S3 Blog

With the credit crunch on everyone’s minds it is no wonder that businesses are developing customer strategies to cope with the downturn. Any business that planned ahead and had a contingency plan for this will no doubt be feeling less of the strain, but for any business who did not have a plan or a strategy here are 10 customer strategies for the downturn:

1.Find out what kind of a return the business is getting from its marketing. Doing this will help to streamline business costs and will prevent customers from feeling the impact of over priced and ineffective marketing.

2.Target pricing – this means looking at your pricing and targeting it more effectively. If your customers can no longer afford your rates (and this will show in your sale figures) it is time to think about carefully targeting your prices

3.Listen to customer feedback – this is always essential for a business but never more so than in a credit crunch, listen to what your customers want and take notice! Do this and it will make all the difference.

4.Be relevant to the correct customers – being too general in your marketing and casting your net too wide can have disastrous effects during a downturn. Businesses who try to do this will find that they rapidly lose revenue and customers in the process by trying to be everything for everyone.

5.Enhance the customer experience – make sure that you are using CRM software that will make every customer contact count and enable a business to get the most out of these every time.

6.Perform a ‘healthcheck’ on your business – see which customers are loyal even during a downturn and give them a little something back. This could be in the way of loyalty discounts, something which customers are always keen to use when money is tight. Remember you want to keep hold of loyal customers and not just the ones that buy from you when you are giving discounts.

7.Increase customer engagement – engaging customers with your brand or business will create loyal customers which is exactly what you are looking for.

8.Take a close look at your loyalty schemes – are they targeting the right customers and are you, as a business getting the most out of them? If not it is time to change your loyalty schemes and raise revenue at the same time.

9.Think about affiliate programmes – these can stand to make customers who know, understand and willing to commit themselves to an affiliate programme a fair amount of money, whilst driving more customers your way. If you don’t already have an affiliate programme maybe it is time to think about one.

10.Keep costs to a minimum so that you are not having to penalise customers by increasing prices – do this by trying to use just one software application to run your business through, such as S3 CRM – the one stop shop for all your business and customer relationship management needs.

During a recession things get tough for everyone – businesses have to make changes if they are to survive it and come out of the other side intact. Consumer’s behaviour also changes quite significantly during a recession as people don’t have as much disposable income as they previously enjoyed. It is quite easy to think, especially with so many businesses closing down during a recession that it is all doom and gloom, but creativity actually thrives during a recession and many businesses do incredibly well.

It can be too easy to assume that a recession means the end for most small and medium sized businesses (and quite a few larger ones) but it can be an ideal time to start new a business, if you are creative enough. Many businesses are now taking advantage of the fact that people have to tighten their belts and online discount shops are thriving right now. Before the recession excessive spending was seen as something to be proud of and was even akin to a status symbol – paying over the odds for items that could be bought cheaper elsewhere. Now however everyone is looking for a better deal on the goods that they regularly buy and smart entrepreneurs have realised that to thrive in a recession they need to follow consumer trends – which during a recession is saving money.

With this in mind the number of businesses that are providing goods and services at greatly reduced prices are doing fantastically. Price comparison sites are being inundated with customers all looking for the cheapest electrical goods, holidays, insurance, groceries – and more. What business owners need to realise is that even though a recession makes people more aware of what they are spending their money on, they will not stop spending altogether. Consumers still need to buy goods and services; the only difference is that during a recession they will actively shop around for the best deal they can find rather than sticking with their regular retailers.

Creativity is always essential in business, but often it is easy to leave it on the sidelines when business is good, with many business owners not wanting to change their ‘winning formula’. Unfortunately it can be exactly this sort of attitude that leaves many businesses struggling when times change. Recessions force everyone in business to think differently and be more creative otherwise it is virtually impossible to stay afloat. Today those business owners that faced the recession head on are the ones that are reaping the benefits, as are the people who were creative and saw the business potential of the recession. Online there are now hundreds of shops which are selling off bankrupt stock from bigger retailers and there is no shame in looking for cheap products. Creativity really does thrive in a recession and anyone who buys products online can see this for themselves with the smart businesses listening to and taking note of consumer spending habits and altering their prices accordingly.

Finding a software solution that you can virtually run your business from can seem like an uphill struggle and that is why a great deal of businesses wind up using several different software applications. This is not only hard to work with (no one likes to have to have four or more applications open at one time and have to flick between them constantly) it is also very expensive. Due to this many small to medium sized businesses find that they have to cut corners or decide which software solutions they can afford to run at the expense of others. If you are the owner of a small to medium sized business that wants an amazing all round CRM solution S3 CRM really is a one stop shop. Here is what you can expect from S3 CRM the most flexible, accessible, comprehensive, cost effective and user friendly CRM solution available:

- Customer contact and employee contact information storage – here users can store all customer and employee contact details in different categories for easy retrieval.

- Storage features – quickly and easily store all information relating to a customer with their contact details so no information will ever go missing again.

- Quoting and invoicing tools – create quotes in moments on multiple lines and with VAT added as standard. When a customer accepts a quote users can easily turn these into invoices to be sent at a later date.

- Employee calendars – this feature allows a business owner to see which employees are available, on holiday or away sick.

- Project tools – use this feature to plan and implement projects, assign projects to users and see which users are in charge of which projects. Using this means that no project deadline should ever be missed, even if the user in charge of a project is absent.

- Email marketing – create email marketing campaigns in minutes and send them to your email marketing list.

- Reporting tools – see which invoices are outstanding, who has replied to email marketing, which customer has the most repeat orders and much more.

- Easy to use dashboard – users can create their own dashboard with all their regularly used features and tools on it. Business owners can tailor theirs so that they can see their business at a glance.

- Accessibility – as S3 CRM is web based users can log into their account from anywhere in the world that has an internet connection which means that business owners can stay in touch with the office even when they are not in the country.

- Easy to use – S3 CRM is so easy to use that anyone can learn how to access and it’s features in just a few hours – so say goodbye to long and expensive training days for employees. Just sign up a new user and they can be using S3 CRM in well under one day – without any intensive training.Cost effective – S3 CRM costs £4.99 / $9.99 per month which makes it one of the most reasonably priced CRM solutions on the market.

In addition to these features S3 CRM also offers – document storage, meeting planning tools, route optimisation tools, recycle bin – the list is endless, proving that S3 CRM really is a one stop shop.

An ISP or Internet service provider is the name that is given to a company that gives its customers access to the Internet. Some of the ISPs will also offer e-mail accounts as standard as part of their pricing plan and some may offer other services such as data storage. Choosing an ISP for your business can be quite tricky, obviously businesses want to have the best deal from their Internet service provider which is both cost-effective yet gives the business the Internet access they require.

One good way of choosing an ISP business is to take a look at some of the ISPs that are around on the Internet. BT offers a very good packages for business which can include broadband Internet connections and phone lines for one very reasonable price. In addition to this businesses can also have support from business broadband experts at any time of the day night - something which a business may need if they run into difficulties online which need to be sorted out immediately. BT also offers business e-mailing, a data backup service web hosting and even VoIP so that making and taking calls from all over the world is a breeze. You might even want to take advantage of the web hosted conference calls and video options that BT offer its business customers.

Smaller businesses who are wanting to choose an Internet service provider should look towards a provider such as PlusNet who are an excellent ISP for small to medium-sized businesses. Many of the packages which this provider offers are tailored towards a smaller business, which is perfect if you only have a handful of employees yet still want your business to be connected to the Internet and to have all the advantages and features that are larger business would have online.

It may be a wise idea to note down what your business needs are when you are looking to choose an ISP to your business. Doing this will enable you to see which of the ISP providers are unable to best meet the needs of your business. There is nothing worse than choosing an Internet service provider and then a month or so down the line of realising that they are not providing exactly what your business needs for its Internet connection.

When you have chosen your ISP for your business you to get in contact with them and arrange to set up an account with them. By speaking to one of the online advisers you might even be able to arrange for a package which will meet your needs exactly which is a mixture of two or more different plans. Internet service providers want to go the extra mile so you may find that speaking to provider directly is more beneficial than just using the information that is contained on their website. So choose your Internet service provider and start to make the most of using the Internet to your business and branch out into new markets.

As a business grows it is often the next logical step to expand into new markets, and this can sometimes mean doing business internationally. This is a big step for any business and it requires quite a lot of work to ensure that all international business is conducted in the correct manner and is not in breech of any foreign laws or regulations. So if you are thinking of doing business internationally – what do you need to know

• Is the product or service you trade in legal? This could seem like a strange question as you have been trading for X amount of years in your own country and not broken any laws, but these are the laws of your country. Make sure that you will not be breaking laws of specific countries you are considering trading in otherwise you could end up with fines or worse.

• Make sure that you are paying the correct amount of tax and check the import and export laws and abide by them. Failure to do this can result in fines and a business not being able to trade in other countries, something which must be avoided at all costs.

• Would it be worth forming a strategic alliance with the company in another country? Often this is a great way of breaking into new markets, and the company that you form an alliance with can help your business in its home country and vice versa. Having the backing of a company in the country you wish to move into can be a massive boost to a business.

• Would it be beneficial if someone in your business spoke the language of the country or countries that you are considering trading with? This can make business communication so much easier and it will also show that your business is dedicated to making international trading easier for both parties.

• Do a little research in the countries that you plan on trading in - this will enable you to get a good idea at the customs, culture and politics of the country that you are moving into. I understand more about the country business will be able to be much more successful in their transactions.

• If you are selling a product that needs to be assembled, does it travel well? If not you might like to consider setting up a factory in another country in order to assemble the product for delivery within that country. Doing this can cut down on customer complaints from broken or damaged products and it can also work out to be cheaper than manufacturing and shipping goods from another country.

• Do a little research about the country you are shipping into, there are so many different laws regarding exporting which are all different in different countries. So do your research first and make sure that you have all the necessary paperwork in order to do business internationally.

Today the vast majority of businesses use the internet to drive more customers towards them and to implement certain marketing initiatives. This can be done in a variety of ways from PPC (Pay Per Click) advertising on websites and search engines, email campaigns, websites from which customers can place orders and more. Since having an online presence can make a great deal of difference to the success of a business it is no wonder that online growth is a massive concern. So how do you finance your business for growth online?

There are various ways in which this can be done such as:-

1. Put together a business plan which is focused on online growth for your business. This needs to be concise and clearly define which methods your business will be using to enable it to successfully grow. Then make sure that you present this plan to the right people so that you secure as much financial backing as possible for your business.

2. Take out a business loan – if your business is doing well there is no reason why you should not apply for a business loan. Once again make it clear what you will be using the loan for so that your lender sees your loan as a viable option.

3. Pull in any outstanding debts – this may seem like a strange approach but you would be surprised about the amount of outstanding third party debt that many businesses have. Spend some time finding out how much is owed to you and make inroads into getting it back. You might find that you have enough money to finance your businesses online growth sitting in unpaid invoices to finance your growth online.

4. Consider shares – would people be interested in buying shares in your business? If so why not float some shares and see if you can raise the finance this way, you must be able to convince people that becoming a shareholder in your business would benefit them so make sure you put forward a good case to invest.

5. Equity – do you have equity in your business that you could use? If so use it to finance online growth and see what a difference it could make.

6. Partnerships – could you go into partnership with another business that could help you with your financing? Many business find that this option is the perfect way to gain both an online presence and a solid partnership.

Using such methods can help your business to finance its online growth which could in turn create the kind of profits that previously were out of reach. Online sales and marketing are a huge section of the market and if you are not branching out into these areas you are selling your business short and missing out on an increase in revenue in the process. So look into the various methods of financing your business for online growth and you might find that it is easier than you anticipated.

Any business today that wants to maintain an online presence needs to be proactive and take certain steps to maximise this presence. Whilst it is easy to be online during office hours or at home on a PC it is difficult to keep this up when you do not have access to a PC and internet connection. This leads to gaps in availability and could result in vital business being lost due to not having the facility to check emails, update a blog, respond to customer queries, check orders and so on.

Mobile technology providers have recognised this need to be connected to the office, albeit virtually, and have designed something to enable business owners and individuals to be able to access the internet and make phone calls all from one device – the Smartphone. Smartphones are mobile phones which offer advanced features which are likened to that of a PC. For example certain Smartphones enable the user to add additional applications that will allow them to perform certain functions such as data processing. In addition to this there is full internet access, email capabilities, PDF readers, media software and even the ability to access secure networks such as company emails. Smartphones are also designed in such a way that they also incorporate a mini QWERTY keyboard so that writing emails is made easier and they sometimes have a touch screen or D-Pad.

When you are choosing a Smartphone you must first decide what features you would like it to have, for example if you only need one to be able to access and reply to business emails you should opt for one with these features as standard. If you are looking for something that is a little more advanced and that is able to support more features choose one that allows third party applications to be added to it such the Blackberry. All Smartphones run on their own operating system so check which applications they allow before deciding on one. Microsoft Smartphones for instance will allow all Microsoft applications to run on them but will not support all third party applications which can cause problems if you work on a particular application in the office and need access to this regularly.

Another advantage of using a Smartphone is that unlike a traditional mobile phone which limits the number of contacts that can be stored in it, the only limit with a Smartphone is its memory, so you can add contacts on the move and then transfer details to your PC when you are back in the office. If you are in a business where contacts are important choose a Smartphone with a large memory so that your contact list is not limited.

So to ensure that you get a Smartphone that is right to maximise your presence online do your homework and find out what features you need. Then you can check the market and see which Smartphone best suits your needs and go ahead and get connected.

There are always more things to do than time, so you need to prioritise your workload to ensure you are focusing on the correct things.  Some things to think of are:-

Customer Knowledge & Understanding

Update any missing data on customer records to fill in the gaps and provide them with a better service when you contact them. Often vital information is not recorded by businesses and this can be their downfall. For instance what happens if customer X is not contactable on certain days of the week and they have informed you of this, yet these are the days when one of your sales reps is trying to contact them? The answer is the customer gets frustrated at the number of missed calls they have regularly had from your reps even though they know they have informed you of their unavailability. This in turn makes the customer believe that you and your business do not listen to their needs and this will lead to lost custom. It is always vitally important to record such details even if they seem irrelevant at the time as it will lead to increase customer loyalty. S3 CRM also gives you the opportunity to add pictures of customers and employees to their records so that you will never forget a face again.

Workload & Office Productivity

See at a glance who is the user with the most outstanding tasks, if you spot someone who appears to be overloaded with work and has several deadlines approaching you can divert extra users to help out. This will prevent any missed deadlines and customer dissatisfaction, something that should be avoided at all times.

Employee Overview

With the fully integrated, business wide calendar you can easily see who has booked holidays and when, meaning that you can schedule meetings and launches when you have the maximum number of employees in work.

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Dean

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