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Mobile Apps - Attract More Customers And Keep Existing Customers Coming Back Often Spending More A recent 2012 Harris Poll reported that the majority of consumers surveyed planned on reducing their spending on dining out occasions. And in a 2011 market research done by The NBD Group, a leading market research firm for the Restaurants and Food Service Industry, the company determined that "U.S. restaurant industry visits declined from 62.7 billion in 2008 to 60.6 billion in 2011 and independent restaurants accounted for 87 percent (2 billion) of these traffic losses". See it here Dines app discount
During this period, more than 7000 independent restaurants closed their doors! While these findings pertain to the restaurant industry, they unfortunately reflect the sad situation that many consumer oriented small to medium sized businesses are experiencing. The surprising fact about these findings is that most large consumer oriented businesses actually increased their market share during this period! And as a result they have accumulated an unprecedented amount of profits and cash not seen since the Clinton era economic boom! So what are they doing to increase their market share, attract and retain their customers or get them to come back more often and spend more? What lessons can small to medium sized businesses learn and adopt from the majors without breaking the bank and maintaining profitability? The bottom line is that the large consumer focused businesses have learned to change and adapt to the and marketing landscape. The most important marketing strategies that are being used by the majors are as follows: Customer Data: They have learned or are learning to better integrate customer data capture across ALL their marketing channels (newspaper, radio, TV, billboards, internet, social media, etc). They have found a very simple way to tie all these advertising channels into a single, integrated database from where coupons, specials, loyalty programs are directed at their customers. Small to medium sized businesses typically keep their customer data in several, separate silos that do NOT talk to each other and therefore reduce overall marketing spend ROI. They can use these same inexpensive strategies to attract new customers and get their existing customers to spend more with them and improve profitability. Identifying, Influencing and Rewarding Customers: Most small business marketing professionals report that the main way consumers find and decide whether to patronize them is based on a positive word of mouth recommendation from a close contact in their social sphere. However, when it comes to identifying, activating and rewarding those customers who have the most authority to drive recommendations, there has been a significant lack of information on who those individuals are and which simple, inexpensive and easily available tools to use to encourage them to do what comes naturally. Mobile Apps: Your Customers: Social media has made getting to know the brand much easier and connecting with current or potential customers has been a simple communications evolution for small business. However, customers are now demanding more: They want to get up close and personal with the business! Small business professionals must create the perception of intimate connection and communication with their customers. The successful large businesses are increasingly using mobile marketing and mobile apps, described by the New York Times as the "Most Effective Media Ever Invented" to perform this crucial marketing task and are the ones grabbing market share from small to medium sized business. Mobile Apps: Coupon Personalization: In 2011 many small businesses experimented with social coupon sites such as Living Social, and others. Unfortunately, many reported neutral and often negative results. The main reason for these poor results is the lack of control that this third party resourced customer experience imposed on the businesses. Many were unprepared for the deluge of customers that swarmed their business, and they found out belatedly that the discounts negotiated sometimes resulted in losses or poor customer service experience! Again, the most effective and profitable businesses are using a cost effective mobile apps marketing, coupled with a selective and personalized strategy to grab market share and improve profitability.