Tips to Reduce Cost in your Business

Last week we looked at ways to reduce costs
In our business. Here’s Part 2 on how to make more sales anchors, as promised.

Entrepreneurs are a special type of business people who strive for traditional purposes and achieve them through non-traditional means. Often, there is not a lot of money to invest in traditional marketing methods to get customers. However, there are ways you can bring in “sales” to make your business a consumer magnet.

The first thing you need to know when getting started is the characteristics of your candidates and customers. Just as a cart needs four wheels to move forward, your business also needs four wheels. They are a marketing plan (whether you have the budget or not), a marketing calendar (so you can implement the plan when you acquire capital), competitive advantage (very important), and consumer research.

The age of the “lone wolf business owner” is over. You have a business world today, and you want to help them to help you. Getting their aid is very important, they don’t need to pay cold hard money. This is where we can practice the sharing skills we talked about last week. You will find out how you can help another business owner and he / she can help you when you are gone. I bring it here so you don’t forget to use this resource.

One of the most important things you can do to achieve your business goals is to connect with people on your customer list. If you don’t have one yet – start building one, even if you don’t know them personally. Do this by posting announcement postcards to the surrounding area of ​​your business. If you are a brick-and-mortar store, announce the opening date and offer a small gift for the 25th or 50th customer on opening day. If you have a business that doesn’t have a walk-in shop, send them the same announcement about starting your business and give them a tear-down coupon (along with their name and address) for a chance to win something in their planned drawing. 6 days after your mailing date. All future advertising will start with your “Customer Database”.

You should find your “place” or “place” as they call it on Madison Avenue. Your niche is where you stand, what changes you, and the first thing your potential customers want to think about when they hear your company’s name. Put it down on paper and everything you do from this moment on is what you have written.

Next is a “benefit list”. What benefits will your customer gain from doing business with you over your competitor? What makes your business or service special?

After that, you have to decide what “quality” you offer. In this sense, quality is not what you put into your business, but what customers get out of it. The tin whistle you sell can use the highest grade tin but the customer doesn’t care. What the consumer cares about is that his tin whistle will stay in one piece while his 6 year old plays with it. Look at “quality” when it sets you apart from the competition – but not from the POV customer (from a standpoint).

Once you put these lists on paper, look at them and honestly assess if your competitors are offering you the same benefits. If they do, distinguish yourself and emphasize a competitive advantage. Then develop your “lift” pitch. If you have 10 seconds to tell someone what you did for a living, they’ll want to know more – it’s your “lift” pitch.

Once you do business, keep track of your “A” customers. Not all customers are created equal. Some buy more, focus more, are easier to deal with, and come back. Treat your “B” list customers like royalty, but your “A” list is like family.

Keep track of your success, because everything you did right becomes another tool in your marketing arsenal. When you have the capital to invest in some marketing, reading about the success of others who do business with you always guarantees new clients. This will increase your credibility with new clients.

The key to success in every business is not service. The only definition of “service” that is meaningful these days is that it is whatever the customer wants. It’s not something you’ve always done in the past; That is what makes the customer happy and returning.

Guarantees are very important in any type of business and people expect it. The longer the guarantee is, the more attractive it will be and fewer people will demand a refund.

Feedback is important, and I can’t find a way to make it stand out. Approximately 70% of lost business is caused not by poor service or bad quality, but by complacency after sales. Once you have served a customer, Jr.