eBusiness Weekly
Clemence Mutembo
Accounting is one of the subjects that fascinate me; I love the greatness and rationale behind this marvelous subject. Everything comes down to figures and numbers in business!
A financial profile is a comprehensive report that contains information about a company’s financial health and performance.
It typically includes things like revenue, profits, expenses, assets, liabilities, cash flow and other financial metrics.
This information can be used to assess a company’s financial position and make decisions about things like investments, loans and other financial matters.
A company’s financial profile can also be used to compare it to other companies in the same industry or to its own historical performance.
Overall, it’s a valuable tool for understanding and managing a company’s finances.
There is a strong correlation between customer experience and financial profile. Research has shown that companies that provide excellent customer experience tend to have higher revenues, profits and market share.
This is because happy customers are more likely to remain loyal, recommend the company to others and spend more money.
On the other hand, customers who have a negative experience are more likely to switch to a competitor.
Even worse, they may actively discourage others from doing business with the company.
As a result, companies that prioritise customer experience tend to have better financial performance overall.
You know, I get quite many referrals all the time. There are a number of ways that a business can generate referrals. One way is to focus on providing excellent customer experience.
Customers are more likely to recommend the business to others if they are happy with the experience they get from it.
Another way is to create a referral programme where customers are rewarded for referring new customers. Social media can also be a powerful tool for generating referrals.
It can happen by sharing information about the business and its products or services with a wide audience.
Referrals can also be generated through networking and building relationships with other businesses and individuals.
It’s also important to note that sales come from a variety of sources. Most commonly they are generated through marketing efforts and networking.
Marketing and advertising are designed to raise awareness about a company’s products or services and thus generate interest from potential customers.
Networking involves connecting with others and building relationships with other businesses and individuals in order to generate referrals and leads.
In addition, sales can come from a variety of other sources such as direct sales, trade shows, and word-of-mouth referrals. Ultimately, the success of a sales effort depends on the company’s ability to reach potential customers and convince them to make a purchase.
Whenever I am invited by companies to train staff and management, I become so energised. I love trainings so much that it’s hard for someone to remove me from them. Maybe it’s also attributable to the fact that I deeply Iove the subject I teach, customer experience.
There are a few reasons why it is important to serve customers with passion. First, when you are passionate about your work, it is more likely that you will enjoy it and do it well. This will make your customers feel good about the service they are receiving.
Second, passionate service providers are more likely to be engaged in their work, which can be contagious and make customers feel excited about the products or services they are purchasing.
Finally, when you serve customers with passion, it shows that you care about them and their satisfaction, which can build loyalty and trust.
Passion is very important when serving customers. Don’t be a dull unexciting service provider, show life when serving your customers!
You see, service performance dimensions are the key areas or elements of service delivery that contribute to overall service quality.
There are a variety of different frameworks for service performance but some of the most common ones include:
Responsiveness
The speed and efficiency with which a service provider responds to customer needs and requests.
Reliability
The ability of the service provider to deliver the promised service consistently and dependably.
Assurance
The level of knowledge, confidence and trust that the service provider instills in the customer.
Empathy
The level of understanding and concern the service provider shows for the customer’s needs and feelings.
Personalisation
The ability of the service provider to deliver value in a manner that suits the customer’s unique tastes and preferences.
Service dimensions contribute to organisational competitiveness by helping to create a positive customer experience.
When customers have a positive experience with a company’s service, they are more likely to be loyal and satisfied customers.
This in turn can lead to increased revenue, higher profits and a competitive advantage for the company.
Additionally, companies that are able to consistently deliver excellent service are more likely to have a positive reputation and be seen as leaders in their industry. All of these factors can contribute to improved organisational competitiveness.
Why does a person go to school, buy a house, attend a meeting, visit the doctor or any other activity? It’s about feelings, everything is about feelings and experiences!
One thing I seem to notice is that every human being lives for good feels. I want you to check it; everything that anyone does is connected to feeling good!
If you trace everything, you see that it has something about feeling good at the end. The same is with customers, they want to feel good about their engagement with any business.
Customer service can definitely have psychological value to customers. Positive interactions with a customer service representative can make customers feel good about themselves and their decisions.
That can increase their confidence and satisfaction. In addition, customers who feel heard and understood by customer service representatives are more likely to feel emotionally connected to the company, which can lead to increased loyalty.
When customers feel that their problems are being addressed in a compassionate and understanding way, it can reduce their stress and anxiety.
So, it’s clear that customer service can have a powerful psychological impact on customers.
Going the extra mile in customer service is all about doing more than is expected or required of you.
This could mean anything from helping a customer with a problem that’s not directly related to your product or service, to going out of your way to make the customer’s experience a positive one.
It’s all about going above and beyond to make the customer happy.
Here are some more examples of going the extra mile in business:
A hotel sending a welcome package to a guest before their arrival.
A store owner staying open late to accommodate a customer who couldn’t make it during regular business hours.
A business owner helping a customer with a problem that’s not related to their product or service like offering to help them fix a broken bike or giving them directions to a local attraction.
You see, the goal of customer experience is to create a positive, memorable experience for the customer.
This is done by understanding and anticipating the customer’s needs and then exceeding their expectations.
The goal is to create an experience that is so good that the customer will want to come back and do business with the company again. In addition, a positive customer experience can also lead to increased loyalty, word-of-mouth marketing and other benefits.
Ultimately, the goal of customer experience is to improve the company’s bottom line and also create long-term success for the company.
Customer experience can be defined as the sum of all interactions that a customer has with a company.
This includes everything from the first contact to the sale to after-sales support.
It’s not just about the product or service itself, but also about how the customer feels during and after the purchase process.
Good customer experience should leave the customer feeling satisfied, respected and valued. It should also create a lasting impression that encourages them to come back and do business with the company again.
Ultimately, the goal of customer experience is to build a strong, long-term relationship with the customer.
Clemence Mutembo is a high-impact Customer Experience and Sales Coach: Connect him on: 0778 994 994
