Business News New owners give bakery new life
— Business clinic — Rewarding customers
New Eumundi Village bakery owner Anthony Hooymans (second from right) has been working hard with his team (from left Sidney, Andrew, Steph and Mitchell) to give the shop a much needed makeover. Head baker Andrew Taylor is known for his award winning pies across the coast. Make sure you drop in for a look and a taste test at the morning tea Anthony is throwing to meet the locals on 8 February at 10am.
Old bakery means new start for Elfi
As business owners, we spend a large amount of money just to get customers to walk in the door. Advertising, signage, websites, brochures – even shop or office fit out, are all examples of the money we spend to get noticed. It makes sense then that once you get a customer in the door you should expend some money to keep them coming back as well. Retail stores have been doing this for years with members’ cards offering discounts and rewards. But it is amazing how many businesses don’t have any type of customer reward system in place. With competition so fierce these days if you aren’t looking after your customers there is a good chance they will go to your competitors instead. Good customer service comes first but rewarding customers in other ways can develop a personal relationship with them that keeps them coming back time and time again. A good first step is to work out what it costs you to get a new customer. Divide your marketing spend by the number of new customers you have obtained in that period. For example, if you spent $3000 in advertising and got 30 new customers it cost you $100 to get a customer. If you consider how much a customer spends with you in a lifetime this investment is usually more than worth it. But similarly to maximise on this investment you want them to keep coming back or else you’ll need to replace them with another customer which will very likely cost you another $100 to attract. In other words the cost of a small ongoing reward system is likely to be cheaper than replacing customers with new ones. There are numerous ways to reward customers and develop a relationship with them such as birthday cards, reward cards, merchandise, special offers, previews, giveaways, members’ nights and discounts. All you need to do is to be creative and tailor something to suit your business. And remember, make them feel special and they’ll keep coming back. Danielle Taylor, Firefly Solutions, Marketing & Event Management www.fireflysolutions.com.au
Views expressed in the Business Clinic are general in nature and not to be relied on as legal, financial or professional advice. German born Elfi Felske moved from Geelong, opened Nest – her gift and homewares shop – and endured a flood, all in her first week in the village. She chose Eumundi because of the creative vibe and friendly locals. Elfi invites people to drop in and watch as she fills every nook and cranny with lovely eclectic pieces that are arriving all the time from Victoria. A soft launch is planned for Friday 22 February from 5.30–7pm. If you’re a local, Elfi promises lots of lovely discounts on her beautiful pieces on the night.
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