by virtualworks | Mar 24, 2024 | Accomplishments, Business, business growth, Customer relationships, Leadership, Marketing, Mastery, Productivity
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
Consider some of the following indicators as potential flags for a business in need of evolution:
- Current clients have chosen to move to other companies for the goods and services you once provided to them;
2. There doesn’t seem to be any new business coming in;
3. There have been significant changes within your industry;
4. Service gaps discovered while challenging your knowledge and client requests.
Current clients bring in revenue for your business, so as business owners we do all we can to ensure they are happy with the service and deliverables received. Some of the more common reasons for losing clients are either they are unhappy with the service received, the product delivered, or how much that product costs, but in many cases, businesses have worked hard to deliver a quality product, have remained professional and researched prices well enough that they align to the market. At times we hear business owners say, “I did all of that, but they still moved on.” In these cases, it is possible that the client simply didn’t need the product anymore as it is in its current state. Perhaps some enhancements can be made to your current offerings to provide a little more to clients to give you an extra edge over competitors. A few examples can be found in this Entrepreneurship in a Box’s article. It’s fantastic when current clients hang with us but to continue business growth, new customers are also needed. Positive word of mouth from existing customers is one of the best ways to create this organic growth in customer base, but if you need to go out to find them, you need to get out there. Try attending tradeshows, updating your marketing strategy and image and networking through newer types of media.
To manage both the maintenance of current clients and the acquisition of new clients it may be necessary to take a look for gaps in your current offerings. It’s nice to think we’re doing all we can, but perhaps there are areas you can educate yourself on to provide a more complete solution to clients. Maybe you are a bookkeeping wizard, but new accounting software has come out that you’re unfamiliar with, and you have begun to see a client need related to that software. It might be time to evolve and learn the software to fill in that gap to offer that complete bookkeeping solution.
Innovative changes happen constantly and will continue to do so, with or without you.
When your industry starts to change it may not be very noticeable at first but over time you may see your competitors changing and evolving with innovations and there may be a reason for it. When changes in technologies and how a client’s function in their activities happen, suppliers to those clients also need to evolve and innovate. Check into each of your products and services to see if they are all still applicable or if they have grown stale. If you’re wondering how this can be done, check out this interesting Info Entrepreneurs article touching on some of the ways to innovate.
by virtualworks | Sep 10, 2023 | Brand Image, Business, business growth, Customer relationships, Leadership, Marketing, Mastery, Productivity, Remote Office Management, Time Management, working from home, working remotely
One of my favourite business books is “Raving Fans – A Revolutionary Approach to Customer Service” by Ken Blanchard and Sheldon Bowles. Published in 1993, the concepts in this book are as relevant today as they were then – perhaps even more so. One of the best ways to increase customer retention is to simply over deliver whenever possible. Giving your customers or clients more than they were expecting is a great way to keep them returning to your store or website (read: “raving fan”).
Who doesn’t like to get free stuff?
How can you over deliver to your customers as often as possible? Here are some unique customer service ideas to get you started (not surprisingly, it’s the little things that count and it doesn’t have to cost much).
- Give your customer a bonus, this could be a sample product, access to a coaching call or access to a private mastermind;
- Send them an article or a website link about something you know they’re interested in;
- Offer your customer a coupon for a discount on their next purchase. This also helps to get your customers visiting your store or website again. You could also offer a free sample, a consultation or a buy one get one free;
- If you offer a service, the best way to over deliver is to get the project finished ahead of time. Beating deadlines is a wonderful way to add value to your own offers and gain lifelong customers;
- Small gestures can go a long way in gaining appreciative customers. Sending a handwritten thank-you note by regular mail is one way to achieve this. Other small gestures include sending birthday and anniversary cards, or any number of other card ideas. (Tip: ‘Lumpy mail’ gets opened more often than flat mail…)
- Why not set up something such as a Customer of the Month or Customer Shout Out. Here you would thank your customer or highlight something they did that you thought was really cool;
- Invite them on an outing at your cost and go with them – a round of golf, a cycling trip, concert, festival. This is a fantastic way to build rapport with your customers and shows them you care.
Don’t forget to celebrate with your clients and customers and even fellow business owners. If they win a new contract or make a significant improvement in their business, send them a card or small gift. This sends the message that you’re paying attention.
Another fantastic way to over deliver to your present customers is to network with other business owners. Refer local businesses that offer quality services and products, which you do not carry. By doing this, you create resources for your customers and clients and you also help support local business. Always be sure to check out these sources first though because your reputation is on the line. You don’t want to recommend a bad resource or product to anyone.
by virtualworks | Aug 13, 2023 | Business, business growth, Customer relationships, Leadership, Marketing, Mastery, office management, Outsourcing, Productivity, Team Work, Time Management, Virtual Assistant, working from home, working remotely
When you think of the most expensive admin assistant on the Planet, you might think of someone like Tony Stark’s assistant who puts up with all his quirks, but who is handsomely paid for her hardship. Or a billionaire’s assistant who is available 24/7 and at a moment’s notice may be called upon to drop everything and jump on a plane to Tokyo to attend meetings with their boss. You might think that…… and you would be wrong.
YOU.. yes.. you… are the most expensive admin assistant on the planet.
How can this be true? It’s because studies show that administrative tasks take up as much as 25% of an organization’s time.
So, what does this mean? Before we even talk about the dollar cost of this truth let’s talk about time. As a business owner, working a very conservative 60 hours a week, this equates to 15 hours per week. Which may not seem like that much, but how about when we look at the annual cost of this truth?
720 HOURS per year the average business owner spends on administrative tasks, that’s THREE MONTHS! Take that 720 hours and multiply by your client charge out rate. Not only is that a lot of money for doing back-office work that you shouldn’t be doing in the first place, it’s also money you haven’t billed because you’ve been doing “the paperwork”. If you outsourced these tasks alone at a much lower rate (hopefully) than you bill your clients, just think what you could do with an extra three month’s worth of time and a whole lot of extra money every year!!!
- How could your organization grow?
- What activities could you do with your family?
- How could you invest in your network and members?
- How could you serve your community?
If you have ever thought, “if only I had more time…” (you know that’s just an excuse, right?!?) and yet repeatedly find yourself burning the midnight oil filing invoices, inputting information into a database, updating your social media (or wishing you had time for social media)…
Everyone has the same 24 hours in a day so why not change things up and use those hours to full advantage?
by virtualworks | Aug 28, 2022 | Brand Image, Case Study, Customer relationships, daily lfe, Marketing, Mastery, Travelling
“Before the pandemic, I was making arrangements for my summer holiday to the U.K. Among those many arrangements and bookings I had to make, two stood out in my mind – each of which are a great example of customer loyalty, how to build it and how to lose it quickly.
The first experience was with a large, well known mail order firm in the U.S. I had purchased travel clothing for my trip and not everything fit well so I had to return a few things. The return slip was easy to complete and advise what I wanted done with the returned items.
Rather than me hunting all over the house for a copy of their catalogue, they included one with the order so it would be easy to find substitutions if I wanted. They included a pre-printed return label within its own folded card with instructions. These few easy to do steps made the return of the clothing really easy and hassle free to the extent that I just had to fill in the sender address on the label, tape up the box and drop off at my local post office. It was almost a joy to return the things I didn’t want. Will I purchase from them again? Absolutely!
The other experience was with a tour operator for an excursion of a now well-known castle in Britain. I had made the booking back in March and I was so happy that the date was available as it was going to be one of my last days in Britain – I really lucked out! I was so looking forward to it even though it was 6 months away.
In May, I received a notice by email that my booking was cancelled and asked what other date would I like to choose? I replied by saying it was the only date I was available for the tour and requested that my money be refunded. I waited a week and sent them a reminder. A couple of days after that, they requested my PayPal account address. A week later I checked my account and there was considerably less money in my account than the original amount I paid. There was no explanation by email for the difference. I researched their website to see if there was a cancellation policy, none to be found. I emailed again advising what I had paid and what I had received as a refund and requested they remit the difference immediately. Will I purchase from them again? Absolutely not! Will I recommend them? Not a chance.
In both these situations, the return process is handled by using a few simple steps to keep the customer (me) happy and coming back. One of them has it perfected; the other has a lot to learn!
Do you have any customer loyalty examples to share that we can all learn from? Please comment and feel free to social share below. Thanks!
by virtualworks | Jun 6, 2022 | Business, Case Study, Customer relationships, daily lfe, Leadership, Mastery, Outsourcing, Productivity, Time Management
I was in denial. My driveway needed re-sealing for quite a few years and I was really hoping the night fairies would come and do it for me. Alas, no. A couple of summers ago, I thought I’d do it myself: get the bucket of black goo and the roller from the DIY store and spend time in 35C heat rolling said black goo on my 2 cars wide and 2 cars long driveway. I never quite got around to it. I’m not a procrastinator but somehow I always managed to justify my lack of dedication to this part of home ownership.
About a month ago, a young man from 2 streets away knocked on my door and told me that he had a new business re-sealing driveways for the summer. He was studying accounting at university and thought this type of business venture would help him in school. (Great idea!)
I asked him how much to do the job and he said $195 tax in. I had to think about it – that’s quite a bit of money just to roll out a bucketful of black goo. I looked at my dismal driveway and thought woefully how long I had been putting off the task. I called him back to say that I would take him up on his offer. We scheduled the work for the following day.
My hero came over close to supper time the next day and while I was preparing the meal, I checked in on the progress by periodically going back and forth between the kitchen and the living room. The first thing I saw was him power spraying all the weeds out from between the driveway and the curb. I didn’t even think of that. The next trip to the living room I saw him power spraying the entire surface of the driveway. I would have swept the driveway; I didn’t even think of power spraying it. Then he taped off the entire perimeter of the driveway so that no black goo would get on the lawn. After that, he manually filled in all the cracks and holes (there were many). Only then did he roll out the black goo.
By the time he finished, that $195 was the best money I ever spent for value of work. Not only did he save me the labour of doing that type of work in the summer’s heat, he also provided value because he knew what he was doing. He’s done a lot of driveways and has a level of expertise that I will never have (nor wish to have). Sure, I could have done it, but outsourcing this task yielded much better quality results and freed up my time. Now I have this task off my to-do list.
There is value in everything we do, both personally and professionally; our expertise in what we do daily provides value to others. What do you need help with in your daily life? In my view, it’s worthwhile seeking out resources to help you get things done, things that you don’t know how to do, or have no wish to learn how to do, and free up your time on what matters most to you. Agree? Disagree?
by virtualworks | Mar 13, 2022 | Customer relationships, Leadership, Marketing, Mastery, Productivity, Social Media, working remotely
Just a little reminder today that the art of the follow up is now easier than ever. Why? Because of our ever-increasing virtual world of electronic media, social media, video, audio, smart phones and goodness knows what else will be available tomorrow!
Add these resources to what were used even 10 years ago, and there really is no reason not to follow up with your donors and sponsors for their contribution and to keep in touch with your members.
It’s so easy for organizations to post to their donors’ and sponsors’ Facebook feeds: send them a text message, record a personal video or send an email. On top of this you can use Skype, Facebook or Google Chat or Hangouts to connect and have a virtual coffee break to check in. AND add to this the more traditional ways of keeping in touch with cards, notes and gifts in the regular “snail” mail, there’s no excuse not to keep in touch with your networks. Personally, I like to mail hand-written cards and gifts. From a marketing perspective, there’s nothing more alluring than ‘lumpy’ mail, so include a pen, a block of sticky notes or a little gift with a card; the chances of that piece of mail being opened will increase exponentially. Even if you just write thank-you (for your time, for your call, for your donation, for your sponsorship…), doing so will go a long way. The combinations you can use to keep in touch are endless!
While most organizations spend time recruiting potential members, sponsors and donors, what about your current members, sponsors and donors? Do you ever thank them, take them out to lunch or send them a birthday card or gift? Your current database of contacts are your biggest fans and the most likely to refer. Stay connected with them and nurture those relationships! It doesn’t have to cost a lot of money – it’s the thought that counts.
As the needs and wants of society change, the requirements of many suppliers of goods and services change as well. Changes in technology and the ways to manage them, such as those mentioned in Forbes article on this topic, current issues and other innovations have made it so businesses must be mindful of how these have an impact on their business offerings. So how do you know when it’s time to change or at least time to think about evolving your business?
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