How the Budget Deal Changes Social Security

Married retirees will no longer be able to use two Social Security claiming strategies.

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Hershey kisses artificial flavors goodbye in some chocolates

NEW YORK (AP) — Hershey wants to keep the ingredients list on two of its famous chocolates short and sweet.The candy company said this week that its milk chocolate Hershey's Kisses and bars are now being made with flavor from real vanilla instead of an artificial flavor.The change is the first part of The Hershey Co.'s previously announced plans to use simpler ingredients. Many food companies are removing artificial flavors, colors and ingredients to please consumers [...]

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Are These 7 Sneaky Pricing Tricks Making You Spend More Money?

If you find yourself reaching for a $39.99 sweater or loading up on $11.99 albums on iTunes, you’re not alone.

The strategy of ending prices with 99 cents has been around for decades and has worked its magic on almost all of us. But it’s certainly not the only trick retailers use when pricing products.

Merchants use a variety of strategies to get us to spend more — from labeling prices without dollar signs to setting a per-customer limit. And this takes place at all ends of the spectrum — from buying food and toys to cars and houses.

Whether you’re shopping for the holidays or for everyday items, even you could be susceptible to simple pricing tricks, warns Money Talks News money expert Stacy Johnson.

“While you probably don’t stop to consider the pennies on a price tag, let me assure you, your friendly merchant does,” Johnson says.

1. Prices Ending in 9, 99 or 95

Known as “charm prices,” prices ending in 9, 99 or 95 make items appear cheaper than they really are.

Because people read from left to right, they are more likely to register the first number and make an immediate conclusion as to whether the price is reasonable.

When professor Robert Schindler of the Rutgers Business School studied prices at a women’s clothing store, he found the one-cent difference between prices ending in .99 and .00 had “a considerable effect on sales,” with prices ending with .99 far outselling those ending with .00.

While this works right down to the last digit on a product as small as a $1.29 iTunes download, it’s also effective on anything from a pair of jeans to a car or house.

Homes selling for $299,000 often sell faster than those costing $300,000. The reason? It’s under, rather than at, the upper limit of those shopping for houses in the $250,000 – $300,000 price range.

Pricing that doesn’t end in 9 also tells our minds a story. If a price ends in 4 or 7, for example, it’s likely to stand out because it doesn’t end in 9. And it subliminally suggests the seller has seriously considered the price.

2. Dollars Without Cents

If you see prices with no change, the retailer or restaurateur is sending the message that you’re in a high-end place.

The implication is that if you’re concerned about pocket change, you should move on.

3. Prices Without Dollar Signs

In Tricks of the Trade: Restaurants, we explained the rationale behind restaurants intentionally leaving dollar signs off menus: It makes customers spend more.

In a Cornell study, guests given a menu with only numbers and no dollar signs spent significantly more than those who received a menu with either prices showing dollar signs or prices written out in words.

The same tactic translates to retail stores. When items are marked, say, “20” without the dollar sign, retailers are hoping customers won’t associate the amount with money and thus be less likely to keep a running tally of how much they’re spending as they shop.

4. The “10 for $10” Trick

Stores push deals like “10 for $10,” aiming to get shoppers to buy items like soup or cereal in bulk.

But here’s something stores don’t advertise: You don’t always have to buy in bulk to get the deal.

In many cases, you could just as easily buy one for $1. It’s something worth asking your retailer about before loading up your cart.

5. Per-Customer Limits

When stores add limits to products, like “limit four per customer,” it tricks shoppers into thinking the product is scarce, the price low, or both.

It also gives the impression of big demand. You find yourself buying several when you would normally buy just one, to avoid missing out.

6. “Free” Promotion

Retailers know “free” is the magic word. So they roll out deals like buy one, get one free — sometimes persuading us to buy things we wouldn’t normally purchase.

Free shipping incentives requiring us to spend a certain amount of money also draw us in.

7. Simple Prices

Simple prices, especially on products susceptible to future markdowns, allow shoppers to quickly compare how much they’re saving.

For example, it’s easy to compute the discount on a product originally priced at $50 that now costs $35, as opposed to an item originally priced at $49.97, now on sale for $34.97.

Be Aware of Pricing Tricks

These tricks are so simple, it’s easy to believe you’re too sophisticated to fall for them. Odds are, however, you do, and so do millions of other people.

Otherwise, they wouldn’t be used. The psychology of shopping affects virtually everything you buy, from toys to houses and food to Ferraris.

But being aware they exist — and they work — may help you overcome them and make you a smarter shopper.

Your Turn: How do you resist pricing psychology?

This post originally appeared on Money Talks News. Since 1991, MoneyTalksNews has been producing both video and print to help you make more, spend less and avoid rip-offs.

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Northern Rock mortgage sell-off: what customers need to know

Tom Wilson

Screen Shot 2015-11-13 at 17.21.53.png

The government has agreed to sell a £13 billion chunk of the debt it bought when it acquired Northern Rock mortgages during the financial crisis – accounting for around 125,000 mortgage and loan customers. Here’s a roundup of what you need to know if you held one of these products.

The government has agreed to sell a £13 billion chunk of the debt it bought when it acquired Northern Rock mortgages during the financial crisis – accounting for around 125,000 mortgage and loan customers. Here’s a roundup of what you need to know if you held one of these products.

Northern Rock mortgage sell-off: what you need to know

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The government has agreed to sell a £13 billion chunk of the debt it bought when it acquired Northern Rock mortgages during the financial crisis – accounting for around 125,000 mortgage and loan customers. Here’s a roundup of what you need to know if you held one of these products. What’s happening? UK Asset Resolution (UKAR) – the “bad bank” that was created to buy the assets of failing companies in the wake of the financial crisis – has agreed to sell £13 billion of mortgages and loans to US private equity firm Cerberus, which in turn is going to sell on £3.3 billion of these loans to TSB. £12 billion of the loans were originally made by Northern Rock, though a further billion was from other sources. How do I know if my loan was sold? The deal is expected to complete in March 2016, and all affected customers will be contacted directly at this point. After completion, around 34,000 Northern Rock customers will become TSB customers, and 91,000 customers will be owned by Cerberus. Based on the information disclosed so far, around 71,000 of the customers held only mortgages, including 53,000 customers who held ‘Together Mortgages’, which allowed people to take an unsecured loan on top of their mortgage (plus 500 people who have paid off ‘Together mortgages’ but still need to repay the unsecured element of the loan). If I’m affected, can I choose between Cerberus and TSB? No. It’s reported that the transfer of mortgages from Cerberus to TSB will be “randomly selected”. We’ll update with more information on this when it’s available, as there could be further issues depending on the details of this process. Do I need to do anything? Customers “do not need to take any action” between now and March 2016, so you should continue to repay your loan as normal. Will the terms of my loan change? According to the terms of the deal, there will be no changes to the terms and conditions of the mortgages that have been sold. Could the terms of my loan change in future? Unfortunately we don’t know yet, but it’s possible. We’ve asked UKAR who will be responsible for determining future pricing changes, such as adjustments to variable rate mortgages, but have had not received a response at the time of writing. Can I switch my mortgage elsewhere? In theory, affected customers can remortgage like anyone else. Unfortunately, part of the problem in the first place was that Northern Rock lent at a very high loan-to-value, meaning several customers found themselves in negative equity. Additionally, the mortgage rules created in response to the crisis have created difficulties for people looking to switch to more affordable mortgages. Where can I go if I’m struggling with mortgage debt? The Money Advice Service, Citizens Advice Bureaux or debt charities such as Stepchange offer free help to people who are struggling with debt. Has the government completely sold the debt it bought from Northern Rock? Not yet. After this deal completes, around 85% of the Northern Rock’s assets will have been offloaded.

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Why McDonald's Stock Is Blowing the Competition Away

The famed restaurant chain has seen its stock jump by 17 percent since September.

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Are Your Mobile Games Actually Free? If Not, Try Amazon Underground

Android users should get excited.

Amazon already had free games for you. But now it has even more to try. A lot more.

Launched in August, Amazon Underground has tripled its selection of free games and apps.

Available exclusively for users with Android and Amazon Fire devices in the U.S., U.K., France and Germany, the Underground app takes away the buzzkill of paying for a mobile game’s premium content.

Instead, it’s all free.

Amazon Underground: Your Go-to for Free Games (Really)

If you’ve never used Underground, it’s like a souped-up version of Amazon’s shopping app.

While other electronics and products on Amazon have normal price tags, the Underground games and apps are free. You’ll see an “Actually Free” banner across the app’s top left corner.

Games like Goat Simulator (Product description: “You can be a goat,” $4.99 in other app stores) are free to download, Amazon said in a statement.

But here’s where your real savings come in: On Amazon Underground, there are no in-app purchasing requirements.

“Customers can play with unlimited lives and will receive many bonus in-app items in the Amazon Underground version of the app completely free ($31.87 value),” Amazon said of  Frozen Free Fall — a game that’s free to install, but that requires in-app purchases.

An Amazon representative confirmed that games added to Underground remain available through the app. It’s not a limited-time offer.

Underground actually replaced Amazon’s App A Day program, TechCrunch reports.

How Amazon Underground Can Be Free

“We’ve made it possible for customers to get actually free apps by working out a new business model with app and game developers: We’re paying them a certain amount on a per-minute played basis in exchange for them waiving their normal in-app fees,” Amazon staffer Lyn Hart said.

Since game developers aren’t earning money from customer downloads and in-app purchases, Amazon pays $.002 cents for each minute a customer uses their game.

“To be clear, we’re the ones picking up those per minute charges — so for customers it’s simply free,” Hart said. “And, if customers interact with us more frequently across Amazon, that’s a great outcome.”

That’s the part to watch out for: Amazon’s betting after you spend all that time playing free games, you’ll also browse — and buy — on the rest of the site. Don’t fall for it!

If Your Whole Family Plays Games, You Need This App

Here’s the thing that’s easy to forget about mobile games: It’s easy to spend money without thinking about it.

If you can buy in-app level upgrades, bonuses and additional characters with the click of a button, it’s too easy to turn around at the end of the month and say, “Wow, how’d I spend so much on games this month?”

And while you, savvy reader, might have self-control and and a general sense of how much you want to spend on games, think about the other people who might use your phone or Fire tablet.

If your child plays mobile games on your device, Underground is an easy way to make sure Junior doesn’t rack up a gaming bill while you’re grocery shopping.

If you share your tablet with a less tech-savvy parent, Underground’s free games prevent that moment of, “I’m not sure how I got here or how I spent this much money.”

It’s a good way to make sure everyone’s truly having free fun.

The most complicated part of Underground is downloading it. The app isn’t available in the Google Play store — you have to visit Amazon Underground from your phone or request an emailed download link.

Your Turn: Will you download Amazon Underground?

Disclosure: We have a serious Taco Bell addiction around here. The affiliate links in this post help us order off the dollar menu. Thanks for your support!

Lisa Rowan is a writer, editor, and podcaster based in Washington, D.C.

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7 Ways to Gain Lifelong Customers after Making a Sale

What’s the most important part of a thriving business?

For most, it’s sales.

If you have enough customers, even poorly run companies can still profit. Of course, making sales isn’t always easy.

In fact, it can take several touch points with a prospect before they are ready to buy from you.

For almost all businesses, it is far easier (and cheaper) to retain a customer than it is to get a new one. Research has shown that increasing customer retention by 5% can improve company’s profitability by up to 95%!

Loyal customers have a huge lifetime value because they’ll buy from you over and over again.

That’s why gaining customer trust, and keeping it after a purchase is made, is so important.

And yet, most businesses have massive holes in their customer service.

They spend so much time optimizing their conversion rate for the initial purchase that they forget to spend any real time optimizing what happens after the sale.

This leads to frequent mediocre, or even bad, experiences when things go wrong (which they do on occasion).

A Mattersight study of consumers found that just one bad customer experience caused 70% of consumers to not buy again from that brand.

Most of those bad experiences are preventable.

But most businesses don’t realize that it’s not just the complaining customers who didn’t have good experiences.

According to Dunvegan Group research, 20% of customers who feel “satisfied” with their purchase will switch to a competitor in the future.

So, not only do poor customer experiences decrease loyalty, but even typical ones will result in a large portion of your customers trying out a competitor.

If you haven’t given some serious thought to how your customer experience after the sale affects trust and loyalty: it’s time.

For the rest of this post, I’m going to show you the 7 keys to keeping customer trust and gaining their loyalty. 

1. Does it really need to be said?

The biggest reason why customers leave a brand is because they don’t like the product or service they get.

According to a study, 68% of customers will stop buying from a brand for this reason.

Your number one priority is to improve your customer service when it comes to addressing customer complaints.

Do everything you can to make sure your customers are happy.

Resolving problems with a process: Millions of dollars have been spent over the years on determining how to deal with customer complaints most effectively.

If you do a good job addressing a problem, you can still win that customer’s loyalty as long as the problem was caused by some accident and not negligence.

If you do research, you’ll find tons of different customer resolution models, all with their own clever acronyms: HEART, LAST, etc.

But despite having different letters, they all describe the same main stages:

When a customer comes to you or anyone on your team with a complaint, they should be met with the following:

• Listening - Don’t try to fix anything before the customer has been able to vent and explain the problem. Give them as much time as they need.
• Empathy - Always try to find ways to relate and connect with the customer. It turns the situation into an “us vs the problem” situation instead of the original “you vs the customer” situation.
• Apologizing - You need to try to give every customer the best experience you can. If something goes wrong, a simple apology goes a long way. People can be pretty understanding when you sound like a person and not a corporation.
• Solving - First, ask the customer how they’d like the problem to be solved. Or offer your own solutions for them to choose from. Go above and beyond here to maximize your chances of retaining that customer.

Call your own process whatever you like, but it should contain those four elements at the very least (in a similar order).

The two best ways to encourage customers to speak up: Here’s something that might surprise you. The average business only hears from 4% of its dissatisfied customers.

That means that you will never hear from the vast majority of unhappy customers.

That’s a problem.

However, you can double or triple this response rate by making your support more accessible to customers.

Some companies make it difficult to find customer service contact information, or they make their customers go through the hassle of searching through irrelevant documentation first.

Don’t do that.

Display your customer service contact information clearly on your website and also in any emails or letters you send your customers.

You want to hear from them if they have any complaints. That’s your only chance of fixing the problem and keeping a customer.

Yes, it might cost you more to hire an extra customer service rep, but you’ll make 10 times that in the long run from the customers you retain.

Don’t be shortsighted.

The type of contact also plays a role.

A study found that most people prefer to have a conversation with a real person when they have a problem.

This means that the best option for you is to have a toll-free phone number.

On top of that, you want a couple of other methods of contact for those who don’t like the phone.

The most complementary method, in my opinion, is to have a live chat option on your website, especially for anything software-based.

Both of these options should be as easy to find as possible for a customer. Take a look at how HostGator displays its contact information in its header:

What about email? Email is the final option you should consider offering. The study I mentioned before found that about a third of people like using email.

Usually, people use email for non-pressing issues. But if there’s a big problem that needs fixing, they want to talk to someone right away.

If you offer email support, make sure customers don’t wait a week before they hear back from you. They should receive some sort of response within a day.

Go beyond the minimum – follow up: When someone calls about a problem, it’s usually because they’re frustrated, angry, or annoyed. They’re emotional, and it shows.

This is a good thing because many people won’t tell you their problems unless they’re emotional enough.

But after the initial complaint, most will calm down. Even if your initial solution didn’t help much, they aren’t very likely to tell you about it.

That’s a BIG problem. Because if they aren’t thrilled with your solution, you’ve lost their loyalty.

You need to follow up with every single customer that makes a complaint.

Here’s an example of how Groove followed up with a customer who was having trouble integrating Twitter with their software:

They received a response from the customer saying that they got busy and forgot about the problem.

If they forget about the problem, they forget about your product and won’t buy from you again.

Take the time to follow up and see if your customer is thrilled with your solution. If they aren’t, encourage them to contact you again.

Tip: Follow up the same way they contacted you. If they emailed you initially, send them an email follow-up. If they called you, give them a call.

2. Learn to be a psychic for your customers

What if you could anticipate customer complaints?

Then, you could take action to minimize the number of complaints and bad experiences.

Many complaints happen because a customer doesn’t fully understand what they’re buying.

It may be because the sales page isn’t clear, or it may be because the customer is assuming far too much.

Either way, the customer doesn’t get what they expected.

If you think you’re ordering an iPad and get a Surface tablet instead, you’re going to be rightfully annoyed.

So, how do you prevent this from happening?

You need to answer all important questions before a customer buys the product. If they still want to buy after any misconceptions are cleared up, they are much more likely to have a good experience.

Remember that it’s never just one potential customer with a question. So, even if you only get one or two complaints about a specific issue, it could mean there are several other customers with the same problem.

But you can eliminate a significant number of these bad experiences by using a simple FAQ (frequently asked questions) section on your sales page.

For example, here’s what you see on LeadPage’s FAQ page:

I highlighted two that I think are really important even though they are all good questions to include.

“Can I publish my pages on WordPress?” - Some customers would just assume that the landing pages would work on WordPress because everything works on WordPress, right?

In this case, it does work with WordPress. But imagine if it didn’t and someone bought a subscription thinking that it did. They wouldn’t be happy.

“How do I know if my provider’s code will work in your system?” –  Any landing page software needs to work with your email marketing provider.

If you bought the software and couldn’t integrate it with your email system, you’d be frustrated because you couldn’t use the product.

This would turn you off LeadPages, and you’d be unlikely to ever buy from them again even if they started supporting your email marketing provider.

Another example of a great FAQ: You can tell when an FAQ is really good because it answers the questions that many potential buyers have.

Not only will good FAQs improve your conversion rate, but they’ll provide all the necessary details to help your potential customer clearly understand the product, improving their overall experience.

Nathan Barry sells a course about building an audience and product called “Authority.”

On his landing page, he has these FAQs:

He offers multiple packages, and I could see how a visitor might not understand that at first.

They come across the packages on the landing page one by one, like this:

By answering the “Which package should I buy?” question in the FAQ, Nathan makes it clear that there are indeed multiple packages and some are better than others.

This prevents someone from accidentally clicking the first “Buy” button they see, thinking that they are all the same only to realize that they bought the wrong product.

This is easy to fix if they contact you, but of course, many won’t. Instead, they’ll just feel disappointed and possibly misled, and Nathan wouldn’t get their loyalty.

3. There’s nothing worse than feeling used

Everyone knows this feeling, and everyone hates it.

Let’s say someone pays you a lot of attention, so you naturally think they like you. Then, as soon as they get something from you, they stop paying any attention to you.

That is, until they need something again in the future.

Don’t let your business be this guy.

Your relationship with your prospects and customers is a relationship. It goes beyond just getting money from them for your products.

They need to know that your primary desire isn’t just to make money but to try to improve their lives and the lives of others like them.

Think about the brands you support the most. You likely do that because they seem like they truly care about the people involved in their work, their customers, and the world at large.

Tesla, for example, is trying to create environment-friendly technology to help the world, not just to make a quick buck.

You can create a similar image of your business in the minds of your customers.

It starts with giving more than you take.

Be mindful of what your sales pitches look like: Just about every smart marketer these days does the majority of their selling through email marketing.

When promoting a product you sell through email, you’ll typically create some sort of a sales sequence.

This is a series of emails that give details about your product, provide case studies, and tackle any concerns your subscribers might have about the product.

The problem is that it often turns into a pitch fest:

A business will aggressively send emails with the intent to sell the product (offer emails).

During this cycle, which can last anywhere from a few days to a few weeks, a marketer might send an average of an email a day.

By the end of it, some percentage of subscribers will buy the product.

But what happens to the emails? They stop.

At the very least, they don’t come nearly as often.

Here’s what the new customer sees:

• They’re sending me lots of emails about how this product can solve my problem
• They make a good case
• Okay, it seems like they’re really interested in helping me out, so I’ll buy it
• …(2 weeks later and zero communication or one email)
• Oh…they just wanted my money

And that’s how you instantly lose a customer for life.

If you’re sending a lot of emails right before someone buys something and then go quiet, your customer will feel used.

Instead, continue to send them emails that offer free solutions to other problems they might have.

This is, in essence, content marketing.

For example, Ramit Sethi is the founder of the 7-figure business I Will Teach You To Be Rich.

He recently promoted his course “Zero to Launch” to his email list.

Guess what happened after he closed the course? That’s right, he went right back to sending valuable free content:

Let’s just take a second to see how a customer feels in this case.

Ramit promises that his course could make a huge impact in your life and that it’s truly a good thing for you.

You believe him and buy it.

Instead of dropping off communication, he sends you your product, but he also sends you more free information about how you can solve other problems.

That has to give you the impression that it’s not just about the money for him. It shows that he really cares about continually providing value to you so you can improve your life.

4. Support before moving forward

After you get a new customer, one of the worst things you can do is to stop communicating with them. We just saw that.

There’s one other really bad mistake that you want to avoid, and that’s promoting another product before they’ve even received the first one.

When someone buys a product, they’re trading their money for your product.

However, if they purchased it online, they may not get that product for a while. Usually, that’s at least a few days if it’s a physical product.

At this point, they’ve given up money but got nothing in return, which makes them feel like you owe them something—which you do.

But if you just ask them to buy additional products at this stage, they have no choice but to think that you don’t really care if they get what they’re owed. It seems like you only care about making money from them.

It’s a great way to lose a customer.

To illustrate this further, let’s say someone asked you to lend them money. Imagine how you would feel if they came back the next day or week asking for more money without having re-paid you the original amount.

Most people are going to be offended, angry, or annoyed.

The takeaway: You need to take care of all aspects of your customer’s order before moving them on to any future products.

A good friend always checks in – As someone who has sold both products and services, I love seeing how they improve the lives of my customers.

It’s a very rewarding part of business, and I hope you enjoy it too.

All you need to do is show this interest—show that you care.

Check in with your customer after an appropriate amount of time (enough to receive and possibly try the product).

One company that does this is Dell, the computer company. Two to three weeks after a computer is supposed to be delivered, a customer service rep will call the customer to check in.

The main purpose is to make sure that the computer arrived and that there are no big issues. This is also a great way to discover more of those complaints that you normally wouldn’t hear about.

Another example is Prograde, a supplement company.

In an email following an order, they encourage you to contact them if you have any problems at all.

5. Case studies aren’t just for selling

Regardless of whether someone just bought something from you or is considering buying from you, you want them to think one thing:

That if they buy it, they will be making a good decision. It will make them happy.

A lot of factors go into that feeling, but more than anything else, it is seeing the results of others.

If you showcase happy customers in your case studies, it’ll help your new customers feel like they probably just made a good decision instead of feeling buyer’s remorse.

The better someone feels after buying one of your products, the more likely they are to buy again in the future.

You build loyalty by delivering a good feeling.

Of course, case studies are also powerful sales tools. They can have a significant impact on your conversion rate.

They help in two different ways.

Again, Ramit is a great example of that.

Near the end of his sales cycle, he sent an email showcasing different customers who had bought the product and were now doing great:

He had about 10 different mini case studies in that email.

I strongly recommend using case studies as part of your content marketing and sales process. They are one of the most effective tools to build trust with your readers.

Here is my guide to writing killer case studies.

6. If you do one thing, do this…

All the things we’ve talked about so far deal with fixing mistakes.

And you should do them.

But there’s one thing we haven’t addressed yet…

How do businesses stay profitable even when making these mistakes?

Sure, they could profit more, but they’re doing okay as it is.

The answer is that they have a good product.

And if you have a great product, the other things we’ve looked at don’t matter as much. If you truly have a great product, your customers will have a great experience even if something else is slightly off.

Most importantly, if you have a product that is way better than any of your competitors’, you leave customers no choice but to be loyal.

Even if they tried your competitor, they would quickly see that your product is far superior and come back to you.

Deliver on your promises: Anyone can make a product sound great, but can you actually deliver on those promises?

A great example of making big promises is “Kopywriting Kourse”, a very popular course on copywriting.

On the landing page, the creator breaks down all the modules that someone who buys the course gets.

Anyone can claim they have awesome tricks and techniques, but actually delivering that is another thing.

Further down, he gives out his phone number to show how much he stands by his product:

Without actually buying the course, that’s about as sure as you can be that he will deliver on his promises.

You can deliver in different ways: You may not be able to standardize some aspects of your product or service.

A good example of it is Nathan Barry’s “Authority” course that we looked at earlier.

In one of his packages, he offers a one-on-one call on top of everything else he promises.

All the books and tutorials are easy to deliver. He can have those sent automatically. Those are fixed products.

However, the phone call isn’t.

If you promise something that can vary, like a phone call, you need to exceed all expectations.

A potential customer will expect to be able to set up the call in a reasonable amount of time, say a week or two after buying. They will also expect a full hour.

There are three main scenarios for delivering the product—the phone call—which have wildly different outcomes. 

Let’s look at these hypothetical scenarios:

1. Nathan delivers slowly – Maybe it takes a few months to finally schedule the call. The customer can easily find better service somewhere else in the future. Nathan didn’t deliver in this scenario.
2. Nathan delivers as expected – This is okay, and many customers will be happy with this.
3. Nathan exceeds expectations – Not only does he schedule the call whenever is convenient to the customer (including the first few days after buying), but he also spends an extra 30 minutes with them.

The last option costs him 30 minutes of his time initially, but that’s how you blow away a customer.

Now, they will trust you no matter what because not only did you fulfill your promises, you exceeded them. Those 30 extra minutes will likely lead to thousands of dollars of revenue in the future.

The takeaway: Make big promises about your products, but make sure that your product lives up to those expectations. If possible, go above and beyond those expectations.

7. Everyone wants to feel special

One of the most effective ways to increase customer loyalty is to reward it.

If you give your customers something extra, they will feel a bit indebted to you, based on the reciprocity principle.

Most will feel obligated to give something back to you somehow.

Some do that by telling others about how great your products are, while others will do that by being a loyal customer. Either way, a small investment upfront can really pay off.

Your options depend heavily on your specific business, but here are four main types of rewards you can give out.

Example #1 – Exclusive offers: No one likes being pitched to. That is, unless it’s an actually amazing opportunity that only they get.

ProFlowers is one of many online flower shops.

They send out massive discount offers around big occasions, but only for their returning customers.

For most customers, getting an offer like this is a gift since they know that they’ll be buying the flowers anyway. This just saves them a lot of money.

In the future, they’ll have no reason to go anywhere else when they need to order flowers.

Example #2 – Loyalty programs: If you sell products that are frequently re-ordered, a loyalty program can be a great way to retain customers.

The most common, and successful, examples of this are fast food places. You buy 6-12 of something like a sandwich, and you get one free.

Online stores also take advantage of this type of program.

For example, the soccer store Soccer.com offers customers the chance to become a “goal club member.”

If they accept, they get reward points that can be converted to discounts on future purchases. On top of that, they get other benefits:

If someone is a member and is going to buy soccer stuff, they’re obviously going to shop at this store.

Example #3 – Fun bonus events: Any potentially free thing that you can offer to your customers is a good thing.

For example, an online food ordering website GrubHub runs an annual “Yummy Rummy sweepstakes”.

Anyone who has ordered three times in the past is allowed to play.

The customer gets to pick a card, and they have a 25% chance of winning something small, e.g., a drink, dessert, etc.

This is no different than McDonald’s Monopoly event. It gives customers an extra fun reason to go there rather than to a competitor.

Example #4 – Samples: Finally, another way you can reward customers is by surprising them with free samples (if possible in your niche).

For example, Bodybuilding.com often throws in small free samples of supplements that customers love.

Even though the samples aren’t worth much, customers like them, which increases their customer loyalty.

If they need to buy fitness gear in the future, they’re going to buy from this store because they were given free stuff in the past.

Find any way you can to show your customers that you really appreciate their business.

That’s how you make them feel special and earn their loyalty.

Conclusion

It’s true, making a sale is difficult.

But once you do, your work doesn’t end there.

If you want to maximize the value of a new customer, you need to convert them into a loyal, repeat customer.

To do that, you have to show that you deserve their trust and loyalty.

I’ve shown you the 7 main keys to building customer trust and loyalty after a sale, which you can start using right away.

Start with one or two, and then try the rest over time.

I’d love to hear about your experiences trying to improve customer trust and loyalty. Share them by leaving me a comment below.

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Should You Use a 401(k) to Buy a Home?

Property values have increased this year, but experts warn against using your 401(k) to buy a house.

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Should You Invest in a 401(k) If You Don't Get a Match?

It's a no-brainer to put money in a 401(k) if you get an employer match. But what should you do if there's no match to be found?

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How to Survive Black Friday Shopping With Your Kids

Shopping with young children in tow is a necessity for a lot of families. For many parents, the kids have to come along or the shopping doesn’t get done.

So what do you do on a big shopping day like Black Friday?

Do you wake the kids up early and get in line for the doorbusters? Do you pack distractions to keep kids’ hands busy as you travel from store to store? If you’re buying holiday presents, how do you keep curious eyes from spying their gifts in advance?

I reached out to Rosemarie Groner at The Busy Budgeter, who has two young children, for her advice on what to do. Here’s how she recommends going Black Friday shopping with kids in tow.

Delight and Distract

“If you have an iPad or an iPhone with a kid-proof case, this would be a great time to break that out,” Groner told us. An all-day shopping trip becomes much more fun when kids are given rare access to unlimited screen time.

It’s also a good idea to pack small toys to keep kids entertained, and Groner suggests packing special toys that kids don’t usually get to play with.

It’s also possible to buy new toys to increase the delight/distract factor, but make sure you keep those toy purchases within your budget!

Packing your kids’ favorite snacks is another great way to delight and distract. The kids get their favorite goodies — and yes, this is the time to pull out those special-occasion treats — and you also save money by not having to buy snacks at the food court.

“Packing a cooler full of drinks, sandwiches and portable snacks like Go-Gurt, trail mix and chips can help you avoid the high cost of eating out,” Groner explained. It’ll also help you keep the kids happy, fed and hydrated so you can keep shopping.

How do you do your holiday shopping when your kids are within eyesight? Here are Groner’s suggestions:  

“For younger kids, you can buy holiday gifts with them right next to you using the distraction method: ‘Whoa! Look over there! Balloons!’ Then slip the toy into a store tote bag.

“When you get to the checkout, asking the cashier to discreetly check out while you keep the kids occupied can help you keep the presents a surprise.”

Of course, it’s a lot easier to shop for holiday gifts if your kids are asleep.

That’s why Groner advises parents to “Pack blankets and pillows to put in carts and strollers.” Kids can take a nap when they get tired, and you can keep hunting down those Black Friday bargains.

Skip the Doorbusters

While we’re on the subject of sleep: Should you wake up the kids at 3 a.m. so you can stand in line for doorbuster deals — or camp out in front of the store overnight to be the first ones inside?

Groner says no: “Unless I could save several hundred dollars on something I would have bought anyway, I would skip the frustrations involved in that. I can’t think of anything that I could get to make camping outside of a store with kids overnight worth it. Not even for a free iPhone 6.”

If you’re disappointed to be missing out on doorbusters, Groner suggests looking for Cyber Monday deals instead. You’ll often find great deals on electronics, home goods, holiday gifts and more — and you can shop without having to get out of bed!

Work in Teams

If you’ve got another parent, relative or friend available to shop with you on Black Friday, use the power of teamwork.

“It’s a great idea to team up with another adult,” Groner told us. “That would give you both a chance to break away for a few minutes kid-free to grab something while the other handles the kids.”

Having two adults present helps the shopping go more quickly because you can cover more ground. One of you can hit up the Electronics section while the other one visits Toys, for example.

With two adults, you also have someone available to take kids to to the bathroom, sit with them as they eat a snack and help entertain them when they get bored.

Of course, if you have two adults available on Black Friday, that also gives you another option: Have one adult babysit as the other one shops.

As Groner puts it: “An even better way to team up with another adult is to have her watch your kids from her home while you grab her shopping list of bargains for her.”

Your Turn: What are your tips for shopping Black Friday sales with kids? Share your suggestions and your stories in the comments.

Nicole Dieker is a freelance writer focusing on personal finance and personal stories. Her work has appeared in The Billfold, The Toast, Yearbook Office, The Write Life and Boing Boing.

This post originally appeared on our special Black Friday site.

The post How to Survive Black Friday Shopping With Your Kids appeared first on The Penny Hoarder.

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Bartonsville supplier gives money-saving tips on buying firewood

Not all fire logs are created equal.

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Taking Care of Your Aging Parents? It's Going to Cost You

Anticipating and preparing for the costs involved can help protect your finances.

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Using a Kitchen Whiteboard to Minimize Food Expenses and Maximize Meal Efficiency

Right now, in the entryway right next to our kitchen, a giant whiteboard hangs on the wall. On that whiteboard, you will find several different sections – a calendar of the week stretching from Sunday to Saturday including a meal plan, an ongoing grocery list, a section that just contains notes between Sarah and myself for short-term reminders, and a to-do list as well.

(I actually took a picture of our white board for this post, but I realized that posting it would seriously cross some of my personal rules for protecting the privacy of some of my immediate family members due to some of the items written on the board. I don’t mind sharing most aspects of my own life, but they’re not online writers and shouldn’t have their info shared like that unless they choose to do it.)

This simple whiteboard has saved us thousands of dollars over the years, not because the whiteboard itself creates new paths for saving money, but because it enables us to take our already-existing frugal routines with our meals and make them that much easier. Here are three ways that this happens.

First, it makes our meal plans easy to execute. This is really the biggest part of how the whiteboard creates value for us. When we write our weekly schedule on the whiteboard, usually on Sunday afternoon, we include with it our meal plan for the week along with any notes about things that need to be done for advance prep, like “slow cooker chili – put in slow cooker in AM.”

By simply sitting down and looking at our schedules for the week, we can pencil in meals that work for each evening situation. For example, Thursday evenings are almost always a challenge at our house because our children have different taekwondo lessons at different times (because they’re in different groups based on their age) that makes it logistically impossible for all of us to gather for a family meal. On that night, we almost always have a slow cooker meal that’s easy to serve when needed and can stay on the slow cooker until everyone has eaten.

Some evenings, we’ll plan to have a meal from the freezer. For example, we might decide that on Tuesday night, it makes sense for me to put a batch of frozen lasagna in the oven from the freezer, and if it’s fully thawed it takes about 45 minutes. So, we’ll write down on Sunday to pull a frozen lasagna from the freezer.

All of this only works if we have a central place to look in the kitchen so we can be sure that we both know what’s happening for supper and we can take steps in advance to make sure it comes off without a hitch. The white board is perfect for that.

Second, it conveniently reminds us of what we actually need at the store. Whenever we notice that something is low, we jot down that item on the whiteboard in a small section in the corner that we’ve labeled “groceries.” That way, when we’re making a grocery list off of our meal plan – which is how we largely shop for groceries – we just add the items on the “groceries” list from the whiteboard to our real grocery list before we head out.

Again, this works because Sarah and I share so many household responsibilities. Some weeks, Sarah shops for groceries; some weeks, I do it. If only one of us did it, a more closed system (like a smartphone app) might handle this, but using a whiteboard makes it possible for both of us to contribute to the grocery list no matter who actually does the shopping.

Finally, it helps us keep track of leftovers. One thing I’ve really found valuable from the whiteboard is a simple list of leftovers that are in the fridge. Whenever I pack up some leftovers and pop them in the fridge, I add them to the list. I usually write a number in parentheses after this as an estimate of how many meals could be provided by the leftovers. Then, during the workday, when I want something for lunch, I just look at that list, choose something, and cross it off, then I look for that item in the fridge.

This helps us to waste fewer leftovers and thus extract a lot more value from the meals that we eat. When I keep this up to date – which is something I’m still learning – I basically eat leftovers every single day for lunch, which basically makes lunch “free.” That’s a real money saver.

These little tactics take very little time, but they add up very quickly. You’re saving a dollar here, a few dollars there, and suddenly you’re saving a lot of money over the course of a month thanks to strategies like eating leftovers and having a meal plan.

Again, it’s worth noting that a whiteboard doesn’t make it happen on its own – it’s just a tool for making these common money-saving strategies that much easier for us. You need to have a sensible meal planning and grocery list system; without that, the whiteboard won’t really help. The whiteboard shines as a tool for implementing that system, but it doesn’t magically create a system on its own.

So, how can you make this work in your own house? Obviously, you need to start with a meal planning system, but the real question is how to integrate a whiteboard into a system like this. Here are three things to look for.

First, make sure that you have a place to put the board in your kitchen. You need to be able to see it when you’re opening the refrigerator and pantry doors and it shouldn’t be more than a few steps away from you when you’re in there. Many people hang these things right on the refrigerator door, but I actually prefer it to be on a wall so that I can see the board while I’m digging in the fridge.

Second, get a fairly large whiteboard. We originally used a fairly small whiteboard, but we quickly found that jamming a full week meal plan, family schedule, grocery list, and notes to each other on there made things cramped to say the least. We then swapped it for a substantially larger whiteboard which worked much better for our needs.

Third, get in the habit of using it consistently. This takes practice, but when you naturally use the whiteboard for meal planning, adding things to grocery lists, and jotting down leftovers and other notes, it becomes a really valuable tool. You just need to get into the practice of using it consistently.

For us, the big step in moving to consistent use was putting our weekly meal plan on the board (along with each day’s activities). We very quickly learned that the plan for tonight’s dinner was to be found on that white board, so we got in the routine of looking at that white board several times each day.

Since the board also had sections for things like grocery lists and leftovers, it became natural to use those features. When you’re looking at the board two or three times a day already, you start to think of that board when you see that you’re low on dried basil or need some milk or want to see what leftovers are in the fridge.

Over time, our whiteboard has become such an essential tool for our kitchen and meal planning. It saves us money by helping us have better grocery lists, helping us plan ahead and prepare meals at home, and by facilitating the use of leftovers.

Why not use an app of some kind for this? There simply isn’t a mobile app that I’ve found that replaces what this white board provides for Sarah and myself. It allows us to see a freeform view of what’s going on with our time and meals all in one glance. There are some whiteboard apps, but they’re hard to use in terms of seeing a lot of information all at once. There are other good shared information apps, but they all have some form of limitation like the method of input or the ability to collect all of these types of information. A true digital whiteboard might be okay, but that’s just far more expensive than an analog one. Some things are just better solved with an analog solution and this happens to be one of them.

If you live in a busy household and are having difficulty working together with other household members to maintain a shopping list and a meal plan, consider getting a big white board that will hang in your kitchen. For us, it has become a central tool for meal planning and has saved us piles of money over the last year or two.

The post Using a Kitchen Whiteboard to Minimize Food Expenses and Maximize Meal Efficiency appeared first on The Simple Dollar.

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5 Great Gifts for Investors

The best presents for people who always have their money on their mind.

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Why you shouldn't sell your home on Friday 13th

Tom Wilson

black cat.jpg

Do you worry about your fate on Friday 13th? If you’re moving home it may well be preying on your mind according to a new report which indicates 15% of house buyers would avoid moving house on Friday 13th due to fear of misfortune.

Do you worry about your fate on Friday 13th? If you’re moving home it may well be preying on your mind according to a new report which indicates 15% of house buyers would avoid moving house on Friday 13th due to fear of misfortune.

read more

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Kirkwood buys old municipal building complex for $175K

The past month has been a busy one for real estate transactions for Charlie Kirkwood.Fresh off his selling off for $8 million a 50-acre parcel of Mosier’s Dairy farm on Route 209 near Route 447 to Legend Properties for a mixed use commercial and upscale residential hub, the Shawnee Inn and Golf Resort owner on the evening of Nov. 10 acquired at auction the old Smithfield Township Municipal Building.Shuttered since it was replaced more than three years ago by the newly [...]

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Is Uber Financing a Bad Idea?

Uber offers financing to its drivers, but don’t assume it’s a good deal. Make sure you know what’s in the bag before you buy into it. Photo: Uber via Facebook

With its innovative technology, user-friendly platform, and promise to save its users money, ride-sharing app Uber has quickly become a dominant disruptive force in the transportation-for-hire industry — one that was overwhelmingly in the grip of large taxi companies just five years ago. Where we once hailed cabs without a second thought, modern consumers now turn to their smartphones to hail a neighbor, college student, or local entrepreneur instead.

Because of Uber’s surge in popularity, its tribe of active drivers – those who have completed four or more trips – swelled to 162,037 by the end of 2014. But Uber isn’t content with that number – at least not yet. In an effort to lure more drivers to its platform, Uber recently launched a questionable auto financing scheme aimed at getting more drivers into new, reliable cars.

While the transition into auto lending might seem like a natural one, a quick look at the details of this “program” shows that there’s not much in it for the drivers it’s supposed to help. So, what’s the deal?

Is Uber Financing Really a Bad Deal?

“We can help you get a car,” says Uber about its new financing program, adding that you can “drive your business forward with exclusive discounts and financing options designed for Uber partners.”

Unfortunately, those discounts and options may come at a high cost to those who hop on board. It all starts with Uber’s overly generous policy as to who might qualify for a loan. Uber insists that “drivers with poor credit or no credit history are eligible to apply for financing from participating lenders.”

With requirements so broad they include almost anyone, it’s safe to wager that Uber’s interest rates will be sky high. Uber claims that each lender sets the terms and requirements for the loan, and that certain credit situations may exclude some people from eligibility. But, since Uber financing is actually offered through third-party lenders, the actual interest rates they’re charging aren’t exactly trumpeted all over the place.

But we’re already hearing how some of these subprime auto loans are panning out, and it’s as bad as one might think. NPR’s Marketplace recently highlighted an Uber financing loan with impossible terms and a hefty price tag. According to the article, 58-year-old Richard Brunelle has been struggling to cover the $1,000 monthly payment for his Kia Optima. The loan’s interest rate? An astonishing 22.75% APR.

With Uber financing, part of the risk is in how payments are made. When you’re working for Uber, car payments are automatically deducted from your monthly earnings. It’s easy to see how that could work well for some drivers – especially those with bad credit. Just like income taxes are taken out before most people see their paychecks, active Uber drivers who take advantage of Uber financing are paying for their cars all along – but without having to actually write the check.

But, what happens when you’re not driving for Uber?

Just as one would expect, you still need to fork over those monthly payments, whether you’re earning money driving or not. For those with poor or bad credit, paying off a car with an exorbitant interest rate is an unlikely proposition – especially if they aren’t bringing in plenty of money.

Does Uber Financing Ever Make Sense?

While Uber financing seems like a raw deal for most people, it may be a godsend for those whose bad credit would prevent them from qualifying for a traditional auto loan. On its website, Uber highlights a handful of driver testimonies that bolster that idea. Here’s one:

Thanks to Uber I am driving a new Toyota Avalon Hybrid. This has allowed me to drive more and save half the money I used to spend on gas in my previous car. I don’t have to worry about the payments since Uber deducts the payments out of my weekly earnings. – Jonathan, UberX Partner

While that sounds positive and cheery, here’s the truth: Any driver, Uber partner or not, should shop around to find the best deal for an auto loan. Outside of Uber, there are plenty of other lenders that offer loans to people with poor or bad credit, and they may offer better interest rates and terms to boot.

Just because Uber offers financing with a convenience factor doesn’t mean it offers the best deal. And if you get stuck with a crazy-high interest rate, that convenience factor can cost you.

Remember – even small differences in interest rates matter a lot more than you might think. With a high-interest rate loan, you’ll not only pay a higher monthly payment, but a whole lot more for your car over the life of your loan as well.

To illustrate this, let’s look at a $20,000 auto loan and compare the monthly payments and the total amount owed over the life of the loan with different interest rates:

$20,000 car loan financed over 60 months

	5% APR	10% APR	15% APR	22.5% APR
Monthly payment	$377	$425	$476	$558
Total paid over five years	$22,645	$25,496	$28,548	$33,485

Just a few percentage points can add up to thousands of dollars over the course of a car loan.

Need a Car to Drive for Uber? Here’s What You Should Do Instead

Just because you want to make money driving for Uber doesn’t mean you have to sign up for one of their auto loans. If you need a newer or more reliable car to begin driving for money, you have plenty of other options to consider.

The first thing you should do is find out your credit score. By signing up for a free service like Credit Karma or Credit Sesame, you gain access to a free copy of your FICO score and some of the details on your credit report. Remember, assuming you have bad credit and actually having bad credit are two entirely different things. So before you assume the worst, you should find out where you stand.

• Related: What is a Good Credit Score?

If you have bad credit, the key is shopping around. In addition to searching for online auto loan options, set aside some time to stop in your local bank or credit union. If your relationship with them is already established, they might be willing to offer a loan with decent terms.

Another option you may want to consider is getting a co-signer. If you have a family member with good credit who is willing to back up your loan, you could secure a much better deal in the long run.

Your third option is considering some of the already established lenders who offer auto loans for people with bad credit. We already highlighted some of the top options for you in our post on the Best Bad Credit Auto Loans of 2015.

The Bottom Line

Yes, Uber financing exists, but that doesn’t mean you have to use it. Since Uber financing is aimed at consumers with poor or nonexistent credit, the interest rates and terms they offer will usually be less than stellar. If you want to get the best deal possible, you need to shop around.

And remember, when something sounds too good to be true, it usually is. Sure, Uber wants to help you get a new car. But, as always, the devil is in the details.

What do you think about Uber financing? Have you ever considered driving for Uber?

Related Articles: 

• How to Make Money Driving for Uber
• Best Auto Loans
• The Best Used Cars for Simply Getting Around
• Best Cheap Car Insurance Options

The post Is Uber Financing a Bad Idea? appeared first on The Simple Dollar.

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Clipped: Earn Passive Income While You Travel, Ace a Job Interview and Handle Your Taxes as a Freelancer

Each Friday, we share some of our favorite posts that will help you make money — whether you work at home, want to get ahead in business or just want to make some extra dough on the side.

Love these posts? Let the authors know! Click here to tweet about it.

Here’s what we clipped this week:

1. How One Family of Four Created Enough Passive Income to Travel Forever

Sharon Goulary (@digitalnomadwan) at The Art of Non-Conformity

Sharon Goulary and her husband travel the world with two small kids in tow — without working.

The family lives in Southeast Asia and survives on income from Sharon’s travel blog and niche sites. Here’s how they made it happen. Read more…

2. A Conversation About Writing Books [Podcast]

Dan Andrews (@TropicalMBA) at Tropical MBA

In this episode of the Tropical MBA podcast, Dan talks to Taylor Pearson about going from successful blogger to bestselling author.

Taylor also shares tips from his book End of Jobs, about entrepreneurship and surviving without a 9-to-5. Read more…

3. The Top 25 Self-Employed Jobs (That are Actually Fun) You Can Start Today

Kevin Mercadante (@OutOfYourRut) at Good Financial Cents

Ready to work for yourself, but can’t decide what kind of home-based business would be right for you? Kevin Mercadante rounds up 25 things you can start today.

You may have thought of some of these before, but he might surprise you with suggestions like voice-over artist or stand-up comedian! Read more…

4. 4 Tax Tips for Freelancers, Dog Sitters and Airbnb Hosts

Tony Armstrong (@tonystrongarm) at Daily Finance

Contract work and gigs are a good way to make extra money on the side. But that income comes with real tax responsibilities.

Daily Finance offers basic tips to keep you from being caught unprepared come tax season. Read more…

5. What to Say When a Hiring Manager Asks, “How Much Money Do You Currently Make?”

Jacquelyn Smith (@jacquelynvsmith) at Business Insider

How do you ensure you get that position you want and the pay you deserve? Your current salary could have a big impact.

BI shares tips from a workplace expert on what to know going into a job interview and how to talk with the interviewer about how much money you make — and how much you want at your new job. Read more…

Enjoy your weekend, Penny Hoarders!

Your Turn: Did you read any great posts on how to make money this week? Share them in the comments!

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

The post Clipped: Earn Passive Income While You Travel, Ace a Job Interview and Handle Your Taxes as a Freelancer appeared first on The Penny Hoarder.

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Hollywood on the Gold Coast

TINSELTOWN can’t get enough of the Gold Coast, with three major Hollywood films soon to be shot. So why does everyone want to make movies here?

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