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Added for You - Which is Better: Repeat Business or Adding New Customers?
In my work with hundreds of coaches, consultants, and small business owners, I have found that there are specific actions that have created their success. Here are seven success elements that they use effectively to earn $100,000 plus a year. By focusing on these important elements, you too can grow your business to reach this goal. Six-Figure Professionals Focus and Target their Efforts Professionals who narrow their market earn more and have less stress. They operate in a market that can afford their service and one that has future potential to keep it up. They know how to say "no" to anything that detracts from their plans and their goals. They go after their goals
Follow these five steps and you will be on the road to quantum growth. Remember -
that as you're driving new customers to your door you must make sure to build
loyalty at the same time. In another article we'll talk about ways to do just that. Cargo Shipping Containers
The imported milk you are enjoying today and the leather boots you will be wearing tomorrow have at one point been inside one of those cargo shipping containers. All products that are transported from one place to another, from coast to coast, across several seas and wide desert lands have been carried by a truckload of cargo shipping containers.The eve of using cargo shipping containers started several decades ago when the need to carry basic commodities in huge amount, from factories to different locations, was indispensable. It makes shipment faster, safer and more cost efficient. The container shipping industry has become one of the most thriving business endeavors in the worl
Since I'm bringing this up at all, you've got to ask yourself, "Is this old saw true?"
For incremental growth up to around 20 percent per year, the answer is yes. It's true.
Spend your energy selling more to your top customers and you'll do just fine. And 20 percent year after year is definitely nothing to sneeze at.
But what about faster growth? Massive growth, mega growth, breakthrough growth? What if you've just got to take over your market, fast?
To get revenue increases of 50 percent, 100 percent, or more, that expert wisdom is just plain wrong. To get quantum growth in your business you're going to need more people buying your products and services - and lots of them.
Product development mastermind Doug Hall conducted research using the Scan Database, which contains over 9400 products with Universal Product Codes. Hall's statistical model shows that new customers are 2.8 times more important to rapid revenue growth than repeat purchasers.
It's not hard to understand when you consider this question: How much money can each customer or customer spend with your company? Can they double their spending? Maybe. If that's true, you might squeeze that 100 percent growth from your loyal base.
But is that reasonable to expect? Perhaps for one year. But repeatedly? That's just not likely, and companies that focus all their attention on retention are eventually going to see revenue growth stall or decline.
But can you double your customer base?
Yes, you can. And you can do it repeatedly. It doesn't matter whether you call them customers or clients, the equation is the same: it's easier to geometrically grow the customer base than the money each customer spends.
Of course, the strongest companies do both. They increase the spending of each loyal customer, and aggressively court new ones. But because they think it's more cost-efficient, too many entrepreneurs focus on developing repeat business and limit their new customer activity. Don't get caught in that trap; while you're creating loyalty, your competitors will expand around you and with their riches, drive you right out of the market.
Developing new customers is not easy, but here are few steps to get you on the road and keep you there.
- Continually focus on getting new customers. Develop automatic referral processes like Quantum's Envelope Referral System. Schedule low cost or free informational seminars. Build strategic partnerships. Create affiliate marketing programs. Use direct marketing techniques: mail, email, telephone, and so on.
- Remember that your goal is total customer growth. This means that while you're adding new customers, be sure not to lose the ones you already have. And that means those customers are not dormant - a customer who's not spending isn't much of a customer at all. Any solid customer growth plan also includes a re-sell, up-sell and cross-sell program in addition to the customer acquisition plan.
- Redefine your Unique Client Value position to include the "next niche over." When you've exhausted the customers in your specific niche (defined by your Core Marketing Message and your Unique Client Value) it may be time to move into another market space. The easiest niche to segue into is one that shares characteristics with your current market. That's why we call this the "next niche over." Sometimes all it takes is a small tweak to your product offer or the way you package it. Sometimes, you only have to alter the marketing message and collateral.
- Dramatize the Differences. At some point you must take customers from your competitors; that means you can't have a me-too offering. You've got to be better, you've got to be different, you've got offer something they don't have. Unless your competitors really stink their customers won't become your without a compelling reason. And just because your mousetrap is better they won't come running, you have to let them know, communicating your commanding value clearly and often.
- Create segmented offerings to make the differences more pronounced. Just as you use "silver, gold, platinum" pricing to segment your own customer base, do the same to distinguish yourself from your competitors. If you need a low-end offer, remove the frills, strip down the packaging, if possible make the product "virtual," digital, or downloadable. On the high-end, make your product super-premium. Bump up the quality of your materials. Add personalization. Add intimacy and service elements that competition will be afraid to offer.
Follow these five steps and you will be on the road to quantum growth. Remember -
that as you're driving new customers to your door you must make sure to build
loyalty at the same time. In another article we'll talk about ways to do just that. TPM and Lean Production, is It Worth the Effort?
The young production manager speaks enthusiastically to the top management team. He has just returned to the plant after attending an inspiring seminar and now he is convinced that they need to do something."We should implement Lean Production and TPM in our plant", he says. "This will make our production more reliable and increase our delivery accuracy".The MD is paying attention but is not yet convinced. He wants to put the ideas to a test."Looks interesting", he says, "Please come back with a good calculation of the Return on Investment so that we can see if it fits into next year's budget."This is where the story might end. How could you possible estimate more people buying your products and services - and lots of them.
Product development mastermind Doug Hall conducted research using the Scan Database, which contains over 9400 products with Universal Product Codes. Hall's statistical model shows that new customers are 2.8 times more important to rapid revenue growth than repeat purchasers.
It's not hard to understand when you consider this question: How much money can each customer or customer spend with your company? Can they double their spending? Maybe. If that's true, you might squeeze that 100 percent growth from your loyal base.
But is that reasonable to expect? Perhaps for one year. But repeatedly? That's just not likely, and companies that focus all their attention on retention are eventually going to see revenue growth stall or decline.
But can you double your customer base?
Yes, you can. And you can do it repeatedly. It doesn't matter whether you call them customers or clients, the equation is the same: it's easier to geometrically grow the customer base than the money each customer spends.
Of course, the strongest companies do both. They increase the spending of each loyal customer, and aggressively court new ones. But because they think it's more cost-efficient, too many entrepreneurs focus on developing repeat business and limit their new customer activity. Don't get caught in that trap; while you're creating loyalty, your competitors will expand around you and with their riches, drive you right out of the market.
Developing new customers is not easy, but here are few steps to get you on the road and keep you there.
- Continually focus on getting new customers. Develop automatic referral processes like Quantum's Envelope Referral System. Schedule low cost or free informational seminars. Build strategic partnerships. Create affiliate marketing programs. Use direct marketing techniques: mail, email, telephone, and so on.
- Remember that your goal is total customer growth. This means that while you're adding new customers, be sure not to lose the ones you already have. And that means those customers are not dormant - a customer who's not spending isn't much of a customer at all. Any solid customer growth plan also includes a re-sell, up-sell and cross-sell program in addition to the customer acquisition plan.
- Redefine your Unique Client Value position to include the "next niche over." When you've exhausted the customers in your specific niche (defined by your Core Marketing Message and your Unique Client Value) it may be time to move into another market space. The easiest niche to segue into is one that shares characteristics with your current market. That's why we call this the "next niche over." Sometimes all it takes is a small tweak to your product offer or the way you package it. Sometimes, you only have to alter the marketing message and collateral.
- Dramatize the Differences. At some point you must take customers from your competitors; that means you can't have a me-too offering. You've got to be better, you've got to be different, you've got offer something they don't have. Unless your competitors really stink their customers won't become your without a compelling reason. And just because your mousetrap is better they won't come running, you have to let them know, communicating your commanding value clearly and often.
- Create segmented offerings to make the differences more pronounced. Just as you use "silver, gold, platinum" pricing to segment your own customer base, do the same to distinguish yourself from your competitors. If you need a low-end offer, remove the frills, strip down the packaging, if possible make the product "virtual," digital, or downloadable. On the high-end, make your product super-premium. Bump up the quality of your materials. Add personalization. Add intimacy and service elements that competition will be afraid to offer.
Follow these five steps and you will be on the road to quantum growth. Remember -
that as you're driving new customers to your door you must make sure to build
loyalty at the same time. In another article we'll talk about ways to do just that. Albany Employment Services
Employment services in Albany are moving forward and parallel to the business growth and industrial modernization. Employment agents are playing the key role for this business and services. The agencies provide support and services to the employers or hiring companies by providing big human resources. Organizations are difficult to run without huge human resources. Employment services and agencies are in high demand to fulfill the human resources providing. This is a challenging business for the recruiter but still it is a smooth process made possible by the professional and skilled recruiter.Albany is not far away from the increasingly challenging trends of hi-tech technologies ce than the money each customer spends.
Of course, the strongest companies do both. They increase the spending of each loyal customer, and aggressively court new ones. But because they think it's more cost-efficient, too many entrepreneurs focus on developing repeat business and limit their new customer activity. Don't get caught in that trap; while you're creating loyalty, your competitors will expand around you and with their riches, drive you right out of the market.
Developing new customers is not easy, but here are few steps to get you on the road and keep you there.
- Continually focus on getting new customers. Develop automatic referral processes like Quantum's Envelope Referral System. Schedule low cost or free informational seminars. Build strategic partnerships. Create affiliate marketing programs. Use direct marketing techniques: mail, email, telephone, and so on.
- Remember that your goal is total customer growth. This means that while you're adding new customers, be sure not to lose the ones you already have. And that means those customers are not dormant - a customer who's not spending isn't much of a customer at all. Any solid customer growth plan also includes a re-sell, up-sell and cross-sell program in addition to the customer acquisition plan.
- Redefine your Unique Client Value position to include the "next niche over." When you've exhausted the customers in your specific niche (defined by your Core Marketing Message and your Unique Client Value) it may be time to move into another market space. The easiest niche to segue into is one that shares characteristics with your current market. That's why we call this the "next niche over." Sometimes all it takes is a small tweak to your product offer or the way you package it. Sometimes, you only have to alter the marketing message and collateral.
- Dramatize the Differences. At some point you must take customers from your competitors; that means you can't have a me-too offering. You've got to be better, you've got to be different, you've got offer something they don't have. Unless your competitors really stink their customers won't become your without a compelling reason. And just because your mousetrap is better they won't come running, you have to let them know, communicating your commanding value clearly and often.
- Create segmented offerings to make the differences more pronounced. Just as you use "silver, gold, platinum" pricing to segment your own customer base, do the same to distinguish yourself from your competitors. If you need a low-end offer, remove the frills, strip down the packaging, if possible make the product "virtual," digital, or downloadable. On the high-end, make your product super-premium. Bump up the quality of your materials. Add personalization. Add intimacy and service elements that competition will be afraid to offer.
Follow these five steps and you will be on the road to quantum growth. Remember -
that as you're driving new customers to your door you must make sure to build
loyalty at the same time. In another article we'll talk about ways to do just that. Be Successful In Your Job Search – Avoid These Top 10 Mistakes!
No one enjoys making a mistake in his or her job hunt at the cost of the job which he or she has applied for. Yet mistakes do happen either because of misconceptions, faulty guidance or advice, or by failing to develop an effective strategy. Furthermore, these mistakes are not just limited to either resume writing or poor interviewing, but a lack of holistic thinking.The following list is not made in the order of the severity of the mistake, as you never know what mistake may be severe enough to cause you to lose an opportunity. The list is compiled by the different spheres where you can possibly make mistakes. And also there are going to be more than just 10 mistakes in the listsdy have. And that
means those customers are not dormant - a customer who's not spending isn't
much of a customer at all. Any solid customer growth plan also includes a re-sell,
up-sell and cross-sell program in addition to the customer acquisition plan.
Follow these five steps and you will be on the road to quantum growth. Remember -
that as you're driving new customers to your door you must make sure to build
loyalty at the same time. In another article we'll talk about ways to do just that. Bar Code Printers
Barcode Printers come in various types, including general-purpose laser and inkjet printers. Then there are printers that support multiple symbologies. They are called Thermal bar code label printers. General-purpose laser and inkjet printers cannot directly print barcodes. That is because these basic printers do not support bar code symbologies and are therefore upgraded to do so. They need to be programmed to support bar coding, which may entail addition of more features and fonts.Barcode printers employ two major printing methods, namely Direct Thermal and Thermal Transfer. Both methods basically involve the same technique to print bar codes with difference in the use of ribbone. Unless your
competitors really stink their customers won't become your without a compelling
reason. And just because your mousetrap is better they won't come running, you
have to let them know, communicating your commanding value clearly and often.
Follow these five steps and you will be on the road to quantum growth. Remember - that as you're driving new customers to your door you must make sure to build loyalty at the same time. In another article we'll talk about ways to do just that.
(c) Copyright Paul Lemberg. All rights reserved
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