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In the clients mind you are their go to for the thing that you sell or service you provide. You have done an exceptional job at retaining your customers. Now you want to think about how you can get your loyal customers to increase the frequency of purchases they make per year.
The total cost of inventory sold during a given period of time. The expenses that are directly related to getting that product sold.
So from the title of this article, you might be wondering what you are missing? Your accounting software spits out a pretty report telling you what your costs of goods sold is, right? So, is this number telling you everything you need to know?
It is a word of mouth marketing tactic that incentives customers to refer your services to a friend. The purpose is to attract new leads to a business. Often leads that come through referrals are primed and ready to go because a friend has referred them.
It's quite simple really, the average value of a single purchase by customers over a given time period. Most ecommerce or accounting software will help you to easily find this number.
Cash is the most important resource you have to manage in your business. A business can go years without a profit but not a day without cash. You need to make sure that your business has a reliable internal stream of cash and is not consistently relying on debt or funding to operate. Just like a rocket burns fuel to take off, a business needs cash to grow.
Lead generation is the process of attracting people who are interested in your business. It is a proactive action on your part to bring someone into your sales funnel. Providing value is the best way to bring people in. The old school sales pitch isn't going to work anymore. People don't want to be sold to. You need to provide value for your audience in a way that will delight them and ensure they want to engage with your business.
Do you want to master your social media marketing? Sometimes it can be hard to know if you are doing the right thing or you may wonder what you can do to increase the...
So you've worked hard to attract potential customers to your business with great marketing but how do you close the sale? We see a lot of businesses get great traffic to their stores and websites but they don’t make many sales. What is stopping potential customers from taking action and what can be done to fix it?
Retaining customers is imperative to the success of your business. Some customers will be easy to retain, while others will need some work. If you don’t have any structured measures in place, you are likely to lose those customers who are willing to shop around. So, how do you keep your customers happy and have them coming back for more?
Let's take a look at 24 ways to increase your retention rate.