5 Ways to Retain Customers & Increase Sales

There are several reasons your existing customers are your business’ most valuable asset. Increased profits from sales Increased profits from reduced operating costs Increased profits from referrals Not only is it 3-5 times cheaper to keep a customer than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied customers also help your business to grow through referrals to friends and family. To look at it another way, if your business is gaining 10% new customers annually, but losing 10% of existing customers annually, your company is not growing. Imagine if your company reduced your customer defection rate by 5%; your business would be growing at a rate of 5% every year. Not only that but your sales and marketing expenditure would be reduced. How do you take care of your most valuable asset, your customers? Here are 5 proven …

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Which Employee Benefits Do Workers Value Most?

An improving economy has made the talent market heat up, and organizations are finding they need to look for new ways to recruit and retain high-performing employees. One of the tools many organizations use to attract high-talent candidates and hold onto their top performers is a strong benefits package. While different employees have different preferences and needs, there are some trends worth noting when it comes to the benefits employees value. This white paper will look at benefits employees tend to value most, and examine how organizations can use benefits to improve their recruiting and retention efforts. Health Insurance One of the most valued employee benefits is health insurance. “Employees value health insurance, dental and vision the most,” says Nicole Wright of Entrepreneurs Loft. Research backs that up. According to a Towers Watson survey, 46 percent of respondents said health care benefits are an important reason for deciding to work …

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Things All Financial Advisors Should Keep In Mind

Money management can seem pretty straightforward — customers set goals, and financial advisors help them meet those goals. But things aren’t always so simple. Emotions, family situations and the client’s financial standing can pose challenges for financial advisors if they’re not prepared. “Every individual is unique, and makes decisions about investing and wealth management influenced by their emotional makeup,” says wealth management adviser Chris White. “Financial advisors need to understand the emotional factors that drive their clients’ behavior, and their attitudes about risk-taking and money management. If they do, they will be better able to fashion wealth management plans that are suited to an individual client’s personality, temperament and risk-tolerance.” Here are some things to keep in mind. Plan for a Solo Life, as Well as Marriage Married couples who start financial planning generally don’t give any consideration to the chance of divorce, even as a remote contingency, says registered …

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Mandatory Retirement: What You Need to Know

Retirement means different things to different people. For some it might mean a complete release from any work responsibilities or requirements and the start of a life of leisure. For others it may be more of a side-step into work they’ve always wanted to do, or the chance to start a business. But retirement comes when the worker wants to stop working, with exceptions made for pilots, air traffic controllers and, in some states, judges. Other employees aren’t told when to stop. “All U.S. employers with at least 20 employees are prohibited from taking adverse employment action based on age against most employees 40 years older or older,” says labor and employment lawyer Scott Horton. “In many states, age discrimination laws cover even more employers and employees. These laws essentially make it illegal to have a mandatory retirement age, even if someone could make a good business case.” Here’s what …

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