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February 18, 2014 Written
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
02/18/2014
Guaranteed Financing For Independent Hoteliers
Worry free FF&E,
revenue guaranteed financing. To learn more,
click
here.
NATE's 30th Annual Convention Coming In May
The National Association of Trade Exchanges (NATE) will be convening at
the Double Tree Hotel in Orlando for its 30th
annual convention, May 15-18.
The convention will include a CTB (certified trade broker) training
program, availabilities for sponsorship, and vendor
opportunities for displaying your merchandise.
For more information, contact Raye at
617-763-3311 or e-mail
raye@natebarter.com
Do Words Equal Wealth?
Every person who has attained wealth, regardless of how they did so, had
to speak to someone. And whether your aspiration is to start
a company, acquire a promotion or seal a multimillion-dollar
deal, it's skillful communication that will set you apart
from the crowd.
A new book (Universal Talk Laws: How To Increase Your Net Worth With
Words) covers the power of persuasion, the art and
science of verbal communication — both personally and
professionally —— and how to talk to yourself in
a way that creates opportunity and going out on top.
More Women Are "Marrying Down"
Tying the knot with men less educated than they are is a growing trend
for women, reports the Pew Research Center. Nearly 21% of
married women in 2012 were better educated than their
spouses, a threefold (300%) jump from 1960. In the 50 years
of tracking this issue, it's the first time that a higher
percentage of women than men have married down.
Talent Retention Now Top Priority For Business Leaders
PayScale Inc, a provider of cloud compensation data and software, reports
that businesses of all sizes are concerned about their
ability to retain top-performing employees as a result of
the increasingly competitive talent market. (Retention was
listed as a top business concern by nearly 60% of the
companies surveyed, up from just 28% in 2009.)
The study was based on surveys of more than 4,700 human resources
practitioners and business line and executive managers from
small, medium and large companies in the U.S., Canada,
Australia, India, New Zealand, South Africa and the United
Kingdom.
All
back issues of "From the Desk..." can be accessed by
clicking
here.
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See you next week...) |
BarterNews.com — World's Largest
Depository Of
Barter Information
Hundreds of valuable articles,
techniques, and strategies are found in the following various barter
categories:
Travel,
Media,
Trade Exchange
Corporate Barter,
Offset & Countertrade,
Secondary Capital,
Real Estate,
Community Barter,
Restaurant & Entertainment
(The Barter
Categories are found on the horizontal bar at the top - 3rd
button from right.)
Three Reasons Why Your Trade Exchange Membership Is Priceless
1) Lower Customer Acquisition Cost
Your cost for customer acquisition in the barter marketplace, when
working through your trade exchange, is lower than in the cash
marketplace where you have to hunt and pay for every lead and sale.
Unlike the cash world, your barter business is driven to you through
the various efforts of the exchange and your hard-working trade
broker. You're fishing where the fish are — and that's a major
difference!
2) Greater Customer Retention
Mail-order catalog consultant Jack Schmid says that only 50% of
first-time buyers come back for a second catalog purchase. Ouch! In
the barter world the percentage of first-time buyers returning is
considerably higher. Why? Because we all operate in our own best
interests.
Plus the trade exchange system rewards us for buying products and
services at our "barter cost," which is always the most economical
way to make a purchase. Therefore a trade client is more of a core
customer than a cash-paying customer, and will continually frequent
your establishment if all things are equal.
3) Ever-Increasing Sales
The real measure of a healthy business lies in the strength, depth,
and length of its relationships with its core customers. A satisfied
barter customer will go out of his or her way to increasingly do
business with you — buying more often, as well as placing
larger orders.
Money-Making Reports Available From BarterNews
Is Your Trade Exchange Missing Out On
Valuable New Business?
If
your barter company's listing on BarterNews.com isn't current, you
are definitely missing out on new business. The web site
BarterNews.com receives heavy traffic -- with over 150,000 page-views
every month. Entrepreneurs and corporate executives check the
thousands of articles, the weekly "Tuesday
Report," and the "Contacts
Section" of our site. They use the latter to find barter
companies with which to do business.
Is your barter company's listing up-to-date?
To keep your listing current is very easy. See the links below to (A)
update any changes to your company's listing, such as new location,
phone number, web site or other information, and (B) if your company
has not been listed.
Here's how to get on board:
To
make changes to your listing
click here.
For
new listings
click here.
Economist Says America On Verge Of Resurgence And Dispels Five Major
Myths
Economist Joel Kurtzman, a senior fellow at the Milken Institute,
says America is ready for resurgence. Leading the way will be these
four transformational forces: tremendous creativity (America
produces more creative ideas than any other country), tremendous
energy reserves, reserves of capital, and a re-shoring of
manufacturing.
Five myths about the U.S. economy dispelled:
1)
America is broke: The private sector and the American
consumer are healthier than ever in the last 35 years, according to
Kurtzman. The public side is another story, but it's improving.
2)
High unemployment rates are here to stay: High jobless rates
are concentrated in people without a college education and those
under 25. Unemployment for those over 25 with higher education is
around 4%.
3)
China is ascending while America is declining: Kurtzman says
China is coming of age at probably the worst time in history for a
country that wants to be a manufacturing power. China's strategy
involves having 200 million people working in manufacturing within a
decade, which can't be accommodated. Meanwhile, the U.S. has moved
from a manufacturing-centric economy to a service-focused-one —
a transition that China will eventually have to make and it will be
a very difficult one for them.
4)
America is a spent power: The U.S. is in a great position for
growth because it remains the world's leading military and
manufacturing power, has trillions of dollars in capital to deploy,
and is now less dependent on imported oil given the development of
its own energy reserve.
5)
America doesn't make anything anymore:
Simply not true, argues Kurtzman. America is the dominant
manufacturing power in the world, if you include what we make
overseas. But if you look at just what we make in America we make
20% of everything produced. That's about the same as China, but
China makes low value-added products such as towels and clothing. We
make the big expensive stuff like airplanes, radar, and turbines.
Taking Your Customer From Hell To Heaven In 60 Seconds Or Less
By John Tschohl,
President of Service Quality Institute
Every
company makes mistakes that could cause them to lose customers.
I don't care what business you are in, something will go wrong.
But the smart companies know how to recover a customer and turn
them into loyal customers for life.
However, less than 2-percent of companies use service recovery
techniques — which is pretty sad. All companies make
mistakes; all companies have things go wrong.
Unfortunately, many companies and most employees run for cover
instead of solving the problem.
The
problems are only getting worse, thanks to social media. If
customers aren't happy, they'll post the problem on Twitter and
Facebook. They'll do it fast. Then you'll have a massive public
relations problem that will take time, effort and money to fix.
Instead of handling problems quickly and efficiently, most
employees pass the buck or lie! That's because people don't like
confrontation. Instead of saying they messed up, they might say
the product was shipped.
Companies spend a fortune on marketing. But they don't spend a
dime teaching front-line employees to keep the customer from
defecting. Wouldn't it be better to spend that money on training
employees to handle problems in the first place?
The
most important person is the one who has direct contact with the
customer. Unhappy customers won't call the company president.
They will talk to whoever is in the store or answers the phone.
Those
are the people who need to follow the
5 Golden Rules of Customer
Retention:
-
Apologize and offer a better
option. For example, they might offer
expedited delivery at the company's expense.
-
Act quickly.
They must respond to the complaint within 60 seconds. That's
when the magic happens.
-
Take responsibility.
Most employees shovel the problem off and blame others.
Customers know when they are being passed along the chain,
and they don't like it.
-
Empower employees to make a fast
decision. Each front-line employee should be
able to take action quickly. They shouldn't have to ask for
managers to get an approval or pass the buck to them.
Empower them to take action.
-
Give away something that has high
value and low cost. Customers
will be pleasantly surprised and delighted with your company
if you not only make things right, but make things better.
For example, let's say a customer calls to complain about a
new computer that has a hard-drive crash in the first month.
In addition to solving the problem, you might offer an
extended warranty. It costs the company nothing, but it has
a high-perceived value to the customer.
While I find it hard to find examples of companies doing this
well, here are two companies that stand out from the pack:
If there is
any kind of a problem, they immediately take care of it. I once
had a dirty knife with water stains. I only wanted a new knife.
The waiter apologized and brought me a new knife. The manager
also came over to apologize. He also offered me a free dessert
that cost about eight dollars. The dessert might have cost him
only a dollar but it meant everything to me. Now I tell
thousands of people about my positive experience.
I recently ordered a DVD movie but it
wouldn't play on my TV. I called them and quickly realized that
I ordered the Blue Ray version by mistake. Blue Ray doesn’t work
on my TV. Even though it was my mistake, they offered me two
free rentals. What’s the cost two DVD rentals to them? Nothing.
They turned me into a customer for life!
Very few firms understand that
concept.
Companies should spend some of their money on customer
retention, it is all about creating loyalty and a fan base.
Customers will come back more often and their loyalty is greater
when they have experienced service recovery.
That's how you can take a customer from hell to heaven.
John Tschohl, described
by
Time and Entrepreneur
magazines as a customer service guru and service strategist,
presents strategic keynote speeches to companies worldwide.
He is the author of Loyal for Life.
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The Growth and Use of Secondary
Capital (New Money) Creates Unprecedented Wealth In Today's New Age
Of Possibility
There are many forms of secondary
capital — which can be defined as any financial instrument that
measures and communicates value in a common language. Would you like
to see and learn more about the many forms of secondary capital?
We have 70 free, informative and
inspiring, articles for you in our "Secondary Capital Section."
Check it out...
www.barternews.com/secondary_capital.htm.
Get New Money-Making Ideas And
Valuable Contacts!
You can
obtain useful, informative ideas and contacts in every available
back-issue of BarterNews.
Every
barter company in the world is listed on our web site,
click through to our Global List
of Barter Companies.
We welcome your
comments, questions, and observations.
Copyright BarterNews 2014. Redistribution of BarterNews
content expressly prohibited without the prior written permission of BarterNews.
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