Importance of customer loyalty Customer loyalty is vital for any business’s success. Loyal customers not only make repeat purchases but also act as brand advocates, spreading positive word-of-mouth about your products or services. Studies have shown that it is more cost-effective to retain existing customers than to acquire new ones. Customer loyalty can result in increased revenue, as loyal customers tend to spend more and make more frequent purchases. It is essential for businesses to focus on cultivating and maintaining strong relationships with their customers to foster loyalty and ensure long-term success. Understanding referral programs Referral programs are a way … Continue reading 5 Innovative Ways to Boost Customer Loyalty Referral Programs

Understanding the basics of online referral systems Online referral systems are used to encourage current customers to refer new customers to a business. It is a cost-effective way to gain new clients by leveraging existing relationships. By offering incentives or rewards for referrals, businesses can tap into their network to attract new customers. Referral marketing is a powerful tool for expanding a customer base and increasing sales. Benefits of implementing an online referral system Implementing an online referral system can boost your marketing efforts significantly. When your satisfied customers refer their friends and family to your business, it can lead … Continue reading How to Maximize Your Marketing with an Effective Online Referral System

Calculating Customer Acquisition Cost (CAC) In the world of business, understanding the Customer Acquisition Cost (CAC) is crucial. It’s like having a compass that guides you through the vast ocean of marketing and sales expenses. In this blog post, we’ll dive into what CAC is, why it matters, and how to calculate it effectively. What is Customer Acquisition Cost (CAC)? Customer Acquisition Cost (CAC) represents the amount of money your business needs to spend to acquire a single customer. Think of it as the price tag attached to each new addition to your customer base. The goal? Keep this cost … Continue reading Calculating Customer Acquisition Cost (CAC)

In today’s competitive business landscape, acquiring new customers is essential for growth and sustainability. A well-defined customer acquisition strategy can make all the difference. Whether you’re a startup or an established company, here’s how to create an effective customer acquisition plan. 1. Know Your Target Audience Before diving into tactics, understand your ideal customer profile. Who are they? What pain points do they have? What motivates them to buy? Conduct market research, analyze demographics, and create detailed buyer personas. Knowing your audience helps tailor your approach. 2. Set Clear Goals Define specific, measurable goals for customer acquisition. Examples include increasing … Continue reading Creating a Customer Aquisition Strategy: A Brief Guide

Effective Acquisition Channels for Small Businesses As a small business owner, finding the right customer acquisition channels is crucial for growth and success. In today’s competitive landscape, understanding where your potential customers are and how to reach them efficiently can make all the difference. Let’s explore some effective acquisition channels that can help your small business thrive: 1. Website and Blog Your website and blog serve as the digital face of your business. Here’s how to leverage them effectively: 2. Social Media Social media platforms are powerful tools for customer acquisition. Consider the following strategies: 3. Mobile Marketing Given the … Continue reading Effective Acquisition Channels for Small Businesses

In the dynamic landscape of business, customer acquisition is the heartbeat that keeps companies thriving. Whether you’re a startup or an established enterprise, mastering the art of attracting and converting new customers is essential. In this summary guide, we’ll delve into the basics of customer acquisition, explore strategies to lower costs, and reveal how to leverage your existing customer base for sustainable growth. 1. What Is Customer Acquisition? At its core, customer acquisition is the process of enticing potential customers to buy your products or services. Imagine it as a journey with three critical steps: The overall cost of these … Continue reading Understanding Customer Acquisition: A Brief Guide

As a consumer, we often search out deals in order to save time and money, especially during the holidays because we are usually buying for family and friends and not just ourselves. Regardless of the types of deals we seek, we want to know that we are going to have a great customer experience and save money. We often go even a little further and think of family and friends who might enjoy the same experience and save the same time and money. In our quest to find deals, we often get online and do searches based on the area, product or service … Continue reading Supporting Small Business during the Holidays

In life, we often do things by habit. Whether taking a certain route to work, buying certain items from the grocery store, going to certain vacation spots or even dining at certain restaurants. If you think about it, we are … Continue reading Supporting Small Business should be a habit!

The theme of this blog over the last few years is customer referrals and its importance to small business. There are over 33 million small businesses operating in the US, with a vast majority of these businesses often have 5 employees or less. The key to growing any small business is to have constant brand awareness and brand exposure. Businesses of any size need the purchasing public to be promoting their business to others and to keep those existing customers. This factor is especially important for small businesses who don’t have large marketing budgets to create awareness. The importance of … Continue reading When it’s time for your Small Business to have a “Formal” Customer Referral Program

Providing Your Customers A Solution to Refer Your Business. Continue reading Providing Your Customers a Solution to Refer Your Business

When running a small business, it is super important to know your customers, their specific needs and spending patterns as well as anticipate how an uncertain economic environment can have on your business. Planning is important to anticipating certain business events, but the hardest part is anticipating how your customers, both current and future, will react to how the economy is affecting their household. When the economy is having an adverse effect on spending, consumers more than ever, rely on discounts and promotions to help mitigate the loss in their purchasing power. The focus of this blog is understanding the … Continue reading Understanding Consumer Behavior

When starting or even running an existing business and are attempting to reach out to your target niche or expanding into a new niche, often times we don’t really know what marketing channels our customers are located. Finding your optimal marketing channel(s) truly is a trial-and-error experiment for business owners. Some of the confusion can be solved by doing some research based on your industry, age generation(s) you are targeting and other related demographics of your target customers. Having an understanding of where your customers hang out, their demographics and how to connect with them can help you save time … Continue reading Finding Your Optimal Marketing Channels

Customer acquisition and customer retention are both important in today’s economic environment. Continue reading Customer Retention is Just As Important As Customer Acquisition – Especially in 2023

Being an entrepreneur can be very difficult to say the least. You are assuming that you can solve a plan for a certain niche of the population and you believe they will regular need that problem solved and are also willing to pay you to solve that problem. It could be anything from being a retail store, restaurant, lawn care company, mover, pet groomer and the list goes on and on. The key is to understand your potential customers pain, your claim and their gain. Let’s briefly take a look at each. Pain – in today’s high inflation economy, everyone … Continue reading Pain – Claim – Gain

It’s April 2023 and we are 1/3 into another year of uncertainty. Inflation still has a grip on the country, interest rates are keeping consumers from purchasing homes and home inventory is at a all time low. Consumers are experiencing shrinkflation and seem to be getting less and less for their money. You still need customers for our business and it seems as though everyone is looking to save time and money in some form. As a business owner, how do you offer savings to your customers while continuing to grow your business? How do we know where you customers … Continue reading Start being where your customers are…

In today’s high inflation environment, customers are more actively searching for ways to squeeze more value out of the goods and services they purchase. What are some of the things you are doing to create more value for your customers? When consumers become stretched in their time and money, they tend to seek out ways to create savings in both. As a business owner, there are ways that you can become the superhero for your customers by providing them the relief that they seek. It’s important to consistently remind yourself that your business exists in order to solve a pain … Continue reading Creating value for your customers during difficult economic times

As a business owner, you often wonder what gets a potential customer’s attention. We know the foundation of any business is what pain point you are solving for those you target. It often takes a business multiple pivots to determine their optimal target audience and product. Modern management theory defines a product or service as a medium of value exchange between a user and a business. Once you have determined that medium of value and you know the price point that the market is willing to accept, you have your product/market fit. Sometimes micro pivots are needed to find your … Continue reading Aha moments…

Over the last several months, we’ve decided to take a break and then refocus on launching our tech startup. During that time, we’ve reconfigured our brand, image and messaging. Our mission remains the same, connecting Small Business to the communities … Continue reading Rebranded and preparing for launch!

According the statistics published by the Pew Research Center, approximately 85% of Americans own a smartphone and approximately 79% of those individuals use social media to regularly communicate with those important to them. So how do we use the aforementioned statistics to benefit how you communicate with your target audience? Let’s take a few moments to look at how you can create an inviting customer interaction situation with you and to include those they trust as well. It’s no secret that consumers prefer referrals compared to trusting advertisements. People like to have a source vetted before they begin to trust … Continue reading The technology is there. Why not use it to engage your audience?

When deciding to start a business, there are important considerations in determining if you have a viable business model. The four(4) areas that must be considered are the Problem, Market, Business & Customer. Lets take a brief look at each area and why it is important to address each carefully. Problem: At the beginning and end of the day you have to be solving a problem for your customer. Why would they seek you out unless they feel like you can help them solve their problem? Identify a problem that is mission critical, present in the customer’s every day life … Continue reading Problem, Market, Business & Customer

This is Dealium’s mission, north star and mantra. I grew up with parents who were small business owners when I was in college. As small business owners, my parents regularly struggled finding new customers to patronize their clothing business. As someone who has spent many years working in the business world and educated with a degree in Entrepreneurship, my personal goal has always been to help small business owners solve some of their most pressing problems and issues. My understanding and focus is that people don’t care about your company, they care about their own problems. My goal is to … Continue reading Supporting Small Business. One referral at a time.

If you are a small business owner, you have probably started to notice what is happening in the national, state and even local economy as of August 2022. News networks are reporting that layoffs are starting to occur in particular industries, the housing market is starting to shift back to the buyer’s favor and everyday items continue to be more expensive to purchase every day. With the economy slowing and cost per acquisition rising, engaging customers at scale is critical. As a business owner, how do you react when consumers are obviously seeing the same news and are beginning to … Continue reading The Economy is starting to slow down. Now what?

Do you know why you do what you do?  If you are a business owner, profit is not the correct answer. I believe, as a entrepreneur, its critical to understand why you do what you do as a business owner. We all know “what” we do and “how” we do it. Understanding exactly why you decide to offer a product or service to a particular customer segment is the foundation of all you do. Just like understanding your Brand. Your Brand is what you are. All of your actions and interactions with your customers and potential customers puts your Brand … Continue reading So why, exactly, are we here?

Over the last couple of years, I have personally worked with numerous folks, including software developers, marketers, legal experts and tech consultants. My goal/intent is to create something of value that will benefit my target audiences which are Small Business Owners and Consumers who search for them. The market always has inefficiencies. When you see how things are done and see how more could be done, it should inspire you to want to create a solution that, at the end of the day, solves a problem for your customers. That is what I have done in creating Dealium. As mentioned … Continue reading Launching a Marketplace…

10 Great Ways To Attract New Customers To Your Small Business Here are 10 tried-and-true tips to help you attract more customers. 1. Offer new customers discounts and promotions Consumers today are still looking for value and deals. Lure them into your business by offering introductory discounts, or have specials such as buy 2-get-1-for half-price or free gift wrapping for the first three purchases. Bargains like these can attract new customers who have been considering doing business with you but needed an incentive to actually change their shopping habits. Then track what they buy and which offers they redeemed so … Continue reading 10 Great Ways To Attract New Customers To Your Small Business

Marketing can be a hit or miss proposition. Some ads work well, some have mixed results and some flat out fail. The reasoning is that sometimes we simply are not targeting the right customers with our message. As mentioned in previous blogs, solving a pain point and having a value proposition is vital to your business success. We think we know what customers want but often miss the mark. The key to offering the right product or service is target a very specific niche. The old saying goes if you market to everyone then you end up selling to no … Continue reading Creating a winning customer acquisition strategy

Here are the primary benefits of referral programs. People trust referrals A lot of consumer reports indicate that recommendations and reviews are trusted more than traditional advertisements. And people are four times more likely to buy when referred by their friends. Hit Your Targeted Audience Typically, people often bring up conversations about their favorite products or stores with their friends who share the same interest. Gain loyal and valuable customers The customers referred by their peers already have a favorable opinion of your brand. That is why they are more likely to become loyal customers. Referred customers are about 25% … Continue reading The Benefits of Referral Marketing

What is it about a great deal that makes folks want to tell others? You hear about gas prices being a certain price at a certain gas station and you will tell others. You find a Back to School special and you tell other mom’s. You hear about a great deal on a tool set and you make sure you let your buddies know. Finding a great bargain, especially during these economic times, and you will go out of your way to tell others to help them save money too. Our discretionary dollars are beyond stretched and we are looking … Continue reading People just love to talk…

It sounds simple but you would be surprised how many people will buy from you if you simply provide a great customer experience and then ask the customer to refer their family and friends. You would also be surprised how many consumers are willing to recommend your business if you would simply ask. As a matter of fact, 89% of Consumers would happily refer your business to their family and friends if they received a great customer experience. So why do so many business owners struggle to find new customers? Oftentimes they forget to or are afraid to ask. Lets … Continue reading Those that ask shall receive, if…

So you want to offer a formal customer referral campaign for your business but don’t know how much it will benefit your business, how to set one up, where to go for the referral marketing tools. This blog will briefly discuss all of the aforementioned and why having a customer referral is so beneficial. There are countless statistics on why customer referrals are so valuable. As a reminder, here are a few: 65% of new business opportunities come from referrals and recommendations. 91% of people in the US would share exclusive offers and good deals with friends and family. Referred … Continue reading So how do I determine a referral marketing campaign ROI?

Getting and keeping the attention of your customers can be difficult to say the least. Consumers are constantly bombarded with offers and sales pitches of competing products and services. The Consumer has a problem that they want solved and seek out businesses that can solve that problem with the least amount of friction and often expecting at the lowest cost. The urgency of the problem being solved can vary by customer, of course, with Consumers typically willing to pay more if the fix needed is urgent. We know that when a business is success, other businesses will often try to … Continue reading What motivates Consumers to buy?

Why do consumers seek out deals? The obvious reason is to save money. Regardless of a customer’s financial resources, consumers like to save money. When you give customers the perception that you are saving them time, money and frustration in identifying and connecting with the products and services they desire, it is appreciated. When consumers appreciate what your business does for them, they have a higher tendency to tell others about their great experience. In today’s high inflation economy, consumers are paying higher prices in almost every industry. So what can you do to let your customer’s know that you … Continue reading Creating value is more important than ever in today’s economy

Compared to traditional e-commerce, most of a marketplace’s unique challenges come from the marketplace having two sides to it: customers and providers. When launching a marketplace, this means you need to solve the chicken and egg problem—how to get customers with little supply options and how to get marketplace supply with only a few customers. It can be argued, however, that the problem is not as bad with marketplaces as it is with some other cases—social networks, for example. In almost all cases, it makes sense to start building a marketplace’s audience from the supply side.  Because of this, the … Continue reading Building a Marketplace

Let’s continue our discussion of how effective and value-added customer referrals can be for a small business and the customers themselves. Knowing that we often seek advice from others when it comes to purchasing goods and services, the sheer amount of search time, expense, frustration and sometimes anxiety factors that a typical consumer faces makes using customer referrals exponentially beneficial. Small businesses also benefit tremendously from receiving customer referrals because it often lowers their overall customer acquisition costs, improves their profitability and often increases customer loyalty and lifetime value. Many consumers have come to distrust traditional advertising because they know … Continue reading Eye opening statistics concerning Customer Referrals (Part 2 of 2)

If you are a business owner, you are probably often thinking of ways to engage with new customers. We know about all of the traditional ways to reach out to new customers and what the ROI is for each method. Some advertising methods are more effective and have a higher ROI than others but it should not be surprising to know that Customer Referrals are the most affordable and have the highest ROI of all advertising methods. Customer referrals have been around as long as business itself. Think about what you do when you have a great or even bad … Continue reading Eye opening statistics concerning Customer Referrals (Part 1 of 2)

We know from countless articles, surveys and polls that customer referral programs are, by far, the most cost effective and highest customer acquisition gaining tool available. What’s more cost effective than your current customers telling their family and friends about your business? What accelerates a customer referral is when a customer has an amazing customer experience with your business and they get excited to tell others, such as family and friends, about your business. My personal belief is that a product is successful when a customer has success using it. No ad campaigns, radio spots or FB ads are needed … Continue reading Calculating your Customer Referral Program ROI

Offering customer discounts and promotional coupons are the number one factor in driving customer loyalty. With so many Consumers using discounts each day, it has proven to work in gaining customer loyalty. The more coupons a brand offers, the more likely its customers are to shop there again. Coupons are a great way for retailers to compel customers to buy something. 60% of shoppers love receiving digital coupons, and 50% are more likely to go in-store if they receive a coupon of some sort. Retailers who offer regular discounts and coupons record higher average order volumes from customers who use … Continue reading Offering referral rewards using technology

The title is a pretty ironic question because just about everyone has, and frequently uses, smart devices of some sort. Smartphones, laptops, tablets, you name it, we all have and use them frequently to complete every day and common tasks and help us organize our lives. So how can we use this, as a business, owner to our advantage. Offering your goods and services online and allowing your customers to view, review and purchase your goods and services with their mobile devices is the key to establishing and growing your business. The key is to go to where you customers … Continue reading Which of your family & friends owns a smart device?

We are a few weeks into 2022 and C19 still has the country, markets and sentiment in a mess. Inflation is at its highest levels in 40 years and consumers are scrambling to find sometimes even the most basic of necessities. As a business owner, you still need a plan to how you are going to deal with all of this uncertainty. Product and services still need to be sold, employees and bills need to be paid, as usual. Inflation has affected every aspect of American life and as a business owner you are most likely dealing with labor shortages … Continue reading So what’s your plan for 2022?

Whether you are an aspiring or existing entrepreneur, decisions have to be made or have been made on what pain point(s) your company will address, the niche(s) you will serve and other critical elements to providing value for your intended customers. In order to acquire new customers, which is the theme of the Virely/Dealium blog, there has to be a solid foundation of addressing the issues that mean the most to your intended customers. We will briefly take a look a the four(4) cornerstones of Problem, Market, Business and Customer. As with any business, there has to be a Problem … Continue reading Problem, Market, Business & Customer

Creating a clear and succinct value proposition that is meaningful to all of your business’ stakeholders, including your staff, customers and investors (if any), is one of the first challenges any entrepreneur faces. A value proposition can be defined as follows: “A product’s value proposition is a statement of the functional, self-expressive and emotional benefits delivered by the brand that provides value to the target customer.” The Value proposition is a reflection of the relationship between your customer and your brand. To develop the insights you need to make the decisions around your target customer, your customer problem and the … Continue reading Value Proposition and why it’s important

As a business owner, I’m sure you have requested feedback from your current and even past customers. If you are like me, you sometimes dread being asked to complete yet another customer satisfaction survey, sometimes being asked to do so even before the product or service is even provided. Survey are intended, obviously, to determine what a business’ customers think about the products or services they have purchased from a business. Customer surveys can provide valuable customer satisfaction/dissatisfaction information for business owners in order for them to improve on what they are offering. But how genuine is the information being … Continue reading The difference between your business being liked and being referred

What if you could grow your business without increasing your spending?Customer loyalty is incredibly important to businesses because it will help you grow your business and sales faster than a simple marketing plan that focuses on recruiting new customers alone. … Continue reading Customer Engagement