NET-TECH REPORT: 7 Ways To Leverage Technology and Stay In Touch With Your Customer

Net-Tech Report with Chris Kauza

It's often been said that the cost to maintain and gain new sales from your existing customers is often significantly less than the cost of gaining new sales from brand new customers. Personally, I think you should do both - and here are a few quick tips on how you can too, without a lot of extra time or effort.

You can use these four, low-cost ways to strengthen your relationship with your existing customers:

• Newsletters - these can be sent out on a pre-determined schedule. I tell my clients that they should send out shorter newsletters with more frequency, rather than longer ones only once a quarter. Why? If you remain "top of mind" with your customers, they will be more likely to reach out to you when they have a question. What should you include? News about your company, information on trends that affect your customers, new products / services you may be investigating (and asking for their input), announcements of success that your customers have achieved...you're only limited by your imagination. And while you don't always need a professional copywriter, you should consider working with one. You know your business than anyone else, but a professional copywriter knows how to communicate that to others better than you do.

• Coupons and "Specials" - everyone loves to get a deal on something, regardless of the product, service or price point. Are there certain times when your business is slower than others? Consider publishing a special for existing customers only through different channels - include it with a monthly invoice, use a special "email blast" to your customers, or Tweet about it on your company's Twitter account (you've set that up already, haven't you? If not check out these earlier posts where we discussed some of the benefits of using Twitter in your business).

• Conference Call and/or Webinars - a well-used vehicle in the halls of Corporate America, the ubiquitous "concall" has now come to the rest of the world. There are a number of companies and services that can provide your business - regardless of size - the power to simultaneously reach hundreds of customers. Many companies use them to introduce new products or services and "pre-sell" their customer base prior to the product's or service's launch. You can also use them for monthly or quarterly focus groups (sometimes called Customer Councils).

• Your existing phone system - do you have tips on how to better use your products or services? An upcoming appearance or webinar that might be of interest to your customers? A limited promotion you are running for your product or service? Make this your "on-hold" music while your customers wait to speak with you.
  

What about attracting new customers? As bad as things might be for your company now, this is a temporary lull with new opportunities right around the corner. There are trends building right now, for which you can position your company to be the expert. How do you find these? Here are three sources to start with:

• The U.S. Federal Government -Did you know that in 2003, Americans spent approximately 8.2 billion hours and $320 billion filling out paperwork and complying with government regulations? Here's how you can put some of that investment back to work for your business. Look through their statistics pages and research how things are changing in your markets. Look for new markets where your products or services might be better positioned.

• Universities - a great source for demographic data is CensusScope, a University consortium that compiles and provides demographic data. They've done all the work for you - all you need to do is to read it and apply it!

• Your Local Library - specifically, the Reference section of your local public library. Ask for the Reference Librarian on duty; you will be amazed at how much they want to help you! Ask them for their help in accessing the "Reference USA database". This is a free information resource that is provided in partnership with InfoUSA - the largest provider of list information in the United States. You may have used them if you have used InfoUSA, SalesGenie, etc. to generate any kind of prospecting list for your company. The information you will find here is generally dated (by about a quarter) - but it's free and usually "good enough" for most companies - regardless of size or budget. While you will be limited to a certain number of downloads per session, you can use it to generate targeted lists of hundreds of prospects for your business very quickly - and all for free!

All of these technologies can be applied with little or no additional expense, and are very easy to use - but you have to make the decision to use them. Pick two to start with this month and apply them to your business. The information is there - you just have to act on it.

Do you have a business-related question but don't know who to ask? I can help! Contact me at Chris "at" AskABusinessGuy dot com, or follow me on Twitter at @ChrisKauza.


For more information, please visit Chris' TNNW Bio.

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NET-TECH REPORT: 7 Ways To Leverage Technology and Stay In Touch With Your Customer

The X-Factor: Networking The Gen-X Way

By Maria Elena Duron
Multi-Cultural Networking Editor

If you ask someone to define the word “network”, you might get different answers depending on who you’re asking. In 2004, the American Institute of Architects (AIA) held a conference about Generational Learning Styles and in their Generation Gap Game, this question was asked. If you were talking to a Traditionalist, he/she might say that a network is something that a fisherman does. A Baby Boomer, on the other hand, might think that you are referring to a TV station. A Gen X-er would probably tell you that a network is the act of establishing a circle of business contacts. And finally, a Millenial is likely to tell you that a network is a work or home-based interface system which allows multiple users at different computers to link in order to share data. And that’s just one word with four different meanings for four different generations. Today, with the existence of so many social networking sites, I can only help but wonder whether Generation X had something to do with this kind of networking.

So, how does a Gen X-er build a network? I tried to make a research on this by reading books, browsing the web, the works. But I was not able to find a single article defining how Gen X-ers build relationships. However, if given a closer look, their characteristics and values define how they do this thing called networking.

Gen X: The Original Internet Babies. If you think that the Millenials are the real internet kids, think again. The first users of the internet are actually the members of Generation X. The X-ers were among the first to communicate with friends and colleagues via email. In a study conducted by the Pew Internet and American Life Project, it was found that about 87% of Gen X-ers use the internet for various activities like communicating via email and instant messenger, purchasing things, job hunting, as well as getting news.

The Latch-key Kids Who Didn’t Want To Become Like Their Parents. This generation was also known as the “latch-key” generation since most of their Baby Boomer parents were busy at work. The latch-key kids are now parents and didn’t want their own children to experience the same treatment they received from their parents. As a result, most Gen X parents are very hands on when it comes to their own kids: attending PTAs, recitals, field trips, and other school activities. Through these events, they are able to build network with the teachers and their co-parents.

X-ers like to have some fun at work. The members of generation X love social events. That’s why when there are parties and other company events; you can expect that they will be there to join the fun. Aside from the fact that these events help boost their morale and cultivate team spirit, it is also an opportunity for them to mingle with their colleagues, bosses, as well as clients. Aside from social events, they also work more smoothly with peers than with their bosses. Thus, there are more and more X-ers who volunteer as mentor among their peers.

Gen X wants work-life balance. As opposed to the myth that Gen X-ers are slackers, these people actually think that their career is important. But when it comes to family, X-ers are likely to prioritize their family over work. "Members of Generation X appear to place a much higher priority on personal and family-related goals than on their career goals, "says Dr. Paulette Gerkovich, Chair of the Catalyst Award Committee from Boston College and an expert on glass ceiling issues. In her study about Generation X and their work-life values, it was found that, "84% of the respondents stated that it was extremely important to them to have a loving family, 72% indicated that it was extremely important to have a relationship with a significant other, while 79% responded that it was extremely important to enjoy life." Aside from their families, Gen X-ers tend to have very strong peer relationships. This may be due to the fact that they were once latch-key kids and that there was a spike in the number of divorced parents, friends became increasingly important so it’s no wonder they value their personal relationships over their careers.

Great network, so what? Building relationships doesn’t just stop there. The members of Generation X actually use their network for so many reasons. It may be as simple as finding a great tutor for their kids or getting a new job. This generation proved that a network isn’t just about a computer network, or a fish net, or a TV station; more importantly a network is also about relationships. Just like what a Gen X friend would always say, “At the end of the day, all that matters are your relationships.” Good point.

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The X-Factor: Networking The Gen-X Way