Fact – 88% of sales is repeat business. It's at least 10 times easier to get another sale from an existing customer than a new prospect.
I have heard the talk over the past 5 years or so that online businesses are to blame for a decline in business profits. Change is here and has been for some time and will not stop. Change is now apart of everyday life. Technology, Cloud Technology, online shopping and society as a whole continually change & all business sectors need to adapt to continue to remain relevant.
Below are some brief ideas that anyone can adopt to ensure they remain relevant, competitive and profitable:
- Treat all your customers will the utmost respect. Greet all customers with a smile and show them that you care. 1st impressions last.
- Can't beat them join them. Customers will tend to look up goods & services on the internet. Your business should have a website. You can be open 24 hours a day.
- Websites need updating regularly as well. The more updates you do to your website the more google hits you wil receive. A stale website is a negative experience for a customer.
- Entice customers into your business. You need to devise sales and marketing strategies.
- Problem solve for your customers. If you don't have an immediate product or answer for your client assure them that you will source a result. Create relationships with business partners.
- Up sell. Teach your staff to up-sell. Do you want fries with that?
- Up sell. Package products together. 6 pack of beer & some chips.
- Training, training, training. You need to invest time & attention to all staff. They are a reflection on the business. Continued training, reviews and new challenges are also required.
- Praise. Thank customers for their support. And importantly don't forget to thank your staff as well.
- Listen more & talk less! 2 ears 1 mouth!
- Have devised systems and processes for all aspects of your business.
- Bean counting. Review your gross profit & overheads regularly using cloud accounting to identify issues and fix before they become a bigger problem.
- Always deliver on your promises. Do what you say and remember to follow up requests.
Change occurs each day and that is why it is important to review your business on a continual basis. We all know how busy owners are working in their business & that is where GMG can help. We can become your business coach to assist you working on your business and to ensure you remain relevant.