Tuesday, March 31, 2015
Two concepts that are increasingly gaining attention from businesses were discussed by American Printer, a resource for professionals interested in business trends, technical innovations, and strategies for raising productivity and profitability. These two concepts are LTV (Life Time Value) and CRM (Customer Relationship Management). The main reason for the increased interest is that companies commonly experience a 20-50% revenue loss annually due to customer defections. Before, companies tried to remedy this by directing their efforts towards gaining more new clients, but this turned out to be just an attempt to outrun the problem instead of facing it.
Monday, March 30, 2015
A crucial part of any business is gaining clients and retaining them. Why is client retention important? Because approximately 20% of your current customers will contribute 80% of your future revenue. Sometimes, clients may depart from your business for different reasons. The good news is that you can recover them. 1to1 Media highlighted five steps towards recovering lost clients.
Tuesday, March 10, 2015
When to Write Them, What to Write in Them
Express your gratitude after a meeting where you outlined your proposals. Thank the client for their time, and encourage them to give you a call or send you a message if they have any additional inquiries or concerns. Aside from offering further assistance, you can gently remind them when you will do a follow-up on their transaction.
After a completed sale or service or when they have referred you to their network, thank your customers or clients for trusting you and your company. You can tell them that it’s an honor to have been picked among a sea of choices, that they have made the best of choices in a competitive industry. You can also thank them for being a joy to work with (e.g. “You have been understanding and cooperative throughout our partnership, and it has been a pleasure.”)
Don’t forget to address them by name, and sign the notes personally. You can also end the card by saying you look forward to your next meeting, or to working with them again on their upcoming projects.
Monday, March 9, 2015
Across the Christian world, Easter customs vary but the symbolism remains. The event celebrates the rebirth and resurrection of Jesus Christ from the dead. To parlay into that, you can insert biblical passages specifically referring to the mystery, or customize non-biblical messages that are nonetheless inspirational and complementary, pointing to a rebirth or renewal of commitment or business relationship.
If your business is part of a local Easter celebration, plan ahead by making a special photo card showing you and your business team, and attaching the card to gifts for select recipients. You can use any of the popular motifs associated with Easter, such as rabbits carrying a multi-tasseled basket full of eggs. You can implement design cues in pastel or vibrant graphic lines.
Sharing holiday well-wishes with your loyal customers and valued clients who value their traditions can be an effective morale-booster, one of little but memorable ways to show your appreciation and support for their long and loyal patronage. In this way, too, you continue to promote and cultivate goodwill and excellent customer relations.