Customer relationships are vital to all businesses, big or small. If you have been keeping up with this series, you will know how essential it is for businesses to maintain existing customers. For a quick refresher, why not have another look at the previous articles on ‘Why Keeping Customers Is Important’ and ‘Building Customer Loyalty: Top Tips’? Or for a general overview of the topic check out our article 'Customer Retention and Loyalty'.
However, as we have touched on, this can involve a number of expenses, such as subscribing to a CRM (Customer Relationship Management) service or implanting a rewards scheme. You really want to get started on building your customer loyalty and retaining your existing customers, but your cash flow is a bit tight at the moment. What can you do if you don’t have the funds available right now?
Start a Reward Scheme Using a Cash Advance
Cash advance loans can provide up to €100,000 over a maximum of 18 months. Cash advances have a number of benefits, with repayments being made as a portion of your daily credit/debit card sales. This means that the repayments are flexible and work with the natural ebb and flow of your business. GRID offer a number of cash advance options; our GRID Express Cash Advances would be especially useful if you are just looking for a boost in cash flow.
Depending on the strategy you're implementing to maintain your existing customers, will inform how much you will need to borrow. Reward schemes are reasonably cheap to implement, and can quickly show a return on investment if done right; it is mainly the initial rollout and promotion of this scheme that you would require funds for. However, the cash advance option only works if your business has a credit/debit card machine.
You can be approved for GRID's business loan in just 24 hours and have the money in your account within a week. This allows you to put the cash to work instantly, so you can stop losing customers and start creating regulars. GRID's cash advance can improve your cash flow allowing you to put your money to work in a CRM (Customer Relationship Management) system. Most CRM systems will allow you to set up and automate your e-mail communication, making it easy to keep up communication with your customers.
The fact that GRID’s finance option is an immediate solution, means that you can get to work straight away and boost your customer relationships!