3 Keys to Better Business Archives - Page 9 of 12

Two Ways to Maximize Profits

Listening to his customers’ goals and watching them learn from their experiences are two of the ways that Don Bush, manager at Powell Feed and Milling, tries to help his customers minimize expenses and maximize their profits. As a BioZyme^® dealer in north central and northwest Arkansas, Don tries to use the proactive approach of reaching out to his customer base and identifying their needs.

“We try to get on the phone with our customers as much as possible to find out their goals and understand what they are trying to accomplish with their operations,” Bush said. They have an outside sales person who also tries to get to each of their eight retail locations weekly to maximize personal contact with the customers as much as possible.

The first way that Don helps his customers maximize profits is with one of his most popular products, the VitaFerm^® 30-13% Protein Tub, which he says his customers appreciate as a complete mineral package.

“It offers a protein source that works really well in our part of the world, and it has a complete mineral package,” Bush said. “When compared to a traditional tub and bagged mineral program, it is more efficient. Research has proven that a higher percentage of cattle consume mineral on a regular basis when it is in a molasses-based tub versus a dry bagged mineral. So, more of the cattle get the mineral and protein they need, consistently. Consistency is very important in rumen health and efficiency. Amaferm^® being part of the package is just like putting a supercharger on a good engine.”

Don says he is excited to market the new VitaFerm Cow-Calf Mineral as a second way to help his customers maximize their profits with a lower-cost option that still offers the Amaferm advantage. When his customers chose a lower-quality product, their cattle don’t perform to their expectations, and they soon realize that the Amaferm advantage saves them money in the long run.

“Amaferm is the key to the products,” Bush said. “The new VitaFerm Cow-Calf Mineral will give us a product to market to producers that offers cost savings without wrecking their cows. This mineral will allow producers to roll back when times are tight, and Amaferm is magic.”

Bush notes that there are multiple ways a complete mineral package saves producers money over time. With a product like Amaferm, producers see increased appetites, increased gains and more productive cows that breed back more efficiently. He adds that a good nutrition programs keeps calves healthy, which lowers vet and animal health bills.

“BioZyme has never had a low-cost option before, and this product should help those producers who want to save money,” Bush said. He hopes that more producers will take the proactive approach to implementing a quality nutrition program, even in tougher times. “This market has caused everyone to tighten their belts and cut costs. But a quality nutrition package will save and make producers money down the road.”

10 Ways to Thank Your Customer

While simply saying, “Thank you” is an essential part of good customer service, words don’t always carry the same significance as actions. It is important to continually strive to show your gratitude to your customers in fun and memorable ways.

We decided to feature these 10 ways to show appreciation to your customer. Each idea for giving thanks must be relevant, noticeable and sincere. If you focus on these simple gestures, your show of gratitude will be a huge hit with your customers.

Write a Note
There is still nothing more powerful than a handwritten note. It’s surprising how rarely this proven way of showing gratitude is actually used. Your note should be specific and personal and will be sure to brighten your customer’s day.
Start a Loyalty Program
Invite your most loyal customers into a VIP rewards program. Customers love the red carpet treatment, which is why prime and VIP membership programs have become so popular. Your rewards program doesn’t have to be complex; it can be as simple as offering customers an annual discount on their anniversary.
Send a Treat
Cookies are a winning idea – liked by all and easy to share. But consider your audience: if your customer is more health conscious, a fruit bouquet might be a better fit.
Show You Value Feedback
Reach out to customers to tell them how you have implemented their suggestions. There is no better way to communicate with a customer than to show you were listening. Let the conversation also be an opportunity to gather more feedback. You want customers to feel they have an open line of communication to you at all times.
Offer a Surprise Upgrade
The element of surprise is a powerful thing. Thank customers with a free spontaneous upgrade. You can pick customers at random to receive a free tube of Vita Charge^® Gel or Vitalize^® Recovery Gel if they buy more than $XX. Not anything that is advertised, just a nice surprise to say thank you and a great way for customers to try new products.
Honor an Achievement
Make your customers feel like they are a part of a big family. Recognize special events in their lives by sending small gifts or handwritten notes. The event could be a major birthday, conclusion of a production sale, etc. The thoughtful timing of your gift communicates volumes and is a gesture that won’t soon be forgotten.
Hold In-Store Events After Hours
Give frequent customers that VIP feeling with an invitation-only after-hours event in your store. Provide drinks and snacks, and use that time to introduce new products or answer questions about products you already carry. For an extra special treat, consider including your favorite local singing talent to setup in the corner of the store and entertain your guests. Note: this event could be considered an Open House or Producer Meeting. Talk to your ASM about scheduling and help with preparations.
Give Some Swag
Customers love promo items, especially those that can be reused like coffee mugs, t-shirts and caps. If you don’t already have promo items with your store logo, BioZyme^® apparel makes great customer gifts and can easily be order by visiting the Online Dealer Center at www.biozymedealer.com
Spend Quality Time Together
There is no need to break the bank with a lavish gift to thank a customer. Schedule a lunch at your customer’s office/farm/ranch or invite them out as a time for you to just sit and listen. Going out of your way to meet people and hear about what they do every day could be a critical learning experience for your business.
Excel at Customer Service Daily
Nothing says thank you for your business better than a friendly, informed service representative. Make sure your sales staff is informed on the products and as ready to help as you are personally when answering the phone or working on the floor.

Show customers your thankfulness today by acting on one (or more) of these ideas or by incorporating your own.

Article Curated from HelpScout.Net

Customer Service Strengthens Relationships and Your Bottom Line

We don’t have to tell you the importance of customer service. You already know how vital it is to the success of your business. But did you know it is crucial to your bottom line as well? Businesses spend a lot of time and effort trying to cut expenses and increase profits. However, a December 2014 article on
Taskle.com says that a 2% increase in customer retention has the same effect as decreasing costs by 10%. Therefore, companies need to focus a lot more on improving customer satisfaction.

The best part of increasing your customer satisfaction levels is that customers keep coming back. These retained customers cost less than new customers. Why? Because you aren’t spending marketing dollars trying to get them in your stores – services you’re already providing are convincing them to come back.

Just what is that returning customer worth? According to an online article on Lireo.com:

Increasing customer retention by 5% can increase your profits up to 125%
Loyal customers are worth 10 times as much as their first purchase on average
Companies who make customer service a priority make 60% higher profits than their competitors

How to Improve Your Customers’ Experiences and Retain Them

Ask your customers for feedback. When you show that you care and that you’re willing to listen to your customers, they will appreciate it and want to give you their business. Really listen and try to implement their suggestions and
feedback, and then show what changes you have made based on their suggestions.
Offer a good mix of products. Make sure you have the products that your customers use the most on-hand for the time of year and the animals’ nutritional development.
Keep your store easy to navigate. Keep your aisles clear and set up a good flow. Keep like or complimentary products together so your customers don’t have to go from store corner to store corner to get the two products they came for.
Train your employees to handle complaints better. Negative interactions spread to twice as many people as positive interactions. If an employee handles a complaint well, the chance of the dissatisfied customer spreading his or her discontentment decreases.

Customer service – it is something we strive to perfect each day, but now that you know it can help your profits, be sure to give a little extra attention to the customers. Your customers will surely notice, and your bank account will too.

Sources:
http://www.taskle.com/how-does-customer-satisfaction-affect-sales/
https://www.lireo.com/how-customer-service-can-impact-your-business-infographic/#keytakeaways

Listen to Customers to Know Their Needs

Kari Schultz of Spring Canyon Feeds knows how important it is to listen to her customers as part of the keen service she provides. And she doesn’t let their words fall on deaf ears. She takes what she hears to BioZyme^® to make sure her customers have what they need so they don’t go buying feed at one of her competitors.

“It’s nice because BioZyme does listen to us and our concerns,” Schultz says. “I try to bridge that gap between the company making the product and the producer using it because if we don’t have the right products, our customers will go elsewhere.”

Schultz recalls an instance where several of her customers requested a mineral tub with a different formulation, including higher levels of magnesium to prevent grass tetany during springtime grazing. Her goal is that the BioZyme R&D team will have this ready to go by next spring so her customers in Eastern Colorado will know that when they speak, Schultz and the BioZyme staff truly do listen.

It’s not just the challenges that Schultz’s customers share with her. She had one first-time customer tell her how pleased he was with Concept•Aid^® after he had 100% conception rate on his two-year-old heifers, an affirmation that Schultz was sure to share with BioZyme and other cow-calf producers wondering about the product.

As an additional resource, Schultz has created a customer information card that she keeps handy for each of her customers that has important information such as herd size, breeding season, calving season, forage availability and other questions she might regularly ask to help customize a feeding program. She says the cards help her know important information about each customer and has allowed her to begin making customized feeding plans for her customers based on their individual needs and other available resources. She says the cards also help her with inventory control by keeping her in the know about her customer needs by time of year so she can have the right product on hand.

Although listening to her customers is just one side of the communication stream, Schultz says she has built trust with many customers because she too is a producer and does a lot of research on her own time.

“Not all products work in certain circumstances, but we have experience and can show the customers first-hand how to make products work for them,” Schultz says. “Because we are producers and BioZyme backs the products, we have built trust with our customers.”

Schultz adds that those dealers who are not producers should take advantage of the opportunities to learn from and listen to their customers. She suggests digging deeper than a casual conversation – walk the bunkline with them, drive a pasture with them and ask them about their forages, and ask what your customer really wants and needs when it comes to a nutrition program.

A customer information card similar to the one Kari uses is now available for you. Visit the Online Dealer Center at www.biozymedealer.com and go to Marketing – Request Center – Marketing and Merchandise Requests to get yours today.

Make the Ask: Planning Producer Meetings

The crisp fall air is upon us; harvest in most parts of the country is in full swing, fall calving is under control, and there is a short break in stock shows. It is a great time for BioZyme^® dealers to start planning and preparing for producer meetings.

Ask – Invite producers

First, as a dealer, you need to set a date, time and location for your meeting. Make sure it is on a day that doesn’t conflict with something else in the area that would diminish attendance, such as a sale or the state football playoffs that your local team is in for the first time in decades. Send out invitations so the producers get them a week or two in advance. And if possible, follow up that invitation with a phone call the day before the meeting.

“It is super important to call everybody you invited, even if you sent them a postcard,” says Dorothy Orts, North Dakota Area Sales Manager. “You won’t have a successful turnout if you don’t call and ask them to the meeting.”

Once you have a date set, be creative in picking a location away from your store. It makes them feel appreciated to see you meeting with them outside of the normal place they do business with you. Orts, and her counterpart in Oklahoma, John Jeffrey, agree that the meeting should be held at a restaurant or a small community building and in conjunction with a meal. Jeffrey says if the food is good, people will show up. And Orts has learned by experience to keep the room small for a more comfortable setting where everyone can hear. She says if the room is too big, the acoustics might suffer, and if producers can’t hear, they are not going to pay attention.

Ask – Encourage interaction

Orts likes to make the meetings interactive and asks questions of the producers to get them involved and relaxed. She then asks for any current customers to provide a testimonial about the BioZyme products, saying that most producers will share their passion at the spontaneous response. And she also makes sure everyone knows about the Amaferm^® advantage.

Allow sufficient time for discussion after the meeting, as most speakers will stay to visit with producers. Both Orts and Jeffrey say what happens after the meeting is often just as important as what happens during. Jeffrey described a recent noon-meal meeting where just a handful of producers showed up. Jeffrey and the dealer sat down with them in a more conversational manner

and people stayed for nearly three hours to learn about the products and share ideas.

Ask – Collaborate with others

It is a great idea to plan a meeting with other groups or businesses with similar goals. Jeffrey says he has piggy-backed with local cattlemen groups or pharmaceutical companies to share costs. When working with a drug company, he says they showed research that mineral usage increases the effectiveness of vaccinations – sharing both messages at once. And with the new Veterinary Feed Directive (VFD), it is timely to coordinate meetings with pharmaceutical companies.

Ask – Follow up

“You just have to ask,” Jeffery says. “You can’t sell something to people if you don’t ask them to buy it.” Jeffrey says when coordinating meetings with dealers, he likes to run a short special for those in attendance, which also encourages the producers to visit the store or place an order within the first week after the meeting.

Orts likes to send each meeting attendee home with a sample of Vita Charge^® Liquid Boost^® because it will likely save one life and help gain customers. Both area sales managers say to follow up and call those who attended.

“No two meetings are ever the same,” Jeffrey says. “Just be sure to ask for the sale. You never know if you will get a new customer that day or two weeks from now.”

Added Value Should Mean Added Profitablity

Having multiple product lines may allow a growing business to diversify risk and capitalize on its established reputation. Multiple product lines can also strengthen competition in its industry, while at the same time enhancing the company’s checkbook.

Certainly after reading that statement, everyone is interested in expanding their products or product line(s). However, while it may be beneficial to expand a product line or bring in a new product within a line, those benefits do not come without considerable work before the sales start rolling in. Please note, any one of these 17 steps could cause the ones before it to be reevaluated making the process at times overwhelming.

First, get an idea of what to expand.
Determine the specific needs of customers in that market segment.
Identify the product features that would be most attractive to them.
Assess the market size and the competition.
Create/formulate the product based on science and market research results.
Get team buy-in.
Figure out the best distribution channels to achieve the highest market penetration.
Determine the price to make sure it will be competitive and profitable. (note: many times this step forces you to go back to step 5 or before)
Test the product to determine its effectiveness.
Create a unique value proposition.
Decide how you’ll position the product in the market segment you’ve identified using that proposition.
Make sure that doesn’t conflict with any other products, product lines or brands in your portfolio.
Create the name and “look” to support the positioning.
Create the marketing materials.
Plan the initial launch.
Strategize the actual marketing plan to support it after its launch
Execute, execute, execute and PRAY. Pray the product is positioned and priced correctly, works correctly and sells in the time you predicted.

Of course you are not interested in doing this entire list, so how can making the decision of adding a new product or product line be made in a more simplistic approach? Consider the following:

1. Evaluate the product itself

Has the product been thoroughly tested?
Did the product deliver consistent results?

2. Identify and evaluate the target market

What are the ideal customer’s characteristics?
Is there a market for the product?
Is there enough of a market to support the product?
Does the market available to you have a place for the product?

3. Evaluate the competition

Who are the top market competitors?
How are their products the same or different?
What are their marketing techniques?

4. Consider the product from your customers’ viewpoint

What service or product do they choose currently?
What are the key differences that would compel customers to select your product over another company’s?

5. Evaluate launch readiness

If the launch is successful (and let’s face it – the reason you’re launching a new product is because you want it to be successful) can your company facilitate the increased demand?
Do you have resources for handling customer education, inquiries and needs?

In the end, if you do your homework and move forward with an analytical eye, your product or line extension will increase sales, help you reach new markets and build market share overall for your growing business. Go be a “rocket” star!

Tools to Target the Right Customers

Every successful partnership requires each partner to give 100% effort. That includes the new exclusive partnership that Superior Livestock and BioZyme^® have entered to market VitaFerm^®Raised and Gain Smart^™ calves through Superior.

The newly formed alliance targeted to stocker and feeding operations requires that either VitaFerm or Gain Smart be fed 45 days prior to marketing calves on Superior AND through delivery of those calves. Since nutrition is a key factor to herd health, gain and stress relief, this is win-win for all partners in the endeavor – the cattle feeder, BioZyme and Superior.

“This is a big win for our dealers when it comes to marketing the new Gain Smart product,” says Alan Lee, BioZyme Director of Sales. “But it is a more important win for the producers, who should see the value of feeding our product twice. First, they will see increased gain and faster growing calves, and again when they market their calves through Superior, they should see the premiums as being part of this new value-added program.”

Promoting the value of a nutrition program and the Amaferm^® advantage, is already a great marketing tool, especially when customers see the financial benefits penciled out. Your customers need to sell those calves, and if they aren’t already Superior customers, the value-added partnership is another great arsenal to add to your marketing plan. Superior is the leader in marketing cattle, and chances are your bigger producers already use Superior.

One way that Lee suggests dealers can discover larger producers in their sales area is to watch the Superior Livestock sales or read their catalog online, to see who already sells their cattle via Superior. Another benefit of this simple research might be discovering a new customer who doesn’t feed BioZyme products but sells on Superior.

“Every dealer I’ve suggested this to who embraced this, has picked up at least one new, big customer in the last two weeks,” Lee says. And he adds, if an alliance or group of producers is selling cattle, the BioZyme dealer can potentially add several more customers.

Reaching out to your area Superior Livestock rep is another way to build a customer base. Superior has nearly 400 representatives across the United States who work on commission of selling actual load lots of cattle. They are another great source when promoting the BioZyme programs. Superior reps and their telephone numbers can be found online at www.superiorlivestock.com.

“Through a collaborative effort between the BioZyme dealers and Superior reps, we want this to be a long-term partnership,” says Jason Barber, manager of Superior’s purebred division. “We want the dealers and sales staff to reach out to reps and consignors to network while educating the consignors about the importance of a great mineral program.”

Lee says the dealers need to be proactive in approaching larger customers, and the new Gain Smart program provides dealers with the great information to approach larger feeders and stockers with. “Gain Smart provides greater performance, increasing gains from one-quarter to one-third of a pound per day. So, not only will they see added gains, they will receive premiums when selling through this value-added program.”

Other Ways to Offset “It’s Too Expensive”

Learning is a complicated concept as everyone is unique in their own way, and learns in their own way as well. It is easy to give up when customers don’t react positively to the way you’ve positioned a product. You understand it… why shouldn’t they?

Unfortunately, we have to understand that all customers are different and different positioning tactics appeal to some more than others. Here are a few quick tips on conquering the “It’s too expensive” objection we often hear:

Divide into Daily Prices
For just 15 cents per head, per day, you can feed your cow the mineral program that will result in performance that pays.

Compare the Price to Something Tangible
Vita Charge^® Gel gets livestock back on feed for less than the price of a Starbucks^® coffee.

Increase the Perception of Value within the Product
Dyson has claimed 27% market share in the US vacuum cleaner space. They detail everything behind their products:

5 years of prototyping
5,127 prototypes
1,000 Dyson engineers and scientists in Britain, Singapore and Malaysia
Engineers in disciplines like Fluid Dynamics, Aerodynamics, Turbo Machinery and Acoustics

Let’s do the same with BioZyme^® mineral…

60+ years of developing products
160 published university research studies to prove how the products work
350 PhD’s study the impact of Amaferm^®
12,000 cows each year participating in field trials for real-world proof

Introduce a Calculator

BioZyme has developed several calculators to help pencil out the value of the VitaFerm^® mineral products. Take the time to go through these calculators with your customers. These calculators can be found at:
http://vitaferm.com/cost-calculators/.

Offers Stats that Prove Others Believe in the Value

In 2011, 216,714 beef cattle consumed VitaFerm every day -or- 5,418 producers believed in its value

In 2015, 538,379 beef cattle consumed VitaFerm every day, so today the brand is trusted by over 13,459 producers and counting!

What’s It Worth? Let’s Do the Math

Typical Customer Rebuttal:
“OK, fine. I can afford a mineral program, but that
VitaFerm^® stuff is just too expensive”

While the study at Kansas State University estimates mineral costs at $36.50 per cow, per year, it is true that VitaFerm will be approximately $56.74 if using our top-of-the-line VitaFerm lines, Concept•Aid^® and Heat^™. That’s $20 more per cow. Before you walk away, see the breakdown below so you can fully understand how you and/or your customers can’t afford to NOT feed VitaFerm mineral.

What are More Weaned Pounds Worth?
According to Reinaldo Cooke, PhD, Oregon State University, supplementing cows with organic trace minerals led to weaning weights of 519 lbs. vs 466 lbs. for the control (no supplementation but were not mineral deficient), giving the cows with organic trace mineral supplementation a 53 lb. or $74/hd advantage, or a 28 lb. or $39/hd advantage over the inorganics. VitaFerm uses Optimins^® for organic trace minerals in all formulas.

What are Even More Weaned Pounds Worth?

What’s One More Calf Worth?
A 2.5% increase in the calf crop (1 calf per 40 cows), at a 550 lb. weaning weight, would increase the average weight of the calves by 13.75 lbs., and at $1.40/lb., would increase the average revenue per cow by $19.00.

What is Keeping them Cool Worth?

0.4 increase in average days open when beef cows experience heat stress (1.6 to 0 days across the USA)
0.4 more days at 2.5 lbs. of gain per day a calf is on the ground, equates to $1 per cow, per year
Donor cows flush less when heat stressed. The typical flush is 8 eggs per cow. A trial on VitaFerm HEAT with 8 donor cows led to 105 eggs instead of the typical 64 in the year before.

What is Keeping them Grazing Worth?
The average producer feeding harvested hay has a per cow, per day cost between $1.25 to $2.00. More days on grass means less days of feeding harvested hay. This is difficult to calculate, so we will just keep this in mind while determining value.

What else can they say:
“OK, OK, OK.”

Optimins^® Value: $39 more revenue for a heavier calf at weaning
Amaferm^® Value:
– $49 more revenue for a heavier calf at weaning
– $19 more revenue for 1 more calf across the herd
– $1 more revenue for less average open days
A 5 to 1 return before we even talk about forage savings!

The additional investment of $20 per cow translates to $108 more revenue per cow.

Click Here to Download the Understanding the Value brochure that includes all of this information in a format you can share with your customers.

What Does Mineral Supplementation Really Cost?

Typical Customer Objection:
“I understand the nutrition is great… I just don’t have the revenue to cover such a large cost in my operation.”

When cattle producers are trying to cut costs, mineral programs
seem to be the first to go… But should they be? According to Kansas
State University, the average cost per cow, per year is as follows:

According to this cost breakdown:

Year Round Mineral Cost = $36.50 per cow
Mineral accounts for only 3.9% of total cost
Harvested forage is 12.8% of total cost

According to a recent study by Reinaldo Cooke, PhD., Oregon State University, supplementing cows with inorganic trace minerals led to weaning weights of 25 lbs. more than the control (no supplementation but not mineral deficient). Using $1.40/lb., this equates to a $35 per head advantage.

What does this mean?

A mineral program will end up costing you $1.50 per year, per cow (=$36.50-$35)
That is 0.2% of the total cost per cow, per year

Now that you know what it really costs, do the math to find out what it’s really worth – click here.