How Scent Marketing Can Benefit Your Business

StrategyDriven Marketing and Sales Article |Scent marketing|How Scent Marketing Can Benefit Your BusinessScent marketing is a technique that has been used for many years to increase sales and improve customer satisfaction. It involves using scents to create an environment that is favorable to the customer and conducive to making a purchase. The following blog will discuss how scent marketing can benefit your business.

1) Scent Marketing Can Increase Sales

One of the most obvious benefits of using scent marketing in your business is that it can increase sales. This is because scents can have a powerful effect on people’s moods and emotions. Studies have shown that certain scents can stimulate the brain’s part responsible for memory and emotion. This means that if you use a pleasant scent in your store, customers will associate positive emotions with your brand. As a result, they are more likely to purchase from you.

There are many ways to use scent marketing to increase sales. For example, you could use diffusers to release a pleasant smell into your store or office. You could also add scented candles or potpourri to common areas. You could even use scented soaps in your bathrooms. Whatever scent you choose, make sure it is pleasant and not overwhelming.

Another way to use scent marketing to increase sales is to offer scented products for sale. This could be anything from candles to air fresheners. Customers will be more likely to purchase these items with a pleasant scent. You could also offer scented samples of your products. This is a great way to get customers to try your products and potentially make a purchase.

2) Scent Marketing Can Improve Customer Satisfaction

When customers enter a store, they first notice the smell. In fact, studies have shown that up to 80% of what we perceive as taste is actually smelled. This means that the scent of your business can have a significant impact on how customers perceive your products and services.

If you want to improve customer satisfaction, then using scent marketing is a great way to do it. A pleasant-smelling environment will make customers feel more comfortable and relaxed, leading to them making better purchase decisions.

3) Scent Marketing Can Build Brand Loyalty

When customers enter your store, they should be enveloped in a pleasing scent that subconsciously promotes your brand. This will help to create an emotional connection with your customers and build brand loyalty. A study conducted found that 70% of consumers would be likely to return to a store more often if it had a pleasant scent. Similarly, 60% of respondents said they would spend more time shopping in a store with a pleasant smell. Therefore, you can increase customer loyalty and retention rates by investing in scent marketing.

In conclusion, scent marketing can have several benefits for your business. It can increase sales, improve customer satisfaction, and build brand loyalty. If you are not using scent marketing in your business, then now is the time to start. Your customers will thank you for it!

4 Ways to Make Your Customers Feel Valued

StrategyDriven Customer Relationship Management Article |Make your customers feel valued|4 Ways to Make Your Customers Feel ValuedIf you want to make sure that your business is a success, then you have to make sure that your customers feel valued. If your customers or clients do not feel valued, then you may find that they seek the same service from elsewhere and this is the last thing that you need. If you want to do something about this, then you need to make sure that you are doing everything you can to focus on your customers and also make sure that they are respected at every stage of the process. Want to find out more? Keep on reading.

Clients are People Too

Everyone loves the feeling of being acknowledged, even in very small ways. One thing that you can do to try and help them here would be for you to ensure that you are treating them as if they are real people. They are not robots that sit on the other side of your computer screen, and they are not another number in your sales pipeline. Find out when your clients are going to be celebrating their birthday or even an anniversary. If it works for your company, then you need to try and offer them a discount if you can. This can work wonders for your sales, and you may even find that it shows your customers that you value them and the business that they bring in. Sign the discount card personally whenever you send it to them in the mail as well. If you can do this, then you’ll soon be able to make them feel more looked-after.

Give them some Personal Attention

Nothing says “very important person” than having someone actively roll out the red carpet. That being said, you do not want to suffocate your customers and clients. You do not want to pounce on them the moment they walk through the door. If you know that your clients do a lot of business with you online rather than in a storefront, then don’t send them emails all the time. If you do, then you may find that they end up feeling overwhelmed. You may even find that you end up turning them off if they feel pressured into using you, and this can cause you to lose out on business in the long run. If possible, you need to find the right balance so that you don’t seem pushy, but caring and supportive instead. This will help your customers to feel valued more than you realise. If you want to support all of your customers, then you may want to invest in something like LoopTV.

Thank Them

Whenever possible, you need to try and thank your clients for doing business with you. You do not want to overdo things here as you may come across as being false. If possible, you need to make sure that you are always genuine and that you are also speaking to them from the heart. By being authentic you can really resonate with them, and you can show them that your company cares more about them than the money they give you. This is an essential step when it comes to customer satisfaction.

Use Gift Cards

Newer clients can easily be given things like gift cards. That being said, you need to make sure that you are not forgetting about the clients that you are working with right now. Your repeat customers, who have come to you time and time again need to feel rewarded too. Loyalty programs are a great way for you to do this and it rewards them every single time they make a purchase. You might also want to think about holding a client appreciation day too. This is a set day where you can thank all of your clients for doing business with you. You have to remember that they are the reason why you are even in business, so it helps to make them feel appreciated.

So, if you can follow this guide then you should be able to make your clients feel way more looked-after and appreciated. If you can implement changes now, then it should not be long before you start seeing great results, so keep this in mind and always be mindful of tracking your bottom line. This will help you to know if the money you are investing is benefitting you in the long run. It will also help you to really push your company to that next level in terms of profit and customer satisfaction.

4 Tips for Scaling Your SaaS Business

StrategyDriven Managing Your Business Article |Scaling a SaaS Business|4 Tips for Scaling Your SaaS BusinessOnce your SaaS business is up and running, the next thing to do is start thinking about how to scale the business. Scaling the business is important because it allows for continuous business growth, growing profits, and customer number growth. Once a SaaS business stagnates, its competitors can overtake it, considering that this is a very competitive business environment. With scaling being so important, what can SaaS business owners do to ensure their businesses keep scaling?

Streamline Product Adoption

Product adoption is crucial for SaaS businesses because it makes referrals and renewals easier for your customers and those championing your products. Streamlining product adoption means adopting effective, targeted custom support so anyone who has an issue using your product can do so easily. Providing this level of support means your staff walks customers through every step of getting started with your products.

It is also essential that SaaS businesses offer as many options for product adoption as possible. These include free trials, walkthroughs and even scheduled calls with high-value customers to make the product adoption process as simple as possible.

Streamlining product adoption has various advantages – one of the most notable ones being an increase in the number of customers not only buying your products but also making recurring subscriptions. The subscription-based model is the reason for the uniqueness of SaaS businesses and should be protected and monitored at all times. An increase in the number of subscriptions and recurring customers increases the value of the business.

Improve Customer Satisfaction

Keeping customers happy is the backbone of any business that wants to remain profitable. Unhappy customers will leave and use your competitors’ products. Improving customer satisfaction helps you scale your business by helping increase not only your revenue but also your market share. Increasing customer satisfaction is also the best way to reduce customer churn which can hugely hinder your business’s growth.

Fortunately, there are a few things you can do to improve customer satisfaction. Making product adoption easy is one way, but asking for feedback, being interested in customer satisfaction through evaluations and paying attention to negative reviews will also work.

A low customer churn rate is also great for your exit strategy, especially after you have scaled your business as far as you would like and want to exit the business.

Leverage Referral Programs

Referral programs are a great way to create brand awareness and to turn loyal customers into brand ambassadors. To get started with a referral program, reach out to existing customers to ask for feedback about your products. Once you have the feedback, you should then inform them you will work on this feedback and introduce them to your referral program. You can incentivize them to share your business and its products on the platforms they have access to in exchange for potential rewards. Getting your customers to become your advocates can have various positive effects including increased brand awareness and an increase in revenues and profits.

Enter Global Markets

Entering international markets can be a scary prospect for SaaS businesses, but it remains a great scaling strategy. Doing so gives you access to more markets and opportunities, many of which might be unavailable or hard to acquire in your home country. Additionally, entering international markets allows you to provide 24/7 support while boosting your standing in the SaaS market.
Before you take this step, do your research first to see which markets would be compatible with your business. Next, establish a headquarters in the new markets and partner with other businesses to bring your products to this new market.

Scaling your SaaS business can position your business for growth and success, especially in a very competitive sector. The tips above are a great place to get started and offer something to think over as you weigh up your options.

How to Make Your Retail Store a Success

StrategyDriven Managing Your Business Article |Retail store|How to Make Your Retail Store a SuccessLaunching and creating a store that sells clothes and other accessories is fantastic. It provides you with the chance to help customers find clothing that makes them feel happy and good about themselves, and it helps you earn a living too.

Whether you sell clothes that others have designed, or you make and sell your own clothing lines, setting up a store is one of the best ways to market what you have got to offer.

However, with so much competition out there, it can be difficult to stand out from the crowd. Taking time to create a store that is appealing and attractive to customers will ensure you get a decent footfall to your store (if you have a physical location). The same applies if you have an online presence either through your own website or selling platform. It has to be attractive and enticing, or people will not want to visit your store if it is not appealing to them.

Pay attention to the small details

In a physical store, this can be anything from the signage you use to the fixtures and fittings that you will use, including Retail & Display Mannequins that show your products off. Don’t underestimate how products can affect the design of your shop, and don’t underestimate how much lighting and color schemes can affect your customers. It can influence how long people browse for and, most importantly, whether they purchase or not.

Focus on your customers

Customers can make or break a store, so ensure your customers are at the heart of your business. Ensure that every customer has a good experience. Consistency and quality are very important in customer care and satisfaction. Unhappy customers can lose you business very quickly, so keep your customers happy. Monitor your customer care and service, and always ask existing customers for feedback. Any feedback you get will help you see where you are doing well and also where they may be any underlying problems or issues.

Stay competitive

You have a good product, so you will always get customers, right? Well, no, having a good product is one thing, but staying ahead of the competition is another. Very soon, there will be others emerging in your market, so you need to stay ahead of the game. You need to be introducing new stock that keeps your store fresh, and you need to be doing at least one product launch a year. A good product launch will keep your customers happy and keep them coming back for more time and time again.

Don’t be greedy

Making money is of course, nice, but people should always come over and before profit. It is much better to build a store that you will get repeat custom from overtime, than to be greedy and build a store that is here one minute and gone the next, or one that sells products at highly inflated prices. Opening a store is a marathon, not a sprint, so work hard to build relationships over time to help you make a living.

7 Metrics to Help you Measure Success and ROI in Business

StrategyDriven Organizational Performance Measures (OPM) Article |Business Metrics|7 Metrics to Help you Measure Success and ROI in BusinessA Business metric is a useful way to understand and analyse the tracking of a business process. A business analyst should focus on metrics to measure Return on Investment (ROI) to make the business operation’s success.

You will get to know whether your company is getting the intended results or getting back to the drawing board. Measuring business success is quite challenging for many. You have to evaluate your business, define your goals, set key performance indicators (KPIs) for the objectives set, and then measure and track these KPIs. Let us cover some useful metrics that you can employ when measuring success.

Customer Satisfaction

Customer satisfaction is an essential tool in measuring your business success and marketing campaigns. It is possible to get feedback from your customers directly by adding consumer surveys to your site. This helps you in knowing your customer’s needs meaning you can tell your customers’ satisfaction rate.

You can learn what they don’t like about different facets of your business. For example, you can tell the reasons they visit your site, and if it leads to conversions. This significantly helps you in strategizing more effective marketing campaigns. Also, paying more attention to them will go a long way since your visitors are your target audience.

Customer follow-up can also be done by sending them things like an email asking the customer to rate your services. This is important as it helps in keeping your customers more satisfied.

Website Traffic

This is simply the number of visitors landing on your web pages. More users translate to more traffic to your site. Remember, your website serves as the face of your brand and your home base. The primary traffic sources are search, direct campaign, and referral. Your site may have traffic from campaigns such as banner ads as well.

To increase traffic to your website, optimize all pages on your site with relevant keywords, and boost your website security. Besides all, security plays a vital role in drawing traffic to the site, and for that, you should buy a cheap SSL certificate to help secure your web users. This will encourage more transactions because users are becoming wary of online web security. More users will only transact on safe business sites.

Cash Flow Levels

This is the measure of the difference between cash inflow and outflow. Cash inflow levels are dependent mainly on the nature of your business. For instance, you will need more cash in hand if you run a convenience store. Cash flow accounts for all the money that comes in the form of investment and goods returned, and sales revenue.

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Employee Satisfaction

Your employee’s satisfaction is as important as your customers’ satisfaction. Yes, your employee’s morale is correlated directly to business success. A much satisfied and motivated employee could turn into a more productive and effective employee. Keeping your employee’s satisfaction levels high leads to a long commitment to the company and the team.

It is essential to check whether your employees feel rewarded and are satisfied with their work. To determine your employee satisfaction, conduct team surveys to collect feedback on the teamwork and HR to collect personal satisfaction levels. You can improve your employee satisfaction by introducing some perks such as free office coffee, creating an atmosphere for work and growth, etc.

Net Profit Margin

The main aim of any business is to earn a profit. This metric shows how your pricing and total sales volume impact your business in terms of the costs contracted: the lower your profit margin, the lower or higher your cost. Your profit margin calculations should include variable expenses paid regularly, such as utilities, insurance, taxes, and salaries.

It would help if you diminished the cost in case of losing profit ratio. If you happen to make more profit than you were previously, this means that your customer base is expanding, and your sales have increased. Understanding your revenue will give you crucial insights into your business.

Customer Retention

The essence of customer retention is to keep as many customers as possible. Having loyal customers is beneficial as it helps to grow your sales and create awareness more about your services.

The retention rate shows the number of clients who make repeat purchases and use your product over an extended period. Retaining customers is achievable by having things like special rewards or customer loyalty programs for old customers.

Number of Sales

Sales indicate whether people are interested in buying your product or service. They also tell us whether your marketing efforts are paying up. However, the number of sales can be affected by other factors like recent market changes.

Sales metrics can be measured in the number of purchases made directly from the site. To increase your sales, one can hire new talent, expand your marketing goals, or introduce irresistible discount offers.

Wrap Up

This guide has provided you with a few metrics that can help in kick-starting your growth journey. You can pick some of the essential metrics based on your needs for better and effective operations.