Daily Archives: March 2, 2017

Smart Ways to Save Up for Your Child’s College Education

College Education It is every Filipino parent’s dream to send their children to college. But with the increasing rates of tuition in universities and stagnant wages that average employees receive, securing children’s college education could be a challenge.

Some parents overcome this hurdle by working abroad, while others look for multiple sources of income from part-time jobs and rackets. Unfortunately, there are some who simply let go of their big dreams for their children. If you’re a parent struggling with the same dilemma, don’t lose hope. As a matter of fact, there are some smart, effective ways to save up for your child’s college education.

Build a College Fund

Though it is feasible, saving up on your own to build a college fund is not the best option. When emergencies happen, you’ll likely dip into your savings account and the next thing you know, there will be no money left for the college fund. So, experts say that it is better to build a college fund through the help of a third party such as an insurance company. Manulife Philippines, for instance, provides education coverage through an affordable investment plan.

Invest in Stock Market

Some financial experts say that one way to grow your money in time for your child’s college years is through stock market investment. Save up as much as you can, and buy shares from a reputable company.  You can also put it in conventional investment vehicles like bonds or time deposits. Talk to a financial advisor so you’ll know how you can grow your savings through different kinds of investments.

Sending your child to college is not far-fetched, as long as you plan your finances early and adequately. Be financially smart today, and your child will be thankful to you in coming years.

Effective Cross-Selling Strategies

Making A Sale Cross-selling is a strategy implemented by businesses that provide complimentary products or services to an original order. This doesn’t have to happen right after the initial purchase; it can happen anytime after it. This is an advantageous approach, if done properly, an expert from United Call Center — an answering service call center, — cites the following ways on how you can effectively implement this.

Understand Your Customers

It’s important to know your customers before making a cross-selling pitch; relevant products may differ for certain groups of customers. One such example is offering supplementary items for amateur and professional photographers, both share the same passion or profession, but their needs are different. This is when you need to implement a profiling strategy to improve the conversion rate of our pitches. Conduct surveys, study buying patterns and behaviors and connect with customers by understanding their needs and wants.

Relevant Items Only

When you make a cross-selling pitch, the product or service you offer must complement the original purchase or add value to it. Irrelevant items included in the package may turn off even the most loyal of customers, more so new prospects.

Offering relevant items is just the first step the next step is to limit a customer’s choices. The more options you give them, the less likely they will buy. It also creates informational noise that distracts them and makes it difficult for them to make a choice.

Make the Offer Natural

Customers are likely to respond positively to valuable advice compared to an urgent call. This means you have to focus on creating neutral and easy to perceive pitches when you cross-sell. Amazon does this nicely by using phrases such as “customers frequently bought these items together” or “customers who purchased this item also purchased”, these are neutral phrases that don’t sound pushy and salesy.

Cross-selling is a profitable and efficient strategy that adds value whenever a customer makes a purchase. Implement it effectively to reap the benefits and keep customers loyal.