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Option #1 – Increase the number of customers
You increase the number of customers you have by reaching new customers 1) with your existing offering or 2) developing a new offering. Ideally you will leverage the offering you have to enter a new market or expand the reach in your exisiting market. Three key questions to answer to increase the number of customers are:
For example, our company just completed a national market research study that provided our client with the issues and challenges facing its target market. Using the research, which provided a keen understanding of the needs and wants of its customers, our client developed messaging and marketing materials that resonated not only with existing customers, but with new customers as well. Response rate to their lead-generating events have doubled.
Option #2 – Increase the frequency of purchase
The quickest path to increasing the frequency of purchases is by making it as easy as possible for your existing customers to do business with you repeatedly. Another way to look at this is providing additional customer value – and ultimately building customer loyalty. If you make it easier for customers to buy from you, relative to your competition, then you will continue to win their business. This, of course, assumes your products or services are comparable or superior to your competitors.
Outside of customer loyalty programs, here are a few areas to consider improving:
Option #3 – Increase the number of units sold
By default you will increase the number of units sold when you increase the number of clients and frequency of purchase. But you can also increase the number of units sold by understanding how to add value. If you want to sell more products or bill more hours, providing a value-add benefit or solution will begin to strengthen your customer relationship. If you are to consistently add-value to the customer relationship, you need to fully understand how your customers interpret, define, and quantify the value they receive from your products and services.
Here is a consumer example: A restaurateur offered existing customers 20 percent off for parties of 4 during lunch and early dinner. The idea was to add value to his existing clients by providing them with a benefit they could share. Result: His lunch business went up by 88% in one month and by 53% over the campaign. On the frequency side, he experienced 71% retention of his customers when he dropped the campaign after 3 months.
Finally, don’t forget, to see real results, you must start with what you already know about your customers. It is the market research, customer knowledge you already have, that is literally a hidden goldmine of profit that can grow your business and increase your company's top line. It is this customer-focused information that will provide the foundation for generating more sales, retaining and cross-selling customers, and acquiring new customer business. Armed with customer-focused information, you will know which is the best way to grow your business.
First and foremost, I am a HUGE Steve Carell. He is a comic genius. Second, this is my first blog post on this subject title. So, the format will most likely change over the next couple of months. Lastly, I strongly believe a film has done its job if it can entertain and enlighten at the same time. Now, on to the commentary.
My husband and I saw the film Date Night this weekend. If I didn't say it before, let me now, I AM A HUGE STEVE CARELL FAN!. COMIC GENUIS!
Date Night is about a married couple trying to relight the flame of passion and intimacy in their ritualistic daily lives. Their normal weekly date night is just as boring as the other parts of their lives. They decide to try something different. Everything goes wrong for them and this is were the lessons are learned.
Ten Things I Learned From The Movie DATE NIGHT
Okay, I owe you three more:
And that is what I learned from the movies.
Statistics show that African Americans are experiencing double the employment rate than the dominant culture. We represent 700 billion dollars in consumer buying power. Home based business owners can earn from $63,000 to 1million per year! That should be you!
If you are someone who wants to start a home based business and want to sell your own products then contact the African American Connection. My store is being built as we speak. I believe in this business model so much that I also invested in the company and became a Corporate Training Affiliate and project to earn 15k per month by December.
If you are someone who owns a business and needs a website with a free shopping cart then AAC is the right choice.
The average cost of website design with a shopping cart is $5,000 then the companies take a percentage of your sales. With AAC it's $29.95 a month...no catch, that's it!
Be a part of this revolutionary business model and stop selling other companies make up and the like and go into business for yourself. There are free webinars every Tuesday at 8pm EST but you can log onto my personal corporate portal and view the demo.
There is something for everyone here. There is also a general market store where you can receive up to 40% cash back in the form of a check when shopping with Macy's and Walmart online!
There is also a store just for youth business owners! Teach your children now to go into business for themselves!
Sign up for the next webinar by clicking on the tab in the right hand corner:
A couple of years ago, I went through a very stressful time in my life, and became very careless with my diet and exercise regimen, and ended up gaining about 25-30 lbs. Now as a professional dancer, that
might as well have been 50 or 60 lbs.! During that time, I of course was
not happy with the condition that my body was in, however, it took a
while for me to get to the point where, it was time to wake up and make a
change. Mastering the power of focus is part of what got me out of the
rut that I was in.
This article is Part 2 in the, "Mastering the Power of Focus" Series, and I'd like to share with you how focusing can help you overcome challenges you may face with your health and wellness.
When it comes to your body, we all know that we need to "eat healthy and exercise regularly". But what happens when life takes over? Maybe you're stressed because of financial problems, or trouble in your
relationship or marriage. What if you, your child, or a loved one, is
sick, and the emotional stress is taking its toll on you? You see where
I'm going with this. Eating healthy and exercising regularly isn't
necessarily as easy as it sounds under these types of circumstances. We
must, however, put things in perspective.
I would say that, to master the power of focus, you need to realize/do three things:
1) Understand that the power of focus lies in your hands. You choose what you focus on. You can focus on your circumstances, or focus on God. Focus on the positive or focus on the negative. Therefore, it
can work for you, or against you. Focusing is an action word, a verb, a
decision, and it is crucial in your daily life. If you'd like to lose
weight, you must focus on that vision of your physical self, and your
life, once you are in a healthy place again, and nothing else. This will
allow you to overcome the junk food temptations that you are confronted
with everyday, because your focus is on your goal. The list goes on...
2) Set goals, focus on them, and begin crawling towards them. I use the word "crawl" because it's usually the little steps that we take each day that make the most difference. It's unbelievable to me how
much we can accomplish, or change in our lives by doing, or not doing
something, once or twice a day. Take time to meditate or go for a walk
for just 5 or 10 minutes, in the middle of the day, and see how
differently you feel. Choose to stop working from home at 8 pm every
night, and watch how much more relaxed, happy, and productive you will
be throughout the day. The same goes for going to sleep 30 min. or 1
hour earlier than normal. Figure out what will work for you, and do it
today!
3) Your thoughts become actions, and your focus begins in your own mind. Are you a negative thinker? Do you always see the glass as half-empty? Well, if you focus on the negative, then that's what you'll
always get. Choose to be positive and see the positive in people and
situations. That way, negative people or occurrences (although they will
come) won't sway your new-found mastery of focusing on the positive and
what you want.
And by the way, no one ever said that this would be easy. But, it's crucial to be actively controlling and streamlining what you focus on from day to day. Otherwise, your mind will be controlled by your
circumstances, and by what others say, do, or think, and believe me, you
don't want that! :)
To Read more from my blog, go to, http://danceprosusa.wordpress.com
Stay tuned for Part 3......
What queen from ancient Egypt was the first to have her name on official acts? She was a well respected, strong, intelligent and fierce black woman. ---hint, hint--- She played a major role in her husband and her son's reign. Good luck!
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Greetings Fellow Kingdom Builders,
My name is Pastor April Mason and I want to tell you about this power packed webinar that will most likely change the way you operate in ministry. If you're an Apostle, Prophet, Pastor, Evangelist, Teacher, Artist, Author, Musician, Praise Dancer or anyone that has been given a vision and need the PROVISION.
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With the growing popularity of small business credit cards and ever changing interest rates, now is the time to learn the 6 steps to effective small business credit card management.
We've entered into a new age of credit for small business. New opportunities apply but credit debt still needs to be approached with caution. Over 2/3 of small businesses use a credit card for expenses with only 40% using a business credit card exclusively, as indicated by a Tower Group report. Should you use a small business credit card over a personal card?
Yes. With prudent use and management, your small business credit card can provide many benefits including:
Advantages of Small Business Credit Cards
A small business credit card is like most financial instruments - responsible use of credit can help your business - misuse of your business credit makes you personally liable in most cases and has the potential to destroy your business and dreams. Use these small business credit card tips to effectively manage your credit.
6 Steps to Effective Small Business Credit Card Management
1. Apply at Home: Always consider applying for your small business credit card at your existing financial institution. Your banking relationship can aid with the approval process. When you need a line of credit or loan you will have a relationship established with your lender helping with credit applications over $100,000 not using automated scoring systems.
2. Limit Card Hopping: Signing up for multiple cards to take advantage of deals can have a negative impact on your credit rating and make managing your cards more difficult.
3. Use Grace: The majority of small business credit cards offers a 21-day grace period before you have to make payment on your purchases. Improve your cash flow using a credit card instead of checks since the new Check 21 act creates quicker clearing of checks.
4. Pay Online: Save time and extra costs by paying your small business credit card online versus paying by teller at your local branch or mailing in your payment.
5. No Cash Advance: Reduce credit card fees and interest costs by not using the cash advance feature on your card. Cash advances incur more fees and costs. Use your business account debit when you need immediate funds.
6. Avoid Late Payments: Late fees and high interest rates quickly erode the merits of using your small business credit card. Be responsible by paying off your business credit each month.
Treat your business credit card ownership as a privilege and you will avoid the disastrous effect of credit card mismanagement. Apply the same level of responsibility as the rest of your business and you will enjoy many more years of profitable business growth.
