Business

Actionable Ways Every Startup Can Use to Retain Customers

Published

4 years ago

July 5, 2021

Customers are the backbone of every business, including startups. That being said, most startups often focus on attracting new customers and converting leads by launching different types of marketing strategies. That strategy applies to online media like LinkedIn too. Therefore read EarthWeb’s Meet Alfred review and see all the growth service features here.

While it’s crucial to keep up the lead number day by day, retaining old customers moreover using customer onboarding videos is, in fact, beneficial in the long term. The existing customers, especially, are vital in making 55-70% of sales compared to new clients. What’s more, over 68% of startup sales come from existing customers.

Those staggering numbers perfectly show how past customers are paramount for a startup to build a large, reliable customer base.

However, a study cites that companies lost around 20% of customers each year due to a lack of brand-client relationship. This results in wasted marketing resources used to convert them. In the long term, this lead acquiring strategy won’t be that effective when you simultaneously lose customers right away.

Why do customers leave?

So, what makes existing customers leave your business? To answer this question, let’s take a look at some factors that initiate them to choose other brands.

Brands don’t care anymore

This is one of the reasons why people run away from your brand. Customers are used to getting ‘some treatment’ when they purchase your product or leave a great review about you. They are willing to promote your product to their closest one because simply they find it valuable and satisfying.

If you pay attention to these customers, they will feel more appreciated. Eventually, your customers become loyal and will go back to you when they need your service.

At the same time, customers may file a complaint about your product that they find upsetting. When you ignore this feedback, customers will see you as ignorant and not care about them anymore.

Dissatisfied with your customer service

Customer service is the heart of your business. The old adage which says that ‘customers is king’ is still relevant and should be deliberately met to increase their business experience with you.

Making sure to serve the best for every customer is vital to improve your startups in the future. When customers don’t find your customer service helpful, they can be easily upset and leave you for your competitors.

Five methods startups can retain customers effectively

Getting new leads and conversions is essential for the business’ sustainability. However, make sure to take care of your past customers before they move on to your competitors. The following are the top five methods you can try to retain customers.

1. Listen to your customers

Customer reviews and feedback are a great source to know whether a business needs improvement. Their voices are often honest and constructive to take into account.

Listening to their feedback will help you understand how well your marketing strategies are performing. You can learn many things to elevate your business from your customers’ perspective, especially for a startup that requires extra room for improvement.

You will learn more from your customers than anyone else. Their reviews allow you to notice what areas that need improvements and what areas you just nailed them right.

Suppose many customers complain about ruined packaging. In that case, it’s time for you to check the supply chain and packaging department whether there’s something wrong with the delivery or the materials.

2. Deliver their complaints faster

Listening to customers’ complaints is actually a powerful way to gather enough business-important information. It allows you to understand how your customers really feel about the product or service you deliver.

However, what matters the most is the action right after you receive that feedback. It’ll be better if you can reach out to them directly using a call center, not via social media comments.

Realizing the issue is critical for you to increase credibility. When you solve an issue faster, customers will trust your brand as they can easily ask you whenever they run into problems.

3. Personalize your messages

One way to strengthen your relationship with customers is by making a personal approach in a business sense. For example, you can send personalized marketing emails using your customers’ first names instead of a plain, overused ‘Sir/Madam’ template.

Using the personalized message on your site or social media can significantly improve your bond with the customers. You can also include engaging content like explainer videos or even GIFs and memes to hook their attention.

When you succeed in attracting customers, sending promotional information becomes seamless. You don’t need to worry about driving away customers when you have a friendly relationship with them.

4. Offer incentives

Another way to retain customers is by offering incentives for a period of time. Well, who doesn’t love discounts or even free items? Create a specific sales page on your website and direct your customers to it.

You can manage a huge offer when it comes to big events, like Valentines and Halloween. You can also incorporate a particular strategy to attract past customers as well as potential customers with interesting offers. That way, even old customers can’t resist joining your incentives programs.

If you have an offline store, you can use things like QR code and ask your customers to scan it, so they can see your special offers.

5. Use email automation to re-engage customers

When customers are inactive for some time, you need to build communication with them. Surely, you don’t want to lose past customers because of a lack of brand interaction.

To make sure they don’t go to other competitors, send them email automation to attract them into your brand. You can send an email that says ‘you miss them on your platform’ and give them an invitation code that leads to a discounted product.

With email automation, you can also increase your relationship with your customers effectively. Promotional emails and newsletters are some of the most effective ways to engage with customers.

Takeaway

Lead conversion is essential for every business, especially in a startup where customers are the biggest assets. However, many have failed to care about existing customers as they focus on acquiring new ones instead.

Loyal customers have made up over half of the business sales. When you lose these clients, you practically lose the majority of your sales and waste so much money in converting new customers. Therefore, it’s essential to retain old customers for your startup sustainability.

Author

Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).

Twitter: @breadnbeyond

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/andreoentoro/

Business

Smart Labeling: How Direct Thermal Labels and Thermal Label Stickers Improve Efficiency

Published

1 month ago

February 21, 2025

sylvia J

In a world where organization and efficiency are key, the right labeling solution can make all the difference. Whether you’re running a business, managing a warehouse, or simply trying to keep things in order at home, labels play a crucial role in streamlining workflows. Direct thermal labels and thermal label stickers have revolutionized the way we label, making it easier, faster, and more cost-effective.

What Are Direct Thermal Labels?

Direct thermal labels are a type of label that uses heat-sensitive material to produce a printed image without the need for ink, toner, or ribbons. Instead, a thermal printhead applies heat to specific areas, causing the paper to darken and create a clear, legible print.

Why Businesses Love Direct Thermal Labels

No Ink or Toner Needed:Saves on ongoing costs associated with printing.
Fast Printing:Ideal for businesses that require bulk label production.
Eco-Friendly:Reduces waste by eliminating ink cartridges and toners.
Smudge-Free Printing:Produces clear, long-lasting labels that resist fading.
Minimal Maintenance:With fewer moving parts, thermal printers last longer and require less upkeep.

Where Are Direct Thermal Labels Used?

These labels have widespread applications across various industries, including:

Shipping & Logistics:Essential for barcode labels and shipping information.
Retail & Sales:Used for price tags and product barcodes.
Healthcare & Medical Fields:Helps with patient identification and medication labeling.
Food & Beverage Industry:Ideal for labeling perishable goods with expiration dates.
Inventory & Warehousing:Keeps stock organized and trackable with barcode labeling.

The Versatility of Thermal Label Stickers

Thermal label stickers function similarly to direct thermal labels but are available in a variety of pre-cut shapes, adhesives, and materials to suit different needs. They provide a reliable labeling solution for both businesses and personal use.

Where Thermal Label Stickers Shine

Small Business & E-Commerce:
- Enhances branding with custom packaging stickers.
- Helps track shipments with shipping and return labels.
Home & Office Organization:
- Great for labeling storage boxes, files, and household items.
- Makes pantry organization easy with clear food labels.
Retail & Product Labeling:
- Perfect for price tags, ingredient labels, and product barcodes.
- Improves shelf organization and product visibility.
Event Planning & Customization:
- Custom stickers for weddings, parties, and corporate events.
- Personalized labels for giveaways and promotional items.

Choosing the Right Labels for Your Needs

Selecting the best labeling solution depends on your specific requirements:

Bulk vs. Custom Printing:If you need to print high volumes, direct thermal labels are a cost-effective option. For unique designs, thermal label stickers offer better customization.
Durability Requirements:Direct thermal labels are best for short-term use, while thermal label stickers with stronger adhesives work for long-term applications.
Budget Considerations:Both options eliminate ink costs, but direct thermal labels tend to be the most economical choice for high-volume needs.

The Future of Labeling

As businesses continue to move toward automation and digital tracking, direct thermal labels and thermal label stickers are expected to play an even bigger role. Their convenience, sustainability, and affordability make them the preferred choice for businesses and individuals alike.

Final Thoughts

Labels may seem like a small detail, but they have a significant impact on efficiency, organization, and branding. Direct thermal labels and thermal label stickers offer practical solutions for a variety of applications, from shipping and inventory management to home organization and creative projects. With their ink-free technology and ease of use, they provide an effortless way to stay organized while saving time and money. Whether for business or personal use, investing in the right labeling solution can transform the way you work and live.

Business

Transform Your Business with Expert Accounting Services

Published

3 months ago

December 18, 2024

sylvia J

Transform Your Business with Expert Accounting Services

Navigating the complexities of business finance can be challenging for any organization. With evolving regulations and the constant need for precise financial management, partnering with a professional accounting firm can make a significant difference. Businesses today seek more than just number-crunching; they need strategic advice, tailored solutions, and comprehensive support to thrive in a competitive landscape. This blog explores how a professional accounting service can elevate your business operations and ensure long-term success.

Streamlining Financial Operations

Effective financial management is crucial for the smooth operation of any business. An experienced accounting firm helps streamline your financial processes, from bookkeeping to payroll management. By ensuring accurate and timely financial records, you can make informed decisions that drive growth. Outsourcing these tasks allows your team to focus on core business activities, improving overall efficiency and productivity.

Strategic Tax Planning

Tax planning is an essential component of financial strategy. Expert accountants provide valuable insights and strategies to minimize tax liabilities while ensuring compliance with all regulations. With their knowledge of the latest tax laws and incentives, you can optimize your financial outcomes. This proactive approach to tax management not only saves money but also reduces the risk of audits and penalties.

Customized Financial Advice

Every business has unique financial needs and goals. Professional accountants offer personalized advice tailored to your specific situation. Whether you need guidance on cash flow management, investment opportunities, or financial forecasting, their expertise helps you navigate complex financial landscapes. This customized support empowers you to make strategic decisions that align with your business objectives.

Enhancing Business Growth

A key benefit of partnering with a professional accounting firm is the potential for business growth. With their strategic insights and comprehensive financial services, you can identify opportunities for expansion and improvement. From analyzing financial statements to advising on mergers and acquisitions, their support enables you to scale your business effectively. Access to reliable financial data and expert advice is crucial for making informed growth decisions.

Ensuring Compliance and Risk Management

Staying compliant with financial regulations is vital for any business. Professional accountants help ensure that your business adheres to all relevant laws and standards. They also assist in identifying and managing financial risks, safeguarding your business from potential threats. By maintaining compliance and implementing robust risk management practices, you can protect your business’s financial health and reputation.

For businesses seeking expert accounting services, JMF Associates offers a range of solutions tailored to your needs. Discover how they can support your financial goals and streamline your business operations.

Partnering with a professional accounting firm provides strategic advantages and peace of mind, enabling you to focus on what you do best—growing your business.

Business

Wealth Transfer and Estate Planning: Secure Your Legacy

Published

5 months ago

November 12, 2024

sylvia J

Wealth transfer and estate planning are essential for anyone who wants to protect their legacy and provide for future generations. Proper planning helps to ensure your assets are distributed according to your wishes while minimizing potential taxes and legal complications. Whether you’re just starting or revisiting your current plan, here’s a guide to wealth transfer and estate planning essentials.

Why Wealth Transfer and Estate Planning Matter

When it comes to your assets, a lack of planning can lead to unnecessary taxes, legal battles, and confusion for your loved ones. Estate planning ensures that what you’ve worked hard for is protected and goes where you intend. It covers everything from wills and trusts to gifting and tax reduction strategies, helping your loved ones avoid stress and financial challenges after you’re gone.

Key Components of Wealth Transfer and Estate Planning

Wills and Trusts

Will: A will is the cornerstone of most estate plans. It allows you to specify who will inherit your assets and property, name guardians for minor children, and appoint an executor to manage your estate’s distribution. However, a will goes through probate, a legal process that can be time-consuming and expensive.
Trusts: Trusts offer a more flexible way to distribute assets and often bypass the probate process. Options like revocable living trusts, irrevocable trusts, and family trusts can help you achieve specific goals, such as managing taxes or providing for a child with special needs. Trusts also offer greater privacy than wills, as they don’t become public records.

Beneficiary Designations

Assets like retirement accounts, life insurance policies, and payable-on-death bank accounts allow you to name beneficiaries. These assets typically transfer directly to your beneficiaries without going through probate. Regularly review these designations to ensure they align with your current intentions and family situation, as changes in relationships or life circumstances can affect your choices.

Power of Attorney and Healthcare Directives

A power of attorney (POA) grants someone authority to make financial and legal decisions on your behalf if you’re unable to. In addition, a healthcare directive, or living will, allows you to specify your medical treatment preferences and appoint someone to make healthcare decisions if you’re incapacitated. These documents ensure your wishes are respected during a medical emergency.

Gifting Strategies

Gifting assets during your lifetime can reduce the size of your taxable estate and transfer wealth in a controlled manner. Each year, you can gift up to a certain amount (currently $15,000 per person in the U.S.) without incurring gift taxes. Larger gifts can also be made using your lifetime gift tax exemption, though they may require careful planning to avoid tax consequences.

Estate Taxes and Tax Reduction Strategies

Estate taxes, sometimes called “death taxes,” can take a significant portion of an estate’s value. Federal estate taxes apply to estates over a certain threshold, which varies, but some states also have their own estate or inheritance taxes. Strategies like trusts, lifetime gifting, and charitable donations can reduce the taxable portion of your estate, preserving more wealth for your heirs. Learn more about estate taxes here https://retiretrunorth.com/our-media/.

Business Succession Planning

If you own a family business, succession planning is essential for ensuring a smooth transition of ownership and management. This might involve passing the business to family members, selling it, or setting up a trust to control ownership. Planning for succession early on allows you to identify successors, train them, and ensure your business continues according to your vision.

Wealth Transfer Tips for Protecting Your Legacy

Start Early: The earlier you begin planning, the more options you have. Early planning also allows you to adapt as tax laws and family situations change.
Communicate with Loved Ones: Let your heirs know about your plans, especially if you choose an unequal asset distribution. Clear communication helps prevent misunderstandings and family disputes later on.
Review Regularly: Life changes such as marriage, divorce, the birth of children or grandchildren, and significant increases in wealth all warrant a review of your estate plan. Ensure your documents reflect your current wishes and keep your beneficiaries up-to-date.
Seek Professional Help: An estate attorney or financial planner can help you navigate the legal and tax complexities of estate planning and suggest strategies to minimize taxes and maximize the benefits for your heirs.

Wealth Transfer Options to Consider

Charitable Trusts: Charitable remainder trusts (CRTs) or charitable lead trusts (CLTs) allow you to donate a portion of your estate to a charity while providing tax benefits. They can be structured to provide income to your heirs or yourself for a period, with the remaining assets going to the charity.
Generation-Skipping Trusts: A generation-skipping trust enables you to transfer wealth to grandchildren or even great-grandchildren, bypassing the estate taxes that might apply if assets pass from generation to generation.
Life Insurance Policies: A life insurance policy can be a simple way to provide liquid assets to your heirs, helping to cover estate taxes or supporting beneficiaries without tying up other estate assets.

Building a Lasting Legacy

Wealth transfer and estate planning aren’t only about financial security; they’re about creating a lasting legacy. Whether that means supporting your family, contributing to causes you care about, or preserving a family business, your estate plan ensures your values and vision continue after you’re gone.

Taking proactive steps now to plan your estate and wealth transfer ensures you’re ready to safeguard what matters most and lets you focus on what’s truly important: creating lasting memories and a meaningful impact with those you love.