Posted in Community :
Entrepreneurs: Success Stories
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Activity:
31 views;
last activity : 07 06 2010 20:18:09 +0000
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Deliver quality product at a competitive price
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Build good relationship with your customer
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Send emails and newsletters
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Price Cutting
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Marketing
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Small businesses are small because their resources are small.They wouldn't have adequate resources to employ CRM strategies like thank you card etc. This will involve employing additional manpower and systems.Instead, a welcome smile,good service at the shop,fair pricing and packaging will ensure customer retention.Also, the quality of the product will play a significant role in customer retention.I am a regular to several small businesses and do not get thank you or birth day greetings.But I go there for the above reasons. |
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You don’t need to spend lots and lots of money to build relationship. Many organizations believe in hefty gifts or promoting their products by giving gift coupons. But, how long can they do this activity? It is about taming them by maintaining healthy and sweet relationship with your customer. Do let him know that you care for him and understand his needs. Befriend him but also let him know that you want him to be your business customer for long.
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I think one can send an email to esteem customers who understand your company profile. You can send them newsletters or emails in which you can mention about your latest products or product upgrades if any.
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I feel that price cutting never helps to recession proof business unless it is to get rid of genuine out of date stock. Discounting has too great an effect on the bottom line especially if you have low margins on your products. It takes too many sales to make up the losses caused by discounting.
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In my experience i think many stabilized business will stop marketing when they find they are generating leads, customers and sales. This is a mistake, especially when there is a downturn in the economy. To recession proof business you must keep marketing. If you have too many customers consider putting your prices up rather than ceasing your marketing campaign. Give your existing customers the impression that you are doing well and growing all the time even if you have plateaued. This is a way to come out of any downturn with a better perspective.
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