RSS
 

Archive for the ‘shares’ Category

Targeting, attracting and retaining credit

27 Oct

It was during the 1950s and 1960s that marketing first came to real prominence. In the 1970s, the focus shifted to techniques for mass marketing within an industry, highlighting techniques or reaching customers on a broad scale. In the 1980s and throughout the 1990s, the focus moved on to market segmentation, improving the way that customers in specific markets were identified and reached.

Now the focus has narrowed even further, with technology offering businesses the opportunity for mass personalisation. This is the ability to reach individual customers – targeting the right customers and then fulfilling their market needs – on a massive scale.

 
Comments Off

Posted in business, cash reserves, finances, international markets, merger, money issues, money tips, revenue, shares

 

Have confidence to develop a credit

25 Oct

If these new products do not exist, you can have the confidence to develop them.

Another way in which customer loyalty drives profitability is through the ability to increase prices to loyal customers, because, of all the possible purchasers, they are the ones best placed to understand the value of your products. Loyal customers do not typically require discounts or product add-ons to stay with you. If they are happy with the product or service they are buying and if it is competitive, they will not normally be tempted away. Clearly, this depends on variables such as the nature of the market, but there is an element of inertia in most markets.

Loyal customers can also be used to help with market testing of new products. This not only saves money in testing through other means, but it is also often much more effective.

 
Comments Off

Posted in bonds, business, credit, credit cards, international markets, loans guide, personal finances, pricing policy, shares

 

Developing a credit’s lifetime value

23 Oct

The concept of customer lifetime value is not new, but it is worth considering how customer loyalty and repeat business develop profitability.

Most obviously, the longer customers stay with the business the more they will spend over time. This is profitable because having sold once, there is likely to be less need to market or sell to them to attract them back; the only requirement is to focus on the quality of the value proposition. Loyal customers also provide a base on which to build market share, which in turn provides a platform from which to develop new commercial opportunities. For example, it can be used to attract advertisers or to entrench the business’s position in the market.

Repeat business often leads to referral revenue. If customers are pleased with the service they will tell others, and they can be offered incentives to do so. Satisfied customers may be receptive to new products as well as (or instead of) their original purchase. By clearly understanding what the customer wants, you can cross-sell other products.

 
Comments Off

Posted in income, international markets, loans guide, personal finances, pricing policy, revenue, shareholders, shares

 

  • Tags

  • Categories

    •