Many fiscal years just came to a close and whether you finished strong or not, you should be strategizing around how to do even better this year. The business landscape has changed dramatically in the last few years, based primarily on the internet’s role in commerce. Here are three ways to make sure you come out on top this fiscal year.
Place Focus on Retention
Did you know that if you retain just 5% more customers than you did last year, that could lead to a 125% increase in profit? It’s in your best interest to remember this when a customer gets just a little more needy than you’d like. By going the extra mile with just a few customers, you can more than double the profits you are making now. Sometimes that means hiring an answering service telephone to after hours reservations. Or that could mean giving your frontline staff a more welcome script. Whatever it means, you’ve gotta focus on retention.
Invest in Administrative Support
If you business has strict business hours, you can only make money 40 hours per week. However, if your business has a great website and a small business telephone answering service, you can do business around the clock. By investing in live telephone answering services, you give people the chance to ask important questions at the moment they have them as well as the chance to make purchasing decisions right away. You can’t afford to give your customers time to change their mind because if you do, they’ll likely move on to the next business that does have an automated telephone answering service to take their call. An answering service telephone will cost very little considering the extra business it invites.
Meet Your Customer Where They’re At
Do your customers use their phones to buy things? Send them text messages and make your website mobile friendly. Do they like to take advice from their friends on Facebook? Pay to promote your content. You have to figure out where you customers are and get there – quick. They days of them coming to you are over.
Best of luck in the upcoming fiscal year. May you smash all your goals and meet your customer’s needs. More information like this.
