Category Archives: Blogging

Blogging

3 effective strategies to increase the profitability of your business

People love to talk about income. The numbers are impressive and easy to focus on. But when was the last time you heard someone brag about increasing their profit margins or improving their business efficiency

But remember that it does not matter how much you earn, but how much you are able to retain and how you decide to use it. Here are three highly effective and, not too obvious, strategies to improve the profitable growth of your business.

Increase your prices
Rising prices can be a scary prospect. As entrepreneurs, we assume that customers will abandon us, sales will dry up, and our business will collapse. But, we tend to exaggerate consequences and underestimate benefits. Especially if you resell an existing product in your ecommerce store, a small increase (even 10%) can work miracles.

When implementing this strategy, keep the following in mind: Make sure to test different price levels. Although raising prices is usually very effective, you must confirm it for your market or business. If you have a large catalog, modifying the prices of thousands of products can be a difficult task. Start by changing prices only on the best-selling products.

This strategy is based on sustaining a unique selling proposition and offering value to your customers. The more price sensitive your customers are, the less effective the strategy will be. If you don’t have a unique proposal, you need to implement one.

Don’t get obsessed with earnings per order
Many companies are unwilling to lose money on an order, even if it means ending their relationship with an unhappy or upset customer. You may have had a similar experience.

This approach doesn’t pay off in the long run, and it’s a terrible way to do business in today’s highly social and connected world. If you don’t consistently spend money on orders to quickly and proactively resolve customer issues, you’re missing out on the opportunity to improve your bottom line.

Scores of customers are so used to mediocre service that when a company strives to proactively resolve their problems without charging them, they are surprised. In addition to the lifetime value of the shocked customer, you’ll receive valuable referral marketing and impossible-to-buy referrals.

If you’re running an ecommerce store, here are four ways you can invest in the future of your business and ultimately your long-term bottom line:
Did something cheap break? Send customers a free replacement right away, no hassle with the return.
If they’re looking to return an expensive item, send them a replacement as soon as they send the return tracking confirmation, rather than waiting until it reaches your warehouse.
If an old customer needs something ASAP, send it free as soon as possible (the next day).
If a customer is not satisfied with a purchase, it proactively issues a partial refund to make up for their disappointment.
Reconsider offering phone support
Would you be willing to cut your workload by 50% if it only meant giving up 15% of your business? Maybe you should! While telephone support is a rarity among many online businesses, it seems that a disproportionate number of e-businesses still see it as indispensable, even if it is not.

After the previous section, this might seem counterintuitive. But great customer service doesn’t mean you should be everything to anyone. It simply means that you take exceptional care of the clients with whom you have chosen to do business. Depending on the product and your market offering, phone sales support may or may not be convenient.

Try to measure the impact of the possible removal of your phone number on conversions. You will probably be surprised that the vast majority of people decide to order online. If you want to offer a sales line, try to make it visible in strategic places such as on the “Contact us” page or in the shopping cart, where only qualified potential customers will locate it.

If you choose to reduce phone support, be sure to:

Be honest with customers and let them know why you don’t include a phone number. Make it clear that you prefer to invest in a quality website and excellent service for existing customers.
Try to have a highly detailed and informative website so that you answer customer questions.
Incorporates quality support by corre or email if customers can’t easily reach you by phone. Using a help desk (such as desk.com or helpjuice) will make your correspondence top-notch and requests won’t go unanswered.
Also, don’t completely discard the phone. If a customer needs to make a callback, or needs to solve problems that require personal attention, you will almost be forced to use it.

Changes are always scary, and you may be reluctant to implement the suggestions for fear of what might happen to your business. But by experimenting with these ideas, the changes will surely go unnoticed by most customers, especially new ones. If, in that case, they are not beneficial, you can always go back to your previous policies and prices.

Blogging

6 keys to increasing the profitability of your client portfolio

Your company today is wasting much of the potential of your customer base. Your client base could generate you much higher income. This is a reality for practically all companies. Why is this happening? Simple: companies tend to focus their management on the sale of their products (goods or services) without paying attention to how much more profitable their customers could be.

Precisely, to help companies make their client portfolio profitable, Pablo Fernández developed the 6R model, a profitable growth strategy implemented in a large number of companies of various sectors in different countries.

The 6r’s of marketing
Each of the “Rs” represents an aspect of your relationship with your customers. By analyzing your company from the perspective of each of these, you will detect opportunities that are latent in your business today. Let’s see what they are:

Relationship
Like products, customer relationships can be designed. We must go from “spontaneous” relationships (in which the customer comes to buy what they want, when they want), to “managed” relationships, where the company seeks that its customers go along a path of preset growth.

Retention
Every client represents an income stream that develops over time. The longer it lasts, the greater the portion of that income the business will earn. In fact, the average income generated by clients increases with each year of relationship. This makes the profitability of companies more dependent on their ability to retain than to attract customers.

Profitability
Every customer could be more profitable than it is and it is the responsibility of the company (not the customer) to achieve this. Customer profitability can be increased by increasing their activity, or by proper price management. It can also be increased by managing the costs of care. An interesting chapter is represented by unprofitable clients. In this sense, it must be remembered that it is easier to make a current customer profitable than to attract a new one.

EVERY CUSTOMER COULD BE MORE PROFITABLE THAN IT IS AND IT IS THE RESPONSIBILITY OF THE COMPANY (NOT THE CUSTOMER) TO ACHIEVE IT.

Referencing
Personal referrals represent the most important source of new clients for companies and are free. Therefore, we suggest companies include referral promotion actions within their communication mix.

Recovery
Customers do not abandon companies because of mistakes, but because of the lack of response after them. Therefore, effective follow-up action can help retain a customer and the revenue stream that customer represents. This is often called “service recovery.” The company must anticipate its responses to the most frequent problems and not leave them to chance.

CUSTOMERS DO NOT LEAVE COMPANIES DUE TO ERRORS, BUT DUE TO THE LACK OF RESPONSE AFTER THEM.

Reactivation
It is easier and cheaper to reactivate a relationship with a former client than to generate a new client. Therefore, actions must be taken that systematically allow to reactivate the relationship with those clients who fall into inactivity.

Your company will surely find significant growth opportunities in each of the “Rs,” as many companies in Latin America have done.

Blogging

Best spots in the world for Instagram photos

The world is filled with beautiful places. As this is the era of Instagram, therefore, more and more people are looking best photographs to post on Instagram. Whether you are walking in the streets of Turkey, about to get the flights to Puerto Vallarta, or enjoying your day on a beach, you always want to capture your moment to post them. Even, more and more people at the present time are looking for the best places to visit for the best Instagram photos. We have brought some incredible places for you here which you must explore to get the best photographed.

Best places to visit for Instagram photos in the world

Here are some of the most exciting and amazing places which you must visit for incredible photographs:

Hierve El Agua, Mexico

This is an amazing place and can be the best to visit for multiple reasons. However, one of the most important ones is its mineral formations, cliff-side pools, and petrified waterfall. As this place is located at the top of a mountain, therefore, it can provide breathtaking views of the surrounding. However, its colorful mineral formation and unique views can make it best to be photographed.

 

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Una publicación compartida por Vanja Karas (@vanjakaras) el

 

Istiklal Street Istanbul, Turkey

This is a major pedestrian street in Istanbul. Here you can experience the most incredible experience because East and West are mixed here to create a unique atmosphere. Stores and cafes here, are built in European style while oriental flavor truly mantles the street. Even the more, Istiklal has its own type of beauty. Although flooded with the tourist but still can let you capture the beauty of Turkey and its own version of charming aura.

 

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Una publicación compartida por Mustafa Seven (@mustafaseven) el

 

Salar de Uyuni salt flats, Bolivia

For the fans of breathtaking and surreal images, this place can be a perfect wonder to visit. It is actually a dried lake of the desert which contains a thin water layer in the wet climates. However, evaporation of that water layer in hot climates will cover the ground with a solid salt and minerals layer. Well, this is the largest salt flat in the world which has stretched to more than 4000 square miles. Therefore this amazing place will also let you capture perfect wider Instagram shots too. even, amazing reflection can also help you to add inspiring optical illusion in your photos.

Reed Flute Cave, China

If you are the one who wants to fill your Instagram with the most colorful pictures then you must head to Reed Flute Cave in China. This mesmerizing place is also known as the Palace of Natural Arts. However, at this amazing place, you are sure to get the most appealing yet colorful Instagram clicks with ease.

Whether you are going to take flights to Puerto Vallarta, China or Turkey, every place has something unique to offer you which is ultimately going to give you the best Instagram photos. Just plan your trip and enjoy some incredible moments.

Blogging

Surprising historical facts about Mexico

Mexico is no doubt one of the most popular places to visit in the whole world but there are also lots of interesting facts about Mexico from which most of the people are unaware. These facts have to connect with its tourism or adventures, while these facts portrait the history and amazement of this city.

So, here are some of the historical facts about Mexico that you should know.

1.    Yucatan was Named After a Misunderstanding

Yucatan is one of the most popular places to visit in Mexico. Lots of people visit this place from all around the world but no one ever thought about its name. There is an interesting history about the name of Yucatan. In past times, when Spaniards came to this place, they asked people about the name of this place. people replied to them saying “Yucatan”, which means, “I don’t know”. This was the actual meaning of this word or phrase in the local’s language, but Spaniards considered that they are telling them the name of this place, and in this way, this place was used to called “Yucatan”.

Yucatan landscape

2.    Chichen Itza is One of the Seven Wonder of the World

Another one of the interesting facts about Mexico is that Chichen Itza is one of the seven wonders of the world. It is a kind of pyramid that was a part of the Mayan Empire, but in 2007, it was announced as the seven wonders of the world. It is quite a famous place to visit in Mexico. There are lots of people, especially archaeologists visit this place from all around the world. Additionally, you can easily get to this place by booking cheap flights to Mexico from any of your nearest airports.

3.    Color TV was Invented in Mexico

Almost every person knows that the first television was black and white and it was invented by John Logie Baird, but there are very few people that are known about the fact that the first color television was invented in Mexico. A person named Guillermo Gonzalez Camarena was the first man in Mexico who was the inventor of chromoscopic adaptor that is further used in televisions to offer color transmissions.

Old television

Well, above has described some of the surprising historical facts about Mexico. consider all of these facts and make sure to book any of the cheap flights to Mexico in the off-season and explore all of these amazing and adventurous spots.