Blogs

How to launch a product successfully

According to reports, 250,000 new products are introduced to the world each year. We’re overwhelmed by so many new product entries, which range from sophisticated new technologies like the Nest thermostat and infomercial sensations like Pyjamas Jeans. To complicate things, brands are introducing new line extensions like Kraft Sizzling Salads, Disney Appmates, and a wealth of «new and improved» products from venerable brands like Gillette and Kleenex.

But the fact remains that the success rates of new product introductions and innovations have improved little over the last 20 years. Reports show that 66% of new products fail within two years, and a startling 96% of all innovations fail to return their cost of capital. This is due to a number of factors, including economic conditions, an explosion of consumer touch points, shifts in decision-making behaviour, and the deluge of information marketers have to sift through to ensure they are up to speed with the latest trends.

Solutions for bad customer service experiences

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.

How to choose the perfect Christmas gifts for your clients

The holiday season is fast approaching! In the business world the holiday arrival often comes with an increased workload, more demands, and tighter deadlines. Even with all the tasks and stress taking up attention, it’s always worth taking a moment to show gratitude to those who support your business. Staying top of mind with your clients (in a positive way) is important.

One of the best ways to show your clientele that you appreciate them is by taking advantage of the Christmas season and sending gifts for clients as a heartfelt thank-you!

Why and how you should keep your customers happy

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.

International Development

International Development The decision to embark on an international expansion can be both exciting and frightening: seemingly endless growth opportunities exist, but there can be significant risks involved.

The checklist for setting up international operations is lengthy and varies country to country. And what’s worse, one missed detail could mean serious negative consequences for your business, in the form of fines and frustrated employees.

Not sure where to start? Here are 10 tips to keep in mind when thinking about international expansion:

How to raise prices without losing customers

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.

Business Partnership can at times feel like a Marriage

Joining up with partners can result in offspring where the whole is greater than the sum of its parts. In today’s era of globalisation, the ability to form successful partnerships plays a vital role in your company’s success. It’s not enough to get engaged, you want to get married and you want that marriage to last a long, long time.

Here are a few important steps in forming a long lasting and fruitful relationship with the right partner company:

Recognising Opportunities

Whether we are going through a good phase in our lives or whether we are in the doldrums, it is always a good idea to be on the lookout for a better opportunity. We tend to get so engrossed in our daily lives that we often end up ignoring opportunities that pass in front of our very eyes.

Here is how you can realise if there is an opportunity to be grabbed and how to work on it:

Why investing abroad can be a good idea

Investment The trend toward investing abroad has been gaining popularity since the 1990s. Companies choose to invest in foreign markets for a number of reasons:

Market seeking

Firms may go overseas to find new buyers for their goods and services. The top executives or owners of a company may realise that their product is unique or superior to the competition in foreign markets and seek to take advantage of this opportunity.