When Sales Are Sagging and Times Are Tough What Can A Small Business Owner Do?
Historically, a company’s best source of sales is the existing customer base. Marketing studies have shown that it is up to seven times more costly to replace a customer than it is to keep one. Previous customers have already “qualified” your business and deemed it worthy of patronage. It should not be as hard to get them to become repeat customers because you’ve already impressed them with your operation the first time (haven’t you?). And this management of customer relationships–which in the past was more of an art form based on personality–has been transformed into a science with the advances of the digital age. CRM companies employing high-tech solutions, such as Constant Contact and others, have made customer relationship management accessible to the small business community. And the Internet has made it cost-effective as well. It’s as easy as sending email. In fact, if your small business is not using a Customer Relationship Management (CRM) program (includes deploying an ezine
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