Tags |
|
|
Links |
|
|
Hub You - How To Grow Your Business On A Shoestring Budget
Heavy construction equipment requires a lot of capital investments. When the companies opt to buy these types of heavy construction equipments then they look out for the used equipments that may be on sale in the local market. This helps them in various manners. Companies sometime get used heavy construction equipment which are as good as new but the cost is much lesser than that offered in the showroom. Moreover, buying heavy construction equipment from the local market reduces the transportation cost as well. These overheads not look good in the balance sheet as they lead to increase in the project costs.Financing is a major concern while buying heavy construction equipment. Most
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 w
Laser cutting systems are quite in demand for normal and high quality laser cutting of various substances?from fabric to metal. Depending on the need for laser cutting, there are different types of laser cutting systems. These are high speed cylindrical laser cutting systems, CO2 laser cutting systems, ion lasers, diode lasers, fiber lasers, etc.Ion lasers stimulate the emission of radiation between two levels of ionized gas providing moderate to high continuous-wave output of around 1mW to 10W. Carbon dioxide lasers, on the other hand, use the energy-state transitions that exist between the vibrational and rotational state of the CO2 molecule to emit radiation that is of 10 µm, wa
1. Get more customers; 2. Get your customers to buy more; 3. Get your customers to buy more often.
The tactics to cover all three ways would fill a 190 page book* so, in this article, we’ll cover just one component of one of the three strategies, getting your customers to buy more often.
OK! So you want me to prove that I know what I am talking about, hmm?
How can you encourage customers to buy more often? Big businesses do it with loyalty programs. Airlines do have their frequent flier programs. Credit Card companies have their Rewards programs. Many large oil companies, department stores have loyalty programs.
But they all have one thing in common. They’re BIG!
But what if you’re a small or medium business. How can you afford to set up and administer one of these loyalty programs? How can a corner deli, a small hairdresser, a local hardware store, absorb all these costs? How can you compete?
That’s a lot of questions. Let’s answer them for you.
Most small businesses, and probably you too, have said, I can’t compete with these giants and their loyalty programs, they are just too costly for my business.
One way is to co-operate with other, non-competing businesses, where a number of you in a locality or mall, get together and share the costs of the venture, thereby reducing the individual cost. That’s worth thinking about. But that’s not what we’re here to help you with today.
Every business needs, and should have, a loyalty program. That’s a fact of life.
And you can have one too… Today!
It won’t cost you an arm and a leg to set up, and it won’t cost the other arm and leg to run. Nor will it take much of your time. It’s quick, easy and you can have it today.
So Listen up!
Have you ever used a Subway® store for a quick snack or lunch? When you pay for your meal they give you a stamp to stick on your little loyalty card. When your card is full, you get a free sub. That’s a loyalty program and it is easy and cheap to run. The cards and little stamps are cheap to print. The fulfilment cost is of the free sub is minimal, yet the perceived value is the price of the meal. “Yea, but,” you say, “they’re a big company.”
Yes they are, but they’re program is “el cheapo.” And it works!
Coffee shops offer a similar card, with a stamp or a “clipped” section. After 8 to 10 paid coffees, you get one free. They get you to buy 8 or 10 coffees at full price and then they reward you with a free coffee. Again, cards are cheap to print and the fulfilment cost is about 10% to 15% of the price of the cup of coffee. Yet your perceived value is the full price of the coffee.
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 wo
You might be new in this company and what is being practiced in your previous company might not be applicable to the present company. It has been a practice to present corporate gifts to almost everyone that has to do with the company; here are some that you should consider on giving a gift, partners, employees, customers and associates.When thinking about the corporate gifts make sure that it is in the corporate budget and use it as a business expense to show appreciation for the hard work of the employees and key customers. There are so many gifts on the market today and with so many choices it sometimes easier to go with something simple like a gift basket with a theme. Trends h
But they all have one thing in common. They’re BIG!
But what if you’re a small or medium business. How can you afford to set up and administer one of these loyalty programs? How can a corner deli, a small hairdresser, a local hardware store, absorb all these costs? How can you compete?
That’s a lot of questions. Let’s answer them for you.
Most small businesses, and probably you too, have said, I can’t compete with these giants and their loyalty programs, they are just too costly for my business.
One way is to co-operate with other, non-competing businesses, where a number of you in a locality or mall, get together and share the costs of the venture, thereby reducing the individual cost. That’s worth thinking about. But that’s not what we’re here to help you with today.
Every business needs, and should have, a loyalty program. That’s a fact of life.
And you can have one too… Today!
It won’t cost you an arm and a leg to set up, and it won’t cost the other arm and leg to run. Nor will it take much of your time. It’s quick, easy and you can have it today.
So Listen up!
Have you ever used a Subway® store for a quick snack or lunch? When you pay for your meal they give you a stamp to stick on your little loyalty card. When your card is full, you get a free sub. That’s a loyalty program and it is easy and cheap to run. The cards and little stamps are cheap to print. The fulfilment cost is of the free sub is minimal, yet the perceived value is the price of the meal. “Yea, but,” you say, “they’re a big company.”
Yes they are, but they’re program is “el cheapo.” And it works!
Coffee shops offer a similar card, with a stamp or a “clipped” section. After 8 to 10 paid coffees, you get one free. They get you to buy 8 or 10 coffees at full price and then they reward you with a free coffee. Again, cards are cheap to print and the fulfilment cost is about 10% to 15% of the price of the cup of coffee. Yet your perceived value is the full price of the coffee.
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 w
Because I do a lot of networking with very small business owners, I meet a lot of dual business owners. These are people, usually women, who own two businesses (or more).As a solopreneur, your resources are limited – that is, time and mo'ney. Managing and marketing one business is already a full-time job, so if your two businesses don't share the same target market, you may struggle – a lot.Sharing the same target market allows you to refer business to yourself, and if your two products/services are related, this is smoother. For example, if you are involved with two different MLMs whose products are both wellness related, you can easily market both to the same people. O
One way is to co-operate with other, non-competing businesses, where a number of you in a locality or mall, get together and share the costs of the venture, thereby reducing the individual cost. That’s worth thinking about. But that’s not what we’re here to help you with today.
Every business needs, and should have, a loyalty program. That’s a fact of life.
And you can have one too… Today!
It won’t cost you an arm and a leg to set up, and it won’t cost the other arm and leg to run. Nor will it take much of your time. It’s quick, easy and you can have it today.
So Listen up!
Have you ever used a Subway® store for a quick snack or lunch? When you pay for your meal they give you a stamp to stick on your little loyalty card. When your card is full, you get a free sub. That’s a loyalty program and it is easy and cheap to run. The cards and little stamps are cheap to print. The fulfilment cost is of the free sub is minimal, yet the perceived value is the price of the meal. “Yea, but,” you say, “they’re a big company.”
Yes they are, but they’re program is “el cheapo.” And it works!
Coffee shops offer a similar card, with a stamp or a “clipped” section. After 8 to 10 paid coffees, you get one free. They get you to buy 8 or 10 coffees at full price and then they reward you with a free coffee. Again, cards are cheap to print and the fulfilment cost is about 10% to 15% of the price of the cup of coffee. Yet your perceived value is the full price of the coffee.
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 w
You may be thinking that your business is just too small for BIG Project Management techniques, but that is simply not the case. Don’t let all of the fancy terms like Network diagram, Gantt chart, and Work Breakdown Structure scare you. And don’t worry if you don’t know how to use Microsoft Project or Primavera or any other PM software application out there…you don’t need it.Project Management is about organizing your data for a specific project and updating it as the project progresses. You can use a Word document or an Excel spreadsheet if you like, as long as you have something documented for your project, you are contributing to the success of that project.Let’s review t
So Listen up!
Have you ever used a Subway® store for a quick snack or lunch? When you pay for your meal they give you a stamp to stick on your little loyalty card. When your card is full, you get a free sub. That’s a loyalty program and it is easy and cheap to run. The cards and little stamps are cheap to print. The fulfilment cost is of the free sub is minimal, yet the perceived value is the price of the meal. “Yea, but,” you say, “they’re a big company.”
Yes they are, but they’re program is “el cheapo.” And it works!
Coffee shops offer a similar card, with a stamp or a “clipped” section. After 8 to 10 paid coffees, you get one free. They get you to buy 8 or 10 coffees at full price and then they reward you with a free coffee. Again, cards are cheap to print and the fulfilment cost is about 10% to 15% of the price of the cup of coffee. Yet your perceived value is the full price of the coffee.
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 w
All work and no play can make employees a rather dull group, don’t you think? Depending on the type of company you are part of, there might be room to hold a couple of corporate parties, get-togethers or picnics throughout the year. If you should be in charge of organizing and planning this delicate task, there are plenty of ways to approach this responsibility. When it comes to the many types of corporate party themes you might come across, which ones sound like a good fit for your office? Below you will find a few popular corporate party occasions and ideas to consider:Christmas: Many corporate offices hold a Christmas party with spiced eggnog, mistletoe, and the lighting of a mo
A fresh chicken shop gives away a small cheaply printed card with a purchase of chicken. The card says that if you purchase 4 lots of chicken priced at $25 or more, they will give you $5 of chicken free. The card is good for 12 visits so you can be expected to buy at least $300 worth of fresh chicken and chicken products. For that you will get a perceived value of a total $15 of fresh chicken which will cost the store about $7 or $8 to fulfil. That’s about 2.5%. Is that costly, or too much trouble. Hardly!
An airport parking company offers a similar card, giving one free parking after you pay to park 4 times. They use a small rubber stamp to mark the card each time you park there. As the turnover of cars parked in the lot is high, the actual cost to the company is virtually nil, yet your saving is the perceived cost of a single time park at the lot.
All these are very cheap and easy to administer, loyalty programs. The key is to have a small, cheap to print card (do it on your home computer if you like), and the low cost of fulfilling the reward, such as a cup of coffee that costs just a few cents, compared with the value the customer perceives.
If you’re an accountant who charges $195 per hour to do work for your clients, but you have 5 spare hours each week, where’s the cost to you in offering a free 30 minute tax, investment or business consultation valued at $97.50, for time that otherwise may be idle, yet can give you loyalty from your clients or bring you in new ones?
Let’s face it, 10 cups of coffee at $2.00 each is $20.00, one free cup may cost you 25 or 30 cents. Isn’t worth spending 30 cents to get $20, and only have to spend it after you have got the $20 in your bank?
And it will bring in lots more repeat business.
So, put on your thinking cap, open your eyes and look around your business and identify your most popular selling item, one that can be offered at low cost to yourself. Then start your own loyalty program.
Do you have only one product or service? Great! The decision is already made for you. Now you only have to decide how you will incorporate it into your own loyalty program.
Here are some ideas: * A lawn mowing or garden maintenance service can offer a free service for every 5 or 6 six paid services * A hairdresser can offer a free treatment or product for every 5 or 6 paid treatments * A dog wash service can offer every 5 wash free * A liquor store can offer a free bottle of wine on every sixth visit All these can be run with a small, cheap card that can be printed on your home computer.
Another way to get your customers to buy more often is by starting a loyalty club. This takes a bit more wor
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.iadvice.info/article/4358/iadvice-How-To-Grow-Your-Business-On-A-Shoestring-Budget.html">How To Grow Your Business On A Shoestring Budget</a>
BB link (for phorums):
[url=http://www.iadvice.info/article/4358/iadvice-How-To-Grow-Your-Business-On-A-Shoestring-Budget.html]How To Grow Your Business On A Shoestring Budget[/url]
Related Articles:
Thank You Corporate Gift Baskets
How To Profit From Your Hobby In Three Easy Steps
The Finite Element Method: A Four-Article Series
Bookmark it:
|