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.
Life as a small business owner is one filled with peaks and valleys. There’s the rush received from an influx of new orders. The thrill of payments posting to your account. The disappointment when a customer isn’t happy and the despair when times are slow. Most realistic small business owners recognize that these experiences are not only possibilities, but each is likely to happen at some point. Yet, what so many seem to overlook or fail to prepare for are those pesky last-minute cancellations. The best way to tackle these is with an established cancellation policy.A well-written cancellation policy is like insurance for a small business in that it protects you when you’re most vulnerable. Concepting and drafting that cancellation policy template is also a lot easier than most people think. If a customer blowing you off has burned your business in the past, you’ll want to read our tips below on creating a simple but effective cancellation policy.
Cash will always be king, but credit cards are the ace for millions of Americans across the country. In fact, more than 70% of American households have at least one general credit card. Despite the credit card’s place in today’s society, the widespread popularity of “charging it” is actually a relatively new phenomenon. Retailers in the 1970s were hesitant to accept credit cards. Consumers balked at embracing them out of fear of being on the hook for unauthorized charges. But that all changed with the Fair Credit Billing Act (FCBA) of 1974.This amendment to the Truth in Lending Act instilled consumer confidence. It provided protection from unfair billing practices and identity theft. FCBA was also responsible for the creation of what we now call a “chargeback.” As a small business owner, you might have heard the term before, but you might not be sure how to handle them. Read on to learn more about what a chargeback means for your business and how to avoid them.
Contrary to what some may believe, there are still effective methods of advertising your small business that don’t involve the internet. If you just let out a gasp and clutched your chest, we understand why you’d feel that way. Between display, social media, search engine marketing, remarketing, video and email, the tried-and-true approaches of yesteryear seem all but forgotten. But the truth is, tactics like direct mail can still work if done in the right way.Postcard marketing is a perfect example. In one survey conducted in the UK, 57% of respondents said that postcard marketing made them feel more valued and that a postcard created a more authentic relationship. As it turns out there’s something to be said for a tangible ad. One that you can hold and put on the fridge. If using postcards is an approach that you’re considering adding to your marketing mix, you should be aware of both the pros and cons.
When you’re a small home service business it can feel like you have the weight of the company on your shoulders. Not only performing duties that your customers require, but you also have all the backend obligations. Wearing that hat means that you must stay plugged-in to all aspects of company operations. It can be challenging to keep track of all of these moving parts. If there is one area where you simply can’t afford to make a mistake, it’s in the handling of finances. WHERK Home Service Software is helping businesses like yours control, manage, and report on their finances. Here are just a few ways showing how.
Paperwork has long been a mainstay of the business world. Documents, reports, contracts, bills, invoices, protocols. It's a never-ending list, and it all eventually turns into skyscraping stacks of files. Those files cost businesses a surprisingly steep amount of time and money to produce, store and keep track of. Businesses and their executives are becoming increasingly aware of these costs, and many are setting their sights on paperless operations. In fact, according to Device Magic, 80 percent of small-to-midsize businesses (SMBs) want to cut paper processes out of their workflows. Because they have fewer employees and less large bureaucratic structures in place, small businesses are in a unique position to embrace a paperless business model. Here are a few reasons why the paper-based processes are costing your business more than you know.
For small businesses, one of the keys to success is establishing consistent cash flow. Whether you own a three-man plumbing company or a small bakery, you need monthly revenue. Some small businesses can't afford to maintain a dedicated billing and invoicing department. As a result, the work of drawing up and sending out invoices falls to the owner, who already has a ton of other priorities to juggle. In other cases, small businesses may dedicate a specific time of the week to creating and sending invoices. The billing process can get slowed down, and maybe even delayed or overlooked altogether. Not getting those invoices out in a timely fashion can choke up cash flow and can cause stress. The latest small business software can bring major relief.
Business software can help you manage your workforce, budget, work orders, and billing and invoicing. But while a great deal of attention is being paid to how these platforms can enhance productivity and support optimization, they also create the foundation for powerful connections between businesses and their customers. Software focused on customers, is commonly referred to as a customer relationship manager (CRM). The most comprehensive CRMs can impact the way businesses access and interpret customer data, and launching marketing campaigns for securing retention. These programs transform phone calls, and even website visits into actionable data that feed conversions, retention, and growth. Here we share some of the ways in which this software can help your small business. Improving customer relationships and retention rates.