Any modern entrepreneur approaches the business with just two things, the entrepreneur’s product or service and customer satisfaction. All the business decisions are made with these in mind. While the changes in product or the service are in the hands of the entrepreneur, the customer behaviour is a different story altogether. The customer’s taste rules the market, nowadays a good business is all about keeping up the demands of the ever-changing customer.
Below are some tips on how to speed ahead of the competition.
Employing Success instead of employees
The digital sphere has changed how businesses and customers interact with other, a tech-savvy customer can be only influenced by tech-savvy employees, the skill set required too has changed with the evolving marketplace. So, employees nowadays should not be an extension of the business but a reflection of the customer itself
Subtlety in sight
The modern customer is quite simply spoilt for choices, this is not especially helpful when businesses are always on the lookout for new customers. A business has to be in constant contact with the customer through periodic communiqués and updates about their products and services. The only thing that matters here is to have the balance to be subtle, too loud and the customer goes away. Too vaguely visible and your business is forgotten. Keeping up with the trends of digital marketing is a good idea to have a leg up against the competitors.
Ahead of the churn
Similar to the digital presence, this about the quality of your product or service, too many changes and the customer thinks your business lacks stability and too little changes, your business is archaic and dull. A solid business analysis culture can make all the difference here and constant monitoring on competitors and trends can also help towards the greater cause. Beware and have close eye on the churn rate, both of the customers and the employee’s.
Best and worst advertising
End of the line here with customer satisfaction, this is nowadays a precarious situation to be in. gone are the days when the customers would mumble words under the breath and walk away, venting on social media can have some serious repercussions for the business. A recent survey just concluded that 84% of all people trust customer review online. A disgruntled customer is the best way to rectify the product or services, or the practices involved in the business and a happy customer is the best and cheapest advertisement any business can ask for.