Great customer experience is the key to developing customer loyalty and grow your business through satisfied customers and word of mouth marketing. But what exactly is it? Here we cover customer experience and how to improve it to boost your business.
Effective customer service drives business success. According to research conducted by American Express, 80% of customers would be willing to pay premium prices for improved customer service. At the same time, only around 4% of customers complain when they feel the service is not up to par. Instead, they will move on to other companies for the product or service they are seeking. Given the importance of customer service, here are a few simple ways you can improve it.
Research has uncovered that work-life balance is the biggest challenge for nearly half of all entrepreneurs. Another survey notes that one-third of employees have difficulty managing their personal and professional lives. Given that a good work-life balance is challenging for both business owners and staff, we will explore some of the ways to move towards an equilibrium between work and personal life.
After six years in business, Mid Life Cycles outgrew its shop and needed a bigger and better premises. Providing a memorable and pleasurable experience for customers has always been a core focus for director Michael Catchpole. And once he found the right location, nestled in Cremorne, Melbourne, he was ready to get building, but it was a rough ride.
Director of Mid Life Cycles, Michael Catchpole, has followed two passions in his life: motorcycles and media. Around the same time he earned a journalism cadetship, he got his motorcycle license. As he built a career in media and communications, he also raced and maintained motorcycles and cars. And eight years ago, Michael decided to take his passion for motorcycles to another level. Discover the early win that kick started their growth spurt, and see why this retail business continues to grow.
With so many things to think about when running a business, it’s common to overlook the importance of having the right types and levels of small business insurance coverage. According to industry statistics, over 80 per cent of SMEs are underinsured in some areas and 17 per cent have no insurance at all. Business owners insure their homes, cars, health, lives, and even holidays, but often lack the coverage needed to keep the business running when an unfortunate event occurs.
As the saying goes, "Build a better mousetrap and the world will beat a path to your door.” But when it comes to attracting new customers, having a better mousetrap isn’t always enough. You need to be able to communicate the tangible results that your product or service brings to your customers. That's where a value proposition comes in.
A global survey conducted by Microsoft found that employees spend an average of 5.6 hours each week (12.4% of their time at work) in meetings. Around 70% of survey respondents felt meetings weren’t productive. In Australia, 82% of people surveyed said that meetings were a waste of time and money because they lacked structure and defined objectives. Nevertheless, meetings still have an important role to play in many workplaces.
If you are seeking any type of credit — whether a credit card, home loan, personal loan or business loan — your credit score will come into play. So you might be asking, ‘What is a credit score?’ It’s simply a number that is calculated based on the information in your credit file at a point in time. It helps credit providers determine how creditworthy you are and how able you will be to pay back any new debt they give you.
There was a time when boots had straps to pull them on and ‘pulling oneself up by your bootstraps’ meant getting ahead on your own with little or no assistance. Today, the term ‘bootstrapping’ means starting with very little capital and putting all revenues back into the company to help it grow. If you don’t have access to money or investors, bootstrapping might be the only viable way to get started. Here are some tips for bootstrapping a business.
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