Tuesday, October 23

How to Keep in Touch with Your Customers


understanding your customer is vital for growth.

These know-how marketing tips can help retain a strong base with your customers.
Unless you are very lucky and don't have competitor in your line of business, you must keep in touch with your customers.  If it happens that your competitors do this before you, they are going to take your customers away from you. In this world of uncertainty, you no longer count on customer loyalty.

You must keep your name in before your customers to prevent them from being tempted to "try out" the services from your business competitor that is trying to lure them in with amazing specials, convenience and fancy offers.

For a shop, what is it that you must to remain vigilant? Here, I have spelt out some suggestions to win your customer loyalty.

Appreciate Your Customers - Really
Every shop owner realizes the value of their customers, but do you really believe that your customers do?  Every shop owner should appreciate their customers and receive their money with genuine appreciation. You should ensure that your frontline employees understand the importance of each and every customer and that they show sincere appreciation.   

Don't Hide the Technician
For auto car centers, whenever your customers come in to pick up their vehicles, allow the technician a moment to greet the customer, explain to them the work that was done and thank them for their business.

Pre-set Appointments
Pre-set your customer's next appointment. This is an easy one to be done, just give the customer a small card with the next "service due" appointment. Remember to call them ahead to be sure  that the time is still convenient. This starategy works for the dentist, so it should work for you!

Survey
Since you  don’t know how your shop measures up and is meeting the needs of your customers, you should make a point f asking them since most of them  wont tell you when they aren’t happy but they will tell others. Know their feelings for your business and the services you offer, by so doing, your customers know you appreciate and value their business.

Direct Mail
You can decide to keep in touch by a quarterly newsletter, where you explain to them about all the services you offer.  You can also use the reminder card program since it is also an excellent way of keeping in touch. Don’t forget a thank you card or telephone call after a service has been performed.

Training the Staff
You can use a lot of money in advertising, maybe give your technician’s certification training and still lose the customer because your lead staff doesn't have a clue on customer relations. Help them by doing the following:
o   Enroll them in classes for help in this area of customer relation. This will be worth your time and money.
o   Ensure that your employees understand the shilling value of every customer and its reflection to the business and their paychecks. Each employee should know that every customer has an exemplary experience whenever they visit your shop. Don't just meet the customer's expectation - exceed it!
o   You should set a good example then your employees will follow your lead.
o   Let your employees know that customer loyalty starts with genuine customer appreciation.

Telephone Skills
This concern and is the chief difference between you getting and keeping business. Always have someone answer your telephone calls. If a prospective customer sends mail and calls but  gets no answer, especially if it is someone who has never used you before, they will go to your business competitor. It does not stir confidence when you get at a business and always find a ringing phone during business hours.

You can also recommended an answering  machine but as a last resort to state hours of operation, that each call is important and that as soon as you are finished helping another customer you will call back immediately. It is at least a gesture of goodwill.

Some General Guidelines on phone ethics:

Do answer the telephone this way: "sparks technologies,  this is Tim, how can I help you." Or, "How can I help you sir/madam?"

  •                 You can put the person on hold if necessary but don’t lay the telephone down.
  •                 You should always, always - answer the telephone.
  •                 Always - thank the customer for calling!
  •                 Listen to the customer and if you can't help them, get them to a person that can.
  •                 Use an on-hold message that states your services, hours of operation and specials.
  •                 Take a message when the person the customer wishes to speak to is not available.

Customer Complaints
Customer complaints can put your staff on their defensive due to guilt and this is just human. Help your staff get above this by appreciating them as they take the time to complain. This means they still want to do business with you. Occasionally customers don't complain to you, but to others, and then quietly take their business elsewhere. Through customer complains you have the opportunity to fix the situation and keep the customer's loyalty.

In summery, you should treat others the way you want to be treated, then exceed that. That is the best way to stay in touch and maintain the business relationship with you.

Saturday, October 6

Why should you bank on internet marketing?



Internet marketing?
Some major obstacles facing the Kenyan Small and medium Enterprises (SMEs) range from unstable cash flows to their inability to afford high-caliber workforce, power rationing to complying with a maze of central and local government regulations, nothing thus keeps their owners awake at night than the best way  to market their businesses.

The only available platforms of advertising which include radio, television and print media, are exemplary expensive, it is in return very impossible to measure their return to your investment. Apart from these, other business registration logistics also need a chuck from the pocket.

There is no need to keep worrying about such no more since there is a cheaper solution to the same. This is made so by the entrance of the undersea cable and where you can now be able to use it to market your SME. This is not a thing so new since you are already using it. This is the internet.

With the entrance of many network providers, into helping get SMEs online, you are able to your products /services, your contact details, your mission and vision, etc. this will enhance your image thus reaching a wider customer base. In addition, you also need not pay a designer to do it to you thanks to Google’s recent initiative that lets SME owners build and host their own websites for free.

In addition, you don’t even have to pay social sites to have your business image posted.  Popular social networking sites such as Facebook and Twitter also allow SMEs to create their own free accounts.

There are many advantages of internet marketing to your business which include:  your ability to update content round the clock depending on the new products in the market, the potential to discover what your competitors doing by visiting their websites and then seeing how your business can do it in a better way, the ability to target specific customers by using key words in your content among many others.

You should therefore, not fret because you can’t afford to market your SME via the usual suspects, you have an alternative staring at you. So pick up this information and use it for your benefit!!

Monday, October 1

Rules to help SMEs list at the NSE

Good news as SMEs will soon be able to list at the NSE
The earlier proposal that sought to have (small and medium enterprises)SMEs listed on the Nairobi Securities Exchange (NSE)   moved closer to fruition with the gazettement of new policies.

A message from the Nairobi Securities Exchange chief executive officer Peter Mwangi, revealed that the new rules will offer small and medium sized companies a platform to access long-term and relatively cheap capital. SMEs will also be able to raise their profiles through their participation at the NSE.

This follows the approval of Nominated Advisors (Nomads) rules and the NSE’s ongoing training of prospective advisors on their responsibilities to clients before the listing.The Nomads will assist firms to list and to comply with the good corporate governance practices.

The acting CEO, Capital Markets Authority acting Mr. Paul Muthaura revealed that they are looking forward to training at least 50 market intermediaries in the next 100 days in a new programme.

Mr. Mwangi also said that they will also offer lessons on corporate governance to directors of mid cap companies.  They are doing this so as to reassure investors seeking to invest in the fast growing and well run small companies.

The NSE is in the hunt for regulatory approval that will allow it to list on the bourse by mid next year. Its shareholders have already approved the listing through the introduction of the bourse to the Alternative Investment Market Segment.

Mr. Mwangi further said that the Capital Markets Authority gazetted the demutualization regulations in August and that they are now making a formal application, as required by the regulations.

Starting October 3, the NSE and FTSE International will be introducing FTSE NSE Treasury Bond Index that will allow investors to use an independent benchmark for the first time to measure their bond portfolios performance.

This new program gives investors the opportunity to access current information and provide a reliable indication of the Kenya Government bond market performance.

The NSE officials were speaking during the Diamond Trust Bank’s listing of new shares following the completion of a rights issue where the bank sought to raise Sh1.8 billion to fund its expansion plan in East Africa. The bank will use the funds to explore alternative investment opportunities sub-Sahara Africa.

www.businesstweet.blogspot.com