SECRETS TO SUCCESSFULLY STARTING YOUR OWN BUSINESS IS WHAT https://www.jmakoetla.com/ IS TEACHING SMALL BUSINESS OWNERS

The American Dream is, and always will be, to come up with an idea, start a business and become rich from your own efforts. Based upon this motivation, thousands of businesses fail each year, due primarily to not being familiar with the basics involved in running a business. This report will enlighten you, and give you a number of suggestions you can use to better guarantee your chances for success. This report is written with the warning that any and every business venture contains certain inherent risks, and any number of alternatives. We do not espouse that any one way is the right way or that our suggestions are the only way. On the contrary, we advise that before investing any money in a business venture, you seek counselling and help from a qualified accountant and/or attorney. Just about the first thing you should consider before deciding to start or purchase a business is the legal form you'll be operating under. There are basically four choices: sole proprietorship, partnership, limited partnership, and/or corporation. Each has a number of advantages and disadvantages. We'll try to enumerate some of them for you. As much as anything else, for many people starting a business is a form of ego-gratification, and they form a corporation for some sort of prestige gain - just to say, "I own a corporation." With just a little bit of observation, you'll find that one of the major causes of business failures is due to the founder wasting start-up capital on frills, such as an impressive store-front office, expensive furnishings, and corporate legal costs. One of the basic traits you must develop if you're going to be successful in business, is a tight hold on your expenditures. In fact, a good rule of thumb is that anything that does not make money for you or protect your investment, should not be purchased at this time. Very definitely, this applies to the expense of setting up your own corporation. Unless you have a partnership and start your business as such, the only real advantage to forming a corporation would appear to be that a corporate structure will semi-protect the property you personally own. As an example, you own a home and car. You form a corporation to protect these possessions from business losses. Yet, if you can be found guilty of misusing corporate funds, your business creditors can pierce the corporate shield and come after your possessions. Basically, if you invest everything you have in your business, as most newcomers do, you don't usually need a corporation because you have nothing to protect. Your household possessions personal belongings, generally your car, and even a portion of the equity in your home is protected by the homestead provision of the Federal Bankruptcy Act, and cannot be taken away from you. As a sole proprietor or partner of a business you'll be paying taxes on your overall earnings, much the same as if you were holding down a salaried or hourly paid job. Whether you do or don't take out money as a salary will have no bearing on the earnings of your business and tax return. The often advertised advantage of incorporating, that you can manipulate your salary in order to save on tax dollars, is real because of corporation laws. However, the IRS frowns on this practice. When your business is successful and making a lot of money, definitely check with your accountant on the advantages of incorporating.
As a corporation, you'll be subject to a number of other drawbacks as well: generally higher state taxes, stricter laws concerning the operation of your business, more elaborate accounting procedures, and legal papers that are required just about every time you make a major move or sign almost any contract. Thus, your legal and accounting fees will be much higher as a corporation than will those required for a sole proprietorship type of business. As a sole proprietor or partnership, you'll find many areas require the registration of your business name. The cost however, is minimal, ranging from $5 to $100. About the best way to find out what laws apply in your area, is to call your bank and ask if they need a fictitious name registration card or certificate in order for you to open a business account. Selecting a name for your business is quite important to you and particularly relative to advertising. Your business name should describe the product or services you offer. Fancy names such as, Linda's Clipping Service will lose potential "walk-in and passing" customers to the beauty shop across the street that calls itself, Patti's Beauty Salon or Jane's Hair Styling Shop. The advantage of using your full name in the title of your business, such as Johnny Jones' Meat Lockers, has the advantage of making credit somewhat easier to come by - provided you pay your bills on time - but it also includes the disadvantage of confining your services to a local or at most, a regional area. Should you buy, lease, or rent a space for your business? think twice before you make any decision along these lines. Most businesses tend to grow quickly or they never get off the ground. There are a few exceptions, but only a very few, that tend to grow at a modified rate. So, buying a piece of property and setting up your business on or within that property, obligates you to ownership regardless of what happens to your business. Leases are almost always very strong contracts written by attorneys to the advantage of the property-owner. When you sign an agreement to pay someone for the use of their space over any length of time, you're "nailed in" to paying for that space regardless of what happens to your business. In the beginning, it's wise to either get the shortest-term lease possible, or arrange to rent with an option to lease at a later date. This does not apply to a retail business, unless your particular business happens to be an untried one. Definitely, you should open a business bank account. In selecting a bank for your business, scout around and look for one that can, and will help you. Determine what your banking needs will be, and then via telephone, interview the managers of the banks in your area. The important convenient bank to your business location. A point to remember: the closer you can make the relationship between you and the bank manager, the better your chances are going to be for approval on loans and/or special favors you may need at a later date. Try to become acquainted with as many of the bank employees as possible. The better you know them, the more courtesies they'll be extending especially to you in the course of your association. Just as a doctor is a specialist in his field, and you go to him for medical problems, your banker is a specialist in his field and you should go to him for your money problems. In business, you'll have to learn that everyone is an expert in his own line of work, and in your associations with other business people, refrain from acting like a "sharpie" and/or pretending that you know exactly how everything works in someone else's specialty. You'll find that very often, different banks specialize in different types of businesses. As an example, you're sure to find banks that specialize in real estate transactions, export-import businesses, and even manufacturing operations only. What I'm saying here is that if you're planning to sell a fairly expensive item, your customers will probably need and/or want financing. It will behoove you to select a bank familiar with your type of product that will afford your customers, through you, contract financing. Some of the questions you should ask of your banker include the following: Is it necessary to maintain a certain balance in your account before the bank will approve a loan for you? What qualifications must you have in order to obtain a line of credit with the bank? Does the bank limit the number of loans, or types of loans it will approve for small businesses? What is the bank's policy regarding the size of a check you might deposit that requires holding for collection? And what about checks less than that amount - will they be immediately credited to your account? In almost all types of businesses, it will be to your benefit to set up with your bank, a method of handling VISA, Master Charge, and regional credit cards. The important thing here is to ultimately set up your account in the bank that will service all of these credit transactions for you - one stop for all your banking needs. In most instances, you'll find that having the capability to fill orders/make sales via credit card transactions, will increase your volume of sales appreciatively. Once you've made the decision as to which bank is going to handle your account, you'll need your Social Security Number or your Federal Employer's Identification Number, your driver's license, the fictitious name certificate, and if you're requesting a VISA or Master Charge franchise, you'll also need a financial statement. For corporations, you'll also need a corporate resolution approving of the opening of your business account. There are different policies exercised in just about every state regarding installation/hook-up charges by the telephone and utility companies. Some require a deposit, and some don't. You'll find that a great number of city business license departments are there solely for the purpose of collecting another tax. Depending on the type of business you're asking a license for, the building and zoning people may inspect your premises for soundness of structure and safety. Generally, you won't encounter any difficulties - you simply pay your fee to operate your business in that city, and the clerk types your name onto a city license certificate. Relative to sales tax permits and licenses, each state's rules and regulations vary widely. The best thing to do is call your state offices and ask for information concerning registry and collection procedures. Many states require an advance deposit or bond, and you'll find that some wholesalers or manufacturers will not sell to you at wholesale prices until you can show them your sales tax permit or number. Should your business entail selling your products or services across state lines, in another state, you're not required to collect taxes except in those where you have offices or stores. You may find also that your particular business requires the collection of Federal Excise Taxes. For information along these lines, check in with your local office of the Internal Revenue Service. Some states also require certain businesses to hold state licenses, such as those required in many states for TV Repairmen. These are known as "occupational permits" and are most often required of barbers, hair stylists, real estate people and a number of other consumer oriented businesses. If you have any doubts, check with your state offices for a list of those occupations that require licensing. Any business doing business in any type of interstate commerce is subject to federal regulations, usually through the Federal Trade Commission. This means that any business that shops, sells or advertises in more than one state is subject to such regulation, and this includes even the smallest of mail order operations. Normally, very few business people ever have and contact with the federal regulatory agencies. The only exceptions being when there is a question of your operating your business unethically or illegally. Any business that sells or distributes food in any manner almost always requires a county health department permit. If your business falls into this category, simply call the county health department and invite them out to your place of business for an inspection. The fees generally range from about $25, depending on the size of your business when they first inspect it for permit approval. There are also a number of businesses that require inspection by a fire marshal, and fire department approval. Generally, these are those that handle flammable materials or attract large numbers of people, such as a theater. Overall, the local fire department has to be allowed to inspect your premises whenever they desire to do so. You may also run into a requirement for an air and/or water pollution control permit. These specifically apply to any business that burns anything, discharges anything into the sewers or waterways, or use any gas-producing product, such as a paint sprayer. Without a doubt, you'll need to check on local regulations relating to advertising display signs. Each city or township makes its own rules and then enforces those rules according to its own thinking -check before you contract to have a sign made for your business. The design and placement of your sign is very important to your business - specifically to retail establishments - but let me remind you that your business sign is usually the first thing a potential customer sees and as such, it should catch his eye and leave an impression that lasts. It would be a good idea to ride around your town and take a look at the signs that catch your eye, and try to determine the impression of the business that sign leaves on you. This is a basic learning formula for determining the design, size and placement of your business sign. Some of the other things to consider before opening for business - If you intend to employ one or more employees, you'll be required to deduct Federal Income Taxes, and Social Security payments from their checks. This will involve your filing for a Federal Tax Number and necessitates contact with your local IRS Office. Most states have "unemployment taxes" which will have to be deducted from the paychecks of any employees you hire. And there are a number of states that have income taxes - disability insurance - and any number of other taxes. Again, the best thing to do is check with your local office of the IRS. And above all else, don't forget to ask for the rules of the minimum wage law, and comply. When your business grows to the point of needing additional help, don't be afraid to look for and hire the help you need. when you're ready to hire someone, simply run an ad in your local paper and/or register your needs with the local office of your state's employment service. Businesses either grow or die, and those that grow eventually need more people in order to continue growing. When that time comes, hire the additional people you need, and your business will continue growing. If you don't, for whatever reason, you'll find yourself married to your business and your business growth stymied. Regardless of how small your business is when you begin, never walk in with the thought in mind that it's something to keep you busy. Anyone with an attitude of that kind is a fool. You begin and make a business successful in order to realize financial freedom. Establish your business. Put it on its feet, and then hire other people to do the work for you. And those businesses that require an operations manager, or someone to run a phase of the business you're too busy to handle, hire the person needed or the business will surely suffer. To protect the investment of your business, you need business insurance. If you've never had any experience with business insurance, simply look under the heading of "business insurance" in your phone directory. Ask for bids from several different companies or agents...Primarily, you should have a policy that gives you general liability, fire, workmen's compensation, business interruption, and vehicle coverage. You may also want coverage against possible losses related to burglary, robbery, Life & Accident, Key Man, and Fidelity Bonds. As the sole proprietor of a business, you won't be paid as an employee, so there will be no income tax deducted from whatever you withdraw from the company's earnings. What you'll have to do is again check with the IRS Office for a Tax Guide For Small Businesses Handbook, and probably end up filing an estimated tax return on a quarterly basis. The minute you open your doors for business, you'll have to spend some time engaged in the work of bookkeeping. Exactly how, and using what forms, you keep books, should be on the recommendations of a good tax counselor...The same holds true for your overall business and/or payroll accounting system. Look for an experienced CPA that knows the accounting problems to your particular kind of business, and solicit his advise/counseling. If your business is going to involve the possible purchase or lease of operating equipment, again seek the help of your tax counselor for the most advantageous method of obtaining the needed equipment. Basically, arranging for your suppliers to give you materials on credit will depend upon your honesty and personal financial statement. The best way is usually a personal visit to the person with the power to approve or disapprove of credit at the company where you want to set up a credit account. Show him your financial statement, and explain your prospects for success. Then assure him that you've always honored all of your obligations, and that if ever there's a question or problem, you'd like for him to call you at home. And of course, give him your home phone number. We won't go into the exigencies of advertising your products, services or business here, but there is something along these lines you should always keep in mind. The best kind of advertising your business can receive is that you don't really pay for - publicity. When something unusual happens to you, your business, or your employees - that's news, so be sure to tell the news media in your area about it. In closing, let me say that the most important ingredient of your eventual success will be the soundness of the planning you did before you started your business. Any number of bad things can really throw your business into a tailspin, but if you've done your homework well - really set up a detailed business plan before starting - your losses or setbacks will be minimal. Success takes planning, and within this report, you've got a basic checklist...The rest is up to you...Good luck, and may your life overflow with success in all that you undertake from this moment forward.

Small Businesses Vs Big Businesses The Study https://www.jmakoetla.com/ worked on for almost 10 years

Running a business successfully involves a well-planned strategy and a list of goals which can be achieved through various techniques. It also involves analyzing and assigning tasks to appropriate employees. But what differentiates a big business from a small business? And how can a small business become well-established in its market? There are a couple of key points that separate a big business from a small one. Strategies and goals may not be starkly different, but if a small business wishes to reach greater heights, they must know how to strategize and build their business up to a point where it is no longer a small business. Having said that, what are the various things that differentiate these two types of businesses? Here’s what makes them different: Finances Financing is the heart and soul of a business, it is the key point to build a successful business. Without adequate funds or finances, it is difficult to set up and establish any business. Big businesses that operate on a global level are already established and do not have a problem raising funds since they have access to investors, loyal customers and have their presence worldwide. However, in the case of small businesses, they are completely dependent on their personal investment or loans from banks. This is because a small business is still in the process of becoming a big brand. This is by far the basic characteristic of businesses that separates a big business with. Investment Big brands that are well established in the industry or market do not have trouble raising funds through investors. This is because they have risen to a level where investors can trust the business and their capabilities to grow further. A business that has done well can be trusted on showing success in the future. On the other hand, a small business still in the process of establishing itself in the market may find trouble finding investment from investors. This is because they do not have the kind of assurance a big business does to assure investors that their venture or business will be successful in the future. Brand promotion Big brand and businesses are big because they are known and recognized on a global level. For example, Nike is a well-established brand that promotes itself through marketing and advertisements across the globe. Big businesses also have the funds and ability to hire celebrities and influencers to market their products. It goes without saying that big businesses cater to a much larger audience than a small business. On the other hand, a small business is more likely to have limited marketing and advertisements, specific to their niche audience, which may not be very large in numbers. Therefore, another big differentiator between big and small businesses is the scale of brand promotion. Market niche Big businesses have a wider scope of the audience than smaller businesses, precisely due to the nature of their products or services. For example, Apple manufactures electronic devices for a large target audience, be it male, female, adult or child. As a company, Apple wants to target more and more people, without having a specific niche market. Small businesses, on the other hand, cater to a niche specific audience. This is mainly due to the amount of finance, investment, advertisement involved and also the nature of their products or services. For example, Basecamp is a project management system for businesses to handle projects on a daily basis; and this software has a very specific niche audience. Both kinds of businesses aim for expansion, but the bottom line is that Apple will always be a bigger business than Basecamp. Strategies Big brands usually follow process-driven strategies and such a strategy which usually involves lesser risk. However, small brands that are already in the mode to establish a strong market and strong reputation often use trial and error methods to identify how to establish themselves in the market. The big brands or well-established businesses that have a firm foothold do not experiment yet this not mean that do not prefer innovation. Big brands have a good understanding of the market, they have everything in their favor, a huge follower base, ample marketing tools and a fairly good idea about the kind of content their audience likes. These are things that come with being big players in the market. Small businesses, on the other hand, are at greater risk since they still experiment with different strategies to identify what works for them and what doesn’t. Revenue generated It goes without saying that big businesses have a bigger turnover than small businesses. You could say it’s a big loop of success. The more money a business makes, the more opportunities they have to further grow and invest in their business. Smaller businesses do not generate as much revenue as bigger businesses, simply because they are not big players yet. This is another factor that separates a big business from a small one. Employee’s strength As mentioned above, big businesses operate on a global scale, which means they cater to more people, in more countries and more often than smaller businesses. Having said that, the employee strength of big businesses is bound to be larger than that of a small business. This is simply because bigger businesses have more to do, manage and handle; whereas smaller businesses may not have as much to do or as many customers to handle. Naturally, the bigger your business grows, the larger your team gets. To conclude, the basic functioning of a business stays the same. Be it marketing, processes, promotion, fundraising. What differentiates a big business from a small one is the scale of work that is being done.

How to profit from Real Estate Without Being an Investor or Realtor is exactly what https://www.jmakoetla.com/ wants you to know

You don't have to have a title in order to profit from real estate. In fact, even if you are not an investor, realtor or someone who has studied the market, you can still profit from real estate. All you have to do is know exactly where to find the market at. By doing this, you will have the chance to put some extra change in your pocket. Investing in real estate is as simple as finding a place that you like and deciding to use it for something outside of your living room. You can profit by renting or leasing space out to others, fixing a property and re-selling it, or by using it for a need that you see in a community. No matter what you want to invest in, you can be sure to earn a profit after you have found the right space and location for your investment. When you are considering investments that you will want to make, you will want to also consider the types of risks you are willing to take with the investments. You want to first think about the investments that you can make at first that will benefit the most. Usually, it will take time to begin making the money back, so your financial situation will need to be stable and you should never go out of your means. Many times, profiting from real estate simply means having the ability to invest in your own home, than sell it for a higher price when the market is better. If you are keeping up with the real estate market, you will know when it is a good time to sell and when it is better to hold onto what you have. This is an easy way to build up your investment and move into something better. No matter how large or small, there is always a way to benefit off of living space. By finding what is out there and making the right investments, you will easily be able to turn real estate into a living.

Keyword Research Tools https://www.jmakoetla.com/ Found for Your Business Success

If you are already into SEO and are using a content strategy that is giving jerks to your competitors, you definitely know how keywords can make a difference to your business. But, for all others, the basic truth is that content cannot survive in this ruthless online competition if you are not using keywords. Keywords? Eh! Where do you find them? Yes! Keywords are the lifeline for your content. Content these days is not just written for reading but has become a potent marketing tool. Marketers see a huge potential in the content as a great tool for attracting more traffic. So, they ensure that it is highly relevant and engaging. This means your keywords have to be well-researched and meaningful to the topic at hand. What is Keyword Research? How do you get to the Best Keywords? Keyword research is an integral part of the SEO strategy for your business. It is carried out to arrive at the most popular words and phrases that are entered by people to carry out their searches. Many keyword research tools are used merely to find out how high is the demand for certain keywords. This is often reflected in the volume. This information helps in determining the level of optimization that is needed. Not only will they define the level of success of the current blog post but also give you clues about your next. When you enter this domain and dig a bit deeper, there are some terms that will keep coming back to you. In order to ensure, you do not get stumped by these, and you have a fair idea of what the whole game is about, here are some of them touched briefly. The Keyword Planner Simply put, it is a great keyword research tool. The most widely used is the Adwords Keyword Planner that is integrated into the interface of Adwords. It is formed by the combination of the Google Keyword Tool and the AdWords Traffic Estimator. The best part is that it is an enhanced version of the same due to the integrated workflow for directing the users just as in a wizard. Users are able to get to the new keywords for the creation of new Ad Groups and even new Ad Campaigns. This is an incredible tool for the following: Finding New Keywords: Planner assists in brainstorming random ideas for keywords depending on the landing page and even a product category. Keyword Statistics and Estimates: Many options for targeting can be made like the country, language and even the search network for informing various keyword estimates. Filtering: It also enables you to narrow down your keyword list depending on criteria like average CPC, or even the volume. Now that you have a fair idea of what keyword research is all about and the related tools. Let us just walk you through some other popularly used tools for the same. Popular Keyword Research Tools There is no end to the number of keyword research tools available online. This is both good and bad news. Think! It’s good to have options but too many of them often add to the confusion. Here is a list of the tools that were most popular in 2019. Rank Tracker: A highly powerful tool that has one of the largest keyword databases that uses around 23 methods of keyword research which includes Google Keyword Planner, Search Console, and even Google Analytics. It also helps in keyword analysis as per the most efficient SEO indicators like the number of searches, keyword difficulty, competition, keyword length, etc. Google Planner: It is a free keyword research tool from Google that goes along well both with the keyword research and PPC campaigns. Although there are not many metrics available it still furnishes enough information to get a basic understanding of the quality of the keywords. KW Finder: This is one tool completely dedicated to keyword research. Although new to the niche, yet it has risen sharply to gain the attention of the marketers. They give the keywords that invite high traffic. It specifically helps you find specific long-tail keywords particularly related to your problem. Jaaxy: It is an online tool that will completely enhance your keyword research process and will help you get a whole set of related keywords. The beauty of the tool is that it uses a combination of data from the most popular search engines like Google, Bing and Yahoo along with the data that falls under its own proprietary to ensure your keyword search is comprehensive and complete. The tool also generates many metrics around your keywords that also includes the Quoted Search Results that prove how other websites rank for the same search queries. Keyword research is essential to give a new boost to your SEO strategy and a new lift to your content marketing campaign. Do not miss out on your share of the online traffic and grab your favorite keyword research tool from above and see the difference. And, yes! do not forget to share your experiences with us.

Listen To How https://www.jmakoetla.com/ Explains The Need For Customer Management

We’re sure you’ve heard of customer relationship management. How is social media and customer relationship management interrelated? What is the need for customer relationship management if you’re a business owner today? The rise of social media is imminent and cannot be unseen. As a customer, you might be unaware of how social media impacts every purchase decision you make. As for the businesses, we cannot ignore the role of social media in the entire process of making a sale, as well as in customer relationship management. For both B2B and B2C industries, social media plays a crucial role in the decision making process. According to reports, social media interactions also have an effect on upselling efforts. Social media acts as a medium to generate good quality leads before they finally convert. Customers now are more interested in products and services that make a difference to their lives. We are seeing a keen focus on building strong relationships with customers. This calls for effective customer relationship management. The insights that are gained with the help of CRM help market your services or products more efficiently. If you know how to target your customers, your business will grow better. So here is the ideal purchase process followed by businesses to target users: Awareness- Business promotion creates awareness about the product/service that you are offering. Interest- At this point, customers begin to search for something specific that interests them. Businesses pay attention to this step to capture leads. Desire- Here you need to market your product in a subtle manner. This should reflect how your product fulfils the demands of customers. Purchase- Customer recommendations largely influence a purchase. Providing quality customer service ensures that existing customers advocate for the new customers. Retention- Retaining existing customers is beneficial for the long run. This will help you build a strong customer base. Now that we know why businesses are implementing CRM, let’s discuss the benefits of CRM for businesses: Business growth What does business growth depend on? There are various factors that are responsible for business growth, the primary one being how well you market your business. The stronger your relationship is with your customers, the more business you are likely to receive. Getting a good understanding of what your customers like or dislike gives you an opportunity to cater to their needs and wants better. You can position your products and services in a way that your customers find most appealing, making your brand one of their favourites. Get customer insights Big data is an important part of CRM and because of this businesses are able to get insights that can be beneficial for them. All customer data is easily available, which means that informed decisions can be made with greater agility. As far as the marketing campaigns are concerned, having insights on the responses of your customers can help you avoid making previous mistakes. This will make you market your business in a better way. Loyal customer base Customer relationship is the key for having a strong and loyal follower base, which is important if you want your business to grow in the long run. Social media CRM is the next big thing for businesses and the formula to gain loyal followers. Social media offers tremendous potential for businesses to grow. This helps businesses not only to build online virtual communities but also lets you create customer engagement programs and activities that help build strong customer relationships. Customer retention With every other business having a presence on social media channel offering almost similar services, it has become important for businesses to break through the noise and give customers a reason to stay loyal to their brand. Having customers that are loyal to your brand helps in increasing customer retention. Fulfilling the needs and requirements of your customers gives them a reason to stick to your brand and also tell other people why they should purchase products or services from you. So, customer relationship management is no more just an option for businesses to consider. It has become a necessity for any business in order to get better insights about your customers and therefore cater to their needs better. Considering what your customers are saying about you and your business will help flourish your business.

Techniques to Build Customer Relationship https://www.jmakoetla.com/ is recommending are based on 4 Effective Customer Relationship Building Strategies

What is the importance of building customer relationships? Customer relationship plays a key role in gaining loyal customers which further boosts customer retention. Having loyal customers to your brand enhances the business growth and also the revenue. But before we dive into it, are you aware of the need of customer relationship management? Loyal customers define the success of a business. Happy and loyal customers are the key to a successful business, which is why we are now experiencing a sudden shift in business strategies. Earlier, the focus was mainly on the marketing and advertising of business products and services. Now, users are least interested in aggressive business promotions. Businesses are now working on ways to build a strong relationship with their customers. The real value of a business is known by the number of customers it can serve efficiently. The more customers are served, the more the organization is valued. This is why business owners are now keen on exploring Customer Relationship Management (CRM) for their businesses. As a business owner, are you also often confused about how to maintain a good customer relationship? Here are some techniques to build a strong customer relationship: Two-way Communication The key to any good relationship is two-way communication. For healthy two way communication, it is important that the conversation is on a topic that interests both the parties. The users would be more interested in having a generic conversation that interests them instead of having a conversation specific to business promotion. As for the business growth, communication helps gain loyal customers. Instead of just promoting and talking about your business, products and services, try having meaningful conversations with the users. Give more than promised The best way to retain customers is to give more than promised and we assure you that they will stick to your brand. This definitely boosts customer retention. The main aim is to keep your customers happy and impressed. Satisfied customers act as advertisers by promoting your brand by word of mouth. An example of this is when a user gets a free service in addition to a service that he/she paid for. There is no reason for a user to not like your brand. Ask for feedback Asking for customer’s feedback makes them feel like they are being valued. And they share their real experience with your brand, whether good or bad. A good experience acts as a magnet to attract more users. Make sure to respond to negative comments as well. Not responding to a comment is the probably the worst thing you can do for your brand and brand image. This gives a clear picture of the needs and requirements of your customers. The better your offerings meet their needs, the more your business will grow in the future. Giant corporations conduct regular surveys to identify any loopholes in their marketing strategy. This helps them market their business precisely and boost the customer relationship. Virtual communities In the era where technology and the Internet are ruling the marketing space, users end up spending a maximum of their time on the Internet or on social media channels. For businesses who want to develop strong customer relationships, creating virtual communities is the best option available. As business owners, you can create communities on social media channels to initiate conversations and bring in engaging customers who would be willing to have one-on-one conversations. This would increase global recognition for your business as well. We hope by now you know the role of CRM in customer retention and what are the strategies to build a good customer relationship.