MANAGING in the

NEW WORLD

Sustaining an existing customer by servicing him / her is usually a much bigger challenge than generating new ones. Similarly it is important for sales teams to encourage customers to spend more on their visits rather than expecting repeat visits. Some ways have been suggested by a business consultingpublication. Customers must be induced by describing the compounded value proposition and how costs increase with each visit, thus maximum must be made of the existing visit. It is also more convenient. Incentives must be offered for shopping more at the same time. While too many choices can empower customers, a combination of maximum offers in a package can induce them to actually purchase and thus try them all out. The ego of customers must be targeted to boost sales of high value branded products. The concept of reciprocation must be tried out where stores that give away more freebies are seen with affection by customers who then reciprocate by purchasing from them. Scarcity induces urgency among people to buy. Thus time and stock scarce offers are advertised especially using email and digital marketing. Crucially, social proof via tweets, reviews, blog mentions etc. have become cornerstone in marketing and thus sellers are increasingly attaching their brands to this phenomena.

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