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Fresh from the Knowledge Pantry

Creating a successful food business takes more than just good recipes.  In addition to making a great product, you also have to build a strong brand, engage with your customers, and grow sales.   Learn more about the different components of small food business ownership.

Knowledge Pantry

Sales & Customer Experience:

February 4, 2014

What Is Your Customer Retention Plan?

Over the last few days we’ve spent a fair amount of time talking about the costs associated with acquiring customers and how to determine the total value of each customer relationship.  In a 2000 report, Harvard Business Revenue reported that “increasing customer retention by 5% increases profits by 25 – 95%.”   Those types of numbers are…

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February 3, 2014

Determining Your Company’s Customer Lifetime Value

As small business owners, we intuitively know that loyal, returning customers are the best type of customers to have – especially in light of last week’s article where we talked about understanding the true cost associated with acquiring new customers.   But did you know it’s possible to actually put a value to them?

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January 16, 2014

Why You Should Limit Your Product Line

Giving customers a choice seems like a natural for a small food business as you want to give them a selection of products and/or flavors to choose from.  But in your effort to provide customers with everything they need, you might actually be limiting your sales and hurting your business. 

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