In an increasingly global marketplace, there has been a noticeable shift by countries to adopt International Financial Reporting Standards (IFRS). With the transition date fast approaching, Canadian publicly accountable enterprises will need to prepare for this change sooner rather than later. Read more
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More often than not companies lose customers due to poor customer care. Here are five common mistakes you should avoid when dealing with unhappy customers. Read more
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Business Investment for Great Returns
Print ads, direct mail and tradeshows are costly and do not necessarily provide a good return on investment. While some form of advertising is necessary, it is not a proactive approach to getting sales leads or sales. It relies on frequency and being in the face of potential customers when they need your products or services. And in these tough economic times when companies are cutting back on expenses, companies cannot afford to spend on something that might or might not work. They are looking for a better return on investment.
So how can companies have more control over their investments?
Consider setting up an in-house telesales/inside sales support department to help generate qualified sales leads for your outside sales force and/or to sell your products/services over the phone. To build a successful in-house sales department, you need to invest in quality sales and customer service training for your representatives because consistent sales and renewals start with great skills training, an investment that will pay for itself and benefit your company in the long-run.
Negative billing is definitely not the way to increase sales revenue. It creates distrust and has customers thinking about switching to the competitor.
From the customers' perspective, why should they pay more for a bundle that includes products or services they don’t need or want?
Instead, consider flexible bundling options so customers can create a package that fits their needs and budget, and provide them with discount incentives if they choose to use more than two of your company's products or services.
In a highly competitive marketplace, customers expect rates to be competitive and services to be comparable but what keeps them loyal to certain companies is their stellar customer service.
Perhaps it is time for your company to invest in the proper service & telesales skills training for your customer service representatives in order for them to handle any situation from solving customers' problems to identifying and closing sales opportunities. After all, inbound calls are more inviting than cold calls.
