ReportWire

Tag: Customers

  • How Top Sellers Anticipate Customer Needs | Entrepreneur

    How Top Sellers Anticipate Customer Needs | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Only 54% of sales professionals go beyond selling their product and help buyers solve a problem or achieve a goal, according to our 2023 SalesFuel survey of B2B decision-makers. The best of what’s left will ask smart discovery questions to figure out how to help.

    The elite sales pros, however, the ones who are the most valuable trusted advisors to their customers, can anticipate their needs and stay ahead of the curve. They know how to practically read their customers’ minds.

    I first learned about the importance of this from the father of a woman I was dating. This woman was special, and I knew I wanted to marry her. First, I had to make it through the difficult conversation with her father. Fortunately, he gave his permission, along with some advice. He told me, “You need to learn to read her mind.” When I replied I wasn’t a mind reader, he repeated his advice but didn’t elaborate.

    Though it took me a while, I figured out what my father-in-law meant. I needed to understand my future wife so well that I could practically read her mind. This advice has also served me well in business.

    Now, more than ever, buying decisions made by customers and prospects involve multiple people. Our research shows that buyers are checking out sellers long before they make initial contact.

    To understand what’s on the minds of your customers, you need to track the activities of several types of buying influencers.

    Related: 3 Ways to Read Your Customers’ Minds

    What their CEO is saying

    Your knowledge-building process should start with what their company’s CEO is saying, because what’s important to him/her becomes important to their employees and purchasing decision-makers. In smaller organizations, no purchasing takes place without the approval of the CEO. Sellers too often ignore the CEO, believing them to be beyond reach.

    You may not be able to reach them, but you can educate yourself about their thoughts and activities. Start by conducting a simple online search on the CEO to learn where they’ve been quoted and where they’ve appeared publicly. You can also identify the CEO’s opinion on key business issues by reading the articles they post on their LinkedIn account.

    What their buying team is doing

    The employees on your customer’s buying team will be downloading position papers and signing up for webinars. They may also be visiting specific pages on your website. Using the right tracking tools, you’ll see the topics that interest them and have further insight into what is on their minds.

    What their customers are saying (and doing)

    Your market research on the customer’s typical buyer, their priorities and behavior can help you understand who they ultimately need to satisfy. In addition, every business wants to know what customers think of their product or service. Checking out the online reviews by customers is mandatory because you must understand your prospect’s reputation as part of your effort to read their mind.

    What similar customers of yours are saying

    If similar customers of yours in the same industry are experiencing a specific challenge, such as a supply-chain problem, your customer might be as well. You can speak authoritatively by introducing the topic with a phrase such as, “Some of my other accounts tell me…” Be careful to avoid any specifics that might breach confidentiality.

    Related: How to Understand Customer Needs

    What industry experts are saying

    Your customer’s buyers may not be actively posting comments or articles about the latest trends in their industry, a situation that will make mind-reading a challenging proposition. You can improve your competitive position by tapping into the content produced by industry experts. Reading industry websites and blogs and listening to podcasts and vlogs allows you to identify the changes that are taking place, along with the pace of those changes. You’ll also learn what your customer’s competitors are doing.

    With this information, you know what should be on your customer’s mind, and you’ll sound knowledgeable when you include a reference to the latest product launch or industry merger in your initial email message or during casual conversation.

    What their marketing people are saying

    This content reveals what they want the public to know about them. You should know it, too. Start with their website and their blog. Check LinkedIn for what they want other businesses to know. Facebook, TikTok, YouTube and other social media indicate what they are communicating to prospects and customers.

    The proof

    We listen to our clients about why they buy our products. We also survey their customers to find out what they ultimately need to help them succeed. These steps are not always enough to give us transparency into our customers’ minds.

    When one of our smallest clients casually mentioned that they were using our proprietary research to be more credible with their clients, I perceived a way to anticipate needs and develop an opportunity. Because many business professionals seek — but are not sure how — to obtain credibility.

    By listening to clients and projecting industry trends, we foresaw that today’s sales professionals navigate an increasingly competitive business climate where decision-making happens online and where buyers form opinions about sellers based on what they discover online. This online discovery process makes it crucial for sellers to possess sterling credibility.

    To meet the need for enhanced credibility, we introduced a new product line, and I started writing my second book on sales credibility. Our buyers now have the tools they need to optimize their online presence and their credibility. Through our SalesCred product, they also learn how to read their prospects’ minds.

    Nothing shows a customer that you care more than when you deliver a product or service before they have fully envisioned it. These people will not always openly share their thoughts. But if you are observant, attentive and caring, you can learn to read their minds. Maybe that’s why my father-in-law was such a good salesperson back in his day.

    Related: Learn How to Stay Ahead of the Curve By ‘Futurecasting’

    C. Lee Smith

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  • TVS Credit records 40 per cent growth in Q2 net profit at ₹134 cr

    TVS Credit records 40 per cent growth in Q2 net profit at ₹134 cr

    Non-banking finance company TVS Credit Services Ltd has posted a profit after tax for the July-September quarter at ₹134 crore up by 40 per cent.

    The company had registered a net profit at ₹96 crore during the corresponding quarter of last financial year.

    For the six month period ended September 30, 2023 the net profit stood at ₹252 crore, the company said on Sunday.

    The assets under management as of September 2023 grew to ₹23,516 crore from ₹20,602 crore registered in the same period of last year.

    Total income during the quarter under review was ₹1,399 crore.

    In a statement, the city-based company said the credit demand continued to remain strong aided by higher consumption and infrastructure outlay by the government.

    During the half year ended September 30, 2023, the business witnessed significant growth, led by the robust performance of consumer loans, it said.

    With the addition of 20 lakh new customers during the six month period ended September 30, 2023, the total consumer base of the company exceeded 1.2 crore.

    “With the festival season on the horizon, TVS Credit is set to unveil a range of special product schemes and exciting consumer promotions to help individuals fulfil their aspirations,” the statement added.

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  • If You Make This Customer Mistake, Prepare to Lose Business Fast | Entrepreneur

    If You Make This Customer Mistake, Prepare to Lose Business Fast | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Maybe your customer service is tip-top in important areas like empathy, efficiency, proper use of language and so forth. Maybe you’ve engaged in effective and ongoing customer service training — whether in person or via eLearning. All of this is absolutely wonderful and very important. Still, you may have a blind spot that is driving customers away.

    In other words, Beware of The Cliff of Dissatisfaction!

    What customers expect in terms of speed is growing more emphatic and extreme every day, accelerating apace with technological, communication and competitive development. Broadband internet, ubiquitous smartphones and tablets, intuitive search functions, always-on GPS, innovative delivery options and greater competitive choice have all influenced customers’ expectations for timeliness. The old business expression, “Quality, price or speed: pick two,” no longer rings true.

    Related: Don’t Get Defensive — Avoid These 7 Phrases When Talking With an Angry Person

    The “cliff of dissatisfaction” is a metaphorical edge where customers lose patience with your company due to slow service (as defined by the customer, not by you). Before reaching the precipice, this timeframe can fluctuate depending on various factors like business type, location and time of day. It’s an inherent risk in service industries and business relationships.

    Starbucks, for instance, has a good grasp of how long their average customer will wait, from when they are acknowledged to when they receive their customized drink. The company employs strategies like interesting decor to make the wait pleasant and proactive countermeasures like baristas taking orders from the line when wait times threaten to exceed the acceptable limit. Technological solutions like their highly successful mobile app also help manage wait times. These strategies guide Starbucks’ expansion plans; when data indicates that demand and resulting wait times negatively impact customer satisfaction, a new store is opened nearby.

    Related: Want Your Business to Succeed? Use These Tips to Understand Your Customer

    Casino management is another example where waiting times are meticulously managed. Some casinos know precisely how long the average gambler will wait for a complimentary drink before getting frustrated. They utilize data analysis and staff-tracking technology like RFID tags concealed in their servers’ uniforms to improve staffing decisions and workflow.

    However, recognizing that your company has a problem can be challenging when industry standards lag behind customer expectations. For instance, in the furniture sector, a 12-week delivery time may actually be considered (at least by the merchants) to be normal. But if all businesses in your industry are too slow, it’s time for you to revolutionize your field before an innovative competitor like Uber or Amazon does.

    Letting customers control the tempo of support

    In addition to improving your speed of service — for example, by reducing hold times, cutting down on in-person waiting and returning emails more quickly — there are creative ways to match the customer’s timetable. Extending your hours is an obvious one. Allowing appointments and doing so in a way that requires minimal effort for the customer is another. And in telephone support, even when you aren’t actually answering calls any quicker, you can still answer them more conveniently by taking a page out of some of the airlines’ playbook and offering a callback option: When a customer calling in would be faced with a long hold time, give them the alternative of having their call returned at a time of the customer’s own choosing.

    Related: Use This Secret Customer Service Technique to Boost Your Customer Retention and Loyalty

    In-app support can be a step even beyond real-time

    In-app support is another way to align yourself to the timetable of your customers. If a customer is using your app and comes across a bug or something else they need to bring to your attention, in-app support, such as that offered by Zendesk, provides your customers with a “Click to Chat’ button, allowing them to chat with one of your customer support agents right there within the app. Also impressive is that this in-app solution promises to give companies a complete picture of the customer so that customers don’t feel like they’re starting over every time they interact with your company.

    Even more futuristically, certain flavors of in-app support can be, in a sense, a step beyond real-time. (Or if that sounds like a nonsensical statement, think of it as a step toward proactive assistance, or pre-sistance, so to speak.) For instance, when your company deploys Apptentive’s in-app solution, here’s what happens when a customer using your mobile app experiences a crash: A note pops up right within the app with an apology and reassurance that the issue is being fixed — before they even have to take any steps to complain.

    Micah Solomon

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  • Free Report: How To Grow Your Customer Base By Making Personal Connections

    Free Report: How To Grow Your Customer Base By Making Personal Connections

    We live in a digital world, but consumers still crave the human touch. While online marketing has the unrivaled power to reach massive groups of potential customers, consumer behavioral data reveals that 60 percent of interested prospects like to follow up with a phone call. This is a critical moment when companies can either land or lose new business.

    Customers want to speak with a knowledgeable person who can answer their questions quickly, but there is a big gap between those expectations and many businesses’ ability to meet them. Research shows that 70 percent of consumers expect a response within five minutes of reaching out, but the truth is that the average response time for websites is 17 hours.

    Smart companies understand that the faster they can move from a digital to a personal connection, the better their chances of winning the business. This free white paper will explore two proven methods for accomplishing that goal efficiently and economically: online live chat and virtual receptionist services.

    In the following pages, we will provide data, tips and best practices for implementing these scalable strategies into your business, allowing you to make personal and lasting connections with customers without adding headcount to your company.

    In this report, you’ll learn:

    • Why live chat and virtual receptionist services are more effective than chatbots and FAQs for converting sales and building customer loyalty.
    • Consumer expectations for response time and knowledge from business representatives and how to meet them.
    • The most effective digital tools to educate consumers about your business and CTAs that get your desired results.

    Complete the form below to access our free report.

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  • The Opportunities We Unlock As Solopreneurs | Entrepreneur

    The Opportunities We Unlock As Solopreneurs | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    When Angela Shen sold her food tour business, Savor Seattle, it wasn’t an easy decision—and it involved many tears. After pivoting her business to curated food boxes during the pandemic, Angela wasn’t feeling challenged professionally or personally, so she decided it was time to move on.

    But the entrepreneurial drive that made her succeed with Savor Seattle never faded. After trying a corporate job and taking time off to travel, she decided to start something new: Savor the Wild Tours. Her new business offers novel food experiences in Washington’s local wilderness, such as mushroom foraging and oyster shucking.

    “You should be a lifetime learner. If you’ve stopped or you feel like, ‘I know enough, I’m a pro at this already,’ that’s no fun,” Angela said. “I’m having way more fun today than I have had in years.”

    At Savor Seattle, Angela had a team of 30 to 35 team members creating and running food tours with her. With her new business, she’s a solo entrepreneur and does all the work herself: finding locations, creating itineraries, and leading tours.

    When creating a new business, Angela also adopted a new mindset—less focus on success in terms of profits and more on providing quality experiences.

    “It won’t be 30,000 [customers] a year like we did before, maybe a couple hundred, maybe even a thousand,” Angela said. “That personal touch and that impact that we have is so much deeper, and it makes me happy. That is a marker of success that never was part of the equation before.”

    After owning and working on Savor Seattle for 17 years, Angela felt her identity was intertwined with the identity of the business. With Savor the Wild, she tries to compartmentalize work from her personal life to avoid stress and burnout. As a one-person operation, she’s able to run the tours on her own schedule, allowing her to spend more quality time with her family and work on other business ventures, such as business consulting.

    “I was lucky as an entrepreneur to have started a successful business early in my career, so I have this privilege now of not having all of that pressure on me to say my success in life is defined by this one business,” Angela said. “I feel really proud of that, and my kids got to see that, and I think now it’s about showing them and myself that I’m capable of more.”

    In addition to Savor the Wild having a similar namesake, Angela maintains Savor Seattle’s values of diversity and inclusion in her new ventures. She makes sure every customer feels welcome at each experience, no matter what they look like or where they come from.

    “I don’t really look like your average mushroom forager. Most people I encounter in the woods look very different,” Angela said. “As someone who is of minority background and had to deal with adversity to get to where I’m today, and will continue to deal with it, I want to make it easier for others to come into this space and to do so in a way that feels safe and welcoming.”

    When debating big business decisions, other business owners can learn from Angela’s journey, including the following tips:

    • Stay true to your values. While Savor the Wild offers different experiences from Savor Seattle, both businesses foster a spirit of adventure and inclusion, representing the business owner’s values.
    • Form valuable partnerships. Throughout her journey, Angela found trustworthy business partners that helped her think through tough business decisions and even connected her with the company that bought Savor Seattle.
    • Listen to your gut. When debating the sale of Savor Seattle, Angela listened to her hunch, leading her to a fulfilling decision that opened doors to new opportunities.

    Listen to the episode below to hear directly from Angela, and subscribe to Behind the Review for more from new business owners and reviewers every Thursday. You can also check out our 2021 episode with Angela.

    Available on: Spotify, Apple Podcasts, Google Podcasts, Stitcher, and Soundcloud.

    Emily Washcovick

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  • 10 Expert Principles For Designing Better CSAT Surveys | Entrepreneur

    10 Expert Principles For Designing Better CSAT Surveys | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    As a customer service consultant and customer service transformation expert, I’ve felt like cringing a few times (or more than a few!) when my client companies send out customer satisfaction (CSAT) surveys that are less accurate and customer-friendly than I’d want them to be.

    This is risky for any business, so I work with them immediately to make the needed improvements.

    Sending out poorly designed surveys can try the nerves of even your most loyal customers, mislead you with spurious results and waste the time of everyone involved — those who send it out and those who receive it. When designed and deployed correctly, however, surveys can reveal essential insights into how customers view their experience with your company and allow customers to vent!I encourage you to spend a few minutes with me learning the do’s and don’ts of designing and deploying customer surveys.

    Related: How to Measure Your Customers’ Happiness Score (and Why That Matters)

    1. Every survey question should be clearly worded and easy to answer

    It shouldn’t require your customer to do math or think too much about the inner workings of your company. Avoid anything like, “Compare this interaction with interactions you’ve had at similar departments at other fintech companies in our broadly competitive cohort.” Also, don’t ask questions you don’t care about and already know you’re not going to act on. (This seems obvious, but it happens all the time.)

    2. Don’t ask your customers to grade you on a scale of 1–10

    When you request their opinions on a scale of 1-10 (or 0-10), you’re confounding your customers at best. Why? You’re essentially asking your customers to determine the difference between a “six” and an “eight” or a similar nuanced gradation when choosing how to rank you. Provide your customer with no more than approximately five choices. (Why do I say approximately five? Well, I’d go with five, but I confess that there is an argument to be made for making it four or six: If you choose an even number like this, you take away an easy midpoint response, thus perhaps getting more reasoned answers.)

    Related: 4 Ways to Use Customer Feedback for Business Innovation

    3. The order in which you ask your questions matters

    The order matters because a prior question brings up images in a customer’s mind that will influence their answer to the next one. So, be sure to ask for your customer’s overall impression first. You don’t want to influence how a customer answers this central question by asking more nitpicky questions before you get to the most important, broad one.

    Asking several individual questions before asking for an overall rating will tend to color that overall rating, perhaps quite significantly. For example, if the question the customer encounters just before the big one asks about the cleanliness of your restrooms, which was just so-so, this will likely reduce your overall rating since you’ve left their mind in the toilets.

    Conversely, if they’ve just been asked about the availability of parking and parking was abundant, this is likely to artificially increase your overall rating since they are thinking about something positive (how easy it was to park).

    4. Include at least one open-ended question

    Doing this is valuable both to harvest customer insights and to let customers know you value and are curious about their thoughts and insights. For example, “Please share any thoughts you may have; we promise to read all of these!”

    The CEO of a major corporation told me that he transformed his entire level of customer service success by reading every one of these so-called “verbatims.” In these, he found a “staggering” level of nuance about his current operations and even some promising suggestions for innovations for the future.

    Related: You Need Consumer Insights To Ensure The Success Of Your Business. Here Are Five Ways To Find Them.

    5. Word choice matters

    I’m a fan of emotive rating options on surveys, such as “fantastic!” (for your top score), “meh” (for somewhere in the middle) and even “Are you sure you can handle the truth?!” (for your lowest). Only consider this approach if it conforms with your brand style! It wouldn’t be appropriate for a traditional jeweler or a business in a life-and-death industry like healthcare or mortuary services.

    6. Pay attention to the number of top ratings (5 on a scale of 5) that you receive

    While it’s nice to know how, on average, customers perceive you, It’s arguably more important to know the number of customers who give you a top (5 on a scale of 5) rating. This may be more important than your average score because the number of people who rate you as tops are the best representation of the number of truly loyal customers you have — or, at least, the number of customers well on their way to true loyalty. Of course, most important here is the trend: are you getting more loyalists than in the past, or is customer enthusiasm flagging?

    Related: Yes, the Rich Are Different — Here Are 5 Customer Service Secrets I Learned While Working With Wealthy Clients

    7. Don’t ask nosy questions

    Nosy questions include questions on income, sex or how old they are. First, you can never assume respondents will trust your privacy practices. Second, unless you’re a casino operator, cannabis dispenser or operate another type of business limited by law to serving adults, you don’t have a reason to ask for a complete birthdate. If you are trying to set yourself up to send out birthday cards or offers later, please at least stop asking for the year of birth. A complete birthdate is probably none of your business and makes identity theft all too easy in the event of a breach.

    8. Skim through your surveys right away, looking for any complaints or ultra-low scores

    Then respond personally and immediately to these upset customers. Don’t make them wait without a response, stewing in their own frustration, until such time as you’ve batched all your surveys for review.

    9. Put thought and attention into any preamble that accompanies your survey

    Your introductory note or cover letter, just like the survey itself, should be friendly, gracious and brand-appropriate. This way, whether or not the recipient chooses to respond, they’ll be left with a positive impression.

    10. Please don’t hound your customers if they don’t respond to your survey request(s)

    I would make one follow-up reminder the limit — or even zero. Once you’ve surveyed a particular customer, suppress future surveys of that same customer for at least 30 days.

    Micah Solomon

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  • How to Use Artificial Intelligence to Improve Customer Experiences | Entrepreneur

    How to Use Artificial Intelligence to Improve Customer Experiences | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Delivering an exceptional customer experience is paramount for success. Within the past decade, companies that integrate artificial intelligence (AI) into their operations have emerged as the leading choice for businesses due to their convenience and scalability. The advanced technology that we are now adapting to has taken customer and marketing experiences to new heights.

    Let’s discuss how AI-driven features and methodologies are redefining the world of marketing and the B2B user experience.

    Why you need artificial intelligence

    It’s not news that AI has a wide range of advantages and applications. Just look at how ChatGPT has revolutionized the way marketers create and distribute content, giving them key language and providing them with suggested social posting timelines and strategies. AI allows companies to automate tedious, repetitive processes, freeing up vital time and money. It quickly and accurately evaluates large volumes of data, finds patterns and makes predictions thanks to machine learning algorithms. Meanwhile, automation of duties boosts operational effectiveness, allowing marketing teams to concentrate on more strategic and valuable tasks that promote productivity and innovation.

    AI provides brands with insightful data and forecasting abilities, even finding hidden patterns and trends that most people would find difficult to spot while manually examining massive data sets. These insights allow companies to plan for customer behavior, enhance processes and make data-driven decisions.

    For instance, AI-powered analytics offers useful information about their brand’s marketing objectives, enabling brands to customize their products and make the most of their marketing initiatives. As an example, Eulerity allows brands to cut out the multivariate possibilities of creatives, media channels and audiences that are often not optimized or looked at on an ongoing basis — especially with modest marketing budgets — by using machine learning to automatically detect where the performance pockets are and make optimization decisions in real-time.

    Related: Innovation or Extinction — Why Complacency Is the Real Business Killer (and How to Foster an Innovative Culture)

    AI-powered personalized recommendations

    Personalized suggestions and a tailored customer experience have never been more vital. Artificial intelligence systems comprehend unique preferences and behavior patterns by evaluating enormous amounts of user data. Automation allows for individualized recommendations that are in line with each client’s particular demands, resulting in a more relevant and personalized experience.

    Some platforms use AI to make product recommendations based on a customer’s browsing history, buying patterns and demographic data. These clever suggestions not only help customers save time but also increase the likelihood of upselling and cross-selling, which boosts client pleasure and generates income. Isn’t that what it’s all about anyway?

    Related: Exploring the Future of Artificial Intelligence — 8 Trends and Predictions for the Next Decade

    Predictive analytics for improving customer churn

    Predictive analytics helps identify potential customer churn indicators, enabling companies to intervene and offer personalized incentives to retain at-risk customers. For brands that may be worried about losing customers, they could offer a loyalty-incentive program or contest to those consumer segments.

    A brand might use predictive analytics to monitor the usage patterns of our own customers — thereby helping to understand where marketing performance can be improved through human connection and strategic support, resulting in improved satisfaction and long-term loyalty.

    To really gain a competitive edge, your brand must be committed to continuously improving and enhancing your customer experience through predictive analytics. By closely monitoring the usage patterns of your customers, you can proactively identify any potential pain points or areas where your services can be optimized.

    This data-driven approach allows you not only to address issues promptly but also to engage in meaningful interactions with your clients. For example, we use data, customer insights and suggestions to provide tailored support and solutions that resonate with their unique needs. There have been multiple product features added to our platform that were driven by customer insights and needs. This proactive strategy not only enhances customer satisfaction but also fosters long-term loyalty and trust, which is the most important aspect of a partnership.

    Final thoughts

    Artificial intelligence has become a game-changer in every single industry and continues to revolutionize the way customers interact with software applications. From personalized recommendations to intelligent chatbots and predictive analytics, AI-driven features are enhancing customer experience, leading to improved satisfaction, increased loyalty and higher retention rates.

    By leveraging AI in such a careful and effective manner, brands have the potential to deliver exceptional customer experiences, giving businesses a competitive edge in the evolving digital landscape.

    Adam Chandler

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  • The Importance of Connecting Your Company to Your Product and Users | Entrepreneur

    The Importance of Connecting Your Company to Your Product and Users | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    When you first launch a startup, you, along with your small initial team, are able to build something incredible from the ground up — and that’s because everyone is intimately connected to the company vision. As your company grows to 100 employees, 500 employees, and beyond, maintaining that connectivity gets a little harder. But I believe that when all employees are aligned with the company vision and culture, and they truly understand the value of the product they’re building, that’s when you get an amazing impact.

    This is how it’s done:

    Related: A Step-by-Step Guide to Achieving Organizational Alignment

    Connecting to your company, connecting to your product

    Your company and your product are entirely codependent — one cannot exist without the other.

    A product’s development and evolution is hugely influenced by the company’s culture, vision and core values. When teams within a company feel connected to its primary goals, they’re more motivated, engaged and creative.

    A positive company culture is one of the most important things you can create. Understanding the company’s culture fosters a sense of purpose and drive among employees. It gives your workforce a roadmap to help direct their actions, aligning them towards one common goal. This alignment not only improves the product development process but also creates a positive and empowering work environment where creativity thrives.

    This is important from day one. That’s why I personally make the time to meet with all our new hires as part of their onboarding process to discuss the company values and mindset.

    Understanding the competition

    To create a product that stands out in the market, experience has shown me how crucial it is to fully understand the competition. Getting a sense of the visions and cultures of similar companies can offer valuable insights into their strategies and areas of focus. By doing so, you can then identify your company’s unique edge and really zero in on the areas where improvements can be made to better serve your users. It’s important to not only meet industry standards, but understanding your competitors allows you to go beyond them as well.

    Using competitive analyses to map industry standards, help set benchmarks and strategize the unique selling proposition — this understanding also positions your business to develop the best possible product for the user. When launching a new product, subscription tier or feature, I work with my teams to first do a competitive analysis and deep dive into the value proposition.

    Related: 8 Effective Ways to Connect With Your Customer

    Understanding the user

    There’s not a day that goes by that I don’t look at user feedback. Having a close understanding of your users is one of the best ways to be connected to your product. It’s important to look at the user and their experience from all angles: needs, pain points, workflow and skill level. By doing so, you can tailor your products to provide real solutions and even exceed customer expectations.

    To further help understand the user, I’ve found that diving into the voice of the customer is one of the most valuable and insightful ways to guide product development. User surveys and sentiment analysis allow businesses to collect feedback directly from their customers, enabling them to gauge customer satisfaction and identify areas for improvement.

    Customer support interactions are also an invaluable source of information. Analyzing customer support data can reveal recurring issues and pain points experienced by users. This information empowers you to proactively address problems and foster increased customer loyalty.

    Lastly, A/B testing is a powerful tool that helps compare different versions of a product to determine which resonates best with users. Through A/B tests, you can make data-driven decisions and continuously enhance your products based on user preferences.

    Directly engaging with users and gathering real-time feedback ensures that the user, and delivering the best possible product, is at the center of all decisions. A customer-driven approach creates trust and loyalty.

    Becoming your own customer

    Every single person who joins our company has to complete a task where they use our product to create some content. This is because to fully grasp every last detail of your product, employees need to not only think like customers but become them.

    By using the product as their clients do, teams gain first-hand insights into its functionalities, flow and user experience. This exercise allows employees to identify potential bottlenecks, fine-tune the product to enhance the user experience, understand which features are most useful, how best to market the product and so on. There’s no end to the valuable insights that can come from becoming your own customer.

    Ultimately, your product and organization are mutually inclusive — to have the best product on the market, your company has to have the clearest understanding of why they do what they do, who it’s for, and feel personally connected. I believe that by stressing the importance of aligning goals and making customer-driven decisions, both your organization and product will feed off one another and thrive.

    Related: How to Increase User Empathy and Build Better Products

    Itzik Elbaz

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  • 9 Ways to Combat Common Vendor and Supplier Fraud Schemes | Entrepreneur

    9 Ways to Combat Common Vendor and Supplier Fraud Schemes | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Every café and restaurant entrepreneur recognizes that the thrill of the culinary scene is rivaled only by its inherent challenges. They grapple with fluctuating food trends, finicky foodies, fierce competitors, evolving regulations and the unpredictable turns of the economy. The current climate demands constant reinvention, and even the most promising cafes can be shuttered in a surprisingly short time.

    Instinct might guide you to attribute pitfalls to the outside world, but ever so often, the longevity of a hospitality business is sealed by what happens inside. A deep dive into the operations and dynamics may reveal a myriad of unseen obstacles and prospects. Employee dynamics, training regimes, supplier agreements and inventory choices significantly influence a café’s success trajectory.

    For those aspiring to cement a lasting presence in this demanding industry, continual introspection isn’t a mere suggestion — it’s a necessity. A café’s lasting prominence is intricately linked with its internal mechanics. A particular concern that might often be overlooked but eats into both the profits and reputation of cafes — prominently observed in the vibrant UAE cafe ecosystem — is the shadowy arena of supplier kickbacks.

    Related: I Was Ripped Off by Someone I Thought Was a Friend. Here’s What I Learned.

    Understanding supplier kickbacks

    Supplier kickbacks constitute covert incentives or commissions that suppliers offer to café staff or management with the intent to influence favorable business transactions. These hidden incentives can lead to questionable choices in ingredient suppliers, acceptance of subpar goods and unnecessary orders, thereby increasing waste.

    Recognizing these kickbacks as a form of veiled corruption lurking within business processes is critical. Cloaked as mundane transactions, they imperceptibly skew standard business activities, often remaining undetected until they manifest in compromised quality, inflated costs or eroded profits.

    Though occasionally masquerading as ‘business courtesies,’ the core aim of these kickbacks remains consistent: to acquire an undue advantage in commercial engagements, thereby undermining the foundational integrity essential for a successful and ethical business venture.

    When and how does it start?

    Delegating purchasing roles to seasoned staff is common for cafe proprietors. However, if inadequately compensated or insufficiently supervised, these individuals might be lured by kickback schemes. In economies where hospitality wages are low, the allure of an added income is especially tempting.

    The introduction to kickbacks can be nuanced, starting with a seemingly harmless gesture of gratitude for significant orders or steadfast business relationships. Yet, it can escalate, forming a regular pattern of monetary exchanges — fostering a dependency loop.

    Related: 4 Kinds of Fraud That Could Destroy Your Business

    Why does it happen?

    1. Personal gain: The most obvious reason is personal financial gain. Employees or managers might be lured by the prospect of extra income, especially if they believe it won’t impact the business significantly.
    2. Business relationships: Sometimes, it’s not just about money. It could be about camaraderie or maintaining a long-standing relationship, even if it’s not in the best interest of the café or restaurant.
    3. Lack of oversight: In businesses where there’s little to no oversight on procurement processes, supplier kickbacks can thrive.

    The impact on revenue and business

    1. Financial loss: Kickbacks can lead to the business overpaying for goods or services, directly affecting profitability.
    2. Compromised quality: Loyalty might shift from the cafe business to the supplier, leading to acceptance of subpar or inconsistent products, which can damage the brand’s reputation.
    3. Operational inefficiencies: With kickbacks in play, decisions are no longer made for the business’s efficiency or benefit but for personal gain. This can lead to stock discrepancies, wastage, inefficient recipe proportions and other operational inefficiencies.

    9 Ways to avoid the kickback trap

    1. Active participation: Owners should be involved, even if indirectly, in purchasing decisions, ensuring transparency and accountability.
    2. Fair wages: Paying staff a decent wage reduces their vulnerability to such schemes. It’s essential to acknowledge and commend advancements in accountability, as well as to recognize initiatives that contribute to enhancing operational efficiency and the overall profitability of the business.
    3. Supplier testimonials: Owners should seek feedback and testimonials from current and potential suppliers by consulting with fellow business owners. This provides a genuine insight into the supplier’s credibility and ethos, ensuring a more informed decision-making process.
    4. Transparent procurement processes: Implement clear and transparent procurement processes. Regularly review and audit these processes to ensure compliance.
    5. Employee training: Ensure that employees, especially those involved in procurement, understand the implications of kickbacks. Regular training sessions can help with this.
    6. Whistleblower policies: Encourage a culture where employees can report unethical practices without fear of retaliation.
    7. Regular audits: Conduct surprise checks, recipe & inventory audits, and regular financial audits. Anomalies in procurement can often be a red flag for kickbacks.
    8. Vendor agreements: Have clear agreements with suppliers that strictly prohibit such practices. Regularly review and renew these agreements.
    9. Treat staff well: Beyond just fair compensation, creating a positive and respectful work environment is essential. Recognizing and rewarding employee contributions, providing growth opportunities, and fostering a sense of belonging can deter staff from seeking external illicit incentives and bolster their loyalty to the business.

    The coffee kickback epidemic in the UAE

    The topic remains shrouded in mystery but is not entirely concealed: the trend of coffee vendors offering commissions to lesser-earning baristas. While the UAE’s plush café industry might be a pronounced casualty, it’s vital to recognize that this isn’t an incident isolated to a particular country.

    Overambitious suppliers fueled the inception of this. By wooing under-compensated baristas, they could cement their market dominance. Over time, this malpractice has not only continued but has thrived, perpetuated by the greed and financial desperation cycle.

    This practice has a secondary and perhaps more insidious effect: it stifles the professional growth and earning potential of the ‘front-of-house chefs,’ the baristas. With kickbacks in play, baristas aren’t incentivized to perform in the best interest of the cafe’s revenue nor enhance their craft or knowledge since their earnings are supplemented through under-the-table dealings.

    The onus of this issue partly lies with non-committing café owners who distance themselves from pivotal operational and purchasing decisions, allowing room for such illicit practices to thrive.

    By understanding and employing these strategies, owners can shield their businesses from internal sabotage and foster an environment of trust and sustainable growth. Understanding and addressing issues like supplier kickbacks can make the difference between a thriving business and merely surviving.

    Customers see only the final product without understanding the internal challenges and decisions that shaped it. For entrepreneurs in the café and restaurant business, it’s vital to be proactive, planning not just for today but for the future.

    All restaurant owners must consider: Are we embodying vision, resilience, dedication and innovation with each cup and dish served for years to come? And what unspoken decisions and actions willcharacterizee the legacy of our business?

    Ryan Godinho

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  • Are Your Testimonials Helping Or Hurting? 4 Common Mistakes To Avoid | Entrepreneur

    Are Your Testimonials Helping Or Hurting? 4 Common Mistakes To Avoid | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Positive testimonials are arguably the most powerful marketing tool any business can equip. It’s no secret word of mouth can drive business growth, even if no other marketing systems are in place.

    However, the absence of great testimonials or prominent negative reviews can be detrimental. A lack of social proof or a single negative review can result in as many as 51.4% of potential prospects searching for a competitor instead of going with your offering. So your company must show off some endorsements.

    Many companies attempt to prove themselves in unethical ways to counter the consequences of having few testimonials. Startups in a rush to start earning profits are the biggest offenders. But I’m here to tell you that it’s never worth it.

    Misuse or unethical use of testimonials creeps onto product pages, websites and review platforms daily. And while short-term profits may rise, it could potentially kill your business over time as potential customers catch on.

    There are several ways testimonials can get misused and ruin brand trust. Here are 4 of the most common.

    Related: How to Get and Use Testimonials, Referrals and Reviews

    1. Irrelevant testimonials

    Testimonials must accurately represent your target audience — if your potential customers find them irrelevant, they will remain unconvinced you can solve their problem.

    An example: If you’re a growth marketing agency selling SEO campaigns for tech companies, decision-makers want to see the results you’ve delivered for those in the tech and innovation space. You don’t want to slap logos of gardening and manufacturing companies on the front page of your website.

    This disconnect in testimonials and target audience confuses buyers more than it helps.

    2. Outdated testimonials

    Take the time to revisit your most prominently portrayed testimonials. Are they recent? Do the results and processes displayed still work today? Many industries evolve quickly, and decision-makers want to know if your company has evolved with those shifts.

    Related: 5 Strategies for Getting the Most Out of a Customer Testimonial

    3. Fake testimonials

    I was once on the verge of buying a $2,000 program from a prominent digital creator promising up-to-date techniques on social media writing. I was intrigued by a new, different approach.

    While doing my research, I clicked over to the founder’s Twitter (X) account. It turns out one of his most recent tweets was a picture of him and his roommate. The interesting bit? I immediately recognized the roommate because the large testimonial on the landing page of this program was the same man.

    It turns out I was right to complete my due diligence because a conveniently located friend faked the entire testimonial — $ 2,000 saved. And the ongoing consequence for that course creator? I’ll never revisit a single product that person reveals again because any trust is gone.

    4. Anonymous testimonials

    Adjacent to fake testimonials are anonymous testimonials.

    Anonymous testimonials can’t be proven, tracked or verified in any meaningful way. So you may as well leave them off your website entirely. Any business can write nice words and say “Katie” said this about their service. But with no picture, no link to the work, and no company to research, these testimonials may as well be deleted.

    How to use testimonials effectively

    Every testimonial you decide to incorporate needs to pull the psychological levers of your potential buyers. Don’t copy and paste quotes that match your headlines. Instead, as you start gathering testimonials, focus on these three pillars to maximize their effectiveness.

    1. Have authentic testimonials

    Not only should you do the obvious and ask permission to display testimonials, but they need to be written in your current (or past) clients’ words.

    Testimonials are best believed if they come in natural language. There’s a desire to edit words, change phrases, and get the “perfect” testimonial. Often times clients are willing for you to make adjustments. But I’m here to tell you — don’t do it.

    Editing testimonials does more harm than good. It’s crucial to resist the temptation to make edits so the testimonials you display are genuinely one-of-a-kind.

    Related: Make Customer Testimonials Meaningful

    2. Highlight specific outcomes

    Just because I don’t recommend editing testimonials doesn’t mean you shouldn’t request those giving them to speak on specific outcomes. When requesting a testimonial, instead of asking someone to say “nice words,” ask what they have accomplished since working with your business.

    How many more leads are you getting each month? How much has MRR increased? How much time is your tech team saving each week? How much weight did you lose, and how fast? These are all examples of great questions to ask former clients.

    The bottom line: ask them to quantify the before and after of working with your company. This leads to specificity, believability and trust from future buyers.

    3. Display prominently

    Most of all, don’t underestimate the value of testimonials. People love safety in numbers and buy when they feel secure with your product.

    The more testimonials you can display, the better. Put them on your website, product pages, social media, and marketing materials whenever possible.

    Over and over again, remind people of the quality of your work and service. This way, when it’s time for them to buy, they’re thinking of you and your company, not your competitors.

    Thomas Strider

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  • The Key to Building Unshakeable Customer Relationships | Entrepreneur

    The Key to Building Unshakeable Customer Relationships | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Hey entrepreneurs! You’re doing everything by the book. You’ve got your CRM software, email newsletters and 24/7 customer support, and yet, you’re not seeing that extraordinary spike in customer loyalty. Ever wondered why?

    Let me tell you: Your customers have evolved. They’re not just seeking a transaction; they’re seeking an experience — the kind of experience that transforms them from mere window shoppers to lifetime brand advocates. It’s time to move beyond basic customer service and learn to capitalize on micro-moment magic.

    Related: 3 Best Practices for Build Lasting Customer Relationships

    Defining micro-moments in the customer experience spectrum

    Micro-moments are those fleeting yet powerful instances where your customers engage with your brand spontaneously. It could be when they swipe through your Instagram story, spot your product on a friend’s feed or step into your retail location “just to browse.”

    But here’s the kicker: These seemingly trivial moments often hold the key to impactful customer relationships. During these micro-moments, you can swing the decision pendulum in your favor. Don’t let them pass you by.

    The alchemy of impactful micro-moments

    1. Leverage emotional triggers

    You’ve got split-seconds to make an impression. Use emotional cues to hit that sweet spot. The customer should feel something — the thrill of a flash sale or the comfort of knowing your product is eco-friendly and sustainably made. When you tap into the emotional resonance, you instantly make the micro-moment memorable.

    2. Dynamic personalization is your wand

    Personalization isn’t a novel concept, but let’s crank it up a notch. Dynamic personalization goes beyond just knowing the customer’s first name. It means offering product recommendations based on browsing history, nudging them with location-based offers or even altering your website layout in real-time according to user behavior. When customers feel like the universe (or your brand) is talking directly to them, magic happens.

    3. Encourage social validation

    Now, this is where the rubber meets the road. During the micro-moments, your potential customers are likely checking reviews, asking friends or even looking at how many followers you have. Make sure you have compelling social proof in place. The power of a peer recommendation is gold — leverage it.

    4. Be predictively proactive

    How about surprising your customers before they even know what they need? With machine learning algorithms, you can analyze behavior patterns and be ready to offer solutions even before the customer identifies the problem. Talk about being a psychic!

    5. Navigating the pitfalls — what not to do

    While the scope for making a lasting impression during micro-moments is astronomical, there are also pitfalls you must avoid like the plague. Overwhelming your customer with too many options, invasive marketing and slow page load times can break the spell faster than you can say “customer churn.”

    6. The ROI of investing in micro-moments

    Let’s get real — investing time and resources to orchestrate perfect micro-moments is not just a flight of fancy but a business imperative. The ROI is real, and it’s massive. Customers who have been wooed successfully through micro-moments are far more likely to become repeat customers and enthusiastic brand advocates. These people will spread the word, create user-generated content and boost your brand’s credibility.

    Related: 7 Amazing Ways to Build Long-Term Relationships With Your Customers

    The future of micro-moments: The unexplored frontier

    Don’t think for a second that the micro-moment wave has peaked. As technology advances, so do opportunities for crafting even more meaningful and immersive micro-moments. Think augmented reality, think virtual reality, think Internet of Things. The possibilities are endless, and the future looks brighter than ever for businesses willing to walk this thrilling path. Here is what you need to know.

    1. Data-driven decision-making

    You’re a visionary, but let’s bring some science to that art of yours. You can’t capitalize on micro-moments without relying on some hardcore data. Big Data and analytics tools can be your guiding star in this labyrinth of customer touchpoints. With proper analytics, you can identify when these micro-moments are most likely to occur and prepare to deliver a curated experience. Imagine knowing precisely when your customer usually browses your website or at what point in the video they’re likely to click through. Knowledge isn’t just power; it’s profit.

    2. Uninterrupted user experience

    While you’re busy orchestrating these exquisite micro-moments, don’t forget the broader setting: the overall user experience (UX). Your website or app should be so fluid and intuitive that it paves the way for these micro-moments to shine. Even minor glitches or delays can disrupt the magic. For example, if your app crashes during a “swipe up to buy” moment, you have lost a sale and a chunk of customer trust that’s tough to regain. Your UX is the stage, the lighting and the background score to your magical show — make sure it’s flawless.

    3. A seamless omnichannel strategy

    We’re living in a digital omniverse. Your customer might start their journey on Instagram, move to your website to browse and finally purchase on your mobile app. This isn’t just multi-channel, my friends; this is omnichannel — a continuous, consistent experience across all platforms. In this interconnected world, your micro-moments must transcend individual platforms and weave into a seamless narrative. For instance, a coupon code discovered during an Instagram scrolling session should be easily applicable on your main website or app. If you create this omnichannel symphony, brace yourself for standing ovations and encores.

    4. Customer-centricity is your North Star

    As we navigate the increasingly complex maze of customer engagement, remember that your true north is customer-centricity. Everything you do, every micro-moment you create, should come from a place of genuine customer empathy. This isn’t just a business tactic; it’s a philosophy. It’s about recognizing that behind every click, swipe or tap is a human being with specific needs, desires and emotions. Master the art of mirroring these sentiments in those fleeting moments, and you won’t just win customers — you’ll win hearts.

    Related: 5 Actionable Ways to Improve Your Customer Experience

    Wrapping up: Your playbook for seizing micro-moments

    By now, I hope you’re buzzing with ideas and itching to put this knowledge into action. Remember, in the grand scheme of your customer relationship ecosystem, micro-moments are the unsung heroes. Overlook them, and you’re leaving money and loyalty on the table.

    It’s time to shatter the glass ceiling of traditional customer relationship management and seize these moments of pure, unadulterated customer engagement. Because, my fellow entrepreneurs, in the digital age, the true currency is not just money; it’s engagement, relationships and trust.

    So, are you ready to master the art of the micro-moment? Your success story is just one “moment” away.

    Chris Kille

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  • Is the Customer Always Right? How to Understand Customer-Centric Thinking to Drive Engagement | Entrepreneur

    Is the Customer Always Right? How to Understand Customer-Centric Thinking to Drive Engagement | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Imagine a world where mattresses aren’t just about sleep but are associated with beauty, stress relief and overall well-being, where millions of data points can predict when the “next big thing” is right around the corner. This is the world today, driven by ever-evolving consumer preferences, where companies strive to stay ahead by honing their customer-centric strategies.

    Achieving business success means going beyond what customers say they want and digging into why they want it. This often reveals a gap between their words and actions. Businesses tend to make products based on guesses about what customers want, both from what they say and what’s assumed. However, customers might struggle to express their needs clearly, and what they claim to prefer might not match what they’re ready to spend on. Closing this gap between talk and action is the key to genuine customer-centricity.

    For years, Treacy & Company by Cherry Bekaert has been exploring consumer centricity through work with our clients. Our recent interactions with innovators have inspired us to share our latest thinking. In this article, we will delve into the importance of uncovering deeper customer meaning and AI’s role in helping to accelerate this customer discovery process.

    Related: 10 Ways to Keep Making Your Clients Happier and Happier

    The gap in customer-centricity

    Amid the intricate landscape of consumer dynamics, a crucial gap often emerges between what customers vocalize and what they truly prioritize. Companies frequently design products based on their assumptions or direct customer feedback, which overlooks a vital reality. Customers’ explicit desires may only sometimes reflect their true preferences or willingness to purchase a product.

    Take the instance of sustainability; even though customers might stress their preference for eco-friendly options when faced with the prospect of paying more for such alternatives, a majority opt for convenience and affordability. This gap between words and actions is a pivotal point for companies to refine their customer-centric approach. It’s where they can reshape strategies to truly meet customers’ deeper motivations and bridge the divide between what’s said and what’s done.

    Unveiling the deeper meaning

    Human discussions and trends often carry a hidden depth beyond the surface. We are much more than our surface-level desires or expressed preferences. Consider the unassuming mattress — an everyday item that carries a remarkable weight of association. When thinking about mattresses, people often associate them with the “culture of sleep” (per MotivBase). In reality, customers implicitly instill mattresses with a broader meaning, encompassing beauty, stress relief and overall well-being.

    Casper, a prominent player in the mattress industry, embraced this profound insight and launched their 2022 campaign, “This is where dreams begin.” This initiative was fueled by a recognition that customers’ authentic desires often reach beyond explicit preferences or assumptions. By tapping into these true motivations, Casper aimed to establish connections that resonate with customers on a fundamental level. This strategic shift acknowledges that customers seek more than just functional products — they yearn for solutions that align with their deeper aspirations.

    There is untapped potential for companies to not only provide products but also offer holistic experiences that cater to customers’ deeper emotions, forging lasting bonds of loyalty and satisfaction.

    Related: What The Fastest-Growing Companies Have In Common

    Transforming insights into actionable strategies

    By analyzing long-form text from social/search channels and applying an anthropological lens, AI can play a pivotal role in helping uncover the hidden motivations and behaviors that shape customer preferences. From first-hand experience with our customers, we are finding that consumer behavior studies that once took ethnographers months to complete can now be done in weeks or even days.

    For example, for a leading consumer brand’s cleaning division, we recommended a sensing AI tool that could uncover opportunities to fill the R&D pipeline. By sensing millions of data points using search, social and new product data, we identified the emerging, maturing and declining trends related to the cleaning category by analyzing growth and size.

    Related: How AI Can Turbocharge Innovation and Help Destroy Your Competition

    This approach uncovered not only expected trends but also unexpected shifts. Instead of listening to a focus group of customers and sorting through reviews, the team could now better understand the true trends of the masses. These millions of consumer engagements led the team to find surprising and unfamiliar trends popping up in the category, which they were able to capitalize on by better prioritizing their R&D roadmap.

    These stories offer a fresh way to see the old saying, “The customer is always right.” It’s not just a rule anymore; it’s about exploring why customers want what they want. Customer-centricity means bridging the gap between words and actions, digging into the reasons behind surface desires and using AI to make smarter decisions. In a changing consumer landscape, those who understand this approach will be skilled at meaningful engagement and gain a strong competitive edge, shaping an environment where every customer interaction resonates deeply.

    Francesco Fazio

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  • The Ridiculously Easy Guide to Internal Customer Service Training | Entrepreneur

    The Ridiculously Easy Guide to Internal Customer Service Training | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Are you gearing up to launch an internal customer service initiative? Well, you’ve come to the right place. I’m happy to equip you with insights that can catapult your initiative into success if you choose to do it on a DIY basis.

    Before we dive into the details, let’s take a breather and understand the similarities and differences between internal and external customer service. While their essence should be the same, their surface manifestations differ.

    Both types of customer service, at their heart, have the same goal: to create and sustain comfort, positive feelings, and, of course, results. However, there are a few notable places where the way you provide service should diverge.

    Related: 8 Initiatives to Make Your Customers Loyal Advocates

    Here are some differences between internal customer service and external customer service (when they’re done right):

    • Jargon and shared language: Every industry, as well as almost every company, has its own set of terminologies, a sort of coded language that outsiders (at least if they’re not also in your industry) might find hard to decipher. With your internal customers — your colleagues in different departments or your own — you can use this jargon and language shortcuts freely, confident in their understanding and without fear of alienating them with phrases, terms, and abbreviations that may be foreign to them.
    • Level of formality: With internal customers (colleagues), you are free to adopt a casual tone, skipping the formalities you would use with someone who is outside of your company. In fact, the formalities essential for external customers may be unnecessary (or even sound a little silly) when you’re interacting with colleagues.
    • Transparency with company information: This one is obvious. You must protect your company’s private matters when working with external customers. With an internal customer, such data may be essential, or at least helpful, in completing their work.
    • The amount of abuse you should be willing to take: Okay, this is a big one and not a very pleasant one to ponder. When working with an external customer, if they are rude, they may be a rude person all the time, or they may be “just” venting this one time and will return to being themselves the next time you encounter them. Either way, because external customers pay for our company’s success, you may need to put up with it. With an internal customer, if they behave badly, you may want to call them on it or even alert a superior, particularly if you have clear internal (company) behavioral guidelines. Of course, in some company cultures, this may be a career suicide move, so you should still proceed with caution.

    Related: 5 Shocking Customer Service Mistakes You’re Making Every Day (And How to Fix Them Right Now)

    Armed with this understanding, let’s dig into the bedrock principles of internal customer service. Here are eight essentials to build into your internal customer service training — and, if all goes well, your internal customer service culture.

    1. Every service interaction unfolds in three stages: the warm welcome, service or product delivery and fond farewell. Far too often, we ignore stages one and three and focus all our effort on the middle one, what we consider the actual work. But the pleasantries at the beginning and the end of any customer service interaction are key, considering how human memory emphasizes beginnings and endings in how it later reviews an event.
    2. Mental reframing can be a game-changer. Start viewing tasks in your inbox as requests from valued customers instead of just “those folks in the other department.” — You’ll observe a boost in your own efficiency and enthusiasm.
    3. As with external customers, internal customers desire recognition. They want their colleagues to see them, not just think of someone who fills up their inbox.
    4. Address both the spoken and unspoken needs and desires of your co-workers. When they communicate with you, listen for the undertones that can give you clues to their emotional (and practical) desires, even if they’ve never verbalized them to you.
    5. Emphasize the principle of lateral service: stepping out of your comfort zone to help colleagues during staff shortages. This fosters a more resilient company culture.
    6. Respect should be a given. Bullying, regardless of its source, should be nipped in the bud. (Whether this is realistic depends on your company culture, level within your company, and other internal factors.)
    7. Consideration (kindness, really) should be at the base of everything we do.
    8. Language is potent. Steer clear of phrases that belittle or devalue your colleagues (“Like I told you previously,” “You’re not my only priority, you know,” and so forth.) And remember, “please” and “thank you” pack a positive, if quiet, punch. Use them liberally.

    Related: 4 Investments Brands Should Make to Upgrade Their Customer Service

    What format should be used for internal customer service training?

    When it comes to internal customer service training, there are a few formats to consider. One option is customer service eLearning-based training, which offers the advantage of being asynchronous (can be used at any time and at any pace) and long-lasting (has value in the future as well as present). With eLearning, employees can access the training material at their own pace regardless of their shift or schedule, and it can be used by future employees and as a central part of your future onboarding process.

    Live customer service training is another effective route to take, whether conducted in person or through remote video. This allows for real-time interaction and immediate feedback. To enhance the effectiveness of live training, it can be beneficial to supplement it with physical collateral, such as handouts or reference materials. These aids can help reinforce the essential points and ensure that everyone is on the same page — literally!

    Micah Solomon

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  • 4 Reasons Why Your Small Business Needs a CRM | Entrepreneur

    4 Reasons Why Your Small Business Needs a CRM | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    The life of a small business owner can be far from easy at times. There are prospects to follow up with, sales to track and commitments to deliver to clients daily. Feeling overwhelmed and fearing the business will fail if you can’t keep up is easy.

    When I became an entrepreneur, prioritizing my tasks and projects was one of my biggest challenges.

    Since I was coding and selling, I had a lot going on at once and was constantly switching between multiple roles. I would forget to call a prospect or customer back, where a previous conversation had left off, and what I had to do as part of a follow-up interaction.

    Initially, I tried to streamline my work process. Yet, after much research, I could not find a solution I needed in the Mac ecosystem.

    So, I decided to build one for myself to meet my needs. As they say, “Necessity is the mother of invention.”

    Years later, that initial product designed to keep me organized in my earliest days as an entrepreneur evolved into Daylite, an all-in-one tool for solopreneurs and small business owners.

    I understood that I was not the only entrepreneur to experience the same struggles trying to prioritize my tasks and projects. And we don’t even have enough people on our teams to do it all for a long time, so we are juggling and switching between tasks. We are forced to focus on multiple things simultaneously, leading to errors and client frustrations.

    Related: What Is A CRM? A Beginners Guide

    The path to success in a small business can have many obstacles. Investing in the right tools can be a true game-changer. A CRM can boost sales by 29%, elevate productivity by 34% and increase forecast accuracy by 42%. It can also help us navigate challenges, regain control of our businesses and work more efficiently to close more deals and get more done.

    Today, you have a choice and can take advantage of many options. I can’t say which CRM is right for you, but I can tell you that having one is absolutely crucial to the success of a one-man (or woman) show or any small business.

    With the evolution of my career and after speaking with so many small business owner customers, I’ve learned four important things about having a powerful CRM in your business.

    1. Saves time

    Something as trivial as searching for a client’s contact information, a seemingly trivial task, can accumulate to be a significant drain on your time. Imagine a scenario where you must make a follow-up call but find the contact details missing. You have sent your team a request, and time is lost waiting for the details to be sent.

    In the long run, the ripple effect of such delays compounds into significant time loss. A CRM solves it by being a centralized repository — wherein all essential contact information is present and ready to access when needed.

    Related: How CRMs Can Spark (or Continue) Fast Growth

    2. Helps build better relationships

    An often overlooked aspect of business interactions is the personal touch. Having a repository of insights into our clients’ lives, ranging from family details to memorable dates, can help us build better relationships with them.

    We store information about the achievements of our client’s children and their key life events to reference in future conversations. But even storing something as simple as the client’s birthdate and being able to send them a present, a card or perhaps simply an email with congratulations can go a long way.

    We all care about our clients and want to be attentive, but storing all of this information in our minds is impossible. A CRM acts as our second brain, in this case, storing it all for us.

    Related: How to Create Authentic Relationships and Build Customer Trust

    3. Saves money in case of a dispute

    It’s normal sometimes to forget discussions or even agreements. It’s also normal to remember things differently. And yet, a memory lapse can have dire consequences.

    Imagine you implement something that a client approves via email. And a few months later, he challenges your execution simply because he forgot about this old request. Finding an old email in an overflowing inbox can turn into a nightmare. Being able to pull out any email from a client’s file in the CRM becomes a game changer.

    4. Helps focus on the right opportunities

    Effectively selling to a variety of potential customers requires careful planning. Deciding where to focus our efforts is crucial – some clients are ready to buy, while others need more time.

    Having all this information in one place and being able to categorize prospects helps sales professionals know which opportunities to pursue and which to hold off on. This approach ensures that we can match our efforts with each customer’s progress, increasing the chances of a successful outcome.

    Alykhan Jetha

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  • 3 Practical Ways AI Can Work for You | Entrepreneur

    3 Practical Ways AI Can Work for You | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    The parabolic growth of accessible AI tools has intriguing implications for businesses. Analysts imagine that generative AI, for example, will have a massive impact on productivity across multiple business functions. Many organizations are scanning the horizon for a long-term AI-fueled transformation, eager to make the most of bullish CAGR projections. And while leaders mustn’t lose sight of long-term goals, staring out too far into the future may be overwhelming — distracting, even.

    Rather than redesign their business’ entire approach just to meet AI somewhere along the horizon, leaders can instead take a more practical route and ask how AI can improve their current strategy. Can AI accelerate current tactics? Can it help teams do things better? Can it help organizations reach their goals with less overhead? The answer, especially regarding product, customer success and internal processes, is overwhelmingly “yes.”

    Related: The Robots Are Coming — But They Can’t Outsmart Us When It Comes To This Particular Skill.

    Product teams can let AI do the legwork for them

    AI’s impact on product development begins with the nitty gritty. Generative AI tools like ChatGPT can help teams with everything from documentation to marketing briefs and website content. My team has leveraged AI for these very purposes, letting AI rewrite code into additional languages once we create the initial sample code. Humans are still an essential part of the process, but AI helps provide a kickstart.

    Tech companies have taken AI a step further, embedding it into their products. AI represents both a tremendous opportunity and a threat for security solutions providers. Bad actors have new tool sets that enable them to create more sophisticated attacks faster and more intelligently. Cyber product teams use the same tools to defend against emerging threats and offer in-product help to ensure their customers are more productive, better informed and ultimately satisfied with the experience.

    Non-tech companies should be thinking about the experience around their products, and, indeed, many are. Car manufacturers use AI to enhance their collision-detection systems. Healthcare solutions providers embed AI in their diagnostics and imaging products. Nike uses AI to power its product personalization efforts.

    AI helps customer teams create responsive, tailored experiences

    Customer-experience chatbots have been around for a long time, but concerns about data privacy, unnatural language and unhelpful results have kept them from becoming ubiquitous. Recent advancements have helped fine-tune chatbots such that they can answer questions more efficiently and accurately than a support desk person. AI-enhanced chatbots have helped transform these experiences from feeling like an impersonal human replacement to a better and more responsible customer experience, yet some consumers are still wary. Most will use chatbots, provided there is always an option to transfer to a live agent.

    Chatbots aren’t the only way organizations can infuse their customer experience with AI. Many companies effectively employ powerful data analytics, feeding valuable purchase and customer data into algorithms that help create ever-evolving seamless, personalized omnichannel experiences – think about how Spotify recommends new songs based on listeners’ history and allows them to switch from one device to the next easily.

    AI allows everyone to escape process mundanity

    For both product and customer experience teams, much of the AI magic happens behind the scenes. Chances are those teams are also using intelligent tools to automate workflows and speed up processes so that people can do their jobs more effectively. Teams for nearly any business function can use AI to do everything from creating images for a slide presentation to drafting website content and writing documentation.

    Leaders interested in process-focused AI can begin by asking, “How can AI help deliver a product or service more effectively?” and “What are we spending time on that AI could/should be doing?” By leaning into existing tools, such as those that Microsoft, Google and OpenAI provide, organizations can simplify mundane tasks involved in creating documents, spreadsheets and slide decks to free up their workforce for more creative and mission-critical work.

    Related: Automation Is Becoming a Business Imperative: Don’t Wait Until It’s Too Late

    AI: the ultimate means to achieving business goals

    On my product management team, we’re exploring all facets of our roles and asking ourselves how AI can help us spend more time analyzing information instead of gathering and summarizing it. This approach has been a tremendous shortcut for some components of our research and is a helpful way to think about AI as it relates to our company’s trajectory. When we ask how AI can help us fulfill our goals, we stay focused rather than become distracted navigating to some nebulous AI-enabled future along the horizon.

    Making AI work for us — not the other way around — is also a useful reminder that modern intelligent tools aren’t here to replace employees. In fact, a human in the loop is critical, regardless of AI’s application. Product teams must validate AI’s documentation; customer experience teams need to review modeling output for errors and continue to interact with customers when the time comes.

    The next time you make a decision about AI, remember that it is just a practical means to achieving business goals and not the end goal in and of itself.

    Jason Oeltjen

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  • The 3 Tiers of Customer Service (and How to Get to the Top) | Entrepreneur

    The 3 Tiers of Customer Service (and How to Get to the Top) | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    The way I see it, your decision to read this article already puts you ahead in the customer service game. Here’s my logic: There are literally billions of human beings out there who, unlike you, will never read an article or book on the subject of customer service improvement because the subject isn’t of interest to them, and they don’t understand the power that customer service improvement can bring.

    Because of your demonstrated interest in the subject, I’m going to assume that you’re already providing “pretty good, much of the time” customer service. You’re already getting quite a few things right — at least on most days and in most customer interactions. So, take a moment to pat yourself on the back. (But don’t strain your neck.)

    If I’m right about this, it means that you’ve already learned the value of customer service from the moments when you have gotten it right, and you’re now inspired to take these successes even further. You’re ready to elevate and polish your relationships with customers to a sufficient level to build the customer connections (and business results) you’ve always hoped to achieve.

    In other words, you’re ready to get out of the middle of the pack — what I call Rung 2 of the Customer Service Level Ladder — and ascend to the top rung, Rung 3.

    When you’ve only reached the middle rung of customer service, while you may be judged more-or-less satisfactory by your customers, you’re not yet loved (or even probably remembered) for the quality of customer service you provide.

    Related: Yes, the Rich Are Different — Here Are 5 Customer Service Secrets I Learned While Working With Wealthy Clients

    The problem of providing “pretty good, much of the time” customer service

    Being on the second rung loads better than languishing at the bottom on Rung 1 (unacceptable service). Still, it will never inspire the engagement, passion and loyalty you need from customers to grow your business.

    The problem is that a merely satisfied (Rung 2) customer will still have a wandering eye. And how can you blame them? If your more-or-less-decent customer service is no better and no worse than what your competitors can also supply, where’s the value to a customer limiting themselves to only one supplier — you?

    What do merely satisfied customers look like? Picture them like this: Although they harbor positive feelings towards your business, they haven’t yet ascended to becoming a devoted advocate for your brand. Unlike a genuinely loyal customer, merely satisfied customers maintain (frustratingly) open minds and remain willing to explore alternatives to your business in the vast marketplace.

    Related: 5 Reasons Why Your Business Is Losing Customers

    A merely satisfied customer is like a free agent, always ready to be enticed by competitors

    In other words, here’s what you need to remember: A merely satisfied customer belongs to the marketplace. A loyal customer belongs to you.

    This is why it’s so important to elevate your organization’s performance to Rung 3, the level of iconic customer service, where customers now consider you their only possible supplier—a category of one—and start going out of their way to sing your praises and share the word about the extraordinary level of customer service you provide.

    Once you’re viewed this way in the marketplace, you’ll be able to use your new, elevated status to grow your company reputation and to reliably and repeatably grow your bottom line.

    Moving your organization up the customer service ladder: The art of anticipatory customer service

    If customer service were a game of hockey…that would be super weird, wouldn’t it?

    But let’s say for a minute that it is, in which case the highest level of customer service, anticipatory customer service, is like being one step ahead of the puck, giving customers what they want before they even know they want it, and anticipating their needs, desires, and questions even before they express them. It’s one step beyond generic reactive customer service: simply fulfilling a request when asked, and it’s the key to creating unforgettable experiences—and memories of your business—for your customers.

    Customers often don’t ask for what they need because they don’t realize they could benefit from something your product or service offers. (Or even know that you offer it.) Or, sometimes, they’re too shy to speak up or “don’t want to be a bother.” (I promise: this last phenomenon isn’t as rare as you think!)

    That’s why anticipatory customer service is so powerful. You’re actively seeking out unexpressed needs and going above and beyond to meet them, as well as unasked questions and answering them. When you uncover and take care of those unspoken needs and wishes, you create a whole new reality for your company. In this reality, delighted customers become loyal advocates, spreading the word about your exceptional service.

    This level of mind-reading service, where customer needs are met before they can even utter a request, is the ultimate secret to winning customer loyalty. And guess what? You can train and inspire your employees to get there—and transform your relationship with customers (and your business results!)

    You may have some doubts

    Now, I get it: you have some doubts. You’re probably wondering if your employees could become Jedi masters of customer anticipation. Hold onto your hats because I assure you they can and will. This will, however, require you to:

    1. Embrace the anticipatory mindset
    2. Promote this mindset throughout your company
    3. Support the anticipatory customer service approach with targeted, meaningful customer service training.
    4. Build, over time, a culture of anticipation through the power of “positive peer pressure,” an environment where employees know that the way things are done around here is to do more than the minimum in a way that is meaningful to our customers, rather than merely complying when asked to do so.

    You also might be doubtful for another reason. You’re wondering if you can afford to provide such an extravagant standard of service. And yes, it doesn’t come for free. But creating mind-blowing service systems is a brilliant investment for any business. The rewards in terms of customer loyalty are worth every penny of your investment and then some. Once you commit to elevating your game and embracing the power of anticipatory customer service, get ready to score big and watch your business grow and prosper like never before.

    Micah Solomon

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  • I Watch Great Teams Make These Business-Destroying Mistakes All The Time. Here’s Where They’re Going Wrong. | Entrepreneur

    I Watch Great Teams Make These Business-Destroying Mistakes All The Time. Here’s Where They’re Going Wrong. | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    In my 20+ year career as an entrepreneur who’s built, acquired, and sold numerous successful businesses, I’ve observed several factors that can take an otherwise amazing team and viable business idea and drive it into the ground:

    • Not fully understanding who you serve (who your customers are).
    • Selling what you’ve got rather than what they want.
    • Putting out the message where it isn’t heard or seen.

    Let’s explore these considerations and the best strategies and tips I’ve learned to help establish your offering, build your brand and strengthen your competitive advantage.

    Related: Common Mistakes First-Time Entrepreneurs Make and How to Stop Them

    1. Identifying your customers

    If you’ve been in business for a while or have a well-developed business plan, you most likely have a good idea of who your customers are. We traditionally think of customers as those we sell stuff to, whether products or services. That’s fine and undoubtedly important, but we need to think more broadly about all who we provide value to and rely on.

    While generating value for and revenue from clients is essential, to create a sustainable business model and competitive advantage, you must establish and nurture relationships with all the stakeholders that make your enterprise and growth possible.

    Accordingly, I expand the definition of customers to include partners, vendors, investors, employees, advisors, industry, community, natural environment and the other stakeholders I count on. When we build our venture to provide the most value to all parties, we generate goodwill, strong relationships and trust — all of which help us perform at our best and deliver the most to clients (buyers, users, tenants, etc.)

    To explore who your customers are, list all the individuals and organizations you interact with in your business. In a second column, outline everything you provide to each party — get creative.

    Related: How to Target the Right Audience in 5 Simple Steps

    2. Crafting offerings based on actual wants and needs

    As entrepreneurs, we need to know how our stakeholders think. That is, what they value, want, need and fear.

    A common mistake in business and marketing is selling only what you have or know, i.e., building an offer based on what you’ve got. Of course, it’s tough to sell what you don’t have, and you should focus efforts where you have relevant skills and experience; however, you need to dig deeper to understand what customers need and then find ways to supplement or tailor your offering to satisfy those requirements.

    The way to do this is by building an ideal client profile. Let’s look at an example to illustrate. Since I’m a commercial real estate guy, we’ll use an example from my experience (though this concept could apply to any industry).

    Let’s say you own an office building and know your tenants are midsize corporations. They need office space, want it to be up-to-date, and insist on good parking. That’s a good starting point but doesn’t give you much to work with to build a compelling offer and competitive advantage.

    To get a better idea of who your prospects are and what they want, consider the following:

    • What industry are they in, and what unique needs accompany that?
    • How many employees do they have, i.e., how much space do they need? Are they growing?
    • What is their typical budget?
    • What lease terms do they prefer — are they worried about risk or commitment?
    • What is their working and collaboration style?
    • What amenities do they prefer and/or demand?

    We’re alluding to demographics and psychographics (behavioral characteristics) as they apply to organizations and their decision-makers. Let’s do the same for a product or service targeted toward individuals. We can look at:

    • Income level
    • Geographic location
    • Lifestyle
    • Age
    • Education
    • Adoption of technology

    With the insights gathered through this process, you can shape your product or service into something that stakeholders will raise their hand for, saying, “I want this — How do I get it now?”

    This strategy works to understand all your customer groups and is particularly valuable in creating offerings that speak to and attract investors and employees, in addition to conventional customers.

    Related: How Customer Discovery Can Significantly Enhance Your Product-Market Fit

    3. Focusing your marketing efforts where your audience is active

    Another important aspect of your ideal client profile and getting the message out effectively is knowing which websites, social media platforms and publications they interact with and the traditional and digital communication channels they prefer.

    Without solid data that provides a scientific basis to determine your customers’ behavior and communication preferences, trying to get your product/service in front of them is difficult and financially wasteful.

    If you’ve been marketing for a while, you may be sitting on a gold mine of data that could be transformed into actionable knowledge regarding your audience. If you have a lot of data or need help making sense of it, there are data management tools and advisors that can assist with data collection and analysis.

    This brings to mind another important point that I’ve learned from years of experience trying every channel and technology available:

    You don’t need to use every marketing tactic and channel — just those that work and which you can develop a mastery of. Start where you know your potential customers are most active. If they prefer email — roll with it; if they spend hours on social media daily, put your marketing dollars there.

    Once you’ve gained traction in one medium and your system is fine-tuned and generating ROI, slowly build up your tool kit and presence by adding one channel or medium at a time and experiment to find what works best for you and your audience.

    Related: Why Every Marketing Channel Won’t Work for Your Business

    Supporting growth

    Achieving a competitive advantage and sustainable growth is much more feasible when you know your customers, their characteristics, what drives them and the messages that resonate and where to deliver them for maximum response and return. In addition to the quantitative benefits, when your stakeholders feel you’re in tune with their desires, expectations, and values, they’ll buy into your mission and vision.

    Robert Finlay

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  • How to Turn Marketing into a Sales and Revenue Engine | Entrepreneur

    How to Turn Marketing into a Sales and Revenue Engine | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    We’re all being asked to deliver bigger, better results with less investment. A friend of mine who’s a marketing leader at a B2B fintech told me last week that her company slashed her budget by 40% — but kept targets the same. Sadly, she’s not alone. As Gartner’s 2023 CMO Spend and Strategy Survey outlines, 71% of CMOs said they lack the budget to fully execute their strategy this year. Three-quarters say they face “increased pressure to do more with less.” This trend is set to continue.

    Other pain points include proving that the marketing function directly contributes to revenue growth, creating better leads, having a better view of the customer across the business and increasing conversion. Sound familiar? I see this every day with the clients we work with, and the struggle is real — which is why we’re going down a different path.

    Related: Aligning Sales and Marketing Needs To Be Your Priority

    Blended ABM

    It’s all about creating target account acquisition strategies that align marketing and revenue teams around customer experience and growth — increasing conversion, retention and expansion (while reducing budget wastage). We call this blended ABM (account-based marketing), and it sits at the heart of our proprietary AMPLIFY process.

    Why? If you actually want to succeed with less, you must move into a space where you are highly targeted on who you can — and cannot — acquire. This is why we evangelize blended ABM over demand generation. Don’t get me wrong: Demand gen has a relevant place in the marketing mix, but in my view, it’s more reactive to the market instead of intentionally targeting it.

    Do any of us have the time and budget these days to be solely reactive instead of proactive? I’d argue no. Let’s be real: 80% of buyers make a decision before talking to your sales team, so your content is mainly used for research only; no one can afford to just educate people. We need to sell to people.

    Let’s break it down, starting with target accounts. This entails being entirely clear on your most successful ideal customer profile (ICP) and personas — as well as defining your buyer’s journey so you know exactly who your target customer is, what type of company they work for, what their pain points are, who makes up their buying committee and how they buy.

    By sticking with the types of companies with which you have short sales cycles, long business relationships and consistently upsell and expand revenue, you’ll know exactly who to target with a blended ABM approach — and your sales and leadership teams will come to love the strategy. It’s about being bold, confident and deliberate about your target accounts and why you’re targeting them. And for the record, that pool of accounts could still be 1,000 or 2,000 strong.

    Related: The Rise of Account-Based Marketing

    Research and intent data

    Additionally and within those accounts, you’ll likely need multiple micro strategies, for example, a compete strategy. How do you identify the good-fit clients currently utilizing your competition? How do you pinpoint potential customers currently looking at your business rivals?

    Simple: research and intent data! If you start layering intent data on top of this, you can start to see exactly when someone is in the market to buy from a competitor or seeking a product/service like you offer and target them accordingly. With blended ABM, you enroll them in a 1:Many approach, moving them up to 1:Few or 1:1 if difficult to close and worth the time and effort.

    Only focusing on high-probability target accounts increases the likelihood of conversion. There are, of course, a swathe of buying committees currently sitting on their hands; when you can accurately convey your value and how you transform the buyer’s world, you have a greater likelihood of success with activating those too.

    For successful blended ABM, you need a single view of the customer. Align your marketing, sales and customer success teams around a CRM like HubSpot and start sharing vital information on customers, targets, companies and content that’s working (or not).

    Related: Here Are 5 Trends to Watch Out For in Sales and Marketing in 2023

    With blended ABM as the basis of your strategy and the enhanced knowledge of your customer achieved through the above, you’re using far more focused content and ads to only go after those target accounts in the market — especially as only 6% of your target audience is in the market at any one time. This in turn drives higher quality SQLs and clearer campaign ROI, meaning your goals across sales and marketing become aligned, too — and the latter can unequivocally prove its contribution to revenue.

    And as Ewan McIntyre, Chief of Research and VP Analyst in the Gartner Marketing practice said in the aforementioned study, “CMOs need to become a new type of enterprise leader…assuming a more business-focused role that pivots into a period of investing for profitability. Those that carry on status-quo will face significant challenges.”

    This path is for marketing leaders who are pragmatic, if not a little brave — and definitely tired of the status quo. Your leaders will need a bit of education, but the outcomes are clear: higher profitability, better alignment and customer experience. What’s not to love?

    Paul Sullivan

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  • Building Solutions In-House or Finding a Partner: Which Is Better? | Entrepreneur

    Building Solutions In-House or Finding a Partner: Which Is Better? | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Customer demands are never static — what people want or need is constantly changing. Businesses that successfully embrace and adapt to these changes will find themselves on the fast track to growth. But with every evolution, companies have to consider whether it makes more sense to find a partner or create a solution for customers on their own.

    Neither option inherently outweighs the other, so leaders need to understand the pros and cons of each before making a decision, which boils down to one primary focus: the customer.

    Related: In-House or Outsourced? How Do You Decide?

    Focus on the customer experience

    Virtually every company has competition: My company, Vagaro, has several competitors on the market that offer similar services.

    In any kind of dynamic environment, creating a comprehensive all-in-one solution starts with a company asking one question: What user experience does the company want to give its customers? At Vagaro, we might answer that by saying the solution has to be built in, seamless and easy to use — it should interface the same way that customers are used to seeing Vagaro interface at all levels.

    Once leaders have a clear vision of the optimal customer experience, they need to make an honest assessment of the company’s strengths and limitations. In our case, the strength of Vagaro is software development and automation. We have less of a focus on logistics than some other companies: businesses like DoorDash offer a service centered around the logistics of people delivering food, and Uber has logistics around their drivers.

    When we’re presented with situations requiring logistics-heavy features, our approach is to evaluate how we can leverage our strength in software development and automation to provide customers with that all-in-one solution. But throughout the entire process, our focus remains on keeping the customer experience our top priority.

    Knowing when to build

    Integrating with a partner often seems like an easy and expedient way for businesses to quickly offer their customers a solution. The problem is, the partnership doesn’t always lead the business toward its ultimate goal.

    Partners tend to work with multiple companies, not just one business. Because these partners are being pulled in all different directions, they can be slow with developments. Integrations often aren’t as seamless as they need to be. There tend to be elements lacking, which means customers have to do some tasks manually. Companies often end up lifting all the weight, handling marketing, sales and support, too. If the business develops the solution in-house, however, they’re adding to the capability based on what customers are asking for rather than being distracted by other partnership wants or requests.

    Secondly, technologies like cloud services have improved to such a degree that many solutions can often be built in-house. But using these technologies takes time and additional resources. A business has to figure out if putting hours or other assets into these tools makes the most sense.

    Leaders considering developing an in-house solution should first determine whether they have the people to build the solution along with the technology and know-how to move forward.

    If the answer to these questions is yes, build. It might take longer to develop the solution in-house, but in the end, your business will likely have a better product than the competition.

    Importantly, partners can also be a stepping stone to in-house development. For leaders unsure of the profitability or popularity of a certain solution, utilizing a partner for the short term can serve as a quick way to provide a feature and assess how customers take to the product. If customer acceptance is high, the business can feel confident they’ve seen enough to gauge the logistics involved and that the in-house solution will be profitable. But a company that wants to go this route should make sure they have a clause in their contract that’s favorable to the business and partner eventually separating when necessary.

    Related: Should You DIY or Outsource to an Expert?

    Knowing when to partner

    Partnerships make sense when a company needs to fill resource or skills gaps to offer customers the best experience possible. They also are the way to go if the partner can help the company use its existing strengths to a greater advantage. To assess whether a partner can support the desired five-star experience, start by reading through the partner’s reviews and understanding the reputation they’ve created for themselves.

    A good partner should also align their pricing structures with the primary company’s. Consistent pricing structures are usually less disruptive for customers. They also indicate that the company and partner have a shared understanding of their market and how to sell.

    Finally, businesses should assess and analyze the technology used by the partner. Companies and partners need to be evolving at the same rate so they can grow together. If a company and partner are in two different places with technology, they may have to do more work to align systems for a smooth, reliable integration. But if the company and partner are on similar pages with technology, they can usually produce an effective solution together quickly.

    Multiple paths, one big picture

    All-in-one solutions are critical to an excellent customer experience. Clearly, there’s more than one path a business can take to develop those solutions, whether that’s building in-house or partnering. And in other cases, a company might use a partnership as a way to see if longer-term in-house development is possible in the future.

    In every instance, the bigger picture matters most. When considering a partnership or an in-house solution, the key is to focus on how the overall decision impacts the company’s vision and growth prospects. By carefully assessing the current state and future goals of the business, leaders can identify the path that aligns with the organization’s overarching plans and values, ultimately leading to the creation of a cohesive all-in-one solution.

    Related: What You Need to Know Before Entering a Partnership With Software Solutions Providers

    Fady

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  • The 6-Step Blueprint for Excellent Customer Service and Lifelong Customers | Entrepreneur

    The 6-Step Blueprint for Excellent Customer Service and Lifelong Customers | Entrepreneur

    Opinions expressed by Entrepreneur contributors are their own.

    Every day, as a customer service consultant and customer service turnaround expert and trainer, I work with companies to lift themselves up and out of the cluttered marketplace in which many of today’s businesses find themselves.

    My goal with each of my clients is to use exceptional customer service to elevate you to the point that you are no longer considered an interchangeable commodity in the eyes of your customers. Through developing an ethos and practice of exceptional customer service, we work together to get their companies to a place where they command engagement and true loyalty from their customers for now and as they grow.

    To create lasting impressions and build enduring loyalty, businesses need to transcend the realm of the ordinary and venture into the extraordinary. This is because humans remember events in their lives in terms of images and in stories they tell themselves. And a great way to have your business and brand star in these stories is to deliver “wow” experiences that will leave an indelible mark in your customers’ minds.

    A “wow” customer experience requires you to go beyond just fulfilling basic expectations. It’s about serving (and, ultimately, engaging) customers in creative, unexpected ways that connect emotionally with them. Such experiences live on in customers’ memories and become stories shared with friends, family, coworkers and potentially a wider audience through social media.

    Related: Yes, the Rich Are Different — Here Are 5 Customer Service Secrets I Learned While Working With Wealthy Clients

    Creating wow moments not only benefits customers but also inspires employees. It can foster teamwork, improve employee retention and boost company-wide morale. But how can your organization consistently deliver such remarkable experiences?

    Here is a six-step blueprint for achieving ‘wow’ customer service and creating lifelong customers:

    1. Empower employees to create ‘wow’ moments

    The first step towards creating ‘wow’ experiences is the (scary) one of empowering your employees. They should feel confident about making on-the-spot decisions without needing managerial approval every time. And don’t treat empowerment as some add-on or “nice-to-have.” rather, the time spent by your employees creating ‘wow’ is their job.

    2. Celebrate ‘wow’ efforts

    When employees go the extra mile for customers, applaud their efforts rather than penalize them for spending extra time. Positive reinforcement encourages employees to continue delivering exceptional service. You need to take care not to criticize your employees if they don’t complete all their functional, checklist-type items because they were otherwise engaged in creating ‘wow.’ Or to give them a hard time if their early, awkward efforts at ‘wow’ don’t go entirely smoothly.

    Related: The Importance of Recognizing Your Employees

    3. Encourage anticipatory service

    Anticipating and addressing needs or desires that customers haven’t even voiced can significantly enhance customer service. Strive to serve even the unexpressed needs and wishes of your customers. This depends on various factors and behaviors working in concert:

    •Training your employees in what is called “situational empathy”: the type of empathy that can be transformational, in real-time, on the phone call or face-to-face or digital interaction that your employee is engaged in with a customer right now

    • Collecting useful data on individual customers and their preferences and past behaviors and putting this conveniently at the fingertips of your customer-facing employees

    • A mindset — that needs to start, organizationally, at the top — that we are more than order takers and problem solvers; we are here to find ways to go above and beyond in ways that our customers will find both useful and “wowing.”

    4. Be mindful of timing

    Not every interaction is an opportunity for a ‘wow’ moment. A customer in a rush or busy with their phone call may not appreciate an interruption, no matter how well-intentioned. Train your employees to recognize when it’s the right and wrong time to ‘wow’ customers. If an employee is sensing a “please, just the facts!” attitude or a sense of being in a hurry, then the employee should back off and save their ‘wow’ efforts for another more suitable moment. (Or, if this seems to be always the disposition of this particular customer, then they should save the ‘wow’ to use on other customers who will be more appreciative.)

    Related: Investing in Your Employees Is the Smartest Business Decision You Can Make

    5. Create ‘wow’ moments through meaningful connections

    ‘Wow’ moments don’t always require grand gestures. Sometimes, an empathetic conversation or an emotional connection can leave a lasting impression. For instance, Zappos employees strive to make a connection on every phone call by bonding over shared interests or concerns based on cues they pick up on from the customer.

    6. Hire wow-capable employees

    While almost any employee can be trained to deliver ‘wow,’ starting with the right team can make your journey smoother. Aim to hire individuals who naturally exude warmth, empathy, teamwork, conscientiousness and optimism – traits that are instrumental in delivering ‘wow’ customer service.

    Creating ‘wow’ customer service is a strategic process that requires a shift in mindset, a commitment to employee empowerment, and a focus on anticipatory service. By implementing these steps, you can create memorable customer experiences, build enduring loyalty and ensure the sustainability of your business model.

    Micah Solomon

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