How to Price a Product That Your Sales Team Can Sell

A good sales time, like the one at tow truck oakton va, works as a high-powered engine. To look for leads, filter those leads down a pipeline and convert them into prospects. However, for sales to happen, your products must be properly priced. The way you set prices for your products and services will have a huge impact on your business. On average, a 1 percent price increase can result in a 9 percent increase in operating profits. Even the smallest changes can yield significant results. New companies often struggle with finding the right pricing. Here are some of the most vital and notable strategies such companies can apply, to ensure they get the results they need.

Identify the value of your product

You need to start by figuring out if your product provides transformative replacement value. Replacement value is created by substituting the existing way of doing something with a slightly better one, which may be cheaper, have superior features, among others. It is typically an improvement in the process, and you will essentially be helping the customer to perform the same functions as they were doing previously, but this time around, in a better way. Transformative value is created by changing the existing way of doing something, to opt for one that eliminates the need for the old process. It is an improvement that makes the way you were previously doing things to be almost irrelevant.

The first step in pricing your products is to think about what type of value it will create for your customers, as well as when that value is created. Let’s say you used to sell software tools for creating video content. This time around, you could position the product as an easier way to produce video content. Additionally, you could position the same as a tool to create a library of videos that are used to find answers to what customers are looking for. Replacement value is normally faster to realize because it solves a problem customers already have, by using a process they are familiar with. In case you are creating a new product category, think about how effective and user-friendly it will be to your customers.

Focus on Economics

You must evaluate the unit economics. Unit economics defines the costs and revenues associated with the sale of a single product. This number will often fluctuate so when pricing your product, look at the margins. If you have a low margin, will you generate enough revenue to cater to all the processes involved in getting the business up and running? Your margins will determine if you can afford to pump more money into research, product development, sales as well as marketing. A tight margin might not be a bad thing when trying to establish yourself in the market, but with time, you should work to ensure you make processes better and better with time.

Understand your competition

Once you have a good understanding of the value you provide and the unit economics of your business, it’s time to take a bigger look at your market outlook. Analyze the price points of other companies and prospects you buy from. Which competitors have the highest quality and how do they price their products? Once you have an understanding of where you stand in the market, position yourself to capitalize and close on any gaps that exist.

Organizational Structure Every Company Should Consider

Picking the best organizational structure for your company, division as well as the team is not like picking a tow truck for your use. It calls for a lot of research in knowing what you need and deciding how you need to go about it. In the world of organizational structures, the options you will have to choose from will include aspects such as chain of command, a span of control, and centralization, just to name a few.


Organizational Structure

An organizational structure is a visual diagram of a company that describes what employees do, how they do it, and whom they report to. It defines how decisions are made across the business. Organizational structures can make use of functions, products, markets, and geographies to cater to the specific needs of a business.

As a company gets bigger, organizational structures can be helpful for new employees to learn who manage different aspects of a business. There are different elements included in organizational structures and these include the following;


Chain of command

The chain of command defines how tasks are delegated and work is approved. An organizational structure allows you to define the chain or ladder a particular department should follow. It tells whom to do what. It defines how issues, requests, and proposals are communicated up and down the ladder.

Span of control

The span of control defines two things. These are; who falls under a manager, and which tasks fall under a department’s responsibility. There is also the issue of centralization.

Centralization describes where decisions are ultimately made. Once you have an established chain of command, you will need to consider which people and departments have a say in each department. When deciding on the organizational structure to follow, here are some to narrow on;


Mechanistic Structure

Also known as bureaucratic structures, they are structures known for having a narrow span of control as well as high centralization, specialization, and formalization. They are also quite rigid in terms of what specific departments are designed and permitted to do for the company. They may have a short or long chain of commands that is quite clear on what should be done.


Organic Structure

Also known as a flat structure, this structure is known for its wide span of control, decentralization as well as low specialization. It is a model that might have multiple teams answering to one person and taking on projects based on their importance and what the team is capable of, rather than what the team is designed to do. The flexibility of organic structure can be extremely useful in helping businesses achieve faster growth.


Functional organizational structure

One of the most common types of organizational structures is based on common job functions. An organization with this type of structure would for example group all marketers together in one department and group all salespersons together in a different department. It would also group all customer service people in a third department. The leaders of all these departments would ultimately report to the CEO. The functional structure allows for a high level of specialization for the employees.

Understanding the Work of a Customer Service Manager

Are you a customer service representative interested in becoming a manager?  Do you believe you have the experience and drive required to be successful? A customer service manager at Kettering towing service is tasked with communicating with inquiring customers, answering support and service questions, following up cases, and providing answers and solutions to all matters of customer service. It may seem like a simple task, but its more that it seems on paper.

Customer Service Job Description

A customer service manager is one in charge of fostering a productive environment on customer service teams. Customer service managers are tasked with overseeing the performance of their employees to ensure the team is keeping up the pace with service demands. These managers often have a high level of understanding of both customer and business needs and have the ability to come up with solutions for both parties.

The primary work of a customer service manager is to ensure there is a retention of profitable customers by providing added value to their customer experience. This can be done by instilling in employees the need to actively listen to their customers and be fully empathetic towards their problems, and additionally provide worth solutions to their problems.

Among the tasks of a customer service manager include;

–         Enabling the service team to be customer-centric and providing an amazing experience, and additionally doing everything possible to keep them accountable as well as removing roadblocks.

–         Having a high-level familiarity with an organization’s products and escalating customer issues to the right teams to have everything solved.

–         Measuring and reporting to other stakeholders regarding the efforts and success of the customer support department.

–         Continually reinventing and re-engineering ways that contribute to improved performance and efficiency on matters of customer service and service delivery.

Daily Tasks of Customer Success Managers

There is a lot of weight placed on the shoulders of customer service managers. They are responsible for delivering a high-quality customer service experience. They work through organizing and motivating service representatives and managing huge volumes of cases. They lead in the front line on issues of support and service delivery and ensure both employees and customers are at their best to succeed.

They are tasked with maintaining a long-lasting relationship with profitable customers. They always strive towards acquiring new customers and retaining existing ones. To always maintain a high value for their customers, they have to personally show them why they need to stick with their company. They must build strong relationships with their customers to increase lifetime value.

Customer service managers are also tasked with hiring and training customer service teams. They are responsible for overseeing the hiring process when there are positions that need to be filled. They will read through applications, interview candidates, and make important final decisions on who to bring on board and who to dismiss. Upon hiring, these managers ensure the new representatives are properly trained and are equipped with all relevant tools to be successful. They will continue to support their teams by answering key questions and being resourceful throughout.








How to Identify Untapped Markets

mind mappingRegardless of the business you are involved in, it is very important to evaluate your market and its potential competitors. That is the same thing I did when venturing into pressure washing business. To make it in business, you need to identify segments that may be your potential competitors have missed, or just untapped opportunities that might have been challenging to conquer. To achieve the best market research, you need to assemble a team of employees who work in different departments or sectors and subject them to a set of interview questions to gather data.

Mind Mapping

You need to get a team that is able to think about various uses of your product, and write these uses down. Once they come up with an initial list of what you need done, expound it to list even more specific uses of the product. This means during the evaluation stage, you are probably going to come up with a niche sector that you can dominate with ease. When you have the segments you want to venture in, you have to conduct research to see how good and profitable they can be.

Analysis of Value Propositions

You need to determine who your competitor’s customers are, then create customer profiles according to aspects such as geographic, demographic, behavioral and psychological characteristics. After this, you need to write down the value proposition of your competitors according to cost, technology and service. Then, you have to look at your own value proposition according the similar categories. Evaluate if your value proposition address the needs of your customers.

Pre selling

Pre selling is simply selling before the sale. Making pre sales can be very important as it helps in determining the demand of your product in a narrow niche. You need to create custom branded items or even discount coupons that are tied to a large niche. Pre selling can be very important of you are venturing in a market that you are not sure of customers.


You need to get everyone shouting your brand as this is the only assured way to grow fast. The first thing to getting branding right is to ensure you choose the right name, elements and logo for your business. Your business caption should be easy to remember and captivating. Get your team to rally behind you to ensure that they promote the components of your brand.

Listen to Potential Customers

It is always very important to listen to what your customers want. The needs and wants of your customers can help you in determining what services you need to offer to them. Clients want service providers to tackle their pain and offer them solutions that release the burden they suffer. When a potential customer gives you insights, you are better placed to understand what to offer for your business. You need to understand that no product is 100 percent ready at initial launch. Work with what you have and improve it. When your business is picking well, think about ways to scale it up.





How to Deliver Top Notch Customer Experience in Simple Steps

customerBusinesses such as Fairfax Tow Truck are always looking forward to creating an exceptional customer experience. If these experiences turn to be unforgettable, a business ends up turning ordinary customers into very loyal fans. What businesses need to know is that there is no one-size-fits-all recipe for creating an incredible customer experience. Every brand is unique, same to every customer as well.

When looking forward to creating exceptional customer experiences, there are some sure ways to go about it.

Use technology to create top-notch customer support

Any customer experience doesn’t end with a purchase. After a customer gives you a purchase, that should not be the end of the business. Customer support plays a key role in ensuring the satisfaction of a customer, and the overall customer experience. You need to devise an extended essential service that comes after a sale.  The only way to realize that is by leveraging technology. There are essential tools that are very important in providing a great customer support. These include- mobile customer support, live chats, self-service management, social media support as well as Omnichannel support.

Create personalized experiences

Customers expect to receive instant gratifications because everyone wants to feel special. Everyone wants to receive some form of personalization that makes them feel special and valued. You need to treat your customers like you value them by offering and creating personalized messages, offers and communicating with their individual needs. Research shows that today’s customers are more likely to make purchases based their past browsing behaviors and purchasing patterns.


Leverage Big Data

You need to leverage big data to get to know your customers on the very basic level. There are millions of data about individual customers who engage with brands but unfortunately, brands do not know where to find this data, how to gather it, and how to translate it into meaningful insights. You need data on various customer issues including behavioral, contextual, service interaction as well as social behavior.

Reward customer loyalty

loyaltyYou need to reward customer loyalty to foster the ambassadorship of your brand. Brands need to leverage and up their loyalty programs by offering better digital experiences when it comes to rewarding programs. You need to look at all mechanisms that promote customer loyalty, build customer trust and attract customers. You need to provide customers with tools and apps that monitor their rewards, as well as making it easy for them to earn and redeem rewards.

Exceptional services

You need to provide unrivaled services and stay ahead of the game. There are those companies which as legends when it comes to offering customer service. These companies are well known for offering things such as hassle-free returns, personalized interactions as well as making customers feel great. The first step to offering exceptional services lies on thinking about what you want out of customer interactions. You need to make a personal connection with your customers by being so warm and friendly to them. When you have to help them, call them by their first name and make them feel special.


Simple Customer Retention Strategies that Work

customerManaging customer retention rates are very important for the growth and sustainability of any business. Customer retention deals with how well a company aims to keep its paying customers over a period of time. The purpose of any business is to make and keep a business – this is all that retention deals with. If a business has a low retention rate, it is doomed as customers will not express loyalty. The cost of retaining customers normally costs less than acquiring them.

There are various strategies a business can apply when looking forward to retaining its customers. Notable of these strategies include;

Stand for something

Customers have a higher chance to ignore a business or company that doesn’t stand for something. If you want to create real value for your company, you must work on your brand. To get loyal customers, you need to create real connections with them. You need to define what you stand for, and what sets your business ahead of others. You need to offer differentiated solutions.

Positive social proof

We are all social beings and as social beings, humans tend to focus their attention on the advice and reviews they get from others. A positive social proof such as testimonials presents a very effective strategy for getting people to listen to what you have to offer.

Use words they love to hear

Using words customers love to hear is a very powerful customer marketing and education strategy that can help your business. If customers do not enjoy your education, sales process, and marketing, they are most likely not going to do any business with you. Not all words are created equal – some encourage customers to buy more than others. Words such as Free, New and instantly have powerful effects when it comes to sales.


ReciprocityYou need to deliver surprise reciprocity as well as delight. Reciprocity is an effective strategy that keeps your customers forever indebted to your business. Give customers some free gifts and show them some acts of kindness, and they will all want to be associated with your business. However, you should not overspend on delight. It can be costly to hand out many discounts and freebies. For that reason, you only need to embrace the art of creating reciprocity through small and thoughtful gestures.

Thank you

You should not underestimate the power of thank you. There are companies such as Zappos that are well known for expressing gratitude their customers using handwritten snail mail. Thank you notes are very important in ensuring that a connection is created between your customers and your business.

Service Delivery

There is no way you are going to attract and retain customers if you offer low-quality services. You will not be able to build customer loyalty without offering exceptional customer service. You need to accept that speed is very important and secondary to quality. You also need to know your customers. You need to understand that customers do not want to feel rushed or ignored. You also need to choose the right platforms in your service delivery to customers.

How Customer Support Management Can Improve Profitability

Employees working in a call centerAny successful business knows the importance of customer satisfaction. Customers are always interacting with your business be it through mobile apps, company website, using emails, on their phones, in person or just any other method. But the big question you need to ask yourself is whether those experiences they are getting are forging a bond or driving them to look for alternatives.

When you want to understand your customers better and offer a differentiated solution, you need to employ the use of customer support management systems. A customer management system helps in many ways including;

Creating a customer-centric culture

The best way to go about it is to reward customers and employees for superior customer service. When you offer any product to a customer that is not good enough, you need to try and compensate for services that did not stand out. You need to have metrics and models for sharing customer experiences. You need to review customer experiences and projects and keep on monitoring progress to ensure that customer service doesn’t go low.

Business control and customer experience

A customer management system gives the lines of business control of customer experience. A coordinated approach to customer experience is one that is built from the ground up. Your main aim is to ensure that customer experiences don’t sound just like another corporate initiative.

Tame channels and Data

Customer experience can be challenging due to issues such as system integration, organizational structure, and channel complexities among others. To solve these issues, there is a need to implement multi-channel management. Additionally, it is very important to embrace new channels such as social media, video, and mobile.

Application of Analytics

Leading-edge companies are now embracing new technologies and processes in the performance of tasks. More effectively, they are applying analytics in every sector of business. The importance of analytics cannot be understated as it helps in creating organization-wide customer experience standards, analyzing cross-organizational customer insights and mapping customer interactions within organizations. Leaders also recognize the importance of emerging analytical technologies as they are very important in analyzing online behaviors and social media management.

The importance of customer support management can’t be understated. As a business, you need to be clear about what you are trying to accomplish and take time to achieve the best. Prepare for everything from marketing, employee satisfaction, employee training, offering a rewarding customer experience among others.

Why You Need an ERP Software for Your Business

Business analyticsTrying to keep a business or company running smoothly is not an easy task. For businesses to run effectively, they need some form of automation. This automation can be achieved by acquiring vital business software, what we mostly call ERPs. ERP stands for Enterprise Resource Planning, and it is simply a piece of software that helps businesses in managing their backend processes. Processes being managed include anything from finance, accounting, supply chains, procurement, inventory, Human Resource among others.

The use of ERP is very important in helping the business achieve success in various sectors including;

Financial Management

Having a vivid picture of your finances is very important for any successful business. An ERP is very important in managing all your financial needs such as budgeting, dealing with expenses, recording transactions, overseeing assets and measuring cash flow. A good ERP system will help in organizing your finances and keeping them in check. ERP systems are very important in offering a clear picture of your company’s fiscal health and presenting opportunities to maximize profit.

Supply chain and operations management

For those businesses that heavily rely on materials coming in and products going out, it is very important that you manage the supply chain. The success of a business is greatly determined by its supply chain. There is the need to track all supply chain communications through a consolidated system and eliminate all chances of error. An ERP system can help in keeping all things in order including automating tasks, placing orders when necessary among others.

Project management

Project managementAn ERP system is very important in giving users an accurate and real-time overview of an entire product lifecycle, right from the quotations issues, to production, delivery, invoicing and collection. If a business is in the process of manufacturing a product, it is very important to keep employees informed at every state and keep tabs with the timings. An ERP system can be very important in helping with monitoring the progress of numerous projects and defining their deliverables.


Business Intelligence

Business intelligence is a key factor of ERP systems. Native ERP systems help in tracking progress, measuring performance and producing in-depth reports. ERP systems are centralized in nature and that means all your business data can be accessed in one place. This means you have a lot of information to analyze, that you can use to make business decisions and track business success. By use of business intelligence tools, you can customize your dashboard and allow businesses to get greater insights.