Bloggy Business Today

“Customer retention” is very vital in every business institutions like banks, drug companies, foods and drinks companies. Satisfied customers are the best source for new business.

There are advantages for giving importance to customer retention. Firstly, by introducing a reputable company providing quality products will guarantee satisfaction and results to repeat orders. Secondly, by giving excellent service is rewarding and satisfying for a customer which will motivate them to be loyal users of the company’s products. Thirdly, creating a database geared towards building relationship with customers. Such database will be used as reference to their buying cycles and other information i.e. greeting important officials on birthdays, company anniversaries, etc. Satisfied customers will be the walking advertisement and will be the best source of endless referrals.

A bank manager was assigned to an out-of-town branch and was challenged to increase its depositor base and cash deposits. Being a stranger in the area, the very first thing that the manager did was to pay a visit to influential families in the area. The objective of the visit was to introduce the bank and the services its offering. Aside from the traditional services, it offered pick-up services to distant companies within its territory. In less than a year, the branch’s customer base satisfactorily grew in number as well as its deposit base.

One of the key factors for the growth in business is building customer relation. The bank manager also attends special occasions of company sponsored programs and community related activities. As a result, happy customers were the ones who encouraged other family members, friends and constituents to avail the services of the bank. The branch became one of the top branches of the bank in a short span.

Event planning is the whole process of arranging an event. The event planner usually handles the preparation of finding a reception (researching the best place for the event); date of the event, budgeting, coordinating of transportation, arranging of food, decoration and entertainment, planning event activities and any needed support relative to the approved contract.

There are many possible market opportunities for the business. Those who are celebrating weddings, reunions, birthdays and anniversaries, conferences, meetings, graduations, fashions shows, memorials, civic events and any occasions that be needing the service of a professional event planner.

Ways to set-up event planning service:

1. Attend workshops and seminars, these will help you enhance your talent, capabilities and be updated with the business trends.

2. Choose the best business name; it will represent your company to the industry, think something that can register to the mind of the customers

3. Set-up your office and secure any required business permits; be prepare with your basic office equipments, specifically computer, printer, landline, fax, scanner etc.

4. Finalized what are the services included in your company, it is good that before you start the transaction, both parties understood what are the scope and limitations of your service.

5. Manage your costing and pricing, if it is hourly, flat or per project, per person and the terms of payment.

6. Planning and tracking your financial capability, inclusive of start up and future expenses

7. Research and maintain contacts with the following professionals: hotels, restaurants, caterer, florists, printing companies, giveaways maker, video maker, photographers, musicians and sound-system rental companies. Regular contacts with them may also help you to get some referrals.

8. Start promoting your business, think of different ways to promote your business, you can register your company name to yellow pages, online directory, posters etc.

9. Conceptualize your promotional materials. Be creative and resourceful.

The line of business considered as a fast paced, that is why it is stressful. It is a very demanding job, event planners are meeting different clients at the same time and usually do have the same date of deadline. Focus and good time management are some of the requirements by those who are planning to set-up the Event planning service.

Incoming search terms for the article:

• scope and Limitations of Event Planning
• set up an event planning business