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Showing posts with the label customer base

New Customers vs Returning Customers

Many businesses do not know about their customer base, they will just keep on relying on new marketing tools to attract new customers. This may sound odd, but my belief and emphasis have always been on understanding my customer base so that I will be able to grow and retain them. The idea behind this is that, getting new customers is difficult, so it’s important to retain the ones I have, establishing a relationship with them while I continually look for new potential customers. Let me share with you why you should get started to work on your customer base too! Profitability of existing customers The process usually begins with knowing who your customers are, which eventually helps to improve their customer satisfaction, and in turn your products are being sold more to your existing customers. Statistics have even shown that the probability of selling to an existing customer is 60%, which is much higher than to a new customer reported at 5%! Note that this profitability is not ...

Traditional vs Modern lucky draw: A brief comparison

How do businesses have their lucky draws being held before the rise of digital era? In the early days, almost all the businesses carried out their lucky draws using bits of rough resources. It’s even not surprising to us that some convenient stores are still using paper-and-box style to conduct their lucky draw contests. However, to promote services abroad to a higher efficiency, we recommend using a new modern approach in the welcoming of digital era. This article hopes to bring out its benefits by comparing the two. 1. Traditional lucky draw uses more resources Traditional lucky draws usually involve physical involvement from the participants, in which they bury their hands in a sea of lucky draw lots inside a ‘Mystery Box’. This is rather exciting, but it eats up a lot of resources from the organizer’s party. Tons of papers, cardboards, boxes…… whatever you can think of, it’s a potential waste of materials. Plus, it’s rather a one-time usage. You do not know when is the next...