Client Management – The Art of Getting and Retaining Customers

“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” – Sam Walton

The heart and soul of any business is the person that is helping the most to run it. And if you think that the person running the company is the boss, you are wrong; it is the customer. If you think about it, you will come to this realization too that without the customers, even the owner or the manager of the company is useless, so both, directly and indirectly, the company is being run by the customer. One wrong step and the customer will switch to another company which serves him better and your company would suffer a blow it would not be able to recover from. This is where the client management pops in and helps save customers. Client management not only brings in new customers but also makes the previous ones loyal and rely on you instead of anyone else.

What is Client Management?

With the aforementioned problems, the most common question that pops up into the minds of the readers is, “What is client management?” Client management, colloquially referred to as ‘Customer Relationship Management (CRM)’ or ‘Customer Management’ refers to a system where the company enhances its relationships with the current customers and also aim to build up customer relations with the newer ones. Client management is one of the most basic techniques to excel your company’s sales and grow the customers exponentially. The better the client management is, the more clients you will get and the better relationship you will have with your customers. 

How to improve client management?

Know that you know what customer management, or client management, is, you can proceed towards the next step of knowing how to set up or improve the existing client management system. The first few steps are pretty simple and include knowing client management properly and having a positive opinion about client management. Many of the companies disregard their CRM and focus only on the product production side so as to acquire more customers, however, that is not exactly a good strategy. If your company is just starting, you will need to get as many customers as you can to grow and in order for you to do that, you need to solidify your customer relations.

So, how does one improve their customer relations and client management? Below is a list of a few steps you could follow in order to get better at CRM:

Know the Importance of Client Management:

Getting a customer is not hard, but maintaining a customer is the job where even the best fail. Client Management is really important for your business and you cannot excel in the market properly without it. Retaining a customer is very important for your business because once a customer buys and he likes your product; he will come back again and that would have a really large impact on your sales if you take an estimate of it on a relatively larger scale. However, if the customer buys from you one time and fails to be loyal to you because of some reason (e.g. failed customer relationship management), he will be unlikely to buy from you again. A proper CRM system will not only lead to your customers being loyal to you but it might even help your business acquire more customers due to customer feedback and rating.

Understand your Client:

Clients may seem to get overly annoying as the time passes but that is a good sign because they stick with you and head over to you when they are in need. Understanding your client is a big step in getting your customers to be loyal to you. The better you understand them, the better you will be able to serve them.

“Until you understand your customers, deeply and genuinely, you cannot truly serve them.” – Rasheed Ogunlaru

Other than that, you should also know your company, your worth, and your service. Never lie to your customers or make them expect something from you that you are not able to deliver. Customers appreciate honesty and if you are honest and deliver to them within the decided time-frame, you will be able to gain their trust and eventually, you can make yourself better to better serve your customers’ needs.

Maintain Friendly-ish Relationship:

Maintaining a relationship where you can be open with your customers about their needs and your needs is always a good way to go. Although it does not have to be that casual keeping it friendly helps you understand them in a better way. Remember the details about their customers like the type of things they like and using that data, analyze it and formulate a strategy with which you can serve them better.

Never Disappoint your Customer:

Your customer has a lot of respect in his heart until you deliver the product. Either you can work hard and/or smart to satisfy your customers and exceed their expectations or you can go slow and dull and disappoint them. Do note that if you choose to go with the former, you will be getting a customer understanding and upholding your customer relations with them apart from making them loyal towards your company.

Conclusion:

In the end, it is wise to summarize the above-mentioned details in the points that your customer means everything to your company and without him or her, the company will never be able to run. If you want to gain more customers and retain your current ones, you will need to make your client management system better because only then you would be able to make your company excel and get it on the path of success.

A famous quote by Shep Hyken states that:

“Satisfaction is a rating. Loyalty is a brand.”

These words summarize the entire marketing and client management relationship system.

Introduction to Strategic Marketing

In the old days, marketing used to be simpler. A person needed something and you created it and created it in such a quantity that it fulfilled the needs of everyone and you get the profit. Be it shoes, rice, clothes, food, tools, or anything that satisfied the need of a person, there were people to create it and earn profit from this creation.

However, marketing these days has changed significantly. Not only do you have to keep track of all the variables, but you also need to be on the top of the list of the direct and potential competitors you have that fulfill the same need as your products do. The method with which you plan, organize, lead, and control the market in such a way that you are the best among your competitors all while keeping your profits at a maximum and the costs at a minimum is called strategic marketing or strategic marketing management.

Strategic marketing management is not just restricted to the above-mentioned four steps. You also have to keep track of your customers needs and demands at the same time while you focus on the planning phase. Marketing is not the name of selling an already made product, it is a way with which you identify the needs of the customer and fulfill that need profitably. Basically, a carefully planned marketing in the current era where you consider all possible factors affecting you and your customers can be covered under the name of ‘strategic marketing’.

Strategic Marketing Management Process:

 The process of strategic marketing management includes four basic phases:

  • Planning
  • Organizing
  • Leading/Implementing
  • Controlling

Planning: 

The planning phase includes the careful inspection of the factors that are affecting and could potentially affect your customer reach and sales or become a problem with your marketing strategy.

The most basic analysis techniques used in the planning phase are SWOT analysis and PEST analysis. The Strengths, Weaknesses, Opportunities, and Threats analysis (abbreviation: SWOT) is a strategic process used to identify the named aspects of your business where the strengths and weaknesses are restricted to the environment found within the company while threats and opportunities are analyzed from the external environment. Once these are analyzed properly, a specific target market is selected from a number of segments and it is always wise to choose a target market where your business can flourish a lot more than others.

The next step in the planning phase is the PEST analysis which analyzes Political Forces, Environment, Social Values and Cultures, and Technological advancements and issues related to the type of your business. 

After the PEST analysis comes the competitor analysis where a company analyzes its competitors to find out relevant information about them and knowing how they could tackle them and improve their product so it overpowers its competitors.

Then the most important step of the marketing plan arrives; the development of the marketing mix. Marketing Mix is, to put simply, integration of the 4 P’s (Price, Product, Place, Promotion) in such a way that all of them are correlated with each other and give off the same kind of message, for example, if the price is greater, the product, place, and promotion should also be of high-quality to avoid any kind of confusion or distrust among the customers. 

When the marketing mix has been developed, a quick financial analysis should be done in order to ensure that the current marketing strategy or the marketing plan will be able to be accomplished with the current budget. If there are any problems, they are handled in the next step of reviewing your strategy.

Organizing:

The phase after the planning one is organizing one. The organizing phase develops a strategy to accomplish the plans and goals set in the planning phase. It basically organizes current data and cross-references it with the data which the analysis provided the company with and develops the best route through which the company could gain success in the shortest possible time with the lowest of the budgets.

Leading:

The leading phase, or the implementation phase, is the actual operational phase of strategic marketing where a company strives hard according to their plan to achieve their goals. This phase’s conclusion results in the outcomes of the company, and if the company slacks off in this phase, it will automatically lead to the demise and if it works hard and better than what was planned in the planning phase, it will see a lot of profit in its hands. This phase focuses more on the operational part than the strategic part, so it is of little importance in the strategic marketing, however, a strict eye should be kept on the incoming data (e.g. sales records, etc.) to find out any problems.

Controlling:

If any problems arise in the leading or implementing phase, strategic marketing introduces the phase of controlling where the problems are handled in either of the two ways: either change the goals or redevelop the strategy to achieve the same goals. A goal set in the planning phase may fail due to a number of reasons, and with bad strategic marketing, it is bound to fail, however, even if the marketing is right and it is still difficult to the reach the goal, the best option is to change the goal to lower it than the previously set one and strive hard to achieve this one. An alternative could be to redevelop a strategy, i.e. use the data in the planning phase and re-organize it in such a way that it changes your strategy to a better one. All of this is done in the controlling phase while the leading phase is on-going. The controlling stage changes how the leading phase will be altered.

Conclusion:

That’s a lot of information to swallow in one goal, but it is summarized and simplified to be as simple as possible. However, if it still feels like a bit too much, you should know that strategic marketing includes making decisions about a company like choosing a target market, developing a strategy to compete with its competitors, and when the time is right to implement this strategy.

Social Media For Business – Need of the hour

Social media for business. A term of great importance these days as far as branding or advertising your business is concerned. More than 3 billion people around the globe are using social media daily. 

If you reach the audience or desired customers through social media sites like Facebook, Twitter, Instagram, and more similar applications then there is a chance of attracting greater audiences even more than your expectations. 

Because of the revolution in the smartphone industry, access to social media sites is easier than ever. Then why not cash into this technology and make our business grow within no time.

Advantages of Social Media For Business

Viral in No time

You want to advertise your business or product. Share it with your friends and followers on social media and ask them to share it on their own with their followers. The people will start getting to know about your business in no time. 

This is the easiest and most economical way of marketing your business in the modern era. You will be surprised to see the coverage and importance being given to your business and you can also be able to get some reviews in the form of comments. 

In this way, you can bring positive changes to your business according to the demand of the public.

Engagement of Customers and Audience

As mentioned already in the above section, social media allows you to engage with your customers directly which has never been an easy thing to do to reach your customers. One-click and you can reply to their queries in no time. 

You can look for the reviews and expand your business accordingly. This makes customer support and customer service quite achievable. The satisfaction of the client the key here. And he can be thoroughly satisfied using social media platforms.

Use Influencers

You can make use of digital influencers. The micro and macro-influencers do not need an introduction. They are people with a higher number of fans and followers. You can use these social media celebrities to advertise your business. 

People look upon them as their role models. If they are showing off some of your products then it will be easy to influence the customers to buy that product. They can use paid posts for you. 

Small business companies can use micro-influencers as they are more economical. While established business companies are already taking full advantage of macro-influencers.

Increased Sales

A good social media strategy for business can ultimately bring a positive change as far as your sales are concerned. When you interact with your customers and form a friendly bond with them, it becomes easier for you to persuade them towards your products. 

Gradually helping in increasing your sales volume. And increased sales volume means a good-growing business.

Economical

Advertising through social media is one of the cheapest ideas. You only need to make a facebook page with your product/business name and start doing the work. It requires no money at all. And also known to be the simplest way of advertising these days.

On the other hand, traditional ways of advertising, for example, using billboards are quite expensive and it requires the help of the professionals and also quite a hectic process.

Social Media Sites

Facebook for Business Marketing

The most common social media site in use for years. Almost used by every person who has a smartphone. Its casual and friendly atmosphere can be used in a positive way. Simply start by making a facebook page. 

The layout must be perfect. Attractive pictures related to your product must be used. Keep your tone light and try to reach as many people as possible.

Linkedin For Business Marketing

Initially, it was launched as a social network for professionals, where users could host their resumes online but gradually it has started targeting a more niche audience. You can use Linkedin to target specific, relevant and more industry-specific audience which can help in to reach out to very serious buyers.

Apart from that, you can also run Linkedin ads to your product services which will improve your earning.

Twitter For Business Marketing

Twitter demands active users. It demands interaction. You need to follow the people of your field or the people that could be of any help in promoting your business. In return, you will also get a healthy stream of followers. 

Try to retweet when a customer has to say something good about you. Try to reply as many tweets as you can. This can bring a positive impact on your business.

Youtube For Business Marketing

Known for sharing video content. Youtube can be used to advertise your product only if you have a large number of subscribers. Otherwise, it may not help you at all. In such cases, you can use paid advertisements to launch your product. 

The ads must be given to people with a large number of subscribers. By doing this you will be able to deliver your advertisement to a larger audience.

Conclusion

Social media advertising of your business is no longer a matter of choice. Its the need of the hour. Your business requires social media. Every business needs social media.

In the long run, it is by far the most economical method of marketing your business.

You do not need professionals in order to do this for you. Social media platforms are user-friendly in the best possible ways.

Start a business. Use Social Media. And fly high.

Startup Company – Challenges Faced

Overview

A famous saying in this regard is:

“Obstacles are those frightful things you see when you take your eyes off your goals.”

Henry Ford.

So are you looking for a startup company? It’s not that easy. You will have to face a lot of new but solvable challenges. We can provide you with some of the expected problems and challenges based on experience and research. If looked upon with care, they can be handled quite easily.

Business or a company can go down for a number of reasons. People even die completing their age with a wish to see a proper company or business but might have lacked quite some basic things that are necessary for a startup company.

Startup Challenges

Some of the most common and pretty basic challenges that a company might face are discussed below :

Startup Funding

Money. The most important thing in a startup company or a business. Even, the most important thing in our lives. Everything is being done for money.

Financial management in startups requires greatest care. All the cards must be kept close to the chest and used accordingly.

And as far as the startup businesses are concerned, money can be a real problem sooner or later. The cash flow must be quick anyways. If there is a delay, it can hit you hard. It will disturb your progress and ultimately dampen your hopes.

The hiring of employees, the billing, the payments for software and stuff like that. Everything will be a risk if there is no free cash flow. If you want to take your company to the next level, you must manage your financial resources quite wisely.

Bad Planning

Bad planning or no planning at all. Both are equally dangerous. Planning is the prerequisite for everything. You need to cover all the bases from the very start. If you have started the business without proper planning it will take you down in no time. 

Sales, marketing, recruitments, profit, loss, management. In short, everything must be thoroughly looked upon before starting a business if you want to take your company to a competing level.

Extreme Market Competition

If you really want to succeed in the market, then you must pay a closer look at your competitors. You have to surpass them at any cost if you really want to have a higher hand in the market. 

You will have to look for their weaknesses and cash on them for your personal glory. ( Of course by staying in your and society’s limits.)

The competition gives the largest threat to a startup company. You have to play aggressively by taking risks in order to hit them hard and make your self recognized in the market.

Selecting Your Team

The recruitment at the start of every business or a company is of great importance. Your team must be competitive, hardworking, supportive, must respect the decorum of a TEAM, and should be willing to learn quickly. The selection of proper employees is one tricky part. It requires the utmost importance. You can never make your business grow all by yourself. You need a team . Collectively you can take the things forward.

While forming a team, one must remember :

“Birds of a feather flock together.”

Time Management

Procrastination is not always bad. But it is only important if you manage things properly. Time management requires some bold calls to be made. 

You have to look closely at the things that must be finished today and what things can be postponed till tomorrow. Do not affect the more important things by giving most of the time to lesser important things. 

Set up the priorities and work accordingly. The priority list must be made by observing all the tasks to be done. In this way, you can manage the time along with the tasks to be done.

Lack of Structure

For this particular term, a startup company must follow the established companies, who have properly managed company structures, well-defined goals, and training processes for employees for continual improvement.

Mostly the new startups lack experienced leadership which might lead to conflicts, new challenges, internal company problems, and disappointments.

Even if your company is great, the product is thought to be the best, you can fail if you don’t have a proper team structure, undefined goals, lack of experience management.

Comfort Zone

For difficult projects, it is being said that you have to take two backward steps for every forward step. It means the risk and difficulty level is higher. You have to show some grit. You have to go beyond your comfort zone. 

Now is the time that you learn taking tough calls. Startups are prone to higher risks. And if you are not willing to take these risks then you can not go much forward as far as your business is concerned. 

Conclusion

One does not have the magic stick to cancel out all the challenges faced in a destructive business startup world. What we can do on our part is just follow the basics. Keep the integrity intact against all the odds. Don’t go against morality.

Only a few but some of the most important challenges faced by the entrepreneurs are being discussed here. I hope these could be of any help to you.

Read this. Understand this. Take the necessary steps and you are all set to start a new business or a company. 

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