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Health according to the World Health Organisation (WHO) is defined as the state of complete physical, social, mental well-being and not just the absence of disease or infirmity. The WHO has affirmed health as a basic human right, as such provision of health care should be brought as close as possible to where people work.
For every employer, the health of every employee is of paramount importance. Aside health being a fundamental human right, the productivity of every establishment is directly proportional to the health of its employees. Unhealthy employees will be unable to meet up work targets, have a lot of sick leaves and might even have communicable condition putting other workers at risk.
Prevention they say is better than cure, and the focus of every health campaign in a work place should be on prevention rather than cure. It has been shown to be more cost effective to proactively spend on preventive campaigns than waiting for a worker to get ill.
Here are some tips on how to ensure good health for your workers:
1. Pre-employment and Periodic Medical Examination:
The best point for screening employees is actually when they are employed. It is important to make them go through medical examination, to determine any medical condition they might have, and have a plan for managing the condition while they work with the establishment. They can be appropriately posted based on these conditions.
Medical examination should also be periodic and not just at the point of entry
Education is key to every prevention drive. Every employee should be educated on common health problems, and all misconceptions should be corrected. They should be educated on warning symptoms and signs of diseases, how to prevent them, how to ensure safety at work place.
Employees should be subjected to regular exercise as it is an integral part of healthy living. Rather than sit in front of the computer all day, they should be encouraged to do small stretches, use the stair case from time to time. Outdoor Exercise sessions can be organized officially biweekly to encourage a healthy lifestyle. You can get some great gym equipment online that you can incorporate into your office exercise sessions, how about yoga for all the staff easy to set up with mats and cheap een with bringing in a professional yoga instructor.
After Education, the next most important step towards prevention of illness is Hygiene. Every employee should be taught on personal hygiene, hand-washing, how to keep their work place clean and safe.
Diet is very important to health. Employees should be taught about healthy eating. Ensure the cafeteria abides by all health standards. Periodic screening of food-sellers should be done for E. coli, Salmonella and other food borne bugs. Encourage eating of fruits.
6. Healthy Habits:
Discourage cigarette smoking, make the workplace smoke free. Also employees should be discouraged from alcohol use at work. Workers should be discouraged from over work, and encouraged to take up holidays when due as well as sick leaves when ill.
Hospital retainership services or insurance should be available for all employees
The aim of any Ecommerce business is to generate sales and drive the value of their conversion rates. True, but it is a little more than that. You also want customers to return to your site and repeat purchase.
Many savvy online business managers achieve this by building lasting connections with their customers. At a time when the attention span of the average online consumer is pegged at eight seconds, you work is cut out for you. But it is not as difficult as it seems.
In this post, we outline four ways you can build meaningful relationships and enjoy repeated sales from you online customer base.
1. Grow your network- it’s the lifeline of your sales strategy
Your network consists of business partners, professional colleagues, prospective and current customers, contractors, suppliers, partners, association members, family and friends. These connections are prospective customers waiting for you to meet their needs. How do you do that? By adding value to the relationship.
Don’t make connections and ignore them until six months later when you have a new proposal. Keep your business at the top of prospects’ mind by sending regular emails, useful newsletters and other items of value. This way, you won’t be a stranger when you contact them with a new product.
2. Communication is essential to sales
Business relationships have a short life span. If you don’t stoke the flames, your customers will move on to an active competitor. Keep your online presence hot and let them know you are still available. Post frequent articles on your blog, get active on social media and send your loyal customers digital freebies from time to time.
You rarely meet people at the exact moment you need something; the same goes for your customers. But when they need a product/service you provide, do they think of your business as the first point of call? Constant communication can make this happen.
3. Set up an automated communication system
The email is an acceptable and highly-effective form of business communication. Don’t underestimate the value of this service, because even on a shoestring budget, email marketing can connect you to thousands of existing and potential customers with a simple message.
Ryan Howard, Director at XEDI says sometimes, an email automation system is enough to keep you at the top of your customers’ mind. “Companies that maintain systems such as automated order or feedback forms usually enjoy good connections with their customers,” he says. Each exchange is always an opportunity to strengthen that relationship.
4. Reward your loyal customers
We love freebies. According to Bain and Co., a management consulting firm, a 5% growth in customer retention can increase profit by 25% - 100%. Repeat customers spend about 67% more than new customers, and one effective way to ensure customers remain loyal is by rewarding them.
Consider rewarding them with gift cards, movie tickets, white papers, or free download templates. Ensure it is something valuable or it will yield nothing positive. Happy customers tend to share their positive experiences with friends and colleagues, so you are assured of winning some new prospects in the process.
Online connections are the same as offline communications. Once you grow cold, your customers will easily forget. Keep the relationship hot by creating relevant buzzes from time to time.
Having a website to establish your presence online is a prerequisite when starting a business these days. However, while most entrepreneurs now understand the benefits of owning a website, very few entrepreneurs are getting measurable value from their online presence.
The goal of having a business website is to produce leads and sales. You can optimize your website to convert more visitors to customers. But adding email marketing to your arsenal is the best way to guarantee you convert a lot more visitors into paying customers.
According to Saad Raja, a leading internet marketing expert that has generated millions of dollars in sales online, told us no matter how well optimized your website is, some of your customers will simply not buy on the first exposure to your offer. Email marketing has been proven to convert to missed sales, and generates a very positive ROI.
To ensure you start your email marketing on the right foot, here are 3 super tips from Saad Raja.
1) Design an Opt-in Page
Signal says that sending traffic directly to your home-page is an inefficient way of marketing. According to him, designing an opt-in page is a far better way to generate leads, sales, and customer. An opt-in page is a single page that offers your customers something of value for free in exchange for their email. The opt-in page is connected to an email marketing software like Aweber or GetResponse.
Whichever niche or industry you are, you can find a USP that your customers would respond to in exchange for their email. It may be a free pdf, a discount, or a free product, while you get their email in return that will enable you market to them for as long as they remain subscribed to your list.
2) A Thank You Page or an Offer Page
After a prospect inputs their email, you should send the prospect are to a thank you page where you thank them for trusting you with their email. More importantly, the thank you page is also a chance to convert your visitor to a customer. Sending them to your best converting page is ideal.
However, you can also send them to your homepage, especially if your home page converts decently.
3) AutoResponder and Email Email Broadcast
Now you’ve your prospect’s email, it’s time to send them a series of messages that will gradually introduce them to your company. Your messages should communicate how your product will help them solve a challenge or make their life easier. It should also communicate the value they would receive by taking advantage of your offer.
Email marketing enables you to write this email series once, and they are automatically sent to any person that opts into your email campaign. You don’t have to lift a finger every time and your customers will receive your message daily, or weekly or monthly, as the case may be.
Also, you can send special broadcasts either to offer a discount, introduce new products, or launch a contest. With email marketing, there is just so much you can do.
Your customers can also reach you easily if they have any special needs and you will get actionable information that will help you serve your customers better.
Saad Raja attributes the success of his online marketing company to the power of email marketing. Taking advantage of email marketing will greatly improve your profit and make your website and online marketing efforts much more profitable.
Ok what is a cloud server and what does it do for your company?
They were originally used for backing up your hard drive data but have evolved since then on many levels. Cloud servers are the future for sure as they are so versatile with the addition of remote access from any wifi or another internet like giving you the operator the power to access the documents you need immediately from any location. In this article, we will look at some of the benefits of utilising a cloud server in your business from the inside out.
Operational aspects of a cloud server
In the main, the whole issue of cloud server applications seem complicated but at the end of the day, it is not. The cloud servers are run on the companies own hardware and as such are maintained for the most part without any help from the users. This being the case they are more reliable than other hard drive maintenance problems. Additional, typically the cloud server and the personnel running it find any potential issue before you notice any potential problem so it is generally non-problematic operating as a base function.
When using a cloud you do not have to worry about bugs, viruses, glitches, non-updated drivers and communication issues between and of the integrated system they are linked to including your laptop and or networks which might take your time and money to correct such a problem. So this is one of the ways your company will save you money in the long run yet alone you will not have to maintain the operational aspects of the database to boot.
All of the employees your company is using will have access to the kinds of permission you allocate (to them relating to their need to know) thru the server, instantly as well as you set the viewing permissions. The directors remain in total control of access to potentially sensitive information on any of your clients, suppliers, contacts, past records, orders or even board meeting minutes or any such information you or your organisation may need to protect for the best interests in your organisation.
Saving money with the cloud server
In the long term you will not have to hire expensive technicians to maintain the company's servers as detailed but there are more ways in which they will help such as updating drivers and databases, the amount of server gig’s you need to run your company is completely variable depending on what you need to function let alone the point you do not need to buy buckets of server space you can “buy as you go” so there is always plenty of room for expansion when you need it by buying more storage power as and when you wish.
Cloud and low running costs
You simply pay for the amount of server power you need so it is totally dependant on what level of storage and operational data you need to use. This being the case there is little “startup cost” to implementing large-scale investment if this is relevant to your requirements. There are no huge costs with regards to any hardware upgrades when you use the cloud system as a whole. You will get everything updated, protected, secured and all with remote interaction as and when you need it without any of the cost or trouble that maintaining your own dedicated server.
As a rule 76% (according to the CSA - Cloud Security Alliance) there is a pattern forming from all manner of companies to upgrade their own cloud applications on a regular basis as well as their services that the server company supplies. This is mainly due to the need for companies to share information between its respective networks in day to day operations. With this feature, your team (no matter how big or small they are) can have direct access to the information they require as well as the full functionality to the table from any position in the world at any time.
Clouds and supposed carbon footprint
Some of the arguments for reducing the “carbon footprint” include some of the following:- Reduction from driving too and from work and allowing the opportunity to work from home, while allowing the company to “downsize” their operations if required, the faster you can share information with files without effort let alone saving you money and using less costly resources in the bargain.
The cloud is always on so to speak so it will always save you time and effort trying to rush to work in time to get that important memo before the deadline from home. With the school run also a very important part of your employees day you want as much productivity from your workers whether it is from home or at work, of course. Wherever there is an internet connection or a mobile phone signal you have access to your staff at all times.
Security concerns and the cloud
Cloud servers, for the most part, are what is called “hardened” as well as protected to the nines so to speak. If there is any kind of natural or non-natural disaster these servers will be maintained and protected as a matter of course so your data is more secure and you or your company do not need to worry about this aspect in the main. Of course, there are varying levels of protection and for the most part, you get what you pay for.
Automatic backups are a matter of security so the server operators have a duty of care to look after your data all of the time and a failure to do so will result in major damage to the companies reputation as server operators in the first place. Security audits are conducted on a regular basis so there is little worry on your part as a company as you are in full knowledge of this fact making the whole process even more attractive in this aspect. Again, this secures your more sensitive information making the implementation even more attractive to the client, you.
As Chris from Umbrella says “A happier workforce makes a more productive worker.”
Ensuring better control of your client’s documentation if you wish to secure proper business relations in both the short and long term. They will need to be secure in the knowledge you are the best “gatekeeper” for your sensitive information on your most valuable customers. Setting in the cloud organiser are set to give the operator various levels of control from just viewing, limited access to editing or fully open access to those who are cleared for such a level. Due to open editing from those with the correct clearances, there is the additional aspect you do not get a million copies of the same document clogging up your data bundle.
Implementation with ease
Using a cloud server is very much simpler than maintaining your own blade or server. Most of the major companies will help you in house to migrate your own data into their system and for the most part, they have a team of dedicated operatives there at your beckon call to help this process completely.
The above being the point 85%of enterprises have implemented the cloud systems into their applications in 2017 and as such they, are doing so as these are the most effective systems to bring on board at the least cost. This is a very good argument for the cloud systems due to the fact they work! Save your company and your budget some time and money by implementing the cloud system into your organisation. You will not regret it but become far more productive in the process straight off the bat.
Jumpstarting a business can be financially liberating. But launching a new business requires spending a lot of money to bring your ideas to fruition. In this piece, we will show you tips on how to start and run a business without touching your savings.
Apply For a Secured Loan or Business Bridging Loan
Instead of exhausting your nest egg financing a business idea, search for online finance companies offering secured loans or business brdging loans. A secured loan is a loan that is backed by assets the borrower owns, such as your home. Although this type of loan is considered risky, you can receive cheaper interest rates, which allows you more time to expand your business without going bankrupt.
If your business needs short term finance for a big purchase or office move a commercial bridging loan could help. Bridging loans are for large short term finance.
There is a common belief that you have to aim big in order to reach business success. Actually, making small investments gives you the flexibility you to change things about your business until you can turn a real profit. Spending a lot of money early on in your business invites more financial risk which could force you to dip into your personal funds to keep your business running.
Use Available Resources
Take advantage of available resources around you to create your business space. If you have a spare room in your house or a relatively spacious garage, you can convert these areas into your office or workshop depending on the type of business you're operating. Choosing this option saves you money on overhead costs. Look for any tools you already have around your home and start with these items. For example, if you are starting a business online, use your old computer instead of investing in a new MAC. If you are starting a landscaping business, use your own lawn mower instead of buying a new one.
Make Sure Your Services Are Useful
If you're determined to run your business without spending your personal funds, sell products or provide services that are useful in the average person's life without you convincing them to buy from you. Think about your business's location and base your marketing strategy around the needs or wants of your consumers. Although every business has different profit margins, a business that sells hot coffee will usually sell more units than a business that sells hot tubs, especially if your business is located in a rural community!
Encourage Customers to Pay Upfront
It's understandable that you want to place as many orders as possible to fuel your business's growth, which is why you should encourage your customers to pay at least 50% upfront to use your services. The idea behind this strategy is to minimize the amount of money you need to take from your borrowed business funds waiting for payments to clear or to be paid in full.
Market Your Business Using Social Media Channels
Generate sales via word-of-mouth from family, friends and the general public using social media marketing. Advertising on social media is a free tool you can use to increase your business's sales potential without dipping into your savings!
Great business-customer relationships are important for business growth and success. Loyal customers are a result of such relationships, and are important because they make up a large portion of sales for many businesses. Keeping up good customer relationships is no easy feat, and there’s hardly a business that doesn’t face one issue or another with some customers. Here are some useful tips for taking care of the precious relationships that exist between your business and your customers, so that you can provide the type of satisfaction that keeps them coming back for more.
Always Communicate Adequately and Effectively
In today’s world of innovative communication methods and devices (there’s a great book on Amazon covering this), there are so many ways to stay in touch with your customers, including calls, texts, emails, social media, and more. You should be able to communicate with and provide a prompt and polite response to all enquiries, and your customers should therefore be able to contact you too. Provide people with regular updates on products, services and any projects you are working on to ensure smooth development and work with your customers to iron out any problems along the way as soon as they arise. If there’s a period of time that you won’t be available to them, for a whole day or more for example, then it is a good idea to let them know. This helps avoid any frustration at trying unsuccessfully to reach you.
Never Misrepresent Your Capabilities
Business relationships, just like regular human relationships, work best when everyone involved is open and honest. Therefore, be honest about your capabilities and skills. If you think a particular project will take longer than expected to complete, be upfront about it. If your customers feel misled about what you can provide, their experience suffers, satisfaction drops and you could lose them. It is also helpful to let your reputation speak for you. Invest in proactive reputation management to handle what your customers know about you. When they know what to expect from you, from the business images, videos, reviews and other content they can see about you online, they’ll have faith and trust in your work and in your capacity to deliver. When it comes to managing your reputation online, hiring someone to handle it for you – to build, maintain and protect it – is better than taking care of it on an as-needed basis. Especially when the aim is to build a rewarding business-client relationship.
Be Genuinely Interested In Your Customers
Paying real attention and showing interest in your customers is an easy way to maintain customer relationships. Luckily, social media can help, as it provides a space for businesses and customers to connect. You can help customers to reach out by creating a company Facebook page, Twitter and Instagram account. Any issues, questions or feedback can be passed to you from your customers through these social networks and you can respond quickly. In addition to paying attention to them, being genuinely interested in your customers involves listening to their wants and needs and providing honest answers and only making promises you can keep. As a business, the worst thing you can do for your customer relationships is to make false promises.
Ask Their Opinion
As a business owner, you can gain a lot of valuable insight from your trusted customers by asking their opinions and advice. You’ll also establish a background of mutual respect and trust. By reaching out to customers, you provide a way for them to be intimately involved in your business and to feel like they are a significant part of it. The result is you will get practical feedback about what’s working or what you can improve on. Surveys, online discussion questions, in-person meetings and personal phone calls are all great ways to get conversations flowing.
In the business world, companies can build their brand name in many ways. One of the most effective methods is to build solid customer relationships, as there is a direct relationship between your customers and your profit line. These tips are a great place to start.
Buying a property overseas can be a wonderful financialinvestment or a great way to set yourself up for vacations abroad. But most people tend to avoid such investments because they believe them to be too costly. The good news is if you don’t already possess the required funds to outright buy a property located abroad, there are numerous financing options at your disposal.
While it might be true that seeking financing to buy a home abroad is less straightforward than seeking financing for a home in your locality, it is still doable as long you know what your best options are. Some of the more effective and convenient financing options we’ve come across include;
1. Using some of the equity from your current home.
While not all mortgage lenders are keen on financing a client’s goal of purchasing a property abroad, there are many others who will be more than happy to finance such a purchase. If you have an ongoing mortgage on your home, you can take out a second mortgage on it to finance your purchase. Depending on the value of your home and how much equity you have left, it is very possible to raise as much as you need via these means to get the property of your dreams abroad.
If your initial bank refuses to grant you another mortgage, you can also pursue the option of remortgaging your home. The option of remortgaging might even release more funds than you would have previously received from your original mortgagor. Also, you aren’t limited to mortgaging your home with a bank back home as there are international financial institutions that actually specialise in granting loans against real estate located in specific countries around the world.
But what if the option of a mortgage loan from the bank fails?
2. You can talk to a private lender.
There are various legal private money lenders available. While the terms of such loan agreements differ greatly from what you would find in a traditional bank, you can find a private lender whose loan agreement you find amicable by shopping around. There are even certain private lenders that specialise in loaning for overseas real estate purchases.
3. Bridging loan
Another viable option is a bridging loan which is a type of short-term loan. Depending on your needs or circumstances, you can take up a bridging loan for a time period anywhere between a few weeks and two years. If you intend on selling your current home to buy an overseas one, you can take a bridging loan from a bank to cover the interval between buying the overseas home and selling your current one.
4. Seller financing
As the name implies, seller financing involves the property seller loaning you the buyer the needed sum for the purchase. While not very common in many countries, there are other countries where seller financing is considered a norm. Seller financing is especially common in csountries where a credit rating system is non-existent and mortgage agreements aren’t very popular.
By speaking to the seller of your property directly, you might find him/her amicable to a seller financing option which could involve you taking over an existing mortgage on the property with the original owner as co-signor. By settling the debt on the property, its full ownership will revert to you.
5. Builder/Developer financing
Most developers of new buildings in various countries offer this financing option to sellers regardless their country of origin. This financing option can be funded by the developer and you’ll probably get a better loan offer than what the local bank can offer. Developers engage in these sort of dealings so they can sell their properties faster and you can use this to your advantage to get your dream home abroad at a great price.
As a retail business, what drives your revenue is a strong customer base. Many retailers focus on generating and nurturing leads which they hope to convert into repeat customers someday. This is a plausible strategy, after all, every savvy entrepreneur knows it is cheaper and a lot easier to retain existing customers than convert new ones.
According to a report by Thinkjar, it is 6 – 7 times more costly to win a new customer than keep an existing one. In another study by Marketing Metrics, businesses are 14 times more likely to sell to an existing customer than a new one.
Given these statistics, it is therefore important for businesses to consider what strategies they are using to ensure their existing customers keep coming back. Today, up to 65% of marketers have a running loyalty program. If your business falls in the other 35%, you are probably losing some loyal customers. Here are a few things you can do about it.
What is a loyalty program?
This is a rewards program issued by a company to customers who buy products or use their services frequently. A loyalty program may offer customers gifts such as coupons, free tickets, merchandise or even an advance on pre-released products.
The following are some effective ideas for loyalty programmes:
1. The simple point system
This is probably the most popular method. Here, customers who patronise a business regularly earn points which accumulate into some type of reward. For example, Le Accor Hotels offers customer points each time they use their hotel. When customers have up to 2000 reward points, they can get £40 off on their next booking. Of course, this is just for frequent users.
However, some companies make this relationship between points and redeemable rewards complex. To make it effective, keep it simple and easy to understand.
2. The loyalty card
Many retailers use loyalty cards as a means of achieving a 2-in-1 deal. The loyalty cards capture all customers details such as purchase habits, identity and so on, which they can use in marketing programs for a more personalised service. However, the main use of a loyalty card is to give discounts to frequent buyers.
According to Vend CEO Alex Fala, retailers can use loyalty cards to build a strong customer base. “When customers use these cards on your ePOS systems, you capture their use habits and can serve them better,” he says.
3. Charge an upfront fee for VIP benefits
Loyalty programs are designed to bring down barriers that exist between your business and its customers, so it seems odd that we are suggesting you charge them a fee, right? Well it has been observed that in some situations customers would rather pay a one-time fee to bypass certain barriers and access a service. This is good for both the customer and your business.
According to a 2016 study by Listrak, cart abandonment rate was 77%, and part of it was caused by the stick shock. The final price observed after tax and shipping prices have been added. Customers can be saved this ‘shock’ by introducing an up-front fee from the start.
4. Design non-monetary rewards around your customer’s preferences
This is one major advantage of the loyalty card. With it, you can understand the values of your loyal customers and reward them accordingly. It doesn’t always have to be cash-based. If you notice a customer buys iTunes cards regularly, then they probably are music lovers.
Instead of discount codes for your own products, you can give them two free tickets to an indie concert. Nothing will make them more love you more.
It is important to differentiate the benefits for existing customers from new ones, otherwise the loyal customers will feel ‘slighted’. If you are preparing a program to lure new customers, ensure it is different and comparatively of “less value” to programs designed for long-time customers. This way, you keep everybody happy.Clicks Online Business likes this.
It is inevitable. Even when you have a great online reputation, great reviews and everybody loves you. Then one crisis hits you and you find yourself struggling to keep up. Every business worth its salt understands the value of reputation management when something happens, but only exceptional businesses take proactive steps towards preparing for a crisis. A negative impression of your business online, whether accurate or not, can easily result in loss of current and potential customers or partners and affect your company’s growth at the same time. Here’s how you can position your company online to protect your business from a crisis that is yet to happen.
Own your story, tell your story.
Before there is a need for it, you need to create your business story and tell it. For now, you have the widest audience, so when you tell your business story, you control the narrative. You need to stay ahead and control your search results so that a negative story or review stay as hidden in the background as possible. Create enough positive online content by submitting relevant and captivating articles about your business’s positive work to different blogs and websites so that can be the first thing people see when they search for your company.
Make use of content optimisation
Content is of no use unless it is optimised. Work hard to establish your business credibility long before it comes under fire. “There are several ways you can use optimized content marketing, such as providing insights on issues surrounding your business sector or offering relevant information about your business sector in a way that the general public will understand. Doing this will make the general public (and potential customers) look up to you as a business to be trusted.”
- Alana - Online Reputation Management expert from Digital OX
Keep it business, but go beyond business
Keep your business more relatable with a cause that is not purely business. Many businesses are involved in charities and other activities that are not for profit. Talking about these extra business activities in a non-promotional manner keeps your business real and engages your customers positively. They also help bring your business to mind when customers are involved in these things as well. Remember that it is bad practice to involve your business in issues that can be polarising such as politics.
Privacy is a double-edged sword
In certain industries, it is okay, or even expected for their management and executives to be under the radar. Keeping a low profile has the advantage of helping your business remain in the spotlight. However, this can have the disadvantage of allowing the competition, and the press to control your narrative for you. The truth is, you can’t completely control your privacy and people are increasingly looking for what’s behind a business before they choose whether or not to engage. Rather than try to be private, you can choose to control your publicity. Choose what gets put out and what stays private. You need to manage the reputations of the executives of your company as much as you manage your company’s online reputation.
Pre-emptive digital reputation management is the best insurance for when a negative story or review or a challenge to your business reputation finally happens. The positive content that you put out there will continue to speak for you till the controversy blows over.
Selling is the basis for success in any business. In a truly successful business, everybody wins. Your customers must be satisfied after making a decision to buy your product services. You must win by having successfully converted a potential lead into an actual sale.
To a large extent, customers do not make buying decisions because they have considered a set of good information. Customers most times, make buying decisions out of a change of emotional of emotional state. While good information can help influence buying choice, emotions play a vital role in tipping the buying scales.
Understanding customer attitude & emotions is the key to improving sales. The customer does not look necessarily for a product or service that together meets both the needs and rational processes, a lot of times, their buying decisions is informed by the need for an object or item that becomes a center of symbolic meanings, a source of feelings, connection to relationships and emotions. The customer’s buying decisions are driven by two kinds of needs:
- The functional needs that buying the product or service.
- Emotional needs associated with the psychological aspects of the product ownership.
All buying decisions are influenced by the interplay of any or all of the following emotions, and understanding how to project your products or services to reflect and satisfy these emotions will go a long way in improving your sales.
- Greed: “If I buy now, I will get a bonus.” This works well with product or services that carry a form of reward, like a discount or offer loyalty. Customers are always interested in how they can get more for less and crafting your sales around this factor can help you close more sales.
- Fear: “If I don’t buy now, I will lose out.” This works when you have a time based offer. Customers tend to make up their minds faster of they know that the item will go off the market after a particular time. A lot of ‘expires by midnight’ offers see a huge boost in their sales before the time expires.
- Altruism: “If I buy now, I will be helping somebody.” This works best with the empathy/charity inclined customer. A lot if people want to feel they are doing something for the less successful, which is why most businesses use the “50% of sales from our products goes to building schools in the slums” concept. It works every time.
- Pride: “If I buy this now, I will appear better.” Intentional scarcity or niche marketing can help boost your sales. When your product or service appears to be only for a few select, then everyone will want to be on that boat. “I have one of the only hundred items XYZ produced this year” is as good an introduction as any.
There are many other emotions that run gamut in the subconscious of a potential customer. Understanding and taking advantage of emotion will helpachieve success for both inside saleand outside sales teams.
Every successful sale either creates or plays on one or more of these emotions. A buyer need to know, that apart from the functionality the purchase will provide, one or more aspects of his or her psychological makeup will be satisfied. When your product or services incite any or all of these emotions in an individual, a buying decision becomes inevitable.
Customers are always emotional. They have emotional cravings that need to be satisfied by the ownership or purchase of an item, sometimes, these feelings are Intense, sometimes they are barely perceptive; but they always come in play whenever a commercial transaction is in view.
What clinches a deal for any customer, what finally influences their buying decision is how the customer believes he or she will feel after he or she has bought the product or service.
“They may not remember what you say, but they'll definitely remember how you made them feel.” -- Tim Sanders, Yahoo
- The functional needs that buying the product or service.