Refunds are no fun. You get that email, or a call, or worse yet, a public shout out on social media that reads, “I’d like a refund.” Those four words can send any small business or solopreneur into a tailspin of self-doubt. But it doesn’t have to be this way.
Here’s how to handle a refund request and use it to boost your business, make a better product and not let “I’d like a refund” get you down.
Take Action…Fast
Nurturing relationships with your customers is a crucial part of growing a successful business. In this age of automation and innovation, caring for your customers has never been more important.
At any moment, an unhappy customer can share their opinion with the masses through social media and the web and negatively affect your business. That’s why it’s even more important than ever to create an excellent experience for your customers to help develop your company’s relationship with them into love. Creating love between your company and your customers can help scale positive word of mouth that’s absolutely priceless.
So you want your website to make you look big. More power to you. But the business experts I talked to recently say small is cool with customers, too.
Small businesses, they say, have a personality, flavour and sensibility that big businesses can’t match. And when it comes to what you put on your website, they urge: Don’t be afraid to tout your smallness. Small businesses can have more fun with their sites. A small-business site needs to include something that reflects the creativity and personality of its owner.
As a general concept, research is the process of gathering information to learn about something that is not fully known. Nearly everyone engages in some form of research.
From the highly trained geologist investigating newly discovered earthquake faults, to the author of best selling spy novels gaining insight into new surveillance techniques, to the model train hobbyist spending hours hunting down the manufacturer of an old electric engine, each is driven by the quest for information.
Building a brand is about building a relationship with your customers. For this relationship to be long-lasting, it has to be based on something meaningful. That comes when a brand satisfies a real need, either better or in a different way to any other brand available.
Understanding customers is the key to giving them good service. To give good customer care you must deliver what you promise. But great customer care involves getting to know your customers so well that you can anticipate their needs and exceed their expectations.
To understand your customers well, you need to be attentive to them whenever you are in contact with them. The potential rewards are great: you can increase customer loyalty and bring in new business through positive word-of-mouth recommendation.
Operational margins are narrowing; leaving business owners constantly looking for ways to reduce business running costs and increase profits.
Here are simple things you should do to reduce your business expenses and increase revenue without affecting productivity or quality.
Review Standard Operating Procedures
If a business has been in operation for several years, it is possible that some standard operating procedures have become obsolete or less efficient. It is important to re-evaluate operational processes from the bottom to the top, and make changes like trimming unnecessary steps that were needed before but are not anymore, or making new changes to labour functions.
Know the competition. Find out who your competitors are, what they are offering and what their unique selling point (USP) is. This will identify the areas you need to compete in, as well as giving you a platform for differentiating yourself.
Know your customers. Customer expectations can change dramatically when economic conditions are unstable. Find out what matters to your customers now – is it lower price, more flexible service, the latest products? Revise your sales and marketing strategy accordingly.
Good customer service goes a long way in business; a happy customer is a customer who will recommend you to other shoppers, a returning customer,…. But so many companies just can’t get this right. They’re either putting their needs ahead of their customers’ or too wrapped up in finding new customers that existing ones become expendable.
I’ve had my fair share of experiences with bad customer service. Here are some horror stories… and what you can learn from them:
I’ve recently bought 30 books from a man who started the negotiation with “I do not negotiate.” True story. It wasn’t so much that he didn’t want to give a discount for buying multiple items, but what was most frustrating was his attitude in general. It didn’t matter how much I was spending, or how pleasant I was trying to be, he does “not negotiate” (or he just woke up on the wrong side of the bed) and nothing was going to change that.
Do you know if your customers are happy? If not, you should.
It’s imperative that you fulfil your customer pillars of delight. Otherwise, you might lose customers to your competitors. 48% of customers who had a negative experience told 10 or more people.
Unfortunately, more of your customers are likely to talk about your poor customer service or a bad experience compared to those individuals that love your company.
Your customers are your biggest assets. Don’t give them a reason to leave. Customer loyalty should be your ultimate goal, but it cannot be accomplished if they aren’t happy.
Raising prices is never an easy thing to do. Despite most people understanding that prices have to be increased on a lot of items, from fuel and food to insurance and utilities, it remains a delicate task.
Here are a few tips on how to do it in a way that puts your company in a better financial position and not a worse one caused by an exodus of irritated customers.
Identify where your prices need to go
Once you’ve established the exact percentage of your price rises, there are two trains of thought: phase them in with smaller increments over a period of time or institute one larger price increase in one fell swoop. There are pros and cons to both methods.
Culture is crucial when it comes to understanding the needs and behaviours of an individual. Throughout his existence, an individual will be influenced by his family, his friends, his cultural environment or society that will “teach” him values, preferences as well as common behaviours to their own culture.
For a brand, it is important to understand and take into account the cultural factors inherent to each market or to each situation in order to adapt its product and its marketing strategy. As these will play a role in the perception, habits, behaviour or expectations of consumers.
A recent study revealed that 26% of respondents would stop buying from a company if they were not happy with the delivery firm used. Losing business over a problem which is not caused by you is certainly the worst way for it to happen.
We found that most online shops use more than one delivery firm – but none of them offer customers a choice over which is used.
With a third of online shopping problems relating to delivery, this seems to be the weak link in the web retail boom. It means customers who have had a bad experience with a particular delivery firm are left pretty powerless if they want to avoid using them again.