How to Improve the ROI of Your Customer Experience Program

Connecting your tow truck centreville va customer experience metrics with financial data can sometimes create more questions than answers. If you are looking forward to improving on the products and services you offer to your customers, you must be ready to embrace data. One of the best ways to go about it is to leverage both machine learning and the voice of your customers into analytics.

Customer feedback software helps businesses to understand customers are a wider scale and reveals the key drivers behind what customers want. If you are looking forward to improving your ROI on matters of customer experience, here are some sure ways to go about it.

Segment your customer base

To have a better understanding of the customers interacting with your business, you need to categorize them into groups that are based on their characteristics and behaviors. Not every customer acts the same and if you can identify buyer personas, you stand a better chance of uncovering opportunities that can help increase your revenue. When segmenting your customer base, there are different ways to go about it. It can be based on products purchased, average transaction size, monthly visits, job title, age, location among others.

 

Review qualitative data

Make use of text analytics to review qualitative data. Rather than manually sorting with the use of support tickets and listening to phone recordings, make use of text analytics software. The use of such software can help in analyzing qualitative data from surveys, online reviews, customer conversations, social media conversations, and much more. You can make use of this technology to process valuable information without even having to personally review each piece of customer feedback.

 

Look for historical trends

Once you have gathered a significant amount of data, you need to look for patterns that outline what has worked or has not, especially in the past. Do all customers in a specific segment talk about a particular feature? Are you experiencing a higher churn rate with a certain target audience? What available data is there that shows perceptions customers have of a particular brand?

 

Identify opportunities for growth

You need to identify opportunities that will yield the most impact. Once you have e a feeling about the programs that are working, look for specific elements that can make a significant impact on customer experience. This is the point where customer experience metrics come into play. Look for any initiatives you have launched in the past that have yielded success and replicate the same to the audiences you have. Make use of data to make important personalization.

Customer experience ROI is not a fun stat for any business. However, when done right, it helps one to prioritize upcoming projects and generate good results based on customer experiences. The key to calculating customer experience ROI is to connect metrics that you already measure to financial metrics you have. If you can compare that contextual information with customer feedback, you stand a better chance to understand whether or not you have a successful customer experience program.

Conflict Resolution Skills to Use with Your Team and Your Customers

As much as we would all like to have a smooth life, both personal and in businesses such as Vienna equipment transport, we all know organizations can never be free from conflict. Conflict is a major part of work and life. Many of us might fear conflict but in essence, it’s good and healthy and vital for the growth and development of relationships. Additionally, conflict resolution is an important process for all employees to go through.

Conflict Management

Conflict management can be approached used different styles. While these styles may differ, every style normally utilizes the same management skill. To have successful management of conflict, you will need to have different skills and learn how to use them most amicably. Here are some of the most important skills you will need to have.

 

Active Listening

Active listening is a skill that is used y salespeople to connect them with customers during the sales pitch. It is a useful skill when you are trying to manage and resolve conflicts. It begins by actively focusing on what a customer has to say. Make note of what a customer has to say and frame your responses after listening to a customer. Additionally, you need to be sure to ask vital questions when anything is not clear.

 

Emotional Intelligence

Emotional intelligence refers to the ability to read and understand your emotions, as well as the emotions of others. This is very important for conflict management because it prevents issues from escalating. If you can have a successful interpretation of your opponent’s emotions, it becomes easy to prevent conflict from escalating. You can eliminate frustrations and anger from people if you know how to react to their feelings.

 

Impartiality

Conflicts can be hard to resolve because sometimes, people never stay focused on the conflict itself, but deviate to other things. Conflict acts as an initial spark that ignites previous tension that has built up between two parties over time. Now that the problem has started the conflict won’t be resolved because of the historical biases that have existed between the participants. In this case, it’s important to separate conflict from people who have been involved with it. Do not focus on people based on their characteristics, but instead work on solving the key issues at hand.

 

Positivity

It becomes hard to agree if one party is happy about the conflict at hand. Halfhearted compromise is not a true motivator when it comes to solving conflict. In most cases, it can even provide a participant with an escape route from having to continue to solve the issue. Being positive with conflict management is a great way to keep progress and forge forward. Conflicts are useful roadblocks and you will need to be willing to overcome them if you want to come to a resolution.

It is also important to keep open communication. Conflicts create a relationship between the parties involved and will most likely not end with finding a resolution to the problem.

How to Choose the Right Marketing Automation for Your Ecommerce Business

Now that you have decided to take marketing for your towing service or any other business to the next level by investing in marketing automation, there are some expectations you will have. When choosing marketing automation to guide your marketing, there are a couple of factors you will need to consider to guide you in making more informed decisions.

Marketing Automation

Marketing automation makes use of online software to automatically execute your marketing tasks such as sending emails, collecting data, and driving your strategy. With the incorporation of marketing automation, your eCommerce business stands to benefit a lot. If you are looking forward to choosing a marketing automation platform, here are a couple of factors to consider.

User Interface

You need to consider how simple or overwhelming the platform you are about to work with will be. Many of the platforms you will be interacting with will not have an intuitive design. To determine if a platform is the right one for you, ask for a demo to test the platform. Look for aspects such as clear navigation, contextual information, and ease of use. When jumping to a new platform, there will always be a learning curve, and you must ensure it is easy for you to learn the platform.

Features and Integrations

Each marketing automation platform will have different features. It is important to ensure you choose a platform that has the capabilities you need. Additionally, consider the type of technology the platform is using. The platform must have all the features you need, so ensure you have a list of all the features you need before using the site. the system should natively integrate with existing technologies as well. Additionally, it should have an open API.

Customer Support

When jumping to new and unfamiliar systems, you will always want to have the best support possible. It is important to understand technology is not always perfect, and that customer support is vital to have a lot of aspects fixed. It is important to have external help that can guide you in solving common problems. When purchasing such systems, check to ensure there is the provision of support. Most common types of support are provided through phone, email, and live chat.

Learning Resources

When purchasing a new automation tool, you need to ensure there is the availability of online resources that can help you get the most from your new system. Some platforms will have guides and product videos that could prove to be very resourceful. Not every resource is going to be useful, so you must have a good understanding of what each resource will teach you. You also need to have unlimited access to these resources and have the resources updated regularly.

Additionally, it is important to ensure you get started with a platform that has a user base and you can find online reviews. Although choosing the right platform for your business will depend on the needs and goals of a company, you will also want to understand how others are using the tools and what they get from the tool

A Guide to Startup Accelerators

Suppose you have started a new towing service company and you want to accelerate to achieve the maximum growth within the shortest time possible – in such a case, how do you go about it? We all know that startup life can be lonely, especially if you don’t have a competent team surrounding and supporting you. The good news is that organizations and investors all over the world have put together intensive business programs to combat that loneliness and provide much-needed mentorship, education as well as support. This is what we call a startup accelerator.

Startup Accelerator

Startup accelerators are intensive two or three months’ programs that established startups – those with a fixed team and minimum viable product attend to accelerate the growth of their businesses. Accelerators typically involve a selective application process. Once you have been accepted, startups revive education, networking, mentorship, and potential funding.

It is a common practice for startups to enter accelerators with the hope of walking away with funding and investors. Some programs will guarantee some sort of funding in exchange for equity. Other programs will give away limited amounts of funding for nothings – only working with you to achieve completion of the program.

Startup accelerators work in the following ways;

Choose your accelerator

There are hundreds of startup accelerator programs all over the world.

These programs will vary based on location, expert involvement, industry, and funding opportunities. In the United States, most of these opportunities are in bigger cities such as Boston, San Francisco, and New York. You will also find notable accelerators in almost every developed country. When looking for an accelerator, you need to look for aspects such as social proof, relationships, and networking, the industry as well as location.

Apply for the accelerator

Startup accelerators are notoriously very difficult to admit startups. There are a couple of factors they will look into before accepting a business. First is coachability – you must accept to be coached and mentored. You need to be ready to learn and accept suggestions and listen to expert opinions. Additionally, you must have a minimum viable product and real customers. Without a minimum viable product and customer profile, accelerators will never consider your application.

Focus, Learn, and Grow

Applying for an accelerator is tough but once you have been selected, expect real work to begin. Be ready to travel to the accelerator location, set up your team, and get started. You will be allocated a dedicated co-working space where your team can focus on the accelerator and education opportunities. There will be educational seminars and workshops that cover different topics. There will be group and individual mentorship opportunities from industry experts, founders alike as well as investors. There will also be one-on-one check-ins with accelerator leaderships.

At the end of the learning process, you will need to present your business model and receive funding. This is what sets accelerators apart from other intensive business programs. Founders will participate in a demo day to present their business model and attract funding.

 

 

Why and How to Listen to Your Customers

Your customers have high expectations and are very skeptical of the companies they choose to do business with. With just one missed expectations, customers would not hesitate to change providers for what they perceive to be a better opportunity. Stats show 82 percent of customers are willing to switch products or service providers after just one bad experience with a company’s customer service department.

To avoid losing your customers, it is important to pay close consideration to the demands of your customers and analyze their feedback so that you correct your mistakes. Listening to your customers is not just about hearing about their problems. It is not just about picking a phone and answering. To actively listen to your customers, you will need to connect with them and understand how you can help them achieve their goals

Here are some of the reasons you need to connect to your customers

Reduce churn rate

When it comes to churning rate, poor customer service is the second biggest contributing factor as to why customers switch providers. When customers don’t feel the value during a service interaction, they will be quick to look for your competitors to provide them with the value they are missing from you. Consumers will even be happy to pay for more to another provider if they are guaranteed value.

Improve customer loyalty

No matter how great your product or service is, you will never be completely safe from the churn. A single poor interaction with a customer may contribute to churn. This shows the importance of customer service. Your team needs to deliver an A-game to ensure customers remain happy and loyal to your brand. Listen to your customer feedback and handle all their expectations.

Increase customer retention

When your representatives listen to your customers, service interactions will without a doubt be smoother. Your representatives and customers should always be on the same page. You need to ensure there is no friction between you and your customers, as lack of friction will contribute to more customer retention. 90 percent of customers will remain loyal to your offerings if you can always deliver value to them.

Identify opportunities for upselling and cross-sell

Listening to your customers is not only a way to improve on customer satisfaction, but will also be a tool you can use to upsell and cross-sell to your customers. You might find yourself in a situation where you are troubleshooting an issue for a customer. When a customer explains their problem, they might highlight their frustration and the limitations they are encountering. You then get a chance to explain the benefits of a premium plan and how it could solve their problems.

When you actively listen to your customers, you will also create delightful customer interactions. You get a chance to make conversations to be personal. It is these simple delightful interactions that create lasting memories and solutions in the minds of your customers. Try as much as possible to humanize and create lasting moments with your customers.

How to Rethink Your Branding Strategy for The Future

With businesses starting to re-open and stay at home orders gradually getting lifted, it only natural to feel normalcy has started to creep in. However, we can’t be sure when everything will return to normal. So as a business, it is always a good thing to get prepared no matter for any adversities that may come in. There are plenty of works that any business needs to do, but of importance to us, today is branding strategy.

Since the pandemic started, many brands have opted to embrace hopeful and optimistic messages, to resonate with the mood of their followers. The post-pandemic world will bring its set of challenges. Here are a couple of ways to rethink your branding strategy for the future.

 

Identify key data patterns

You need to identify data patterns that point to the new normal. A crisis as huge as COVID 19 can bring massive changes to consumer behavior, with new data sets coming up. Analyzing real-time data can be very helpful in identifying emerging trends that might help your business more. Acknowledge any data that will help you make better and informed decisions on your branding strategy.

 

Focus on the human side of things

You need to go beyond data and focus on the human side of things. In a data-driven world, we tend to aim at sophisticated insights powered by artificial intelligence. It normally presents the best way to get through vast volumes of data and get more actionable information for better business decisions. However, you won’t be able to access the entire picture by only using algorithms. You must embrace the human side of things.

Set higher standards for your brand.

Setting new values will be perfect in rethinking your branding strategy. As things change, you must be ready to evolve as well. You need to review your strategy and create new priorities. Key issues such as health concerns and worker treatment must be placed at the forefront. You would expect audiences carefully scrutinizing your health measures and how you keep your workers safe. You also need to go to the extra mile of committing to social causes and giving back to the community.

 

Tighten up your ties with the community

This pandemic has greatly affected local communities. On a business level, people have now resorted to local for their daily needs. On a more general level, people are getting more connected to local volunteers and aid groups. Both have strengthened neighborhoods and increased a sense of community togetherness. These issues will have an impact on the way consumers see companies and also the way they do business with these companies. This should be an impact that should inform your branding.

From history, we get to learn that pandemics like this one have always brought structural changes that have had a profound impact on our societies. It can be hard to think that such things won’t happen again in the future. With that in mind, the suggestions we have discussed above act as a good starting point in rethinking your branding strategy for the future.

What Is a Marketing Plan?

A marketing plan is a road map that helps to introduce and deliver your products and services to potential customers. It doesn’t need to be long and complicated and doesn’t have to cost a lot of money to complete. However, it takes quite some time in terms of research to have it developed. Putting in the right amount of time and resources to develop a marketing plan can be key to ensuring a company or business succeeds.

A marketing plan contains an outline of a business’s specific marketing strategy and includes concrete actions to be taken, as well as an explanation of anticipated results. The marketing plan serves as a road map for companies to execute and measure their marketing efforts over a specific time. A company can develop different types of marketing plans including;

 

–         Paid marketing – Which involves advertising and pay per click

–         Social media marketing – This involves the use of different social media channels such as Facebook, Instagram, and others.

–         Period marketing – Which entails campaigns used over a designated period.

–         Content marketing – Which entails the use of original content to showcase products and services

–         New product or service marketing – Where you plan to showcase a product launch.

How Marketing Works

An effective marketing plan will help a company understand its target market and competition, as well as the impact and results of marketing decisions. It also provides a roadmap and direction for future initiatives. You will not be able to develop a marketing plan without performing proper market research. Market research is needed to guide the direction of all your marketing efforts and gives you vital information on your target market (potential customers) and the feasibility of your products and services.

Proper market research will entail the following;

–         Monitoring industry and economic trends

–         Scouting the competition to figure out how to gain a competitive edge overpricing and customer service

–         Determining the best ways to reach your target market through means such as traditional advertising, social media as well as other channels.

Marketing plans will vary depending on the industry it is developed, the type of products and services involved, the goals you want to achieve among others. However, certain elements will always form part of any marketing plan. These include;

– Executive summary and business description

– Situation analysis

– Marketing goals and business objectives

– Target market and delivery plan

– Unique selling proposition and tactics

 

The executive summary contains a high-level overview of the marketing plan. It is a section that provides a summary of the plan, for those who may not be interested to read the entire document. The business description part talks about what the business is all about. It includes aspects such as location, business owners, company statements, core values, position in the market, external factors currently impacting or likely to affect the business, among others. It is important to put in place proper resources and time to ensure you come up with a comprehensive business plan.

Everything You Need to Know About Business Models

When you are starting a business, one of the most important aspects you have to get right is planning the business model you will adopt. At the first stage, you would want to determine what you will be selling and to who you will be selling. You will need to select a model that has proven to work and incorporate it into your planning and research. You will need to emulate a business that has consistently performed well and research on what they do right and things they get wrong to avoid those pitfalls.

What is a business model

A business model is an outline of how a company plans to make money with its products and services, in a specific market.  At its core, a business model will have four key things;

–         What products or services a company will sell

–         How the company intends to market its products and services

–         The kind of expenses it will face

–         How it expects to turn a profit

There are many different types of business models and these models keep on constantly changing.  Here are the most common types of business models you should know.

 

Subscription Model

With a subscription model, it can be applied to both traditional brick and mortar businesses as well as online businesses. Essentially, the customer will be paying a recurring payment every month, or at another specified time, to access a product or service. Examples of businesses using subscription models include Netflix and streaming sites such as Hulu, HBO among others.

 

Bundling model

A bundling model is as it sounds. It is a business model that involves companies selling two or more products together as a single unit, for often a lower price than they would charge while selling the products separately. This type of business model is used to allow companies to generate a greater volume of sales and perhaps market products and services that would otherwise be a bit difficult to sell.

Freemium Model

A freemium business model is one that has gained a lot of popularity due to the prevalence of online software as a service business. It has a simple basic framework. A software company will host and provide proprietary tools for their users to have free access such as an app or tool suite. However, the company will withhold or limit the use of certain key features that with time, their users will likely want to use on a regular basis. To gain access to those key features, users must pay for a subscription.

Crowdsourcing model

A crowdsourcing model involves receiving opinions, information, and work from different people on the internet or social media. This type of business model allows companies to tap into a vast network of talent without having to hire in house employees. An example is how many traffic apps encourage drivers to report accidents in real-time for the benefit of other app users. Others employing this model include Wikipedia, IMDB among others.