Jason KumpfNCU News

Why Consumer Feedback is Essential to Businesses

With such stiff competition in the marketplace, it pays to take advantage of any information about a company's customers. Consumer data is usually available in two forms: secondary and primary research. However, primary research provides more direct information about customers' feelings, usage, and reactions to certain products. With that in mind, the following are some reasons consumer feedback is imperative to a company's success.  Identify Needs and Wants Consumer feedback allows a business to identify the needs and wants of customers. Often referred to as "hot buttons," these desires or customer necessities dictate what's most important to consumers, according to Chron.com. Subsequently, when an organization fulfills these needs and wants, they have a better chance of retaining custo

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Jason KumpfNCU News

Expanding Your Customer Base

No matter what type of business an individual starts or runs, he or she will need to expand that enterprise's customer base to succeed. The first step in growing a customer base is to offer a viable product or service that appeals to a broad enough target audience. The business owner will also need to provide those wares at fair prices. With that in mind, the following are the best ways to build a customer base. Conduct Market Research Whether a business owner does phone, internet, or in-person surveys, the objective is to determine what styles, flavors, sizes, or features customers want in certain products. The next step would be to make the necessary changes to meet those needs. Similarly, it pays to contact old customers and apprise them of changes to the product or service line. This

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Jason KumpfNCU NewsUncategorized

Five Great Ways to Expand Your Business

Growing your business is more important than ever, so it's time to boost your marketing game. Even if you're not familiar with professional marketing tactics, there are plenty of things you can do to draw more consumers to your business. Here are just a few ideas to help you get started.   Keep Existing Customers It's significantly cheaper to spend money on your existing customers than it is to attract new consumers through an advertising campaign. The best way to keep your customers coming back is to create a loyalty program that offers something of value for repeat business. In addition to enticing your existing customers to come back, a good loyalty program will encourage word of mouth advertising, so you can attract new customers at no additional cost.   Create

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Jason KumpfNCU NewsUncategorized

The Importance of Self-Motivation in Business

Self-motivation results in forward momentum. A self-motivated employee is a valuable resource for a business that wants to reach goals, innovate, and go beyond the expected results for their company.   But what does being self-motivated at work look like? And is it possible for employers to create an environment where self-motivation is encouraged and becomes the norm?   Let’s take a closer look at how self-motivation can make a huge difference in business.   How Self Motivation Helps a Business Thrive When employees find performing their jobs to be satisfying, there are many positive results for a business. A self-motivated staff is more likely to meet their goals and then exceed them. They will see a task needs doing, and then get it done. These employ

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Jason KumpfNCU NewsUncategorized

Creating a Solid Business Plan

Many people erroneously believe that the only reason for having a business plan is to secure outside funding for your startup business. However, your business needs a written business plan even if you’re funding everything yourself, hiring no staff to get started with, and operating as a one-person operation. Having a business plan on paper is just like getting directions before you drive to a city that you’ve never visited before. The Small Business Administration offers several resources for you to consider when deciding what should be included in your business plan. You need to ensure that you have a written plan for how your business is going to start and how it’s going to last.   Research Before you enter the market, you need to know everything you can about that market.

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Jason KumpfNCU NewsUncategorized

How to Build Customer Loyalty

Your business relies on its customers to survive. If you don't have people returning to your business, then your business will not survive. How do you turn customers into loyal customers? If you want to know, read, and review these three tips to build customer loyalty in your business.   Special Offers You can create special offers for your customers. If they follow you on social media or sign-up for information, then you can send them different offers; this includes sending them different messages, emails, and texts.   These offers should encourage people to return to your store by giving them some kind of discount or bonus. Think of different things that you can offer customers to encourage them to return. Doing so will help you to develop a better relationship w

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Jason KumpfNCU NewsUncategorized

How To Boost Productivity Without Burning Out

Most people yearn to be as productive as possible. Executing such action helps them accomplish a greater number of tasks over shorter durations. However, while striving to achieve such aims could yield several personal, professional, and financial rewards, increased productivity could also lead to burnout. Fortunately, however, highly productive individuals might avoid this potential pitfall by practicing the following tips:   Delegating Certain Tasks No matter how hard-working and productive someone might be, there is only so much one person can accomplish. In recognition of such facts, efficiency experts suggest periodically delegating tasks. Duties can be assigned to subordinates or even freelancers. The critical factor is the avoidance of wearing too many hats and becomin

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Jason KumpfNCU NewsUncategorized

Creating a Solid Social Media Strategy

You've probably already recognized the need for being strategic in your business. Everything that you do concerning the day to day operations of your business has to be done for a reason and with a purpose in mind. Your money and your livelihood are on the line, so you certainly don't want to be "flying by the seat of your pants." It's easy to get so caught up in strategizing daily functions that you forget to develop a strategy for your business' social media. Here are some tips for building an effective strategy for your company's social media presence.   What's Your Why? While your social media usage will undoubtedly serve many purposes, you must identify the main goal for your business' social media. In an ideal situation, social media will help your business in multiple

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Jason KumpfNCU NewsUncategorized

Why Should Brands Use Influencer Marketing?

The internet is changing the way people do things, so it is no surprise to hear that it is also drastically altering marketing. More and more companies are turning to influencer marketing, a type of marketing that involves working alongside social media influencers. These wildly popular internet personalities can use their platform to recommend products, giveaway items, and encourage their followers to use specific brands. Here are some of the main reasons that brands should start using influencer marketing.   It's Affordable Influencer marketing has one of the highest possible returns on interest in marketing. Research has found that the average influencer charges $200 to $250 for each sponsored post. This gives companies the ability to reach thousands of people without havi

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Jason KumpfNCU NewsUncategorized

Using Social Media for Advertising

Advertising is expensive. A 30 second TV ad during the Super Bowl can cost a company upwards of 5 million dollars! Unless your company is already an international success, you may not be able to write a 5 million dollar check for a 30-second spot. But there is an advertising source that is exponentially cheaper (and even free in some cases). Here are some tips on how you can optimize your social media to more effectively promote your business. Different Platforms Have Different Bases It's vital that you realize that every different social media platform appeals to a different demographic. Therefore, your advertising cannot be uniform across all platforms. Pinterest appeals more often to females than males, younger people use Snapchat more than Twitter and Instagram more than Facebook

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