Cash, customers and value

 Business and  marketing review for a hot New Year

A sultry Summer and challenging economic forecasts prompt a timely regard for cool heads and calm action as we venture into the New Year.  A cool approach includes a review of business systems and processes to identify opportunities for increased efficiencies, cash flow and more effective expenditure of both financial and human resources. The following should be included:

Cash Flow – To optimise cash flow ensure deposits are requested and received for all services. Review payment terms – do they need to be shorter? Follow up outstanding invoices.

Customers – Review customer data base. Stay close – communicate with your customers. Cost effective promotional tools such as e-newsletters makes this easy. Consider letting go unprofitable customers and focus on those who are loyal and provide your best returns.

Value – Look for opportunities to provide increased value to your customers. Anticipate their needs, offer useful, extra information to assist their business or simply provide speedy service and small courtesies such as ‘thank you’ notes. These activities, and a genuine enthusiasm and interest in their business will forge closer and more productive and profitable relationships

Difficult times inspire innovation and provide opportunities to do things better.

If we stay cool,  the New Year will be easier than we thought.

 

 

 

 

 

-oo-Anne Sorensen is Director of Marketing Is Us, a specialist marketing consultancy dedicated to facilitating business growth by providing strategic marketing solutions. She holds a Bachelor of Business (Marketing), MBA and is a Certified Practising Marketer with the Australian Marketing Institute. E: anne@marketingisus.com.au

 

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