Loyalty? You can hardly get enough of it– feels like a rare commodity mostly where customers have wild options to consider. Even with a loyalty program in place, the competition is boundlessly growing. It's getting fiercer each day. There's totally no doubt about that.
But do you want to make your target clients creep back to your retail store?
Setting up an entrancing loyalty program is one engaging step a retailer can use to reach out to their most loyal customers in a gratifying manner.
Superficially, boosting your sales roughly equates to widening the customer base. A solid customer relationship management (CRM) gameplan is just part of what this objective requires.
And surprisingly enough, the acquisition cost for new customers lies between 5 to 25 times more than the price you'll incur to retain your old clients. The bottom line is, it’s way cheaper to keep a good rapport with your regular customers; just like the fortified bond, you could have for your pet.
Continue reading An Beginner's Guide To Creating A Customer Loyalty Program In 2020
To make a business come into existence is often a venture that stirs some mixed reactions. There’s so much workflow to execute, more precisely if you're a newbie. On the ground, things are a little more hands-on. A break-even point helps you draft a feasible business plan.
For that to happen, the idea of breaking even might casually cross your mind while operating your normal business transactions.
Calculating a break-even point is just but one bit of running a thriving business. It’s as cardinal as handling your inventory, marketing campaigns and, taxes. It's also used to assess recurring production expenses.
A break-even analysis allows you to assess the margin of safety. This, in turn, gives you a chance to estimate the risk before venturing into a business.
So why is the break-even formula of intrinsic value? For the most part, making such an analysis allows you to work with practical projections. That’s just a rough draft of what it’s all about.
Continue reading How To Calculate A Break-Even Point – Analysis, Definition and Formula
So you want to learn the highs and lows of online selling?
Well, that’s a pretty solid starting point. But to say the truth, the acute competition in the ecommerce industry is staggeringly endless and blustery. Learning how to sell online takes more than just being a little savvy about the current shopping trends to unravel the entire process.
You might even think of taking that online masterclass which appears so glossy on your email alerts. Not that I'm against this move anyway. But at times, you might end up with junk information that leads you nowhere.
Continue reading How to Sell Products Online (December 2019) – The Ultimate Selling Online Guide
Do you need to launch an ultra practical online business? It all starts with a pre-meditated ecommerce business plan. At first glance, this feels like a superficial blueprint for most starters.
But here's the deal.
You need an executive summary of everything you're about to do in order to convert your objectives into actual results. From the onset, you must put your thoughts on paper. It doesn't matter how smart you are. I'm pretty sure that Jeff Bezos of the retail giant, Amazon, sat down to sketch his master plan at some point during the initial stages.
What does this imply?
Continue reading An In-depth Guide on Creating an Ecommerce Business Plan in 2020