Identifying and satisfying customer needs is the best approach for your brand to boost its profitability. It may feel great when you have an amazing idea for a product. Perhaps you may have even spent some time nurturing your idea and refining it and you are certain it’s going to be a hit. If you…
More than 90% of companies have some sort of loyalty program. All your big brands- Starbucks, Amazon, Sephora, Walmart have one. Even small businesses now implement some form of a loyalty program. Your local spa probably has a point collection system. Why? Because they bring you good business. They encourage your customers to come back to you…
33% of customers will choose your competitors over you — if they experience even one instance of bad service. What makes one business’ service better than the other? How can you create that impression? And what can make the service you render to your target audience irrelevant? The clear answer is that every business handles different…
Being able to increase revenue in a small business is one of those golden tickets that business owners love to hear, am I right? Running a business is hard work! While you’re probably not in it entirely just for the money, you probably know it’s not something you can ignore. And hey, if you were…
In 2020, Ben and Jerry’s brand loyalty rose by 20%. That’s an impressive rise, especially in a year where most brands suffered. It’s especially impressive when you consider the number of premium ice cream competitors on the market. Ben and Jerry’s is a different kind of company. Spend a minute or two looking at their…
All over the world people scream for ice cream. Ice cream’s a booming market, one that’s expected to reach $89 billion in 2022. New Zealanders indulge the most—about 7.5 gallons per capita per year. Americans eat an average of 5.5 gallons. Fan-favorite Haagen-Dazs entered the market in 1960 with just three flavors: vanilla, chocolate and…
Avoid the banana peel of common loyalty program pitfalls Harvard Business Review says that businesses find it 5 to 25 times harder to get a new customer than to keep an existing one. Another research from consulting giants, Bain & Company supports the HBR findings. It argues that retaining just 5% of your customer base can increase profits by…
Why are you running your own business? When we talk to our retailers, we find that practically all of them are in their line of work for more than just financial reasons. Several of them even quit high-paying jobs to do what they’re doing. They want to make a difference to the lives of their customers, however…