5 Ways to Get More Sales from Existing Customers

5 Ways to Get More Sales from Existing Customers

Most businesses focus on getting new customers, but retaining your current customers is often even more important. Research shows that it costs 6 to 7 times as much to acquire a new customer than to retain an existing one. With this is mind, it makes sense to have a specific strategy in place to keep in touch with former customers, so that they continue to purchase from you. Here are some tips that can help you get more sales from your existing customers.

Take the time to understand what your customers value. Keep a record of every customer you work with, and note their needs, challenges, and preferences. Then, when you have a new product or solution that meets those needs, you can reach out to that customer and let them know about it. This kind of attention is rarely given to customers anymore, and they will appreciate the fact that you remembered.
Stay in touch on social media. Invite every customer to connect with you on social networks like Facebook, Instagram and Pinterest. Share fun events you’re holding, and creative uses of your products. Don’t just post your catalog…rather, focus on providing value. For example, you might set up a customer recipe board on Pinterest, and repin recipes that your customers post that you think other customers might enjoy. Your customers will enjoy being featured, and you extend the value of your business to your network.
Be a social connector within the community. Take some time to talk to each customer and get to know what they are involved with. For example, you might learn that a customer is a member of her local church choir. When you talk to another customer who is new to town and looking for a place to sing, you can introduce the two. This is a great way to help a new person get comfortable in town while naturally expressing the value your business brings to the community.
Participate and donate. Most communities have local events and causes that are important to the community. Make sure your business has a visible presence in these events and causes. For example, one local community’s food bank was facing a slowdown in donations due to the economic collapse, and in the summer months donations were even lower. Local businesses agreed to host local food collection boxes throughout the summer, and some even offered discounts to residents who brought in a certain amount of cans. Some businesses even posted about donating on their social media presences. As a result, the food bank publicized the businesses in its weekly church bulletin, and posted about the businesses on its social media profiles. The church members made a point of shopping at those businesses, which increased the visibility and repeat purchases of these businesses. It was a win for everyone, and the food bank stayed full for the summer.
Be seen often. As a small business, your best business marketing tool is yourself! So be present. Show up for as many local events as you can. Shop at other local businesses, dine at local restaurants, spend time at the community pool. The more people see you, the more they will remember your business. You can also use the time to get to know your customers better, so you can better service their needs. This all leads to repeat customers who come to think of you as a friend, and who go out of their way to shop with you.

The key to repeat business is providing a great initial purchasing experience, and then providing the personal attention and reminders that customers need to want to come back. Customers that feel like they have a personal connection to you are a lot more likely to make a point of shopping with you again and again. So build those connections! The result is a business that continues to grow as customers also refer their friends.

How do you keep your customers coming back? Would love to read your thoughts in the comments below.

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6 Ways to Work Better From Home

6 Ways to Work Better From Home

Home-based business owners have many advantages. Often the schedule is more flexible, you don’t have to face a daily commute, and you can be available for your family during the work day when necessary. But it’s still work, and your success often depends greatly on your ability to focus and remain disciplined. Here are some tips for working better from home.

Dress for work. Although we often get the idea that working from home means working in your pajamas, don’t fall into that trap! Dress for work each day to help yourself make the mental shift that you’re going to work.
Connect with others. It can be easy to become isolated when you’re working from home, which can make you less effective. Make time to connect with others regularly, either on the phone or by making time to get coffee. Connecting with others will help you stay sharp, grow your business, and prevent you from getting wrapped up inside your own head.
Separate your work and personal to-do lists. If you were working in an office, you would very likely only have work-related tasks on your to-do list. Your personal to-dos would be kept separate. Do the same thing when working from home, and keep yourself focused on work during the time you have set aside for your business.
Make a schedule. Even though your schedule may be more flexible, it’s still important to give yourself a regular work schedule, and a routine that you can get used to. This will keep you on task. You may want to schedule administrative work and other tasks at the same time the rest of the working world is working. This will also help those around you understand that you are at work, and give you more time for others when they are home from work. Lay out on your calendar when you will accomplish certain tasks related to your business, and hold yourself accountable.
Communicate your schedule. If your family is home during the day while you’re working, it’s essential that they understand when you are at work. Post your work schedule so that your family understands when you are working, and doesn’t interrupt you. Close the door to your office, and put up a “work in progress” sign. If you have young children, you may want to provide a special set of toys that they may only play with when you are at work, and schedule some time after work for your kids to enjoy with you as a reward for not interrupting.
Assess daily and weekly progress. At the end of each day and week, take a look at what you have accomplished on your to-do lists, and identify the places you got off track. Are there places you became distracted, or did your family need time you had set aside for work? Make adjustments regularly based on these results, so that you can be sure that the time you set aside for work is as efficient and realistic as possible.

With focus and discipline, working from home can be a real advantage. However it’s not always easy to avoid distractions and get the job done. Identify the distractions and keep making adjustments to keep yourself on course, and you’ll do a better job working from home, leading to a successful business.

What tips do you have for working better from home? Would love to read your thoughts in the comments below!

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Today’s Highlighted Video from the DSEF: Product Buy-Backs

Today’s highlighted video from DSEF:

Can’t see this? Click here: http://youtu.be/ryo8JT4z2hg

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DSEF & BBB: Back to School? Shop Smart!

By Kelsey Owen

Getting ready to go back to school? Join the crowd! In 2012, $83.8 billion dollars were spent on back-to-school shopping in the U.S., according to the National Retail Federation. That breaks down to the average person spending around $688.62 on their children in grades K-12.

Of course, not everyone will spend that much, but before you dive into buying new clothes and supplies, check out these back-to-school budget tips from BBB:

Make a shopping list. Even if you don’t know the exact school supply list, you should get an idea of school clothing and other school needs. Make a list for each child, but start by “shopping at home” for items that you may already have left over from last year. For some items, it’s worth spending a bit more (a high quality backpack will last for years).

Create a budget. Do a quick price search online for the items on your list and add them all up. Be sure to clip coupons, and make note of discount codes and any cash-back or rebate programs. If you goal is to reduce spending, now is the time to decide how much you want to cut.

Set up email alerts at your favorite stores. Monitoring pricing early on is key to finding good deals on quality products. Many sites will have an informed community of savvy shoppers on their blog or in their forums who willingly share deals, exclusive coupons, rebates and insider information on where and when to find the best prices, popular models and links to helpful resources. These alerts will assure you don’t miss out on the hottest, and/or limited, opportunities.

Take advantage of discounts. Many stores offer student and teacher discounts on hot items like laptops and uniforms. Retailers will be trying to make room for fall fashion and the newest models, so there are incredible savings to be had on older items.

Shop tax-free. Some states offer a tax-free holiday specifically for the back-to-school shopping rush in August. Check out the “2013 State Sales Tax Holidays” list to see if your state offers any tax-free shopping deals.

DSEF and the Council of Better Business Bureaus (CBBB) foster honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visit www.bbb.org/us for more information.

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DSEF & BBB: Before You Sell Your Electronics, Safeguard Your Personal Information!

DSEF & BBB: Before You Sell Your Electronics, Safeguard Your Personal Information!

By Jason Mcglone

The market for used and refurbished electronics is understandably huge; it’s often a really good way to get a gadget for less than full price. What’s more, you can still stay up-to-date with the latest and greatest in tablets, cellphones and computers.

Whether you’re selling or buying used or refurbished electronics, you’ll want to be thoughtful when it comes to personal information. It’s vital to safeguard your personal information and to be sensitive of others’, as well. If you don’t you could risk embarrassment at best and identity theft at worst.

If you’re selling a phone or computer, BBB recommends that you be sure that you wipe all the personally identifying information from it before you ship it off to the person, or business, to which you sold it. This should be a fairly simple task that almost any competent user can achieve.

If you’ve never attempted to wipe the personal information from an electronic device, or would like to have a resource on hand to walk you through it just in case, the blog Lifehacker has guides on how to wipe your smartphone and the best approach to tidying up your computer.

Should you be in the market for used or refurbished electronic equipment, you might consider wiping its information before you begin any heavy usage.

For more information about selling or buying used and refurbished electronics, see the “Technology” category on the BBB.org Blog.

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5 Creative Ways to Keep Your Business Thriving in Summer

5 Creative Ways to Keep Your Business Thriving in Summer

During the summer, some business owners experience a drop in sales. People go on vacation, social networking numbers drop, and the usual ways of business don’t seem to bring the same results. But it doesn’t have to be this way! People are still spending money in the summer. You just need to be a bit creative to encourage those people to keep spending with your business. Here are some tips to keep your business thriving throughout the summer months:

Host a Summer Bash – People like to kick back and relax when the summer gets warm. So offer a party! Host a summer bash that offers food, fun and music. It’s a great way to attract families, and encourages them to bring their friends which can potentially open you up to new business. Post the flyer around town, as well as on local event websites, and sell tickets for the food (or team up with local restaurants to offer it.) It’s a great way to generate buzz and visibility for your business.
Get a Booth at a Local Farmer’s Market – Farmer’s markets today offer much more than just produce, and many consumers look forward to shopping there weekly. Get a regular table at your local farmer’s market. You can offer products for sale while also generating new interest in your business. And take time to talk to the other vendors there. Often a community develops among the regulars, and they may begin to refer other business to you, as well as telling you about other markets where you may do well.
Offer Summer Workshops – During the summer, people often look for workshops, camps and other events for both themselves and their children. Local communities offer weekly learning events. So think about what you can teach related to what you have to offer, and offer workshops that will teach new skills while also exposing more people to your business. The business you cultivate in summer can bring you income all year!
Christmas in Summer – Chances are, the holidays are your most productive time of the year. So offer a “Christmas in Summer” event. Pull out those holiday decorations, and offer specials that help people begin their holiday shopping early (saving them stress!) Host a holiday-themed event and serve holiday cookies, play holiday music, and make the even light-hearted in fun. It can be a great way for people to beat the summer heat and shop at your business.
Take Your Business With You on Vacation – Are you going on vacation? Don’t leave your business behind! Take along promotional items that talk about your business, and be sure to network with people you meet along the way. When someone shares a need they have that your business can meet, be sure to share information about your business. If you sell through parties or appointments, try to schedule some in the city you’re visiting ahead of time. By planning ahead, you can develop some new business, and possibly even write off your trip as a business expense (check with your tax advisor on this!)

Summer doesn’t have to mean a drop in business. You simply need to look at your business differently, and create opportunities that work with what people want to do.

How do you keep your business thriving in summer? Would love to read your thoughts in the comments below!

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DSEF & BBB: Trick Your Brain Into Saving Money

DSEF & BBB: Trick Your Brain Into Saving Money

By Kelsey Owen

Looking to save a little money? You may want to try “tricking your brain.” According to a new report from Chase Blueprint, a specific section of the human brain lights up when we face a choice, such as, say, spending money on something that we know we shouldn’t. The report goes on to say that, “Only 25% of us are born with the ‘good’ variant of that gene. Some people are simply better than others at self-control, and neuroscientific studies have shed light on why this is the case.”

While science (read: SCIENCE!) shows that our brains are more likely to choose the self-indulging choice, there are ways to “trick our brains” into being smarter about money. Not convinced? Lifehacker has put together a few scientifically proven strategies to be a better financial version of yourself than you ever thought possible.

Adopt a new mantra. For this exercise, you’ll be using the help of a fancy scientific term known as a “heuristic,” which is essentially a rule of thumb that you live by to make decision-making easier. You probably already have many money heuristics that you abide by every day—whether you’re conscious of them or not. If you have bad money habits that you’d like to improve—from getting zinged by bank fees to overspending on gifts—come up with a specific heuristic to help you combat each one. Psychologists have found that we tend to feel poorly about ourselves for breaking the rule, even if we created it. Weird, but helpful.

Make saving a no-brainer. In an experiment called Save More Tomorrow, employees were asked to save more for retirement by signing up for a 401(k), then voluntarily increasing contributions by a set amount every few months. The results? Over the course of 28 months, the average participant’s savings rate jumped from 3.5% to 11.6%. By having the money come directly out of their paychecks, before it hit their bank accounts, the participants never missed the money. Essentially, they bypassed the portion of their brains that loves temptation and activated the slow-thinking region that promotes self-control.

You, too, can apply this bit of trickery to any savings goal. Simply pick a start date, set calendar alerts for set times when you want to up your contributions, and then sit back and watch your balance grow. Certain banks and brokerages will even automate the process for you by letting you program a percentage amount by which you can increase your contributions over time.

Pick a plan and stick to it. Have debt to pay off? There’s a way to outsmart your brain here too. Researchers chalk the success up to three factors: choosing a particular plan, committing to the idea of allocating a certain amount to repayment each month and engaging peer support (read: those telephone or email reminders from friends). Once again, effort trumped any underlying genetics.

Spend on your best self. To make your money behave the way you want it to, you need to first decide who you are and then make your budget obey that identity. It can be hard to just “save” blindly or “not spend so much” when you don’t have a larger goal driving you. But if you’re someone who believes that providing for your children is important, you’ll be a lot more likely to make financial decisions align with your principles. Humans have a desire to see themselves in a certain light, and we’ll reject anything that conflicts with that reality. It’s a phenomenon known as identity reinforcement theory. In other words, you can override bad money behavior by adopting good habits that reflect the person you really want to be.

To read the full article, visit lifehacker.com/how-to-trick-your-brain-into-banishing-bad-money-habits-952152494.

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Three Sure Ways To Increase Loyal Customers

Three Sure Ways To Increase Loyal Customers

Building a base of loyal customers is essential for any business. These are the people that not only purchase from you regularly, but they also tell their friends about you, spreading the word in both their social circles and online. It’s important to spend time on a regular basis building up and nurturing your loyal customer base, in order to keep your business thriving.

Here are some tips for increasing your business’ loyal customers.

Identify your true client. Most businesses cannot be everything to everyone. So focus on identifying who your business can best serve. What are their needs? What can you do for them? When you create an ideal customer profile, you’ll be prepared to develop a loyal client base of people who are fully served by what your business has to offer.
Get involved with things that are important to your customers. Once you’ve created that ideal customer profile, you will have a better idea of the causes that are most important to them. Then you can participate in those things that allow you to promote your business. For example, if you sell health supplements, your true client is most likely into healthy living. Why not sponsor a 5K race that donates money to health research? It’s a way to increase visibility of your business and meet people who may be interested in what you have to offer. At the same time, your current customers who are interested in both healthy living and the research the race supports will appreciate your involvement, helping to increase their loyalty.
Constantly improve to keep up with your customers’ needs. Nothing in life stands still, and this should include your business. So make sure you are talking to your customers and researching what’s important to them. Are there breakthroughs or new products that will meet the needs your customers are telling you about? Have new discoveries led to new desires among the clients that you serve? For example, if you sell cookware, you may find that more and more of your customers are going gluten free. So find or develop some gluten free recipes and send them to the customers that you know have decided to eat this way. They’ll appreciate the resources, and the fact that you took the time to provide them, increasing their loyalty towards your business.

Yes, it takes effort to build loyal customers for your business. But the effort is well worth it when those customers continue to come back, and help you build your business even bigger by telling their friends.

What can you do today to build up your base of loyal customers? Please share your thoughts in the comments below.

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How To Be Persuasive Without Being Pushy

How To Be Persuasive Without Being Pushy

A big fear that many who enter the sales field have is that they may be perceived as “pushy” when seeking sales. It’s important, of course, to ask for the sale, but at the same time you don’t want customers to come away feeling uncomfortable about their encounter with you. So how do you find a balance? How can you be persuasive and get sales without crossing a line and becoming pushy? Here are some tips:

Focus on what they need, not what you want. This is the single most important thing that every salesperson must take to heart in order to be effective. If you are driven by quotas and your own bottom line, you will not be successful. The most effective salesperson takes the time to build a relationship with each and every prospect, discovering the challenges that he or she faces, and then crafting solutions with products or services that meet those needs. You may not sell as much at first as you would being pushy (at least not the first time), but what you will do is build customer loyalty that results in many more sales over the long term.
Make your solution realistic, applicable and concrete. In order to truly present a solution that is valuable to the prospect, you must understand WHY they need what you have to offer. If you sell to other businesses, take some time to learn about their business. If you sell to individuals, take the time to interview people who are in the target market of your product line and learn about their day to day needs. Invest time in truly understanding where your prospects are coming from and what problems they face. Then the solutions that you offer will come from a place of understanding, rather than sounding like you’re making them up as you go along based on what you want to sell. The best solutions are realistic because you understand the need, apply to the problem at hand, and truly offer concrete help to the problem at hand.
Tell stories. When presenting a solution, one of the best things you can do is tell stories that the prospect can relate to that draws similarities to their situation. Talk about another person who had a similar situation (this is one of the place your research pays off!) and how your product or service helped resolve that situation. The phrase “facts tell, stories sell” is quite true, because it helps people to imagine how what you have to offer is applicable to their situation. Many people are visual learners, so create a picture for them that helps them to understand why what you have to offer is compelling, and meets their needs.
Listen more, speak less. Even if you feel that you understand the prospect’s situations perfectly because you’ve seen it a hundred times before, let them tell you anyway. People are more likely to feel comfortable with the solution you offer if they feel like they’ve been heard. So be sure you listen more than you speak when working with a prospect. And when you do speak, rephrase what they’ve said and ask them to confirm that you’ve stated it correctly. Everyone wants to be heard, and too often we don’t listen enough in our society. Give the gift of total attention and listening to your prospect, and they will walk away from the experience feeling positive about the interaction.
Accept “no.” If you’ve done your research, listened well, shared stories and offered good solutions that meet the customer’s needs and they say no, that’s OK. While you will, of course, ask questions to confirm that they aren’t missing relevant information related to your product, not every single person will buy. If the prospect begins to avoid eye contact with you or their body language indicates that they are trying to distance themselves from you, it’s time to stop. Thank them for their time, offer a card and a willingness to help in the future, and move on to the next prospect. You don’t have to close every single person every single time. There are plenty of other prospects who need what you have to offer, and rather then spending lots more time on someone who won’t buy, focus on finding people who will be interested.

Think about your last good and bad experience with a salesperson. What made those situations what they were? Chances are the good experience was with someone who knew their product line and could answer your questions competently. It was someone who could point you in the direction of a good value that would solve your problem. The bad experience was probably with someone who was ill-informed about the product line and was simply trying to sell you something. Remember, a service-oriented salesperson is one who is focused on solving problems and meeting needs. This type of salesperson is the one who creates the good experiences that people remember and tell their friends about.

How do you avoid being pushy when selling your products? Would love to read your thoughts in the comments below.

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DSEF & BBB: Online Shopping Taxes to Be Implemented

By Nicole Bradley

According to The Wall Street Journal, online purchases will soon be subject to taxes. The Senate has passed a bill putting an end to tax-free online shopping; however, the final vote is set to occur on May 6. This bill, titled the Marketplace Fairness Act, enforces states to require online sellers all over the country to collect sales tax on any online purchase made by their residents. In the past, online retailers have greatly benefited from not having to charge shoppers with sales tax. With this luxury coming to an end, Web stores are now part of corporate support helping to aid the passage of the new bill.

Chief Executive of eBay, John Donahoe, explains that this bill will damage smaller retailers in that it will treat them the same way larger merchants are treated; however, these larger merchants have greater tax-collection capabilities.

Is this fair? What do you think?

For more information visit, http://online.wsj.com/article/SB10001424127887324743704578445220306876996.html.