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Archives for June 2019

Six smart ways small businesses can reduce customer churn

By Thomas on June 26, 2019

It’s much easier for businesses to keep existing customers than it is to gain new ones. However, generating customer loyalty is a process that isn’t always easy to fathom. Different customers want different things, and you need to understand exactly what your customers want. This article will take a look at six ways that you can interact with your customers in different ways, understand who they are, and become a better service provider that keeps its customers.

  • Understand your customers

The key to keeping customers is to understand who they are, what they want, and how they interact with your brand. By using real-time data and social media, you can enter a better conversation with them. The beauty of having customers is you can talk to them, so make sure you make the most of the conversations to get a picture of how you can make their experience better.

  • Use loyalty and rewards schemes

Customers really appreciate it when you give them something for free. There is a psychological phenomenon where if you give something for free, the customers will have an unconscious perception that they owe you something. By having a reward programme and incentivising royalty, you will build emotional equity that will keep customers coming back again and again.

  • Incorporate new technologies into your business

Artificial intelligence, augmented reality, and virtual reality are beginning to become mainstream. By utilising these technologies, you will set yourself at the cutting edge of your industry and help your customers get a better experience of your brand. Experience is the key, and driving engagement through these new media will certainly make a difference to customer loyalty and customer retention.

  • Using newsletters and social media

By creating engaging content and distributing it on newsletters and social media, you add touch points for your brand and can create a sense of community. In so doing, you create a deeper connection with your customers.

In sales we often talk about touches, and that you need to touch a customer seven times before they buy from you. It’s the same with customer loyalty. The more positive interactions that you can have with the customer, the more likely they will feel like they are your customer, and are going to stay.

  • Understand the key times for attention

You need to understand your marketplace and how your customers think. For example, if you are trying to build loyalty for a gym, you need to understand the importance of the January period, and all the offers that are going to be made by your competitors. If you are selling seasonal items, then you need to get the cycle of communication right in the run-up to that.

If you want to reduce churn, you need to make sure that you don’t give opportunities for competitors to steal a march on you by communicating power for messages in a vacuum. Make sure that you are having good conversations and creating the right perceptions in the lead up to these key times in your sales year.

  • Be human

In a world that has gone digital and computerised, it has become more important than ever to show the human face of your organisation. If people complain, then you need to deal with things in a human way, and not in a “computer says no” style interaction.

Having good people, with good customer skills, will make the difference between retaining and losing customers. Tell your story naturally, interact based on your understanding of customers, and talk to them about what they want, their problems, and the solutions you can provide for them, rather than just talking about what you have to offer.

There are so many ways to create customer loyalty and reduce churn. It comes down to focusing on your customer and understanding who they are and what they want. By creating a positive customer culture within your company, you’ll be able to retain more customers and grow your business.

 

Keep Your Trading Strategy Extremely Simple

By Thomas on June 13, 2019

It is necessary for all of the traders to behave in the right way. For that, the environment will also have to be something right. All of the traders will have to take some good time to sort things up. There will be a need for consistency in the business. And all in all, the traders will have to come with the best possible protection to the position sizes with the right kind of setting. Things will be all managed in the right way when we can take some good time to plan a good trading business. From the money management for the trades, there will be some good setups. The closing positions will also be managed in the right way for some quality trades. The traders need some good time to plan the right methods still. There is a way to get some good ways for the trades. It is necessary for all of us to work with something like the long term processes. We talked about all the things to ensure one thing only. That one thing is some decent level of environment for the traders.

 

Traders need to long term trades

As we were saying the right performance will come out when all of the traders can manage the most proper performance in the business. The traders will have to sort out better disciplines in the right kind of trading business. We all are going to be right in the game when there is a way for all of the right kind of performance. The technical analysis along with the other two forms of analysis will take time from all of the traders.

For the right kind of setting of the trades, there will not be that many good executions most often. But the traders still have to be patient and get some good kind of experience because it will not be a surprise for us to get a common experience and the same kind of volatility most of the time. More often, less crowded trading approaches also bring up the experience with a decent level of calmness. In any kind of business like this, the traders will get some good kind of vibe all of the time.

Use simple technical indicators

Some of the retail traders in Singapore often become frustrated after losing a series of trades. They simply rely on the complex trading system and lose money in the CFD trading industry. Leading your dream life based on currency trading business is a very challenging task. However, once you understand how this market works, it won’t take much time to develop your trading skills. Becoming a successful trader is just takes time. Rely on long term goals and execute trades with proper logic. Be smart and trade the market with confidence.

Good trades will come often

One more thing to remember is that there will not be a good income most of the time. The traders will have to know about the reality in the business. It is necessary for all of the traders to come with the right kind of setting in the business for most of the traders. What that will do is, make your trading mind aware of the right kind of setting for the safety of the capital. From there, all of the right kind of closing positions will be managed. That is what we all need to sort out in the best possible ways for the trades.

Right closing is important for us

It is necessary for all of the traders to come with the best possible setting in the business. There is a need for the proper closing setups with the stop-loss and take-profit. If you can get some kind of proper risk to profit margins. We can even be a little lazy and work with the same setup for almost all of the trades.

To read more on topics like this, check out the business category.

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I’m Thomas Stevens, a financial advisor who has a love for SEO. Anything numbers related excited me, so I started blogging about finances and budgeting. I also help others blog about finance – it’s always good to have a niche! Read More…

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I’m Thomas Stevens, a financial advisor who has a love for SEO.

Anything numbers related excited me, so I started blogging about finances and budgeting. I also help others blog about finance – it’s always good to have a niche!

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