Showing posts with label profit. Show all posts
Showing posts with label profit. Show all posts

Friday, February 22, 2013

Tough Times Means Time to Innovate!

I think we'd all agree that things seem pretty tough out there in the business world today.

In fact, many would think we have been hit with the perfect storm - recessionary like conditions, political uncertainty, growth in internet ecommerce, increased consumer saving, just to name a few.

However, as a business owner, you have choices available to you that will influence the outcomes that your business will provide you. These are simply:

1.    Do nothing and hope that the good times will return

2.    Try something different

Now there is an old saying that it is a sign of insanity in thinking that if you keep doing the same thing you'll get a different result! So, if you continue to do the same as before which was not working, you are most likely to get the same (or worse) result.

It is possible that we are in the process of an evolution in how we conduct business. The things we did in the past may no longer be effective or relevant to achieve success in the future. We live in a brave new world where we will need to continue to listen to customers and markets - in general look outside our business for strategies that will differentiate our business from the past and our competitors.

Of course, some of these strategies may fail so there is an element of risk involved! However, profit comes from risk and identifying winning strategies involves testing - in other words, not betting the house on one option.

So, what are you doing to be innovative?

Speaking about resistance to change - we strongly recommend the book "Who Moved My Cheese". This is a short, easy to read book about how change can sneak up on you and leave you exposed. For those who don't like reading, click below to view a short video:




The future is entirely in the hands of the person who looks in the mirror at you each morning!

Oh, and one more thing. You may also need to contemplate that when things are extremely difficult, then an appropriate action may be to get out. Industries and markets change - sometimes for good. And what was once a viable, thriving industry may no longer be. Examples would be typewriters, buggy whips, film cameras and processing, newspapers and video hire stores, just to name a few. The key is to know when to get out!

What are you doing differently than, say 5 years ago?

Friday, January 11, 2013

Guarantee Your Business Success (or Substantially Increase Your Odds!)

Recently a business partner of mine outlined a couple of instances of poor customer service that he or members of his family experienced whilst shopping locally at Christmas time.

The disappointing thing about one of those experiences was that the perceived poor customer service was provided by the new owners of a business that had just been purchased.

Now you would think that a business owner in these circumstances would be falling over themselves to provide a great customer experience - the fact that such poor service was provided, well, just astounds me!

This is not unusual, however - if you asked any business owner what was unique about their business, you can almost bet your bottom dollar that their answer would be "our customer service".

Well, I'm sorry to say that based on my experiences, these are just motherhood statements that have absolutely no relevance to what is happening "on the floor". And it applies to all industries, whether its retail, service or otherwise.

So what are the signs of poor customer service? I'm sure I really don't need to spell them out - but given that the majority of business owners don't really understand what great customer service is, let alone members of their team, here are some examples that immediately spring to mind:

  1. Lack of product knowledgeCustomer Service Questionnaire
  2. Lack of acknowledgement of customers
  3. Failure to return phone calls or emails
  4. Failure to truly understand a customers needs
  5. Lack of courtesy, manners and respect - what happened to the word "thank you"?
  6. Over promising and under delivering
Unfortunately, the cold hard facts are that in the majority of cases, customer service is dead.

The good news, however, is that for the minority of businesses that understand and provide a great customer experience, their businesses are flourishing, even in these most difficult times. For the remainder, they'll continue to blame the drought, the recession, the internet - anything or anyone other than themselves. And until they take a good look in the mirror and accept responsibility for the situation, their business will continue to underperform or possibly fail.

So... what can you do?

What you need to do is create a system built around your agreed customer service standards. The beauty of having established customer service standards is that they can become part of the fabric of your business - a critical part of your recruitment and training systems. 

Don't have any customer service standards?

Then create some! Look at all points of contact that you have with a customer - let's call them "moments of truth" Map out the process and for each point of contact set in place clear actions to create the experience you wish to provide. You can involve your team members as well as customers in this process.

Document your customer experience steps to create a customer service system and service standards.

It is not rocket science and does take time. However, the rewards are substantial and on going.

I'll finish with one final point - it doesn't matter how good your customer service is, if the quality of what you produce is sub standard, you will not succeed, not matter how good your customer experience is! (Although you may stay in business a little longer)

Do you have documented customer service standards supported by a clearly planned customer experience system?

If not, what is stopping you?

I'm interested in any comments you may have.

Friday, November 2, 2012

Growing Your Business Through The Use of QR Codes


A QR code (quick response code) is a type of 2D bar code that is used to provide easy access to information through a smartphone.


Example of a QR code

In this process, known as mobile tagging, the smartphone’s owner points the phone at a QR code and opens a barcode reader app which works in conjunction with the phone’s camera. The reader interprets the code, which typically contains a call to action such as an invitation to download a mobile application, a link to view a video or web page or an SMS message inviting the viewer to respond to a poll. The phone’s owner can choose to act upon the call to action or click cancel and ignore the invitation.

As such, the use of QR codes provides immediate access to relevant information to customers. In a sense, it provides a link between the physical and on line which can be a valuable tool in keeping front of mind with your customers.

How do you create your own QR Code?

You firstly need a URL or web address for the relevant web page, video or on line offer. Obviously, this means that you will need some form of online and/or social media presence to pursue this strategy - a great incentive to take that first step, if you haven't already!
You firstly need to download your QR generator. A Google search for "free QR generator" will reveal many free QR generator applications. Examples of free QR generators include:
  •  bitly.com  (the QR Generator that I use)
  •  qrstuff.com
Once you have downloaded your QR generator and installed in onto your PC, its easy to create a QR code to suit your specific purpose - just copy the relevant URL (web address) into your QR generator and the QR code will be produced. Then copy the QR code and:
  •  Print it on signage
  •  Put it in your advertisements
  •  Put it on your labels
  •  Put it in your leaflets etc etc
How do your customers read your QR Codes

Your customer will need to have downloaded a QR reader to be able to scan and read your QR codes. There are many free QR readers for smart phone or tablets available for download via the various app or android stores.
Once the customer has their QR reader downloaded on the their smart phone, they can simply scan the code which will link them directly to the specified web address. In important feature of most QR readers is that the app will store the web address for future reference by the customer - in a sense, keeping a permanent record of your contact.
 


What are some practical uses of QR Codes?
You really need to open your creative mind - it's unfortunate that most of us our creative mind has stopped developing by the time we reach year 5! It's time to kick start it again. Here are some tips:

Where?
  • Back or front of your business card
  • Brochures or other marketing materials
  • Sides of emails or trailers
  • Product tags or packaging including labels
  • Signage
  • Convention and event name tags
  • Restaurant menus
  • Event ticket stubs
  • Point of sale receipts
What?

QR codes could link to:
  • Installation instructions
  • Sources for replacement products, parts and/or service
  • Directions to your business
  • Valuable coupons and offers
  • Recommendations for complimentary products and services
  • Free downloads
  • Product demonstrations
  • Customer feedback forms
What could you use QR codes for?
I set up a QR code to provide more information about a seminar I was running. This was placed on all promotional material including emails so that a reader could watch and hear me talking about the seminar. Simply scan the QR code below to watch the video!
I trust that you have found this subject interesting. If you have any questions relating to the use of QR codes, feel free to email me at  chris.foster@greentaylor.com.au