November 1, 2014

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Most Effective Customer Management Techniques

Customers are the heart of any business. Without them, there will be no need to being in business because, after all, who will you be serving or supplying to? Therefore it is very important to maintain a very good and healthy relationship with all your customers. If you want to attract new customers, you have to ensure that you have maintained the old ones. These are the core foundation of your selling business. If you can handle and manage your customers well, then it is very easy to attract new ones. There are a few things that you should always have in mind when dealing with your customers. These are:

  1. Always Be a Good Listener

This is one of the most crucial techniques in customer management. A customer will come to you in need of a product or service and they might not be in a position to tell you exactly what they want, but they know what they want the item to do for them. It is up to you as the service or product provider to listen keenly to your customer’s description. From there, do a mental analysis of what you have heard and understood, this way you will be able to give the customer exactly what they expect. In other cases, a customer might be unsatisfied by a product you supplied. Then you must take it upon yourself to apologize for the inconvenience and offer a second option if available. This will make the customers feel understood and they will always be willing to do business with you again.

  1. Strive To Make a Long Lasting Partnership With Your Customers.

The relationship between you and your customers should not end the minute they hit your business doorframe. You should at least check up on them; this can be through emails or newsletters showing new products you have in stock. Try to make your emails sound like they come from someone who cares. Doing this will make the customers feel that you care enough to ask about their wellbeing, as well as informing them of new products available. This is evidenced in Entrepreneur Magazine.

  1. Let Things Flow at Their Own Pace – Don’t Rush.

Rushing into things with your customers might make them feel pressured and also make them have a bad opinion about your intensions. You should therefore avoid any instance where you might rush things. Remember, by offering quality service and always creating time to listen to your customers, you will make them develop trust and confidence in you—as a good starting point you can study how reputed companies like Shopify work and learn from them. Treat your loyal customers with preference. There are daily customers who have stood by you and have always been there with you since the beginning. For these types of customers, it’s a good idea to give them discounts. This will increase their loyalty and with them you are always assured of a sale. Bain and Co., a worldwide business consultancy, states that retaining 5% of your customers will increase profits by 25 to 100%. On average, returning customers spend 67% more than customers that are new to your establishment.

  1. Look at Things From The Customer’s Point of View

Arguing with your customers will not solve things; instead, you should try to look at things from their point of view and understand their point. In case they say something is wrong, try to understand them and offer a solution. Being the provider, the customers expect you to have solutions to all products related to what you offer. For such cases, you need to be well informed to avoid a case where you will lack an answer for your customer’s questions. “Poor communication can drive a startup towards failure, rather than the path to success” according to Entrepreneur Magazine.

  1. Know your customer needs.

Knowing the needs of your customers is very important, as you will always be in a position to provide a solution.  This in turn makes them to develop a strong confidence in you. It’s in such cases that you find a customer is asking for your opinion on different models of products. This is because they have faith in you and know that you will not misguide them. So don’t be surprised if your trusted customers call and ask about your opinion on a product that you do not sell at your business, it means that they have faith in you.

In conclusion, if you can faithfully apply these techniques in your daily business dealings with your customers, then you will have created a very strong selling foundation for your business. A satisfied customer is a happy customer and the chances of them telling their friends about your business are very high. Therefore, the only way that you can build a business empire is by treating your customers well and always making their satisfaction your main objective.

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September 29, 2014

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Investing In Your Future with These Simple Tricks

Reinvesting dividends, managing monthly contributions, and rebalancing tasks make the process of determining your performance complicated. Investing your knowledge in things like an Aeroplan card can help you reward travel plans for future traveling. Alongside this, there are even apps and software out there that can help make your life easier. Software Personal Capital Personal […]

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September 25, 2014

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Five Benefits of Using the iPad for Your Business

The iPad can offer a ton of options for gaming and other entertaining activities, but this Apple tablet also has a lot of potential when used for your business. Here are some interesting ways in which your iPad becomes effective as a business tool: The iPad is Beneficial for Collecting Data and Taking Inventory The […]

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September 17, 2014

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Successful Investing Requires Massive Amounts of Discipline

Investment Discipline equals success

A lot of people are mesmerized by successful investment track records. These track records are typically displayed in a lot of investment advertisements around the web. It’s a way that marketers can grab your attention while making you feel that anyone can achieve those investment results, but I can tell you right now that is […]

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September 15, 2014

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Contrarian Investing

Contrarian Investments

If you simply do what everyone else is doing, is it not rational to come to the conclusion that your end result will be the same as everyone else? 1. For the twenty years ending December 2013, the S&P 500 Index averaged 9.22% a year. An excellent historical return, meanwhile the average equity fund investor […]

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