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BUSINESS IMPROVEMENT IDEAS
And This is How YOU Can Take Advantage
It has been noted that in the first five years of a business, there is 70% chance that it would fail. It is not always easy for business to find their footing but with smart and effective ideas, they sure would. Improving a business takes time and attention to what the final consumers want. Getting the final consumer his wants in an appealing way is a step at revitalizing the business. The business manager must also think of effective means of personally getting in touch with the consumer – there needs to be a sustained relationship between the business and the final consumer.
Businesses are different and the applicable methods are likewise; however, the ideas that are supplied below can be applied subjectively with the kind of business.
First, advertising is vital. Word of mouth might reach hundreds but advertising would reach thousands. Advertising is a non-personal form of communication through the use of platforms that would get to as many people as possible. Advertisement could be in form of mass media, social media, bill boards, promotional flyers etc. Advertisement is paid for mostly and the cost is mostly reasonable for the effectiveness it brings to the table. A company willing to promote a new and existing product cannot do without advertisement. It is what would get the news or notification about the goods to the final consumers.
Second, personal selling is effective. This is basically the direct communication and interaction with customers – both present and prospect. By this method, customer can be informed and persuaded about products and promotions as they come up. Personal selling as being reputed to be expensive but compared to its effectiveness, it is a method a manufacturing company should consider. This could be by rack jobbing or by opening retail centers that are exclusively chains of the company. This method helps to create a relationship between the final consumers and the company.
Third, direct marketing is basically keeping up with the customers. Advertisement is made to the entire public but direct marketing is made directly to the final consumer. Direct marketing involves the sending of mails and letters on coupons, promotions, new products, toll-free lines, stores and many others. These mails are sent to persuade or urge the customer to make a purchase or a check a product out. It could also be used in social media platforms with direct approach on customers.
Fourth, offers and promotions would definitely bring more customers. When companies want to increase sales or inform the public about a new product, sales promotions are resorted to. The method is very helpful in getting old customers back and getting new ones. This could be in form of additional milligrams to consumer goods.
Fifth, Public Relations are essentials as they give customers a virtual view into the company. Having good public relations helps in keeping a good reputation for the company. Customers and investors would invariably find transparency a virtue they would want to be a part of. The 21st century is a world of sustainable business practices.