Over time, customer journey mapping has become a wildly accepted tool, and leaders are far more willing to leverage their power; particularly, when given guidance on how to construct a map that will offer visibility to improvements across people, process, and technology.
While customer journey mapping is popular today, I’ve often seen companies benefit from four strategies to garner more value from mapping efforts. I’ll list these four approaches below and discuss two of them this week and the other two in next week’s blog.
http://customerthink.com/customer-journey-mapping-and-the-road-beyond/
Online customer reviews can make or break your business. Entrepreneurs find it a priority to learn to react to people’s feedback, both positive and negative.
The owner of EssayPro (an essay writing service that provides students with academic papers of all kinds) says, “Reviews can considerably affect the business’s reputation. At the same time, it can be truly eye-opening.” He finds it important to read the reviews, respond to the customers, and tells that the below techniques of dealing with the issue “have proven effective”.
http://customerthink.com/7-effective-ways-to-respond-to-customers-feedback/
As businesses owners, our tendency is to think of business in terms of quantity. After all, we’re programmed to think that more is better: more customers through your door means more sales, and more sales means bigger profit for you.
But in reality, not every single person who goes through your door actually goes out having bought something. On the other hand, you can always rely on loyal customers to always spend their money on you. They’re 50% likelier to try new products and 31% likelier to spend more than new customers.
The moral of the story is simple: at the end of the day, it’s wiser to focus your efforts into retaining customers than acquiring new ones because doing so saves you money and creates profitable brand loyalty.
http://www.sitepronews.com/2018/07/03/how-customer-feedback-results-in-better-customer-retention/
While no one likes to hear where they’ve gone wrong, it’s often important that we listen to constructive feedback when it’s given. While praise is always welcome, it doesn’t often tell business-owners and managers where improvements in services and products can be made.
In many cases, it is the criticism from customers that allows you to improve your offers. Not only should you listen to constructive feedback — you should actively seek it. And you can do just that in a number of ways.
https://www.questionpro.com/blog/acquire-reliable-customer-feedback/
We are proud to announce that one of the largest supermarket chains in the Netherlands, Albert Heijn, now uses Mopinion’s feedback software on their website (AH.nl). Albert Heijn – also referred to as the AH or ‘Appie’, as the Dutch like to call it – jump-started its online feedback programme in June of last year (2017). Since then, they have employed various feedback forms across their website with the aim to extract valuable insights into the online shopper journey.
https://mopinion.com/albert-heijn-caters-to-online-shoppers-with-customer-feedback/
As customer experience grows as the key differentiator between businesses offering the same services or products, brands need to be listening to their customers.
According to a study by Walker, by the year 2020, customer experience will be more important than even the price of a product. Meaning that customers won’t care that they have to pay more if they know they will receive exceptional treatment.
http://www.bizcommunity.com/Article/196/33/179007.html/
As a business owner, growing your company is one of your top priorities, but as a small-business founder, you know what a challenge it can be: You may lack the budget for big marketing campaigns or the time to focus on growth, when there are so many other aspects you have to manage. So, if you're a founder in this position, how do you boost your sales and grow your business?
The answer is growth-hacking. The term refers to the process of experimenting with marketing, product development, sales segments and other areas to determine the best way to grow a business. Following are some simple growth hacks small-business leaders should know to help them grow their companies in a short amount of time.
https://www.entrepreneur.com/article/315320/
Most companies take an internally oriented approach to organizing, centered on products, processes and functions such as risk management and marketing. But a few pioneering companies have begun to organize around how customers experience their products and services. The key unit of experience management has shifted to the customer “episode.” And the core management method is now Agile.
https://www.forbes.com/sites/baininsights/2018/06/25/if-experience-is-the-new-product-how-do-you-manage-it/#5a6646973e8d/
To stay relevant today, brands must look beyond the 4Ps of marketing (place, price, promotion and product) and consider how they can better satisfy customers’ needs and expectations.
In addition to generating positive word-of-mouth and improving brand image, customer experience (CX) now plays a vital role in attracting and retaining customers. According to an Accenture report, almost half of Singaporeans (48 percent) are frustrated with companies that fail to deliver relevant, personalised shopping experiences. Among these consumers, 45 percent will choose to switch companies. This highlights an urgency for brands to improve CX. How, then, can brands ensure that they are truly differentiated from their competitors?
https://www.enterpriseinnovation.net/article/7-ways-retailers-could-boost-customer-experience-tech-59147065/
There is no doubt Venture Capital funding is an incredibly helpful option for companies that need capital in order to rapidly scale, but in an age of high-valuations where even great ideas may not make it, some startups might want to consider alternatives that will not leave them with the added pressure of investors breathing down their neck.
So what are the best ways to pursue a bootstrapping strategy?
https://www.forbes.com/sites/jiawertz/2018/06/28/4-tips-for-entrepreneurs-bootstrapping-their-startup/#6085994e4d9c/
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