3 Common Fatal Mistakes that Kill Businesses


According to a recent study by the American Marketing Association, 3% of any business’s ideal customers is ready to buy. The remaining 97% have other issues that I will explain in my next article. In this article, I will explain the 3 common fatal mistakes that kill businesses.

  1. Based on the proceeding, most businesses strategize and focus all their attention on the 3% of their ideal customers, who are ready to buy. Focusing on this percentage of your ideal customers creates a fatal competitive environment that could cost you time, and especially money. Competing for the 3% is the most common reason for price wars—which consequently creates profit losses.Un healthy competition
  2. The inability to communicate and connect to the ideal customer.

Most business owners have a perfect product, service or idea, but lack the skills to communicate in a way that will captivate their customer’s attention. Communicating in a captivating manner is a skill that requires expertise and focus to master.Poor communication

  1. Procrastination and low inner drive to take action will kill any business.Procrastination

The dilemma is to find the perfect solutions to either avoid, or resolve the above fatal mistakes.

The book – Communicating Your Way to Success: Master the Art of Persuasion, Positively Influence Others, Increase Sales, and Stand Out in the Crowd, goes into depth in explaining practical processes to connect to the ideal customer. Furthermore, the author offers interactive simplified processes of how to identify the ideal customer, and especially how to use mind triggers to communicate and turn more leads into loyal customers.

Get your copy today from any of these links:

Paper back – http://www.amazon.com/Communicating-Your-Way-Success-Persuasion/dp/1515179087/

Kindle – http://www.amazon.com/Communicating-Your-Way-Success-Persuasion-ebook/dp/B0151Y8CCM/

Website – www.tapthegood.com/books/

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Love and light

Dr. Jacinta Mpalyenkana, Ph.D, MBA

Author, Success Coach, Counselor

http://www.tapthegood.com

 

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A Client Lost is Money Trashed! Four Steps to Build Customer Loyalty:


Building customer loyalty is not a cup of tea. It’s built over time and happens by giving consistent and quality attention to your clients.

When you think of the cost of acquiring a new customer, then keeping those you have is very important.

In the contemporary world, business owners treat their customers like prostitutes. Once they make the sale, the relationship ends.  They don’t follow up to establish how the customers are enjoying the product or service. They neither address complaints efficiently nor initiate open dialogs to establish why a client is not showing up or buying from them anymore.

When we lose one client, we lose all the other connections that he/she could have referred to our businesses. It’s like losing a clan or village: which is why we shouldn’t take things for granted.

And I envisage that some businesses are too big to personalize follow-ups to individual customers. But that shouldn’t be an excuse. Technology has made things easy. There are mobile apps, and email techniques that customer relationships’ managers can easily and timely use to stay in touch with all their customers.

Below are a few tips that I have personally employed to build a strong customer loyalty base. Please note that these tips will work best for small businesses.

  1. At the end of every client’s meeting, use these words: “Is there anything else I can do for you?”

  2. Have multiple ideas for building client loyalty through phone calls, e-mail, and postal mail. For instance;

    i) Keeping birthdays and offering coupons or free services to help your client celebrate his or her big day.

    ii) Offering simple “how to” tips, just like this article, to stay connected and engaged with your clients.

  3. Know how to approach a neglected client to regain their trust and keep their business. This implies following up and dropping your ego to find out and apologize for the part you played if relevant when you realize that your client isn’t happy with your service or product.

  4. Begin a study of other companies that have loyal clients and incorporate some of their strategies into your business.

In a nutshell: develop a smooth and open communication platform; build credibility, and remove your own mental-shoes in order to wear and really feel the temperature in your clients’ mental-shoes. 🙂

If you want to get more personal about your sales success strategies, please contact me at author@tapthegood.com to take advantage of the complimentary 30 minutes success coaching session.

Remember, nothing happens if nothing moves. 🙂

Love and light

Dr. Jacinta Mpalyenkana, Ph.D, MBA

Author, Speaker, & Success Coach

http://www.tapthegood.com