Your home based business ideas take time to flourish but there are few key concepts which you need to follow while implementing your ideas. Customer loyalty is one of the major factors responsible for business success. It is one of the proven methods to keep your customer happy in order to get repeat business and recommendations from them with your home based business ideas.Retaining customer on a long term basis is a very trying task in any business. You’ll need to have proper strategies in place to retain them. You could entice the customer once or twice by offering special offers and discounts. However, to retain your customers for the long term will require some special efforts on your part.Here are some ways to achieve customer loyalty:Keep your customers attracted:In order to achieve customer loyalty, you will need to deliver quality to your customers with a firm indication of value. Some of the other popular methods of achieving customer loyalty are:o Free offers
o Issuing discount coupons
o Providing products on credit with low interest rates
o Extended warranties, and
o other rewards and incentive programsUsing these techniques will help to keep them constantly attracted towards your home based business. Remember that the main idea of the customer loyalty program is to keep the customer happy and induce them to do repeat business with you. It will also motivate them to persuade others to use your products/services.Excellent customer service:The next key element to gain customer loyalty is by providing excellent customer service to them. Customers always expect help whenever they encounter issues and problems related to your products or services. You’ll need to have a proper support system in place to help them with addressing their concerns and finding solutions to their problems.They may not always come to you with the same problems and therefore it is very important for your support team to know everything about your business in order to provide effective resolutions.For example, if there are any problems with your product, it should be replaced or repaired or the customer’s money should be refunded. Dedicated customer support guarantees better results.Keep in touch:Never let your customer loose contact with you. Initiate contact periodically and remind them that you value them as your customer. You can do so with the help of newsletters, monthly fliers, holiday greeting card, anniversary cards etc.For any business to flourish, it is very important to retain your customers with periodical customer loyalty programs which will encourage them to do more business with you through your home based business ideas.
Home Based Business Ideas – Customer Loyalty Generates More Business
How Will My Small Business Benefit by Having a Website?
OverviewRunning a small business takes a lot of work. Every small business owner would like to see their business in the best position to grow. One of the surest ways to invest in your small business is to have a website. There are still a lot of businesses that do not have a website for their customers. In today’s online world people expect to be able to do an online search and find your business, products & services there. If you want to take steps to improve your small business, this is one essential place to start. Here are a some benefits for your small business having a website.Brand RecognitionThe vast majority of customers today use the internet when they are searching for the product or service they need. By owning your own website, you will be able to extend the overall presence of your business, being both offline and online. There are a lot of small businesses that do a lot of their marketing online. Not only does this save money, but consumer studies show that this is more effective as well, since your potential customer is already online using their mobile device to search for you. Your website can provide all the information about your business, products and services you provide, how they can contact you, maybe even shop online for your products 24/7, you can offer helpful information, tips and hints and you can provide photos of your business, team, products and testimonials from happy customers. Your website is your representing your brand online.More TrafficCustomers need to know that your business has a product or service to sell. Many customers are searching for quality products and services at a great price. However, it will be very hard to find your business if you don’t have a website. Building a quality website will drive traffic over time automatically to your website. This increases the amount of people who see the products or services that your small business offers. Always take the time to build a quality website, with quality information, in order to build up your web traffic.Higher ProfitsThere are few things as impactful in marketing in today’s world as having a website. If you want higher profits in your business, it is important to invest in a website that will drive customers to sign up for your newsletter, call you for a quote, buy your products direct from your online store or call you for more information about the services you offer. Over a period of time, this will lead to higher profits in your business. Every small business owner wants to increase profits in their business over the long-term. Dollars spent investing in a quality website that is customer friendly will yield many more dollars for the business in the future. All small business owners must think about the long-term trajectory and vision of their business and seriously consider investing in a website.Final ThoughtsThere are many small businesses today that do not have a website. They either do not understand the importance of owning their own website and the benefits to their business or they think they do not have the money to invest in one. A good question to consider is what money are they losing to their competitors (who are online)?The good news is that this is now easier than ever before to get a website. There are hundreds of web designers ready and able to build a quality website, most likely several right there in the area where they live. Anyone worried about building or coding a site can simply hire someone to do so. The price of building a website has gone down drastically in recent years.Investing in a website will do several things for your business. Not only will it increase your brand recognition in the marketplace, but over time it will also drive traffic leading to potential increased sales, ultimately yielding higher profits for the business.
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.