued and appreciated. Another is simply saying thank you. Loyalty schemes can be another way to boost relationships and acknowledge loyalty.
3 Consumer Trends on the Rise in 2020
/in StrategyDriven Editorial Perspective/by StrategyDrivenCBD Products
The cannabis market has become a big industry. Now that CBD has been reclassified as a Schedule 5 drug, it’s legal to sell it to consumers and can most commonly be found in a health food or e-cigarette store. This development came after CBD as revealed to have properties that stopped seizures associated with Epilepsy. Now, it’s used to treat many different things, from muscle aches to anxiety. Due to its versatility, CBD is estimated to bring in $20 billion in profits by 2024.
Plant-Based Meat Alternatives
Meatless protein options are gaining in popularity, and not just with people who identify as vegetarian. In fact, only 7% of people who consume meat alternatives say they’re vegetarians. The biggest shift in the alternative protein market was the switch from a need-based market to a want-based market. More people want protein options so they can cut back on eating meat, even just a few days per week. This shift may have come as a result of a more eco-minded consumer trend that’s predicted to increase in the coming decade.
Wireless Speakers
Portable speakers have been popular since they came on the scene in the 1980s, so it’s no surprise that Bluetooth and other wireless speaker types are on the rise. This industry is estimated to generate close to $32 billion by 2023. The success of Bluetooth speakers can also be attributed to their affordability. These powerful little devices start around $10 each, making them a great purchase for holiday gift exchanges at the office or tokens of appreciation. On the other hand, audiophiles can purchase high-quality portable speakers, too, offering a broad market for the product.
Predicting Consumer Trends
There is no such thing as a sure thing, but if you watch the trends, you can try to foresee how consumers will behave in the coming year. Doing so helps companies and individuals decide where to place their investments. Of course, there are a lot of consumer trends out there, so do your research on a product before making a purchase.