Customer Relationships and Business Growth

Customer Relationships Are Key to Your Marketing Strategy

If I could show you how to increase your sales by 50% without increasing your marketing budget, would you be interested?

There are many reasons a customer or client may leave you, but the ones you will hear most often are:

• They felt your pricing was too high or unfair.
• They had an unresolved complaint.
• They took a competitor's offer.
• They left because they felt you didn't care.

When faced with the above facts, why is it businesses spend 80% of their marketing dollars going after new customers?

Before you spend your time and money going after new customers and clients you do not currently have a relationship with, consider the following statistics:

• Repeat customers spend 33% more than new customers.
• Referrals among repeat customers are 107% greater than non-customer referrals.
• It costs six times more to sell something to a prospect than to sell that same thing to a customer.

The bottom line is that one of the key components in marketing and business growth is to spend the majority of your time and effort nurturing customer relationships so that you get business from existing clients and customers. This is a strategy that will move you forward in increasing your sales by 50% without increasing your budget.

4 Secrets of Success

Of all the goals people set in life, two stand out: success in our personal and professional lives. It turns out, these two are interdependent. And together, they reinforce life’s most important pursuit — happiness.

• Rhonda Byrne would tell you it’s The Law of Attraction: the secret to the power of positive thoughts.
• Ken Robinson and Lou Aronica, in The Element, say you must find your own “element,” your passion.
• Scott Adams believes in learning how to endure failure. “There is plenty of luck to go around; you just need to keep your hand raised until it’s your turn.” You can make it easier for luck to find you.

That’s where the fourth secret comes in: get your priorities right; use your resources wisely; stay focused; develop the right relations; don’t be greedy; and don’t be complacent.

Seven Ways To Increase Employee Satisfaction Without Giving a Raise

• Consistent Values. In some organizations, employees observe that core values appear to be abandoned when the economy is poor. Employees began to more fully appreciate those values as well when they saw what was happening in other companies during difficult times.
• Long Term Focus. Maintain focus on long-term objectives, but create new opportunities as well.
• Local Leadership. Every manager and supervisor received a clear assessment of the satisfaction of their employees and was challenged to find opportunities to improve.
• Continuous Communication. Communicate even more. Increase efforts to communicate and share important information.
• Collaboration. Groups made significant improvements in their ability to share resources and work together. This reduced costs and increased efficiency.
• Opportunities for Development. Take advantage of slower times by challenging employees with “stretch” job assignments. Also, increase formal training.