FOR SMALL BUSINESSES on a small budget a good database is a cost-effective marketing tool that can increase the sale value of your business and make you more attractive to partners who may want to conduct co-marketing activities.
• A two per cent increase in customer retention is equal to cutting costs by ten per cent
• Reducing lost customers by five per cent can increase profits by 25 to 125 per cent
• It’s up to five times more expensive to get new customers than it is to satisfy and retain existing customers
• Only one in 25 dissatisfied customers will express it, and
• Happy customers tell four to five others of their positive experience, while dissatisfied customers tell nine to 12 how bad it was.
The steps to creating and making the most of a customer database are to:
• Select the right database program
• Decide what information is relevant to store
• Populate, maintain and grow your database, and
• Regularly communicate with your database.
Get the right info. Use customer surveys, competitions and promotions to give you access to new prospects.
At any event you organise, sponsor or participate in, actively seek out contact details. Extend any invitations to friends of clients and remind them when you follow-up for RSVPs of any other events you are running yourself.
Using your database to increase sales from current customers is mainly about making them feel valuable. Make sure you follow up with a client after a purchase or completed project. Regular contact helps ensure that you are in constant conversation with customers and prospects increasing the likelihood of repeat purchases and referrals.
Your current customers are your most valuable resource for finding new ones. To generate referrals, you need to actively create them, not just through providing a great experience for your existing clients, but also through your systems. To do so, consider adding an annual survey to your marketing activity calendar and implementing a client loyalty or referral program. But don’t forget you must ALWAYS acknowledge a referral. Online services such as www.sendoutcards.com now make it very easy to create and send a thank you card.
So you’ve built a great database and set up a system to drive sales and referrals from it – but how do you measure success?
Keep an eye on:
• Traffic to your referral offer/page
• Repeat purchases
• Number of referral appointments
• Number of referral closed deals, and
• Overall comparative cost of acquisition.
You’ll know you’ve got a valuable asset on your hands once you look at the numbers!
Thursday, October 7, 2010
Are you talking to yourself?
We’re all talking to ourselves every moment of our lives, except during certain portions of our sleeping cycle. We’re seldom even aware that we’re doing it. We all have a running commentary in our heads on events and our reactions to them. Here are some tips to remember:
- Be aware of the silent conversations you have with yourself. Are you a nurturing coach or a critic? Do you reinforce your own success or negate it? Are you comfortable saying to yourself, “That’s more like it.” “Now we’re in the groove.” “Things are working out well.” “I’ll do it better next time.”
- When you fail, view it as a temporary inconvenience, a learning experience, an isolated event, and a steppingstone instead of a stumbling block.
- When you have even a small success, reinforce that success by rewarding yourself and feeling pride, rather than feeling lucky or guilty for the attention.
- When you receive a compliment for any reason, simply respond, “Thank you.” And accept value graciously whenever it is offered.
- Always greet the people you meet with a smile. When introducing yourself in any new association, take the initiative to volunteer your own name first, clearly; and always extend your hand first, looking the person in the eyes when you speak.
- In your telephone communications at work or at home, answer the telephone pleasantly, immediately giving your own name to the caller, before you ask for the party you want and before you state your business. Leading with your own name underscores that a person of value is making the call.
- Don’t brag. People who trumpet their exploits and shout for service are actually calling for help. The showoffs, braggarts and blowhards are desperate for attention.
- Don’t tell your problems to people, unless they’re directly involved with the solutions. And don’t make excuses. Always talk affirmatively about the progress you are trying to make.
Apply these tips and keep the running commentary in your head on a positive note!
By D.Waitley
- Be aware of the silent conversations you have with yourself. Are you a nurturing coach or a critic? Do you reinforce your own success or negate it? Are you comfortable saying to yourself, “That’s more like it.” “Now we’re in the groove.” “Things are working out well.” “I’ll do it better next time.”
- When you fail, view it as a temporary inconvenience, a learning experience, an isolated event, and a steppingstone instead of a stumbling block.
- When you have even a small success, reinforce that success by rewarding yourself and feeling pride, rather than feeling lucky or guilty for the attention.
- When you receive a compliment for any reason, simply respond, “Thank you.” And accept value graciously whenever it is offered.
- Always greet the people you meet with a smile. When introducing yourself in any new association, take the initiative to volunteer your own name first, clearly; and always extend your hand first, looking the person in the eyes when you speak.
- In your telephone communications at work or at home, answer the telephone pleasantly, immediately giving your own name to the caller, before you ask for the party you want and before you state your business. Leading with your own name underscores that a person of value is making the call.
- Don’t brag. People who trumpet their exploits and shout for service are actually calling for help. The showoffs, braggarts and blowhards are desperate for attention.
- Don’t tell your problems to people, unless they’re directly involved with the solutions. And don’t make excuses. Always talk affirmatively about the progress you are trying to make.
Apply these tips and keep the running commentary in your head on a positive note!
By D.Waitley
Are you the employer of choice ?
Being an employer of choice means becoming the place people want to work, the organisation they want to devote their time and energy – and the place they will commit to for prolonged periods.
So how can you become an employer of choice?
The notion of employer of choice, and the elements that define what an employer of choice is, will increasingly feature in the considerations and decisions of employees as their needs evolve.
Employees are indicating a desire to link their future to longer term careers with employers. They are looking for the right fit – one that provides interest, challenge, growth, fulfilment and a match with their values. Employers who fail to exhibit employer of choice characteristics face an extremely uncertain future as prospective employees assess their options and align their futures with employers who provide the best match.
The top five characteristics are as follows:
Recognises and rewards staff well-not just Money.
Invests in the learning and development of its people
Operates ethically and fairly at all times
Has family/life friendly workplace practices
Management is passionate and engaging to work with
So for those ready to take on the challenge of becoming an employer of choice, consider the following tips:
Capitalise on the impending talent war by providing more of what people need and expect from their employer. By working to project and deliver the characteristics of an employer of choice, your ability to keep the best people and poach others like them from elsewhere, increases dramatically.
Recognise and reward employees for working collaboratively through tough times. Reassure them of their future, be prepared to 'loosen up the reins' a little with regard to pay and conditions post-GFC, shine a light on their successes and publicly thank them. Fulfil their expectation of appreciation and recognition – that is, let them know that having 'toughed it out' with this organisation, the leaders and managers have noticed and do appreciate the employees' efforts.
Provide career and training and development pathways to fulfil the expectations of employees. A key element of being an employer of choice is the creation of opportunities that help employees to develop, grow, advance and succeed. The creation and implementation of individual career pathways and training and development plans for each person in the organisation provides greater certainty and reassurance about the future.
Develop a better and deeper understanding of the needs and expectations of your key people. Talk to your top three most important people now, then talk to another three tomorrow. Spend time with your key people to understand their career aspirations, professional development ambitions and personal goals. Continue these discussions until you really understand their individual needs and motivations. Then set about creating the workplace that fulfils their needs. Provide direction, challenge and support to engage them.
Develop flexible, family friendly policies and practices that deliver work-life balance. When you understand the needs and motivations of employees, creating or adapting flexible workplace practices that deliver work-life balance is much easier to do. The key expectations of employees and the ways in which the organisation can adapt to support them (rather than the other way around) will be evident. All leaders and managers have to do is to listen, to take on the challenge, and to implement.
Expand and evolve mentoring and coaching activities as a means to developing and nurturing individuals. Make the most of this powerful opportunity to develop others and, in doing so, improve the performance and productivity of the organisation. Orient your thinking about mentoring and coaching to enable you to see it as one of the most compelling ways to develop individuals.
Plan for and manage the expected loss of experience and intellectual property flowing from an aging workforce. Recognise that there is much to be lost when older and more experienced people leave. Consider and implement policies that extend and embed that knowledge and limit the loss by adopting comprehensive mentoring, coaching and knowledge management processes.
Become more passionate. Employees of the future are looking for longer careers, working with leaders and in organisations with which they can engage. Show your interest in them and your excitement about the organisation's direction and goals. Share with them your confidence about the future. When you and they become excited about the path you are taking together, enthusiasm, teamwork and passion flourish.
Leaders and managers that respond to these challenges quickly, effectively and comprehensively will find their own people engaging and committing to the organisation more strongly and consistently. They will also be in a position to attract the best talent from elsewhere.
The benefits you reap from keeping the best people and attracting even more of them from other organisations will flow freely. Put simply, leaders and managers need to reinvent and redefine their organisations to become employers of choice.
So how can you become an employer of choice?
The notion of employer of choice, and the elements that define what an employer of choice is, will increasingly feature in the considerations and decisions of employees as their needs evolve.
Employees are indicating a desire to link their future to longer term careers with employers. They are looking for the right fit – one that provides interest, challenge, growth, fulfilment and a match with their values. Employers who fail to exhibit employer of choice characteristics face an extremely uncertain future as prospective employees assess their options and align their futures with employers who provide the best match.
The top five characteristics are as follows:
Recognises and rewards staff well-not just Money.
Invests in the learning and development of its people
Operates ethically and fairly at all times
Has family/life friendly workplace practices
Management is passionate and engaging to work with
So for those ready to take on the challenge of becoming an employer of choice, consider the following tips:
Capitalise on the impending talent war by providing more of what people need and expect from their employer. By working to project and deliver the characteristics of an employer of choice, your ability to keep the best people and poach others like them from elsewhere, increases dramatically.
Recognise and reward employees for working collaboratively through tough times. Reassure them of their future, be prepared to 'loosen up the reins' a little with regard to pay and conditions post-GFC, shine a light on their successes and publicly thank them. Fulfil their expectation of appreciation and recognition – that is, let them know that having 'toughed it out' with this organisation, the leaders and managers have noticed and do appreciate the employees' efforts.
Provide career and training and development pathways to fulfil the expectations of employees. A key element of being an employer of choice is the creation of opportunities that help employees to develop, grow, advance and succeed. The creation and implementation of individual career pathways and training and development plans for each person in the organisation provides greater certainty and reassurance about the future.
Develop a better and deeper understanding of the needs and expectations of your key people. Talk to your top three most important people now, then talk to another three tomorrow. Spend time with your key people to understand their career aspirations, professional development ambitions and personal goals. Continue these discussions until you really understand their individual needs and motivations. Then set about creating the workplace that fulfils their needs. Provide direction, challenge and support to engage them.
Develop flexible, family friendly policies and practices that deliver work-life balance. When you understand the needs and motivations of employees, creating or adapting flexible workplace practices that deliver work-life balance is much easier to do. The key expectations of employees and the ways in which the organisation can adapt to support them (rather than the other way around) will be evident. All leaders and managers have to do is to listen, to take on the challenge, and to implement.
Expand and evolve mentoring and coaching activities as a means to developing and nurturing individuals. Make the most of this powerful opportunity to develop others and, in doing so, improve the performance and productivity of the organisation. Orient your thinking about mentoring and coaching to enable you to see it as one of the most compelling ways to develop individuals.
Plan for and manage the expected loss of experience and intellectual property flowing from an aging workforce. Recognise that there is much to be lost when older and more experienced people leave. Consider and implement policies that extend and embed that knowledge and limit the loss by adopting comprehensive mentoring, coaching and knowledge management processes.
Become more passionate. Employees of the future are looking for longer careers, working with leaders and in organisations with which they can engage. Show your interest in them and your excitement about the organisation's direction and goals. Share with them your confidence about the future. When you and they become excited about the path you are taking together, enthusiasm, teamwork and passion flourish.
Leaders and managers that respond to these challenges quickly, effectively and comprehensively will find their own people engaging and committing to the organisation more strongly and consistently. They will also be in a position to attract the best talent from elsewhere.
The benefits you reap from keeping the best people and attracting even more of them from other organisations will flow freely. Put simply, leaders and managers need to reinvent and redefine their organisations to become employers of choice.
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