A Place In This World
Walking down the road alone is lonely and eventually, even the strongest walker gets tired, lost, or is affected by the elements.
Customers don’t know what they want, so don’t ask them.'Cause they're still trying to figure it out. Businesses don't know what's down this road, so they're just walking. We are all trying to see through the rain coming down, and I know I'm not the only one who feels the way I do. But I seem to be one of the few wearing my heart on my sleeve and discussing it. How do businesses find a place in this world? That is the question of the day. How do we continue to strive when everything we have known is no longer the way it used to be? We adapt.
A New Day in Business
And yes, tomorrow's just a mystery, but that's okay because if you set a system up that addresses customer expectations today tomorrow, you will be ahead of the customer game and ready for the next evolution in business. As the market changes, the more it stays the same. Companies must always remember that a customer has many choices of who to spend their funds with. Do not get comfortable in the view that you have your customer's heart through and through. Like today's market, loyalty can be fickle. Customers not only look for the best product, but they also want service excellence as well.
At the end of the day. Business exists to make a profit and the dollar amount brought in is directly attributed to what, who, and how you put your product out!
The Power of Word-Mouth
The use of the world wide web has allowed many companies to tremendous success without ever utilizing advertising. Word-of-mouth recommendations are an excellent way to gain a continuous revenue stream. Well-established brands have realized their best advertising is through their customers and are now starting to reward customer advocacy. Influencer marketing perks are not a traditional loyalty program or advertising plan, but it yields results that increase revenue. Individual customer actions, friends referral, post sharing, and content creation are fueling brand growth.
And they will give you value back! It is that simple. embrace your customers and share the love.
According to Smallbizgenius
82% of companies agree that retention is cheaper than acquisition.
75% of consumers say they favor companies that offer rewards.
56% of customers stay loyal to brands which “get them.”
65% of a company’s business comes from existing customers.
Increasing customer retention by just 5% boosts profits by 25% to 95%.
58% of companies pursue personalization strategies for customer retention.
TaskSuite is the goto solution for smart business as it does the powerlifting to allow businesses to concentrate on product innovation and customer engagement.
The Power of Technology
Growth means little to nothing in the long run if you can not maintain it or continue to engage customers and continue to grow that relationship with renewal sales. This is where well-established brands tend to fall short. They are so heavily invested in high dollar status solutions, and sadly, they do not aid them in improving their Customer Relationship Management. With customers having multiple brands and endless competitors coming into the market, companies must tread lightly and invest heavily in technology, which will help them gain and retain the market share. CRM technology is a tool that should be the core logic of your business, and it will be the glue that keeps your business going and always growing to find a place in this world.
By Charl Naude, TaskSuite