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The psychology behind customer loyalty programs and influencing consumer behaviour

Running Your Business

Customer loyalty is the lifeblood of successful businesses. Loyal customers spend more, return repeatedly, and become your best brand ambassadors. But what makes customers stick around? Beyond product quality and excellent service, clever psychology significantly influences consumer behaviour and encourages repeat visits.   The cost of acquiring new customers highlights the importance of loyalty. Studies suggest …

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Essential strategies for SMEs to ace their next trade show in Malaysia

Running Your Business

A trade show can serve as a platform for small and medium-sized enterprises (SMEs) in Malaysia, offering opportunities to increase brand awareness and visibility. Such events can serve as a marketplace for businesses to showcase their products and services, effectively putting their brand on the radar of a new customer. Amidst the hustle and bustle, …

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Exploring hidden costs associated with bad historical sales data

Running Your Business

Historical sales data is crucial for businesses, providing valuable insights into customer behaviour, market trends, and operational efficiency.  Utilising this data effectively enables informed decision-making that directly impacts profitability. However, bad sales data can lead to hidden costs. These include missed opportunities, inventory mismanagement, ineffective marketing campaigns, and misguided strategic planning. What are the types …

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Payments and sustainability: Eco-friendly practices in the fintech industry

Running Your Business

As today’s young consumers increasingly prioritise sustainable and eco-friendly products, the trend presents a shift in business strategies, including payments.  According to McKinsey & Company, products with environmental, social, and governance (ESG)-related claims grew by 56% in the past 5 years. The World Economic Forum confirms this trend, coining global “eco-wakening” across demographics. This trend …

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Zero Consumers: Understanding who they are and what they want

Running Your Business

As consumer behaviour shifts, new shoppers emerge, challenging businesses to update their strategies to stay competitive. Dubbed “zero consumers” by McKinsey, a global management consulting firm, this group defies traditional shopping patterns with its distinct characteristics. Their emergence is not confined to Asia. It’s a global phenomenon that challenges businesses to rethink their approach. The …

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Table management techniques for restaurant peak hours

Running Your Business

Peak hours in restaurants are a whirlwind of activity that can make or break a dining establishment’s success. From the moment guests walk through the door, the pressure is on to manage tables efficiently, deliver orders promptly, and maintain a top-notch customer experience in your peak-hours restaurant operations. Any hiccups during these crucial periods can …

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Commission reward system for staff: How to incentivise success to retain excellence

Running Your Business

The power of a commission-based reward system for staff is more than just a feel-good perk! This reward system is a game-changer for your business, fostering a strong company culture, raising employee engagement, empowering team collaborations effectively, and creating a safe space for growth. Has your business started a commission-based reward system for staff yet?  …

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3 Benefits of a Handheld Mobile POS Terminal for SMEs

Running Your Business

In an era where traditional marketing and advertising tactics are facing diminishing returns, small to medium enterprises (SMEs) and home-based entrepreneurs are exploring alternative strategies to connect with their target audience. One effective approach that has emerged is event marketing at bazaars and fairs, which offers a direct line to consumers in a vibrant and …

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