Are you having trouble retaining customers who spend? Then it is time for you to look at your Customer Retention Strategies. There are a multitude of reasons to look at. The article “Maximise Customer’s Lifetime Value for Profit” goes through a number of these. It then links to additional articles in the areas you choose. By properly grooming your customers your business will see a tremendous multiplier effect on its Profit. Some are increase the average spend; increase frequency; increase customer’s lifetime. See a case study that shows the impact. Use the 5 Whys Meets Sales Funnel to find problems and then solutions for your customer retention strategies. Have you been in business for a while? You may have areas/products that are no longer profitable. Go to the article Innovate1000 and learn about “Dogs”; “Question Marks”; “Cash Cows”; “Stars”.
Staff Management Covers an Enormous Area
Staff management is crucial to the sustainable operation of your business. Labour is often one of the largest costs in a business. Its is also often a relatively fixed cost so can have a big impact of profit during a downturn. Managing staff successfully is...
Not Sure How to Price Your Products or Services?
Base your pricing strategies on the knowledge of your business. Investigate the study below on how 1,200 major business increased their Profits with a small 1% price rise.
Is Your Profit Stagnant or Falling?
Research at 1,000 European companies showed a 1% price increase...
Poor and unsatisfactory Sales Revenue is a common problem for businesses. A weakness in Sales Revenue will normally contribute to unsatisfactory Profit levels. Since all Profit starts with a Sale, fixing poor Sales is a good place to start any remedial work on your business. Yellow Belt
Your enterprise may be growing at present. But, you can be certain that innovation and disruption will erode what have been successful services or products. We see this at work all the time.
Years ago, videos came on a cassette tape. Then DVD's and now streaming services. Your enterprise will decline without...
Powerful Customer Value Multiplier Kicks Profit
Many businesses fail to understand the tremendous multiplier effect on their profit that properly grooming their clients can offer. One of the most powerful multipliers on your profit can be the Lifetime Value (LTV) of a customer. Yellow Belt
The sales funnel concept refers to the process of tipping sales "leads" into the top of a "funnel". They then progressively move through the sales process ideally converting them to a sale at the bottom of the funnel.
The 5 Why technique is a method of working our why something is not...