August 23rd, 2010 by achi
Growing a business means increasing the number of customers or the amount of sales.
This can, for example, create new sales promotions, train staff, improve production processes, designing new products or redesign that we already have, offer extra services, etc.
But when it comes to growing a business, usually refers to a significant increase in customers or sales.
And the main ways of achieving this are: partner with other companies, serve new types of consumers, increase the points of sales, inroads into foreign markets, improve customer service and increase advertising.
The following is an explanation of each of these strategies:
Partnering with other companies
Partnering is to make alliances with other companies in order to provide benefits to both which, if not through an association, could not be obtained.
These partnerships might include, for example, in agreements to combine resources (e.g. financial, human, technological), combine functions (e.g., production processes, product distribution), information sharing (e.g., market) share distribution channels or outlets, or customers (for example, in the case that the two companies have different types of products, but similar types of clients, and this allows us to offer our products to their customers, and she, products to ours), etc..
The idea is to seek business partner of the same size as us, and with similar aspirations for growth that somehow, through an agreement, is capable of greater profitability for both, or a competitive advantage over other rival firms.
Address new types of consumers
Address new types of consumers means directing our products or services so that they are targeting different types of consumers we are already addressing, but without neglecting the latter.
For example, if our products or services are dedicated to persons of a particular age range and of a certain socioeconomic status, could also choose to target people in other age ranges and other socioeconomic levels.
This may be necessary to create new goods or services, or simply adapt the products we already have, so that may also meet the needs or desires of other types of consumers.
Increase sales points
Increase sales points are to increase the places where we can offer or sell our products to final consumers.
The idea of increasing sales points is to expand our market and reach consumers of the same type that we are treating, but are in locations that were not distributed our products.
To increase the points of sales, we open new stores, stores, branches or franchises, we can make use of new brokers or dealers, or we can create new sales channels such as the creation of a website where we offer and sell our products.
Search external markets
Export is a variation of the previous strategy, is to address new markets, but they are abroad.
We should seek to export contact with intermediaries abroad who want to distribute or sell our products, or look for customers who buy from us directly.
The easiest way to achieve this is by creating our website and promoting our products on the Internet, another way to start exporting is participating in international fairs.
But before that we must consider that the first condition for exporting is to have a good quality product.
Improve customer service
Provide good customer service is the most efficient way to grow a business. Is to provide good service, friendly staff, comply with treatment and promises to provide prompt attention, personalized service, etc.
This involves training all our staff, especially one who has to interact constantly with the client.
Providing good customer service allows us to grow, as they not only get the customer to buy or visit again, but we recommend that our products or services to other consumers.
Increase advertising
Finally, another way to grow a business is increasing investment in advertising, for which you do not need to spend much money.
To increase the publicity we can, for example, make use of flyers, posters, brochures, cards, participate in fairs, create a web page and Internet advertising, give gifts to the printed name of our company, etc.
But keeping in mind that the best advertising is word of mouth, which is to create or provide a product or service of high quality, to the point that allows us to always be recommended by our customers.
August 9th, 2010 by achi
Michael Porter Generic Strategies is a set of competitive strategies that are intended principally to the overall development of a business.
These strategies proposed by Michael Porter looking to gain a competitive advantage for the company, either through cost leadership, differentiation or focus.
Cost leadership
This strategy involves selling products very low unit prices, through a reduction in costs.
Will reduce costs, for example, through the production of standard products through the production of large volumes, use of economies of scale, efficient use of raw material supplies, use of new technologies, costs and stringent controls overhead, creating a culture of cost reduction in employees, reduced costs in office sales, marketing and advertising, etc.
Through the strategy of cost leadership, the company seeks to gain greater market share and thus increase their sales and may even, by having lower prices than the competition, some competitors out of the market.
The cost leadership strategy is recommended for use in mass market when the market consists of consumers who are sensitive to prices when there is little chance of obtaining differences between the products, when consumers do not care to the differences between both marks.
The disadvantages of using this strategy are that could be imitated by competitors, or that the interests of consumers could turn to other characteristics of the product, not just price.
Differentiation
This strategy is to produce or sell a product that is unique and original, that manages to distinguish itself from competition and not easily imitable by it.
There may be differentiated, for example, in designing the product, its attributes or characteristics, in the brand, quality, service, or provide good customer service, to offer additional services, speed of delivery, etc.
Through differentiation strategy, the company seeks consumers’ preference; prices may rise, if they recognize the distinguishing features of the product.
The differentiation strategy is recommended when the market consists of consumers who are insensitive to prices.
The disadvantage of using this strategy is that the competition can sometimes copy the distinguishing features of the product, so to use this strategy; these distinguishing features should be easily copied by competition.
Approach
This strategy is to focus or concentrate attention on a specific market segment, i.e. concentrate on producing or selling products that meet the needs and tastes of a particular group of consumers.
The strategy seeks to focus the company specializes in a particular type of consumer and therefore achieve more efficient, for example, by offering products that meet their specific needs or preferences, or to design strategies that take advantage of its features.
The focus strategy is recommended when the market is wide, if consumers have different preferences or needs when no competitors are targeting the same market segment.
The disadvantage of using this strategy is that competitors can identify the advantages of the segment to which the company is going, and decide to imitate, that consumer preferences are directed to product characteristics desired by the market in general, that has made a bad segmentation, and be missing the opportunity to attend to other markets.
March 19th, 2009 by admin
If you are seeking for successful insurance lead prospects, your best bet is to go for insurance leads services that can deliver real value and most importantly, proven results. Several online lead generators can provide you with services of high quality such as instantly delivering the freshest possible leads either through text, email or the Web.
Good insurance leads services should be able facilitate a quality control software and control human intervention to assure that all information in their leads remains to be as accurate as possible. Prospects must be able to see your information such as your name, email address and phone number so you can make an online confirmation, an email confirmation or even a personalized email introduction that can be made possible by the latest tools.
Most providers of good insurance leads services often have sites that are listed and included on major Internet search engines and portals such as Yahoo, Google, MSN and AOL. Some of them also attract a number of consumers through their group of insurance Web sites that can be of further help to motivated customers.
Because of the latest advances in lead generating technology, client-relationship management systems that are automated such fully developed to play the role of your personal marketing assistant. It sends e-mail as well as physical greeting cards so client relationships can be nurtured even if you aren’t able to give your prospects an ongoing attention.
Through such a new system, each lead that you receive will be added automatically to your address book. You can also create your own messages, use ready-made templates and then send them immediately. You can also schedule delivery days ahead. When looking for insurance leads services, remember these good benefits that they should deliver to you such as exclusive leads, real-time distribution, low minimums, pay for every performance and convenient billing.
Some lead generating sites like Lead.net provides exclusive leads that are available from just about any phone area code in North America. They will also ask you to pay only for the leads that were delivered to you every month. Furthermore, itemized statements will be delivered to you every first day of the month so your credit card is automatically charged.
Their latest services such as the Return of Premium along with other convenient features such as the email underwriting and the fixable applications will give you an easier in doing your business. Your business will grow at a faster pace as 10%-25% more commission together with available normalization is placed on the carriers that you have written.
Lead.net makes a great company as they give you easy access to not just quality leads but to immediate contracting as well as top commissions and back office support. Remember, quality carriers are also the ones that provide easy and simple solutions for their price-sensitive consumers such as the seniors and those with impaired risk cases.
As any insurance agent that sells insurance leads services can tell you, quality insurance leads can be very difficult to acquire. Buying leads can produce quality results with the right providers which are the purpose of insurance leads service for agents.