Transformation sparks financial income for all
Information gathered in the CRM software can tell you which of your accounts are your most profitable. These are the customers you really don’t want to let go of, your key accounts. For this purpose, let’s call them the VIPs. Knowing who brings you most revenue allows you to allocate your time and resources efficiently, as well as increase your chances of cross- or up-selling.
EXAMPLE: Let’s say you have a number of incentives to give away. Use them to reward your VIPs to further increase their loyalty.
Reward your most profitable (VIP) customers
- The great customer loyalty plan:
Customer loyalty is a concept that presumes a customer’s willingness to engage in a business relationship with a brand or company (whether to buy their product or service or take part in any kind of cooperation) again and again. In most cases, it comes as a result of outstanding customer experience and the real value they get from your products or services.
- What are “Customer Loyalty Programs” exactly?
They are reward programs specially designed by brands and companies to incentivize regular customers (those who frequently buy your products or services). A customer loyalty program may involve giving away free products, coupons, discount codes, early access to new products and services, and so on, to the most loyal customers. Have you ever tried using it?
- The great benefits of loyalty:
The Importance and Benefits of Customer Loyalty
Studies have shown that acquiring a new customer costs an average business between 10 to 20 times more than re-selling to a current one. It was found that existing customers spend 66% more than the new ones. It’s clear that customer loyalty pays off..
- Dedicated Loyalty :
If your business can implement a loyalty app, it could be a great way of collecting and centralizing customer data and transactions. That way, you’re not only making it easier for your customers to make orders and pay without waiting or having to sign-up every time, you’re also gathering data on customer behavior and preferences that can be used for your marketing efforts.
If you represent a brand or a company, it’s vital to make sure you have a loyal base of customers. You most likely have a preferred brand or company you always go back to when you’re in need of products or services they offer. Have you ever wondered why that’s the case?
In most cases, it’s not just a plain coincidence, mere convenience, or simply the fact that they offer quality – it’s highly likely a part of the elaborate customer loyalty programs they’ve been meticulously working on.
Distinguished Distributors focuses on combined cutting edge technology with real world practicality, but from a layman’s point of view. Everyone knows that the systems have to be updated, the real challenge is updating them without disrupting the whole organization in a negative way. The solution is to introduce proper workload management done through computers, while providing mobile platforms where possible. And a few little secrets sprinkled in.
We allow the workers to be involved in the job instead of feeling like they are redundant or unimportant.
By the numbers, the effort:
- Reduced lead time by 43%
- Decreased variability by 50%
- Lowered the risk of back-order by 95%
- Increased stock for finished goods by 10%
- Decreased variability by 50%
- Lowered the risk of back-order by 95%
There are many challenges that businesses face during growth periods and it goes without saying, in difficult times such as global pandemics. It’s important how you handle yourself as your business grows and shrinks. You need to be able to manage these changes.
- Cash flow problems:
You have to spend money to make money during a growth period, but this concept can quickly get out of control and leave you in a precarious position. Manage your cash carefully. Turn to your channels that produce consistent sales and work to maximize their contributions to your bottom line. Negotiate favourable payment terms at every turn.
- How do you respond to competition:
Funny things happens when your company is successful-others recognize the opportunity and enter the industry. Many small business owners are unprepared for the realities of fierce competition, and they quickly lose their way in an attempt to respond.
- Nurturing a positive company culture:
Your company culture is affected by everyone. As you grow, it becomes more difficult to exert control over your culture. Additionally, you can get bored or lose patience causing you to lose touch with the flow of things in a way that even customers can feel it. Let your company values guide all of your decisions and hire great people who will embrace their role as champions of the organizational culture. With allies on your side at all levels of the business your culture will be allowed to grow and flourish.
Your business is based on relationships. The wise consultant always listens before speaking. We don’t talk costs before first discussing your specific needs and objectives. We maintain good rapport through our work. Reputation is everything, and it’s as vital for us as it is for you.
- We hold you accountable:
Expect us to hold you accountable for keeping your commitments and responsibilities. Everyone needs someone to hold them accountable. If we see you skipping promises, commitments or tasks, it is our responsibility to have a tactful conversation with you.
- Measurable results:
An effective business consultant should be able to produce measurable, positive results based on your goals for the business. While no one should expect overnight success, it should be clear that you are headed in the right direction. If your consultant doesn’t reflect the list above, it is time to cut ties and look for another consultant better suited to your needs.
The business consultant you hire should know your business inside and out. This is often done through informal discussion and oftentimes various assessments. In many cases, our past experiences are more than enough to get the ball rolling in your favour, and in the right direction:
- Bring back the leadership skills:
Your business consultant should bring out the best in your leadership skills. If you don’t want the responsibility, just let us know and we can focus on someone in the company who is best suited for the job. A talented consultant will not simply tell you what to do but will guide you to make the best decisions using personal strengths combined with his or her expertise, or even to simply groom the right candidate. We can sense when it is time to offer encouragement or lead you to a better result.
- A strategic plan of attack:
Based on your input, assessment, and other observations, we should be able to develop and present a plan of action to help improve your business. Measurable, concrete goals will be included to help monitor improvement.
- Avoid derailments:
We’ll show your return on investment. For example, we’ll look at three numbers: average revenue per transaction, conversion rate, and search engine traffic. We use these metrics to show how much additional revenue we brought in through our efforts.
This will assure you we are actually providing results. We’ll actually bring in more money than we cost.