Every time when you provide a bad service to your customers, they won’t love you, your competitors do.

Every time your product fails to meet the customer expectations, they won’t love you, your competitors do.

Every time you fail to address a customer complaint, they won’t love you, your competitors do.

Every time you fail to come up with creative and innovative solutions for your customer’s problem, they won’t love you, your competitors do.

Every time your customer fails to reach a human agent on the customer service channels in time and hence gets frustrated, surely they won’t love you, your competitors do.

Every time your internal processes go out of sync with your business model, fail to be agile & flexible, it impacts your response time to service a customer, they won’t love you, your competitors do.

Every time your customer service representative fails to satisfactorily answer customer queries, they won’t love you, your competitors do.

The choice is yours!!!!!

•   80% companies say they deliver superior customer service, 8% of their customer say they do, they won’t love you, your competitors do.
•   91% of unhappy customers will not willingly do business with you again, they won’t love you, your competitors do
•   86% customers quit doing business with companies & switched due to bad services, if you were one of those companies, your customer won’t love you, and your competitors do.

There are some reasons why it is important to have competitors.

Teaches You New Skills

There is much to learn from your competitors. If you’re having difficulty in any particular area of your marketing, find competitors who are doing it well and learn from them. You don’t want to copy them, but there is nothing wrong with adopting certain practices into your own plan where it makes sense.

On the flip side, you can also identify where competitors are falling short, and be the one to satisfy that need. Mistakes are one of the best ways to learn, but who says you have to be the one to make the mistake? Look at online reviews and learn about what mistakes your competitors have made, so you can avoid making them in the first place.

It is important for companies to have competitors because it is through them that you can get new ideas and perspectives, learn how to stand out, and progressively grow your business. Use your competitors as a catalyst for change and watch your business succeed.

Opens Your Eyes to Improvement

Customers don’t always know what they need until they see it, and sometimes it’s a competitor that they see it. Loyal customers who want to continue utilizing your business will provide useful feedback on these needs. Instead of walking away because you don’t have what they need, customers can know what to ask for and what to request, based on what they see competitors providing.

Similarly, you might not know the next step in improving your services until you see a competitor do it, or until they do something that inspires a unique idea for your business. Competitors are useful for introducing new ideas and perspectives to your industry.

Provides Reassurance

The presence of competition means that customers have the option to choose either your business or another business. When there is competition, you know that customers are using your business not because you’re the only one out there, but because among the others out there, you appealed to them most.

Reveals Your Secret Sauce

 You provide the same services as other companies but at a quicker pace, or with more personalization, or through a unique approach. Perhaps you provide one additional service that your competitors do not. Competition is important to your business because it enables you to identify your specific and unique traits that are appealing to customers. Identifying and harnessing these traits will enable you to market your business more effectively and bring in new customers.

Helps Customers More Quickly Identify You

Competitors aren’t always detracting from your business. In fact, at times competitors will actually help customers to more quickly assimilate information about your business in their head. If a potential customer stumbles upon your business online, they may not always know what you do, especially if it’s not obvious through your business name. customers can more quickly identify who you are and what you do.

Allows for Market Research

In the world of business, there will be instances in which a customer leaves you for a competitor, or leaves a competitor for you. When either of these instances occurs, learn about what specifically caused the customer to change businesses. Gathering this information enables you to better understand your target audience, better serve their needs, and make adjustments as necessary. It is important for companies to have competitors because they keep you on your toes in doing market research. Who knows, you may even find your niche market this way!

Conclusion:-

There is much to learn from your competitors.After a thorough investigation into the digital depths, you should have a solid understanding of where you and your competitors stand. Use your research to your advantage: learn how to be better! Run a better business, be a better member of your community, and have greater success online – however, you measure it.

Feel like a competitor is getting all the business in town? Learn from those who do it better, improve some things for those who do worse. Contact or email for more information at ntinbang.com.

The post Why Your Competitors Love You And Your Business? appeared first on Nitin Bang.

One of the greatest drives of all human beings is the drive to succeed – the drive to improve, to make progress. It is by making progress that we feel a sense accomplishment. After all, if we’re not getting ahead, we’re actually falling behind, and nobody likes to feel left behind.

But what if you could get ahead faster? What if you could achieve all that you want and more? What if you could achieve massive success, and do it in a short period of time?

Well, the good news is that it can be done, and many people have done it before. There are numerous examples of individuals who have completely transformed their lives, their relationships, their health, their businesses, and their income in surprisingly short periods of time.

if you want the same to happen for you, here are some tips to help you achieve massive success in business:

1.Believe that everything is possible for you to :-

“The word impossible itself say that I’m possible.”

The first step towards achieving success is to believe that it is possible for you. Your belief in yourself must come first, and it is precisely that belief that will fuel your motivation to take action. It’s easy to believe that achieving massive results in a short period of time is possible for others because you can simply look at real-life examples for the evidence you need to support that belief. But to believe that it’s possible for you before you’ve created the results to prove it can be challenging. The average person believes something only when they see it. But the person who succeeds must believe in their success before they achieve it.

2. Act like a person you want to become:-

“Act the way you’d like to be and soon you’ll be the way you’d like to act.”

If you continuously act like the person you want to be, soon enough you will become them. The person that you are today is precisely the person that has created the results you are currently experiencing. Achieving new, massive results will require a personal transformation. Start by visualizing how that person talks, what skills they have, what their habits are, how they handle setbacks, how they lead others, etc. Then start acting like that person. You must be willing to give up the person that you are for the person that you can be.

3.Refuse to tolerate negativity

Whether they are your colleagues, friends, business partners, or even family members, you must severely limit the amount of time you spend with people who are negative and whose attitudes do not support your success. One of the greatest killers of success is the pull of negative people who try to hold you back from getting ahead. You must also refuse to tolerate any negativity from yourself. Refuse to tolerate complaining, blaming, and criticizing in both your personal and professional life.

4. Put your stake in the ground

Putting your stake in the ground means deciding precisely what you want to achieve, and sticking with that goal until it is done. Don’t jump from one industry to another, or from one opportunity to another. Say no to all the things that take you away or distract you from your chosen course of action. Claim your territory – stand firmly, stand proudly. Choose one course and stay on that course until successful.

5.Have a “No Plan B” mentality

“There is no reason to have a plan B because it distracts from plan A.”

If failure is an option, or if you do have a backup plan, then you are more likely to give up when things get too tough. In order to achieve massive success, you must think and act as if failure is not an option. When a person’s back is against the wall, they can do amazing things. When you have no other choice except to succeed, you force yourself to keep going even when it’s extremely uncomfortable.

6. Use the language of success

To become successful you must think like a successful person. The successful person says “I’m committed” while the unsuccessful person says “I’m going to give it a try and see what happens”. The successful person says “I’ll figure it out” while the unsuccessful person says “I wish I knew how”. The successful person says “I’m going to make this better” while the unsuccessful person says “I really hope things get better”. You must speak the language of success in order to achieve it. You can easily tell the difference between someone who consistently succeeds and someone who consistently fails by the language they use.

7. Focus on getting better every day

This simple habit will have a profound impact on your results in the long run. Another major key to achieving massive success is to focus on getting just a little bit better every single day. Consistent minor improvements over a long period of time have a major compounding effect. Each day, strive to become just a little bit better than you were yesterday.

8.Don’t take advice from people who aren’t getting the results you want

“I never take advice from anyone more messed up than I am.”

If your goal is to make at least six-figures this year, find someone who has made six-figures and learn from them. A crucial principle for achieving massive to success is to reject the advice of anyone who is not achieving the results you want. Make sure you get your advice from the right people, and never take advice from someone who is more messed up than you are.

9. Accept no excuses

The final tip for achieving massive success in your life and business is to accept no excuses. Successful people know that it only takes one good reason to motivate you to achieve what you want to achieve. It only takes one good reason to overcome a thousand excuses. Average people have a habit of letting just about any excuse stop them from achieving their goals. You can have excuses or you can have results, but you can’t have both.

Conclusion:-

Which one of these tips do you believe is the most important tip to being successful? Online space is a social place, and that relationships take time to cultivate and how quality beats quantity and all of that. Hope these tips will help to achieve success in your business. Now, it’s just so easy to just want things. Heck, we all want lots of things. But wanting things for yourself and your brand simply won’t gain you massive success, only massive action will. Subscribe newsletter email at nitinbang.com for more information.

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There are two things that every entrepreneur wishes for: more time and more money. We yearn for more time because balancing any semblance of a career with the demands of a family life, friends and other interests, becomes overwhelming.

By creating a plan, taking action and staying persistent no matter what, you can leverage the following strategies and methods to scale your business. It’s not easy. No one ever said it would be. But it is well worth it.

Scaling an online business isn’t rocket science — it’s actually much easier than many people believe. When you combine a winning product or service and a solid foundation to build on, the sky’s the limit.

You can use these six tips to help you scale your online business and experience increased growth.

1. Create and share content on a blog

It is the best idea to scale your online business. Starting a blog is simple and straightforward. What isn’t simple and straightforward is actually posting useful and unique content that adds a tremendous amount of value, and doing that consistently.

However, blogging is one of the best ways that you can build authority and create an organic audience over time. By becoming an authority, you’ll end up attracting customers rather than chasing after them.

2. Leverage legitimate SEO techniques

SEO seems complex and confusing, but it really boils down to a few fundamental principles. Learn SEO the right way, leveraging the proper techniques, while adhering to Google’s many rules, and you’ll succeed. Your visibility will eventually grow, resulting in a natural increase in leads and sales.

3. Connect with influencers

It’s not easy to become an influencer, but if you have a small budget, one near-instantaneous way you can scale your business is to get influences on board to champion your products or services. This is a quick way to get out in front of a very large audience, but not the cheapest way.

4. Seek out media exposure to highlight your expertise

Getting yourself and your brand out there is crucial if you want to scale. There are plenty of opportunities to score free media exposure if you are willing to put in a little work. There is a very good chance you will come across several exposure opportunities if you put in the effort. Consistency is key if you want to find success using this strategy.

Instead, stick it out and put some effort into your responses — journalists receive hundreds of replies to each request, so you are going to need to stand out. Make sure you avoid making these stupid press outreach mistakes.

5. Set up email automation sequences to nurture, promote and convert 24/7

Every type of business can use email automation. Restaurants can build a list that automatically sends out e-coupons for specials and discounts on notoriously slow days to drive foot traffic. E-commerce stores can create segmented lists and send special offers to customers based on their previous purchase habits. Just like every other form of online marketing, email automation requires extensive split testing and constant optimization, but when you fine-tune your efforts, email automation creates a system that promotes nurtures and converts sales 24/7 — even while you sleep.

6. Maintain consistent social media branding and cross promote

Social media is such a powerful branding tool, and it’s important that you think about the big picture when establishing social accounts for your business. It will benefit you greatly if you use a handle that’s easy to remember and available on all of the networks you will be actively promoting on. You should also be cross-promoting your social media accounts in an effort to get your audience connected on as many platforms as possible. Someone following your brand on Twitter might not be connected on Facebook, which could be his or her preferred social network.

A simple “Make sure to connect with us on Facebook” tweet could get people to like your Facebook page and then engage with a future Facebook post, leading to that hoped-for conversion.

Conclusion

Don’t copy. Be different and you will win. Because it’s true. The moment they see people flocking to a new website, posting to the latest social platform or watching the hottest new TV show, they swarm in and fill it with ads for their stuff. Your unique idea in your online business will help you more to success and win. Visit and subscribe www.nitinbang.com for more information.

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Whether you are just starting out as a new business owner or you have successfully been running one for quite some time, there are always new strategies that can help maximize your success rate in the marketplace. Your business credit score is more than a number. In fact, it can play a large role in the success of your business. A business’s credit score helps lenders, suppliers, and other creditors quickly evaluate whether the business will pay its bills on time.

Professional development

No matter what category your business happens to fall in, one thing is necessary in order for you to provide your customers extreme value: to make the commitment to continuously learn and study what’s “hot” in your field. If you spend an hour a day to learn about and research your field, you will instantly start to set yourself apart from your competition.

Customer value

Providing value in the lives of your customers is extremely important when thinking about creating lasting business success. If you are not changing or adding extreme value to your customers’ lives, your business will hit “stall mode” very quickly. The stall mode is when you truly believe you are doing everything right and working extremely hard, but the results and success aren’t present to show for it.

High-quality products/services

One of the quickest ways to set you apart from the competition is to provide your customers with high-quality products at the same price as your competitors. Quality is everything when it comes to growing your business. Spend the time to plan, organize and deliver top-notch quality products/services in everything you do.

1. Check your business credit report regularly and verify that the information is accurate and up-to-date.

2. Establish business credit with companies that report trades. Remember, not all business creditors report their trade information.

3. Pay your creditors on time. Historical payment behavior with previous creditors plays a major role in determining your business credit score.

Check your credit report

You can obtain your business’s credit report from the major credit reporting companies. These reports aren’t free—even if you’re the owner—but they’re always the first necessary step in getting squared away on your credit score.

Once you know your score, you know what you’re working with and can get the information you need to raise your score, including which accounts are negatively affecting your report and any disputable items on the report.

Pay your bills on time.

This is a no-brainer and one of the easiest ways to improve your business credit score, but if you do not pay your bills on time, your credit score will suffer, and anything else you do to improve your score will just be canceled out by the fact that you’re still a debt risk.

Decrease your credit utilization ratio.

One of the things credit reporting agencies look at when determining credit scores is the ratio of credit used in relation to the amount of credit available. It’s typically a good idea to keep that ratio under 15%.

• Pay off your balances: This is obvious but will ensure you decrease the ratio. If you can’t pay them off entirely, at least get them down as low as you can.

• Increase your credit limit: Ask your credit card provider to increase your limit, and voila, you’ve just decreased the ratio.

• Decrease credit card spending: Keep up the good work by decreasing the amount of money you spend on credit.

• Open a new line of credit: This may seem counterintuitive. Why would you want more credit available if you’re not going to use it? It’s all in the ratio. Having more credit available and not using it all makes you look good to credit reporting agencies.

• Pay your bills more than once a month: This will keep that ratio down as the spending won’t pile up over the course of the whole month.

Add positive payment experiences to your credit file.

Not all vendors and suppliers share payment data with business credit-reporting agencies, but you can add trade references to your company’s credit file manually through the credit reporting agency. The more positive payment experiences you can add to your file, the better.

“Pay for delete” with collections

If any of your debts went to collections, pay attention when it comes time to make good on your them. Make sure that the agency will delete the negative account from your credit report. You have to explicitly ask for this—otherwise, paying off this debt won’t help your credit score because it will still show a history of negative accounts.

Conclusion:-

Your business credit score is a critical factor in securing a business loan, among other things. But don’t fret, even if you have less-than-stellar credit, there are ways to improve your business credit score and graduate into better loan products over time. Nitinbang.com is an online business development company. You can contact or e-mail us for more information or any queries.

The post What Are The Things, Which Increase Your Business Score And Grade? appeared first on Nitin Bang.

A general rule in your financial success in business is that you cannot increase profits directly, only indirectly. You cannot say that you are going to increase profits for your business without a specific strategy.

No matter your budget, there are always ways to increase your sales and grow your business. But one of the trickiest aspects is increasing your sales when your budget is tight. Whatever the reasons are, it could be challenging to increase your sales while keeping your marketing and advertising dollars under control.

Below are some ways you can boost your small business sales even if you’re working on a tight budget.

1. Talk to your customers:-

Remember your current customers are the best ones. You have to be polite to them. You should build trust between you and your customers. If you’ve built a relationship with your clients and they consider you a trusted partner, then they are likely willing to share the current challenges they are facing. By listening, you can easily analyze how you might be able to help them address these challenges by offering new or alternative products. This approach allows you to continue to be a good partner while also increasing your revenue.

2. Ask for Referrals

Your current customers are also a great asset in providing you with client referrals. If you know that a client is satisfied and happy with your products, ask him or her for the names and contact information of other small business owners who might also benefit from working with you.

You can also ask to your satisfied customers for feedback and then use those on your website and in sales emails or newsletters. Always be sure to ask permission first when using a customer testimonial. You should also ask your customers to write a review of your products or services. Also, ask them for the rating of your product or service.

3. Listen

Listening to your clients or potential customers is the best way to understand and address their needs. Without open communication, the chances for misunderstandings and frustrations arise. Make sure that you and your sales team understand how to listen, ask leading questions to get more information and are comfortable brainstorming solutions with clients.

If some members of your sales team aren’t okay with employing any of these tactics, that’s fine. It might be better to have them focused more on closing sales or making initial contact than true consultative selling. You should listen to your customers and employees.

4. Use Social Media to Your Advantage

Promote your business on social media too. If you have even a small following on Twitter or Facebook, using social media to promote and tout your product offerings is a great way to raise customer awareness and quite possibly get the phone to ring. Customer testimonials, are perfect for posting to social media feeds and can spark interest in your offerings.

Additionally, don’t view social media as a sales tool, but as an open line of communication. Use it to disseminate interesting industry information, retweet or repost articles of particular significance or further illustrate how your business works, perhaps with behind-the-scenes photos or videos. Social media is first and foremost social platform; use it as a personal touchpoint to your audience.

5.Raise Your Prices

Raising prices is not something that should be taken lightly. Be sure to analyze the pros and cons of increasing your prices for both the short- and long-term. This might seem antithetical to increasing sales, if only because higher costs might make some potential or even current clients hesitant to work with you. When you do raise prices, don’t do it quietly. Announce the increase to your current clients. Give them the chance to renew their contracts or purchase products and services before the increase takes place.

While none of the strategies above require an outlay of cash upfront, they will take time and commitment from you and your sales team to really take off. whether over the phone, in person, or via social media. However, by continuing to make connections with current and potential clients, you have the best chance of increasing your sales and demonstrating your value.

Conclusion

Apply these tips to your business. It will surely work. Pick out one or two benefits of your products and state those clearly in the headline of the sales. Make it clear to your customers exactly what your product is going to do for them. Be specific. If your product has multiple benefits, create sales messages for different customers that they can relate to. subscribe to www.nitinbang.com for more information.

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When you first started your business, you probably did a lot of research. You do everything possible to make your business strategy successful. You may have sought help from advisers from books, magazines, and other available sources. You did invested a lot in terms of money, time and sweat equity-to get your business off the ground. So now what?

So, what is the right amount of growth?

It may seem that companies can coast by simply maintaining the status quo of their business, but I would argue that a company is either growing or dying. How do you ensure you are growing since the alternative is not desirable?

First, you should consider whether you are ready for growth. “But I thought you said that a company has only two options, either to grow or die?”

But you don’t want to launch into a business growth plan too quick without the proper strategy and planning, you must see this article first.

Workforce supply(larger number of working peoples)

Do you have the right culture-fit employees, enough workers and right types of skills?

Discussing this with your team leaders and HR folks can be a real eye-opener. Many companies are challenged with finding quality employees who are the right skills and culture fit.

Communications (external & internal)

It’s time to check your communication skills. How do your communication with your employees? And what about your product suppliers and customers? Do your employees know your brand’s details? And how they communicate with customers?

It might be a good time to chat with your team leaders and formalize your communication plans to make sure that everyone is on the same page. Growth strategy without involving everyone on the same page can cause some miscommunication.

Orders or Service Capacity (Vendor Capacity)

If your orders, revenues, or sales sudden doubled or tripled, could you handle the growth without choking?

Do you have space, equipment, property to fulfill those significant higher orders or service requests?

Can your current vendors manage the jump in growth?

This is very basic that when you are going to grow, your vendor is capable to manage your growth consistently. Non-stop supply and without any delay will be the key point in your growth. else you should search for another vendor who is capable to do it.

Financial Resources

Finance is the Greece to run your business smooth. you should take care of your finance to run the business properly and generate enough cash flow. This is no matter where you arrange this. either from the bank, equity through shareholders or use an alternative financing model.

You should have a extra finance for your company’s bad time or emergency time to prevent any loss.

Are your Clients Grow with You?

As you grow, your customer must grow else your growth will be temporary. your customers only grow when your products or services add values to their life as well as business.

Your customer always expects the same level of attention after your growth. The client should be the first priority of your business.

Growing Business Strategy

“Failing to plan is the planning to fail.”

Most of us have heard this adage, but it cannot be emphasized enough. Business growth strategies need planning, preparation and communication with your implementation team. It would be unwise to underestimate the importance of proper setup. Implement these strategies carefully to be successful in your business.

Related article: How to take advantage of leverage in small business?

Conclusion

This post has given you a lot to think about.

You have the best quality, or maybe you have the fastest turnaround or you have the most advanced product on the market. But Make sure you have something that is unique, that sets you apart and actually matters to your customer. Meaning they are willing to pay for it at a price you can make a profit.

You sense that you may need some help mapping all of this out. If that’s you, then subscribe to nitinbang.com. I would love the opportunity to see how we might be able to help you with planning, preparation, and communication for your business growth.

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