The following post is written by our premium business member Joseph Kellner. Joseph Kellner is a top hair colorist and makeup artist in Orlando Florida.
Use The Internet To Boost Business During A Recession.
1) Increase the number of customers.
2) Increase the average size of the sale per customer.
3) Increase the number of times customers return and buy again.
That makes sense, don’t you agree? Recession or no recession, those are the primary ways to grow a business.
To this I would add that, although those are the only 3 ways to increase your revenue, there are two additional ways to increase your bottom line profits: increase productivity and cut your operating expenses.
For every dollar you save through those methods, 100% of the savings falls to your bottom line. With the Internet, you have a higher degree of leverage and accountability as compared to traditional media.
Here are the 4 major ways a quality web presence can help you improve in all of the above areas… We call them the 4 “Profit Points” of E-Business. The best part is, most of these strategies can be implemented without spending more money on advertising
1) Improve Conversion Of Website Visitors to Leads and/or Sales.
a. By improving the current design and website strategy.
b. By integrating email marketing and using automated follow-up.
c. Email marketing can also be used to communicate with current customers.
d. Hosted CRM solutions can help you streamline your sales process.
e. Implement “squeeze” pages or landing pages.
2) Increase Your Number Of Leads Without Spending More on Advertising.
a. Your website gives you global visibility – promote your url everywhere.
b. Visitors can find you via search engines and online marketing (but you must optimize).
c. Your website can help you improve effectiveness of traditional media via direct response.
d. Your website makes it easy to offer incentives (whitepapers, reports, demos, consultations) in exchange for contact information.
3) Save Money By Improving Productivity and Business Processes.
a. Utilize E-Commerce and automated order taking, billing, and fulfillment.
b. Take advantage of email marketing vs. expensive mail and telephone communication.
c. Utilize company Extranets and Intranets to centralize data and documents.
d. Offer online training and e-Learning (deliver training online and save money).
4) Increase Customer Retention and Customer Value
a. Increase in average transaction value (use up-sells via web order forms).
b. Increase in number of transactions (via frequent email and web communication).
c. Lower customer attrition through more frequent communication and improved
customer service (Online Chat, Email newsletters and Help Desk systems).
d. Setup an automated referral program.
e. Utilize social media strategies to build a community.
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