Enabling clarity so that people serving brands can maximize their influence in the marketplace
In the business world, profit is undoubtedly crucial. But what if your relentless pursuit of profit starts eroding the very foundation upon which your business stands? When an organization becomes more profit-driven than solution-driven, it inadvertently becomes anti-customer. Here are some glaring signs that your brand might be heading down that perilous path and what you can do to steer it back on course.
It is disheartening to see how many individuals have become accustomed to poor service. They have grown so accustomed to receiving subpar treatment that they may even castigate those who stand up or speak out against it. This normalization of mediocrity perpetuates a cycle of complacency, preventing any meaningful change from taking place.
Many customers care about your business. Not all customers are “pyschos” looking for the slightest slip up to drag your business’s reputation on social media. It is your job to identify them, listen and look to address their concerns. Do not squander the valuable 20%.
The confluence of self-leadership, nurturing support systems, and adeptly handling detractors equips us with a robust framework for personal and professional development. These are not mere strategies but foundational pillars that sustain us through the transitions of life and propel us towards our envisioned growth.
quality, price, brand recognition, and convenience … pivotal factors influencing consumer choices this season, underscoring the need for retailers to balance these elements adeptly. The art of storytelling also comes into play here; where intelligent, relevant, and accurate content creation can sway undecided shoppers. Why? Because many will be making choices based on emotionally driven impulses. However, it takes a retailer that has invested in customer knowledge to execute this excellently in time for Valentine 2024, which is just around the corner.
Investing in technology that adds value to your business is paramount. For retailers with products sporting small profit margins, measuring critical metrics such as basket sizes and foot traffic becomes essential. You cannot improve what you do not measure.
Retailers are sitting on a treasure trove of information about their customers’ preferences and behaviours. The key lies in how effectively this data is harnessed. Fortunately, technology has made this task more manageable.
At its core, marketing is about identifying, anticipating & meeting customer needs… when managed effectively, marketing becomes profitable. In fact, the process of marketing is not complete until it yields results which should eventually contribute to the bottom line.
Referrals are a powerful driver of sustainable growth. One moment we are talking about how Twitter is losing the plot, the next Threads from nowhere hits over 70 million sign ups and still counting! That is how powerful referrals can get. I do not recall seeing any aggressive ad campaign behind it. By focusing on four key actions, you too can harness the potential of referrals and build a thriving business that stands the test of time.
Traditionally, sales has been viewed as a one-way street, where the seller presents their product or service and the buyer either purchases it or not. However, in today’s market, this approach is no longer sustainable. Customers want more than just a product or service; they want solutions to their problems. Therefore, people in sales must be open to problem-solving and have a deeper understanding of the customer’s needs and how they can solve their problems. If all you have to offer your clients is products and services and more of the same, plus subscriptions, you will lose credibility.