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Related Small Business Articles:
Small Business Marketing Series - Choosing a Niche Market
Many smaller businesses choose niche markets for various reasons and these niche markets can be very lucrative. This article will look at ways to identify and assess whether they are right for your business?
A Look at Small Business Incorporating in Florida
The choice to incorporate a small business in Florida has several advantages. Corporations are separate legal entities and, as such, the corporation rather than individual owners pay both the taxes and the liabilities. If you are thinking of running (or are currently running) a small business, incorporating in Florida might be a good idea because you would no longer held personally liable if your business suffered a downturn.
Solving the Late Paying Customer Blues
Nothing can drive a business down faster than customers who don't pay their bills as agreed. When you sell to customers on credit you are making an agreement with them. You will provide them with goods or services in exchange for their payment within the terms you agree upon. Period.
Using Technology to Manage Customer Loyalty
Don't let your customer satisfaction research initiative collect dust on a shelf. Integrate technology with research to optimize the use of customer information.
The typical company spends 80% of customer research time and effort gathering information, and only 20% of that time using it. Companies conduct research to gather information, but it is only useful if it can be turned into positive action.
In the audio book, "Sound Advice on Customer Loyalty," author Steve Walker suggests that integrating technology with research lets companies act on customer feedback intelligently everyday, translating into more loyal customers, and more profit at the bottom line.
Walker outlines three key applications of technology that help make customer research more effective.
"First, there's access. Technology centralizes customer satisfaction survey results, allowing enterprise access to information in real time." He notes that today's technology offers a number of ways to view customer data, such as in aggregate form or at the individual customer level.
The second application is action-ability. Technology can alert account managers of problems with an individual account so that they can take action to resolve the issue before it's too late, according to Walker. "After all, what's the cost of losing a customer, or perhaps more importantly, what's the cost of replacing one?"
Third, Walker identifies accountability as a key application of customer loyalty management technology. "Having access to real time information can be quite a motivator," says Walker, "Especially when account managers know their supervisors can easily view action plans, progress reports, and customer follow up activities."
Steve Walker offers advice on managing customer loyalty each week in the free audio newsletter from What's Working in Biz, http://www.whatsworking.biz/full_story.asp?ArtID=92
About The Author
Richard Cunningham is a principal of What's Working in Biz, http://www.whatsworking.biz, a publisher of business audiobooks and online audio programs on marketing, sales, and small business strategies.
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With franching being business it seems that there ae few places to turn to for impartial advice. Where would you go?
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Recently one of my customers told me the chaos swirling through his company was the result of poor cash flow. If only he had more money, his company would run better.
Franchising has made the world look really small. The well known flavors are now not just restricted to a single town or city but can be enjoyed world wide. Otherwise it would only be a dream for somebody in Asia to wear the fashion of Europe, for the West to have delectable food of the East etc. Globally as well as domestically the system of franchising has something good for everyone.