How can Membership Loyalty Cards Grow Sales for Small Business

Membership Card
Customers are at the heart of any business. It sounds obvious, but it’s also worth taking a moment to think about. Happy customers who like what you offer spend money with you and then come back time and again are invaluable to your business. As a small business owner, you want to find more of these customers, and find a way to keep hold of the ones you have. So, how can you keep hold of those repeat customers? Try using a membership card program. Membership cards are great way to reward your loyal customers and keep them coming back to your business. Here are some additional benefits they can provide to small businesses.

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5 Effective Ways to Improve Customer Retention and Sales

Customer Service
Here’s a business priority worth embracing: Increasing customer retention. You see, not all customers are created equal. Yes, all paying customers spend money with you, and that’s something your business needs, but the real bread and butter of your business is your loyal customers. Those satisfied people who return to do business with you again and again provide you with a stable customer base and a steady income, making them worth a great deal to your business.

A study by the Harvard Business School suggests that if you can increase your customer retention rates by 5%, you could see a jump in your profits by as much as 25%. That’s good news for any business, so let’s take a look at some of the things you can do to increase customer retention rates.

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A Must Read Guide to Show-Stopping Store Displays

Store Display
Bergdorf Goodman has been a staple of New York shopping since well before it moved to its 5th Ave. location in 1928, but it was only about 14 years ago that, under the direction of design geniuses Linda Fargo and David Hoey, Bergdorf’s became a marketer’s mecca, as well.

Every season, the monumental department store dramatically reveals intricately planned window displays that impress and entice shoppers walking along 5th Avenue. The displays are loud and exciting, depicting fanciful scenes of paper cities and brass zoos constructed delicately by a team of devoted artists. The windows are often chaotic and seem scarcely related to Bergdorf’s main product of high fashion clothing — yet the displays manage to move more merchandise than most shops dream of selling in 10 years.

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Benefits of Outsourcing Customer Service for Ecommerce Startups

Call Center
For anyone operating ecommerce website one of the primary concern is to be able to handle the customer service. This is even more important for startups because they do not have resources, in terms of cash and manpower, to be able to handle the volume of calls coming in. As a result small businesses and startups end up having to shoulder the burden of managing customer service themselves. This, in turn, hurts other aspects of a business because the reality is as a single person or small team there is only so much you can handle before being burned out by the number of tasks you need to take care of. There is a potential solution, however, that can help startups focus on their primary business. By outsourcing customer service to an external firm they can not only manage the quantity of work, but also the quality of customer service at a lower cost. Here are the benefits you can achieve by outsourcing customer service.

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How to attract new customers to Grow your Business

Customers
Successful SMEs need to be constantly pushing, evolving and growing. It is a fact of any business that you will lose some customers to competition periodically, that is why attracting new customers should a key part of your future growth. They can replace the lost business to competition, and help grow your business by providing new source of growth. It does take considerable effort and time to attract new customers. Here are five ways to reach out to tomorrow’s customers, today.

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Choosing the Right Insurance Coverage for Small Business

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If you’re a business owner then you will be intimately familiar with the minefield that is business insurance. With so many different types of coverage available, it can be difficult to figure out what is the right option for your business. However it is vital that you are covered for anything that may go wrong with your staff or your customers. So here is a guide to the different types of insurance available and what you ought to be looking for.

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3 Must Follow Tips for Great Customer Service

Customer Service
Great customer service is one of the strongest foundations for a business. Consumers can tell you their favorite companies just based off their own experiences with the customer service department. That’s a lot of responsibility! However, if you know how to give your buyers the best customer service experience possible, they will happily spread the word about your products and services. Here are three customer service tips that will show you how to get there.

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Small Business Owners – Do not Neglect Existing Customers to Attract New Ones

Customer Loyalty
Every business loves to attract new customers. After all, these new customers help them get additional sales and improve profit. We are all familiar pre-approved credit card offers we receive in the mail every week, where the goal for these companies is to find new customers. Unfortunately, in the zest to attract new customers these businesses forget to pay attention to the customers they already have. As a result they are in constant churn mode of losing existing customers and finding new ones.

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Creative Ideas for Small Business Social Marketing

Creative ideas for small business social marketing
If you are a small business owner you’ll inevitably face the challenge of creating and maintaining your presence in social media. Social media presence is a must to promote your business and stay in touch with your customers. However, people will not find you and won’t follow you in social media if you don’t have regularly updated content – you have to communicate with your customers regularly and find the ways to engage them.

Services such as Facebook, Twitter and Google Plus offer you a great chance to promote your business through social media. You can even do this without a dedicated website as social networking sites offer you a surface to carry your content themselves. You just need to fill these channels with engaging content and this may require some time, and of course, resources.

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Do not Undersell – How to Set Prices for Maximum Profit

How to Price for Maximum Profit
The goal of pricing a product or service for any small business owner is to charge the maximum amount that customer is willing to pay and maximize profit. If you charge lower than what customer is willing to pay you leave money on the table. If you charge higher customer will walk out the door and you will lose profit.

To some it may seem like Black Magic, but pricing is combination of art and science. Big corporations, such as Wal-Mart, do lot of research and number crunching to figure out to the pennies exactly how much they should charge so that they get the maximum profit. This is the science side of pricing. No matter how much number crunching and data analysis you do human behavior and psychology plays a big role in customers determining whether a given price is a good deal or not. This is where art comes into play. There are number of ways in which business owners can convey the message about good deal (aka pricing) and take advantage of how customers react to that message.
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