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Digg It - Customer Loyalty Means Bigger Profits 5 Tips For Repeat Business
I always buy my fresh fruit and vegetables from a little corner market, even though it's right near a big supermarket that sells at cheaper prices.
Why am I a loyal customer despite the fact I have to pay more?
It's because they remember my name each time I shop there, and if my bag is too heavy, t
Why am I a loyal customer despite the fact I have to pay more?
It's because they remember my name each time I shop there, and if my bag is too heavy, t
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
hey'll deliver it to my home. The big supermarket does none of these things.
If that small business didn't look after their customers, they'd be forced to close their doors within a month. Repeat business is absolutely essential for their survival. It's essential for the survival of every small bu
If that small business didn't look after their customers, they'd be forced to close their doors within a month. Repeat business is absolutely essential for their survival. It's essential for the survival of every small bu
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
iness.
So as a small business owner, how do you make sure your customers become repeat customers?
1. Say “Thank you”
It's so simple, so effective, and unfortunately so rare to be thanked when you purchase from a small business. We all like to feel special and so do y
So as a small business owner, how do you make sure your customers become repeat customers?
1. Say “Thank you”
It's so simple, so effective, and unfortunately so rare to be thanked when you purchase from a small business. We all like to feel special and so do y
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
our customers.
I'm not talking about the mindless, 'Thank you shopping at the XYZ store' as you go through the check out. Be sincere and make your thanks specific. "Thank you for buying your weekend newspaper from us. Did you realise you've been coming in for a year now?"
You
I'm not talking about the mindless, 'Thank you shopping at the XYZ store' as you go through the check out. Be sincere and make your thanks specific. "Thank you for buying your weekend newspaper from us. Did you realise you've been coming in for a year now?"
You
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
an also send a thank you through the mail. Make it easy by having some cards printed up with your logo and contact details on one side, then hand write a thank you note on the other. Nobody does this anymore so it will have a high impact.
2. Send Reminders
Any sm
2. Send Reminders
Any sm
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
all business that provides a service or sells a product that can be upgraded can send out reminder notices. Here are a few examples:
- The mechanic who services my husband's car sends a reminder notice every six months.
- My dentist sends me a card
ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc
every six months telling me I'm due for a check up. Our accountant reminds us at the end of each year to see him about our tax. I often get emails from software companies reminding me that it's time to upgrade to a newer version. A
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
>chiropractor I interviewed sends reminders to patients who haven't visited for six months to come in for a free spinal check up.A printer ink supplier emails customers to remind them that their printers might be low on ink. The email provides a link to their on-li
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e store.The termite inspection company that checks our house sends a reminder notice each year.
3. Be Reliable
This is such a basic rule, but it's surprising how few small business people get it right.
I interviewed the owner
3. Be Reliable
This is such a basic rule, but it's surprising how few small business people get it right.
I interviewed the owner
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
of an award winning electrical firm that gained all of its clients from word-of-mouth advertising. The owner said that the quality of their work was no better than other firms'. How did they do it? The secret of their success was their scheduling method which allowed their employees to always be o
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
time. Word got around very quickly.
It's very simple: turn up when you say you will. If you are going to be delayed, have the courtesy to call BEFORE you're late. Allow the customer to make a choice of whether they'll wait for you or reschedule.
If you tell your customer their goods will be de
It's very simple: turn up when you say you will. If you are going to be delayed, have the courtesy to call BEFORE you're late. Allow the customer to make a choice of whether they'll wait for you or reschedule.
If you tell your customer their goods will be de
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
livered by Friday, make sure they are.
On the other hand, if you find you're running ahead of schedule, call first. Your customer might not want the new office furniture you're delivering to clutter up the reception area if they're expecting a visit from an important client.
It's almost too ob
On the other hand, if you find you're running ahead of schedule, call first. Your customer might not want the new office furniture you're delivering to clutter up the reception area if they're expecting a visit from an important client.
It's almost too ob
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ious to talk about returning calls and emails.
Make a commitment to be reliable and your customers will buy from you again and again.
4. Reward the Gatekeepers
By gatekeepers I mean the receptionists, secretaries and personal assistants who may or may not give you access to
Make a commitment to be reliable and your customers will buy from you again and again.
4. Reward the Gatekeepers
By gatekeepers I mean the receptionists, secretaries and personal assistants who may or may not give you access to
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
the boss.
Years ago I worked for a big company as a personal assistant to the Managing Director. He used to be given all sorts of freebies from suppliers such fruit baskets, tickets to the opera and bottles of wine. One Christmas, David the owner of a training video company gave me a beautiful dia
Years ago I worked for a big company as a personal assistant to the Managing Director. He used to be given all sorts of freebies from suppliers such fruit baskets, tickets to the opera and bottles of wine. One Christmas, David the owner of a training video company gave me a beautiful dia
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
y instead of giving it to my boss. After that, when David called, I always put him straight though to my boss and I'm sure this contributed to his company becoming our preferred training video producer. He upgraded to a BMW, all because of a diary.
Gatekeepers are important for your business succe
Gatekeepers are important for your business succe
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ss. Look after them.
5. Don't Discount – Value Add
Christine, who owns a day spa and massage therapy business that I write brochures and advertising copy for has a policy of never, ever discounting. There are seven other similar business close by, so competition for custom
5. Don't Discount – Value Add
Christine, who owns a day spa and massage therapy business that I write brochures and advertising copy for has a policy of never, ever discounting. There are seven other similar business close by, so competition for custom
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
rs is fierce. Over the years we've seen a number of these businesses discounting to the point where they're barely able to make a profit. It doesn't take long before they're put up for sale.
Discounting attracts customers who chase cheap massages. So how does Christine's business maintain a soli
Discounting attracts customers who chase cheap massages. So how does Christine's business maintain a soli
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d base of repeat customers who gladly pay full price?
Value adding. She rewards her repeat customers with add-on services. For example, a loyal customer may receive a gift voucher that entitles them to a free 10 minute hand pamper with their next one hour massage.
What's more, the customer often
Value adding. She rewards her repeat customers with add-on services. For example, a loyal customer may receive a gift voucher that entitles them to a free 10 minute hand pamper with their next one hour massage.
What's more, the customer often
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
njoys the extra treat so much that they're happy to pay for an add-on service next time.
Remember my corner market? They don't even try to compete on price with the big supermarket. They value add by making home deliveries for their customers.
Repeat Customers = Profitable Customers
Remember my corner market? They don't even try to compete on price with the big supermarket. They value add by making home deliveries for their customers.
Repeat Customers = Profitable Customers
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ng>
Have you ever worked out how much it costs you to gain a new customer? A rule of thumb is that attracting new customers costs you five times more than keeping your current customers. Focus on keeping your existing customers happy and loyal, and you'll save on expenses and increase your profits
Have you ever worked out how much it costs you to gain a new customer? A rule of thumb is that attracting new customers costs you five times more than keeping your current customers. Focus on keeping your existing customers happy and loyal, and you'll save on expenses and increase your profits
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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