Kathy Jiamboi
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Is There a RISK Doing Business with YOU?
Many businesses guarantee satisfaction with their products or services. And, if you are not doing this you should be. For those of us who do offer some sort of guarantee, is it something you articulate to your customers? If not, it could be the difference between an increase or a loss in revenue. Consider this scenario- You are looking to purchase two exact items. The only difference between them is that one states a 30-day, no questions asked return and the other does not.
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Brainstorming for Breakthroughs
With all the changes taking place in our economy it is important now more than ever to keep our eyes open for opportunities and different ways of doing business. Think about breaking away from the conventional approaches you have been taking in the many different areas in your business. Recently, I saw a clever sign at a Dairy Queen. It read: Happy Hour 50% off drinks 2pm-4pm A few instructive things here. One, they borrowed a very common business practice of restaurants and bars.
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Multi-Step, Multi-Channel
When marketing anything in your business it is important to use a multi-step, multi-channel system. It has been reported that your advertising or offer needs to be seen at least eight times before a buying decision is made. I’m sure you can relate to this. You get something in the mail and you think you might want to buy it. You then set it aside. Time passes and the offer expires. Then you see an ad in the newspaper and clip it out and put it aside. At some point in time, it could be the 4th time it could be the 9th time, you actually follow through and make the purchase.
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Beware of Social Media
There is unending information about the power of social media and why you should be involved. With all the hype about becoming involved in it there is one thing you must always keep in the back of your mind. Be careful what you put out there because it will end up as a digital fingerprint that may never be erased. Have you searched for your name and your company to see what is out there on the internet? I know of story about a company who had some terrible negative publicity online (not all true) and it all came up on the first pages of the search.
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Testing for More Profits
The only way to know if one marketing medium is better than another is to test. Some businesses fall into the trap of doing what they have always done marketing and advertising-wise because it produces what they think are okay results. This is all well and good if you have in fact tested other ways to market and found a particular medium does outperform every other. But, if you are doing it because this is the way you’ve always done it, you may want to re-think your strategy. Testing may reveal a better way to get less costly leads. There is another reason some businesses don’t test.
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Follow Up Until They Buy or Die
Many people laugh when I say this, some people cringe. I think most people are afraid to continue to follow up for fear of being rejected.
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Get More Customers Faster and Easier
One of my mentors, Bill Glazer, legendary and outrageous marketing guru always says he "makes a sale to get a customer." Most businesses look at it the other way around. They think, "I need to get a customer to make a sale." If your business is one where people return to you time and time again, your objective should be like Bill's. Your focus should be on how to get a new customer and not on the profits from the first sale.
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