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HOW A WAITING LIST CAN INCREASE BUSINESS REVENUES

Waiting list business revenues

Have you considered using a waiting list for your small business? Did you know a waiting list is an excellent way for you to gauge the demand for your services? If used properly it can help you increase your revenue and customer satisfaction.

WHAT ARE WAITING LISTS EXACTLY?

“How does a waiting list increase business revenues?” you may ask.

A waiting list is merely a list of customers who are waiting for services right? Instead of thinking of these customers as names on a piece of paper or electronic spreadsheet, think of them as sales that want to be closed. If managed properly converting demand into cash is the result of waiting lists.

If you don’t manage your demand well you fail to realize revenues.

The encroachment of technology in our daily lives has reached a fevered pitch. Businesses are experiencing massive changes in the ways customer interact with them. One such way this interaction has changed is the behavior of customers looking for services, such as: online tutoring, drivers training, child care and health and wellness.

Technology is great but it has strained human interactions. All too often customers browse what a company is offering and if they don’t see what they need they leave. What happened to calling, emailing or stopping by and asking questions? Those times are long gone!

It’s absolutely necessary for businesses to build in opportunities for the customer to express their intent to purchase a good or a service.

A child care center has a morning class with five vacancies. They currently have five children for the class. No new children can purchase a slot or space in that class. On five different occasions a parent wanted to enroll their child in the class but couldn’t because they saw it was full.

Without a waiting list those five parents went elsewhere and you lost all those sales. With a waiting list you know you could have five more children in a second class running five days a week for the next four months. That’s 400 extra billable days! If the cost of the morning class was $20.00 per child you could earn an additional $8000.00. Wow!

See the power of waiting lists now?

In addition to more revenue you made a parent’s day easier and less stressful. They’re happier knowing their child’s day care needs will be met and you are willing to go above and beyond for their patronage. It’s a win-win.

Here comes the hard part.

WAITING LISTS REQUIRE TECHNOLOGY

Remember that technological part we mentioned earlier? Don’t frown. Technology can be a burden to implement but there are a lot of resources at your disposal to make implementing it easy and cost effective.

If you have a tutoring company and you are advertising an evening study strategy group class adding a waiting list is simple. All you need is a business software solution like Bizstim.

Bizstim’s online booking tool makes it easy to advertise and manage classes, courses, seminars, day car vacancies and more. Providing a waiting list feature is but one tool we give to you. We’ve listened to the concerns of our clients and worked hard to ensure they have the tools they need to run a successful online business.

Have a look at the following presentation about Bizstim and our waiting list feature.

OUR DEDICATION TO CUSTOMER SERVICE

Since the feature was rolled out we extended it in the following ways:

  1. Batch add and remove customers from waiting lists
  2. Add customers to recurring events with a single click
  3. Receive a daily waiting list update sent to your email each morning

What’s stopping you from increasing revenue and customer satisfaction? Technology is no longer a limiting factor nor is cost. We have subscription plans as low as $39.99 per month. Not to mention we have the best customer support in the CRM industry. Hands down!

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COMMENTS
If you are using waiting lists for your business can you tell us how they are working for you?