If you think attracting new customers is tough, try retaining the ones you have. Not only must you have enough brand cache to get them in the door, but you have to offer a quality product and a good enough experience to make them want to come back. Hit on one or two of those, and you might have a customer on your hands. Hit on all three, and you might have a customer for life. With the rampant rise in popularity of online shopping, some brick and mortar locations have found a need to constantly angle for new ways to increase traffic into the store.Given the fact that some estimates peg the cost to attract a new customer at up to seven times the cost of what it takes to retain one, the smartest brick and mortar businesses put a heavy emphasis on deepening customer loyalty. If you’re looking for new ways to jumpstart your own customer retention efforts, you’re in luck. We’ve put together a list of three of our favorite methods below.
There’s a common belief that employees leave jobs because they want more money. In our heads, we often think of these emotionally charged decisions in the way that they’re portrayed in pop culture. We picture scenes that involve the ironfisted boss rebuffing the underdog employee’s request for a modest raise. The reality is far less dramatic. In fact, only about 12% of employees leave their jobs over money, but nearly 80% exit because they don’t feel appreciated. To put it bluntly, people quit bosses, not companies. Respectful, inclusive, and collaborative working environments go a long way to improving your overall retention and employee productivity.
Being a business owner or a manager can be a challenge for a variety of reasons. One of the biggest is putting a plan in place to keep employees accountable. There’s a fine line between being a supportive manager and being a micromanager. Lean too far to one side, and your employees yearn for freedom and start to resent you. Lean too far to the other, and you strip them of the chance to learn and grow. With such a thin margin of error, it’s crucial that you develop a plan to keep employees accountable. Whether they’re located in the office or out in the field. We’ve put together three quick tactics to consider incorporating as part of that plan.
As a society, there are a few things we do more than publicize our likes and dislikes. We love to leave glowing restaurant reviews on Yelp. Singing the praises of our favorite running shoes to friends at the gym. We vent about a car dealership mishap or rude cashiers at the grocery store on social media. And though we all seem to be talking all of the time, it turns out most of us are actually listening too.Statistics show that 83% of Americans say that word-of-mouth recommendations from a friend or family member make them more likely to buy something. That statistic is even more pronounced when you look at younger demos like Millennials. They are 115% more influenced by word-of-mouth than traditional advertising. Word-of-mouth marketing can lead to so many conversions. Many small businesses have looked for ways to capitalize on customers’ fervent fan-hood. The most obvious method is through a referral program. With most small business tactics, there’s hardly a one-size-fits-all approach. In hopes of spurring some ideas that might work for your business, we’ve put together a list of a few of our favorite referral programs.
We all tend to throw the term “heartbroken” around with regularity. We use it to describe the end of a relationship when we lose a loved one, and even when we’re sad about our favorite team losing. However, you don’t often hear someone say they’re heartbroken over their work/life balance.—but it turns a lot of people actually are.
Basically, bosses that serve as a source of stress are literally breaking the hearts of their employees. An international study conducted by Sweden’s Karolinska Institute found a connection between leadership behavior and the prevalence of heart disease. So, as a leader, what can you do to make sure your employees are happy and productive? Here are a few quick ways to ensure your employees enjoy a healthy work/life balance and a positive company culture.
If you're a plumber, an HVAC professional, electrician, repairman, mover, painter, or a general contractor, you all have one thing in common. Being on the move most of the day. These pros go from one job, or service request to another. They also need to ensure they're following protocol and moving through their queues with efficiency and diligence. In the past, the only way to keep track of field-based employees was over the phone. For operations heads, this has long been a limiting and often flawed way to manage their workforce. While field workers will update you and tell you where they are, keeping track of them throughout the day can be a challenge.
Social Media Marketing Part Four: Understanding The Differences Between Paid and Organic Social Media Marketing
The last time a person used the word “organic” was probably in a high school chemistry class. While researching social media for your brand, the term may be one that you've heard before. Rest assured that organic social media has nothing to do with plants, animals, organisms or even science at all. It’s a term that describes one of two main categories of social media, with “paid” posts being the other.In part four of our educational series on how small businesses can best leverage social media, we’ll discuss exactly what organic and paid social media marketing means. We'll explain the differences between the two and how you can use either approach to your advantage. Also, you can determine which method works best for your business.
Think about the last few purchases you made. How many of them were purely impulse buys? Where you hadn’t done any research on the manufacturer/provider, the product/service, or even spoke with someone who had? The fact is that 90% of people believe in brand recommendations from friends. Word-of-mouth marketing has never been more critical than it is today. In addition to the bump it provides in conversion rates, a huge benefit to utilizing word-of-mouth is that there’s no cost. Word-of-mouth isn’t the only cost-effective way to reach potential customers in a targeted way. The rise of social media has also given small businesses the type of publishing platform that used to come with a pretty expensive price tag.
Many businesses have peaks and valleys, but few understand the gravity of these swings like those in a seasonal market. For instance, a landscaping company in a cold climate doesn't have the same type of work lined up in late January than it does in late July. If you’ve been racking your brain for a few ways to increase awareness during your downtime, we've got some ideas to help you. Here are three ways for your business to stand out in a seasonal market.
There are many incorrect assumptions about how software might negatively impact a business. These include misconceptions around the price, lack of obvious business benefits, or worries about how hard it is to use the software. These myths are particularly prevalent among small businesses. That’s a shame because in many ways small businesses stand to benefit the most from these platforms' features. Here are a few of the biggest and most enduring myths about business software.