Encouraging existing customers to make more purchases.

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In this context, the marketing component of the strategy should be considered. Marketing is aimed at attracting new customers. At the same time, from the standpoint of business development strategy, it is important to determine the company's target audience and clarify whether consumers from this segment are capable of making purchases again. In addition, it is necessary to understand whether the business itself is interested in repeat transactions, since a number of areas do not imply such operations.

The next step is to answer another important list of lebanon cell phone numbers question: can the enterprise attract the target audience and what costs are required to attract each target client. The answer can be formed in the form of hypotheses.

Then your assumptions need to be tested in practice. To do this, analyze expenses and calculate the average cost of attracting each client. You can use the following formula: the amount spent on marketing activities is divided by the number of customers received.

For example, in the restaurant business, the rental of premises should be included in marketing costs, since the number of customers depends on its location. Here you can determine the cost of attracting visitors to establishments located in different locations.

Let's sum it up: we need to get answers to two key questions:

Who is the most desirable client for the company?

How does a business attract or will it attract such customers?

A number of marketing researchers believe that it can cost up to ten times more to mobilize a new customer than to retain one. It turns out that, from an economic point of view, loyal customers who buy again are more useful for a business.

Differences in development strategy for small businesses

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Next, we should consider a set of indicators that relate to the profitability of the business. Profit is income minus expenses and tax payments. Thus, for the success of a business, not only the amount of all receipts is important, but also the effectiveness of cost management. The funds spent on attracting customers are variable costs. At the same time, a business also has fixed costs, which also need to be managed correctly.

It may seem that developing a strategy for a small business is easier, since there are fewer owners, managers and finances. The problem is often that in small companies the owner also acts as the board of directors, manager, etc.

Concentration of management functions in one person leads to subjectivity in decision-making. Not every owner is an outstanding businessman.

The situation when one person is the decision-making center is associated with various risks. Such a person cannot objectively see the whole picture, which is very important for business development.

Real experience shows that owners who have managed to achieve some success and take the company to a new level have formed their vision, but it no longer works on large-scale projects. Such entrepreneurs are not ready for new conditions. The methods that ensure success at the initial stage of the business may not work after its expansion.

What can a company owner do in such a situation? There are two options. In the first case, the entrepreneur needs to improve his management skills. In the second case, he needs to hire a qualified top manager.

It will not only help in developing the business at a new stage, but will also teach many useful things that are necessary at this level. To develop an effective strategy for the company's progress, it is important to have a deep understanding of its position, the ability to analyze the current and planned state of affairs.