Question: What Does Every Business Need to Succeed?

Answer: Customers!
When I've taught undergrad business courses, at one session, upon arrival the students would see CUSTOMERS in huge letters with the question "What Does Every Business Need to Succeed?" in normal print at the top of the board. The entire class would be a discussion about all the aspects of customer acquisition, satisfaction and retention. On the final exam, there would be the above question and being the annoying person I can be, I'd leave a good two inch space for the answer.

The efficient student would just put "customers" in the space and move to the next question.
The creative student might write the one word answer in large letters to fill the space.
The clueless student would write on and on about business processes - if the word customer was in the essay, I'd circle it and give them full credit - no customers - no credit.

If you were thinking other things like great leadership, lots of capital, super employees, a fabulous idea or product you are not alone. There are so many things that need to be in place for a business to succeed in this world, but without customers, there will not be a business. Getting to know your customers' needs and expectations are key to business survival.

Keeping your customers and having your existing customers bring you more customers is key to business growth and longevity. How you communicate with your customers WILL depend on leadership, capital, employees and of course the perceived value of what you sell. This is where I say "Do you have a plan?" If you don't have a plan. . . get one.

Everyone in your business needs to know where they fit into the customer satisfaction cycle. This will make your job and theirs easier and help each person to be engaged with the customer even if you never actually see or talk to a customer.

Copyright 2010 Linda Fayerweather
Is what you are doing right now helping you achieve your goals? If not. . . stop doing that!
http://www.changinglanes.biz/
419-897-0528


Keeping Your Regular Customers Happy
Entrepreneur Magazine Entire article at: http://www.entrepreneur.com/article/203726
By Suzanne Driscoll October 16, 2009

Some small business owners are so focused on attracting new customers they forget to take care of the ones they already have. And neglected customers will certainly be ripe for the picking by the competition. Bob Green, president of The Verdi Group, an advertising agency in Rochester, N.Y., offers some easy and inexpensive ways to make sure your regulars keep coming back--and get some more along the way:

1. Trade-ins for a good cause. Ask customers to bring in food, clothing or school supplies for the needy, and in return give them a discount off any of your products. People love to support a good cause as well as get a good deal. Cooks' World in Brighton, N.Y., asked customers to bring in old pots and pans to donate to soup kitchens, and in return offered a 20 percent discount for a new item.

2. Loyalty cards. A study by research firm Colloquy, found the average American household belongs to 14 different loyalty programs. Jerry Lewis, owner of Sports Clips barber shops has seen a high percentage of customers use their "get five haircuts and the sixth is free" card and believes his business has increased at least 20 percent because of this.

3. Keep in Touch. Green believes it's very important to consistently keep in touch with your regulars to ensure your business stays on their "radar screen." One of the best ways is to send out an e-newsletter at least once a month. Here you can announce new products, offer money-saving tips, advertise upcoming sales or talk up recent accomplishments.

4. Follow up. The best sales people keep track of the customers who buy from them, and then frequently follow up. Jim Greene, sales manager of Closet Maid, reports his dealers always call the customer after three days to make sure they are satisfied with the work and ask for referrals.

5. Get their opinion. Make the effort to invest customers in your business.. Ask their opinion about the quality of your product or service and how they can be improved. And make sure you actually implement some of the suggestions; don't just conduct a survey for surveys' sake. When customers feel vested, valued and heard, they are bound to keep coming back.

6. Good ol' coupons. A simple coupon in the local paper, a direct mail piece or a discount offered on your website can help keep your current customers coming back as well as entice new ones. A study by the Manufacturer's Coupon Control Center found that 75 percent of customers who believe themselves loyal to a particular brand would consider switching to a competitor if they received a coupon for it.

7. Rewards for referrals. If a current customer recommends your product or service to someone else who ends up buying, give them a reward. At a minimum, send a thank you note.

8. Conduct on-site classes. Whether it's cooking lessons, car repair workshops or gardening tips, offer classes at your place of business. While customers are there they can peruse goods and purchase everything they will need in order to duplicate what they've learned at home.

9. Target local companies. Whatever your business, if you offer a service that busy, full-time workers could use, extend special discounts to the local human resource departments. Employees will appreciate being able to run some of their weekend errands on their lunch hour.

10. Offer a freebie. "Every so often, we give our clients something extra: a free taste--something exciting they would never have thought of by themselves--and something they neither asked for nor paid for," Green says. "It pays off, not only does it make our clients happy, they look forward to working with us. And more often than not, the 'free' idea we present inspires a project that does bring in some revenue for us, if not immediately, often in the future."

Hopefully you already know that the very best way to keep your regulars happy is to offer impeccable customer service. You can read this article in its entirty at: http://www.entrepreneur.com/article/203726







Have a profitable week.



Linda Fayerweather, Editor

Changing Lanes LLC