Innovate, Don’t Imitate
24 Mar 2013 Leave a Comment
in increase business ideas Tags: customer service, surveys
One of the most effective ways to keep a competitive edge is to think like a prospective customer and compare your business frequently to your competition. What does your competitor offer that your business does not?
While it’s helpful to stay informed of what your competition is doing, you should avoid copying their ideas. Rather, if you see a good idea that you’d like to implement, find a way to add more value and make it an even better idea. For example, if your competitor offers free shipping on purchases of $100, you could provide free shipping on all purchases and possibly even returns, which removes potential risk when placing an order.
If your competition sells a comparable product, an easy way to add extra value to your business is through service. Whether you have longer business or customer support hours, free shipping, a better warranty, free training, or live phone operators (no automated phone service), it’s often these types of value-ads that really stand out when customers compare businesses.
Another great way to gain customer perspective is with a customer survey or questionnaire. Ask your audience how you can improve, what new offerings they wish you provided, and what they like best about your company. Their answers could easily point to innovative ideas that will give you a competitive advantage.
9 Ways to Increase Customer Retention
07 Mar 2012 Leave a Comment
in Inspirational, Marketing TIPS Tags: communication, mail, surveys, thank you cards, value added
Experts say it costs five times more to attract a new customer than to retain an existing one. Consequently, customer retention is critical to the success of your business. Here are a few tips to help you stay in front of your customers and increase your customer retention rates:
Develop a customer loyalty program that offers special promotions and incentives for return customers, such as birthday discounts, a reward punch card, free shipping, monthly discounts, free upgrades, and the like.
Offer surveys that ask customers what they think of your business and how you can improve.
Encourage open communication with your customers. Request feedback and suggestions. Offer options such as email forms, surveys, a toll-free number, chat forums, and social media links.
Consider creating a focus group with a couple loyal customers to provide their insight from a customer’s perspective. Be sure to reward them for their input.
Utilize customer complaints and suggestions to improve your products or services.
Create a referral program that encourages and rewards loyal customers to do the selling for you.
Differentiate yourself from the competition. Offer value add-ons, educate your customers about industry trends, provide helpful tips, and have a live person answer your phones instead of a confusing automated system.
Socialize with your customers. Attend trade shows, offer open houses, encourage customers to respond to blog posts, and communicate with your customers on social media sites.
Mail personalized thank you cards showing your appreciation for recent purchases or for interest in your products and services.
If you have other ideas for keeping customers satisfied, please feel free to share them in the comments below.