Everything you need to diagnose problems, plan routes, and have a more prosperous year
Planning should be a rule not only at the end of the year but at all times of the year. But we know that planning is not a reality in the lives of many entrepreneurs and freelancers. Most don’t have time for it or don’t even think about it, living on autopilot.
In an increasingly unpredictable world, I’d argue that this is the biggest factor in many companies failing. And it is precisely from this place that I would like to take you, providing you with ideas and tools to plan your 2023 with people-centred reflections🇧🇷 After all, they are the ones who generate the results of your business.
If you want to grow you have to look at your customer with different eyes🇧🇷 No company segment or dimension is exempt from this mission: frequently analyze and plan actions, focused on people.
And to help you build a coherent plan, I also invited a very experienced data scientist, Paulo Repa, who came with me to 7 of the best reviews which will make you stop losing money and multiply your business from 2023 onwards.
All planning requires prior study. Then, reflect on each of these elements and only then define your priority actions for the year.
1 – Would your customer recommend your company’s product/service?
Investigate this by asking or analyzing whether this happens spontaneously on social media. If you have some credible data, great. If not, at least try to put yourself in the customer’s shoes: would you recommend your products/services? If the answer is yes, you have already earned a star, because it means that the customer is likely to be satisfied. But if he doesn’t recommend it, you need to enhance this experience to delight him. After all, no one goes on social media to indicate an ok brand. They only do it when the brand exceeds their expectations. The higher the recommendation, the lower the acquisition cost. That is, the economy from attraction to retention. *Tip: You can check this data with a simple NPS (Net Promoter Score) question, after purchases: “On a scale of 0 to 10, how much would you recommend the company to a friend?”.
2 – Do you monitor social media for sentiment, customer needs or even industry trends?
One of the most relevant sources of the perceived value of a brand or a market segment are spontaneous expressions on social networks. Comments, shares, type of content they consume and like, etc. All of these are clues to what people feel, need, want, or value about your business or segment. You can monitor what people are saying specifically about your brand, assessing its reputation and relevance on the market, comparing it with competitors. This can be done by social listening tools, which automatically track all this in order to have qualitative and quantitative results. But, if it is a very high cost for your operation, you can manually monitor it periodically, analyzing comments and messages on what you post on social networks, observing comments on YouTube videos, joining WhatsApp groups, analyzing profiles of other brands and monitoring the influencers in your field of action. It is very rich research to self-evaluate and understand your current or potential customer.
3 – How many people change in your customer service teams (turnover)?
This point can give you a basic insight that the customer may not know who to communicate with in the company and this can generate insecurity or noise in the relationship, causing your business to lose sales. The customer may believe that your business is difficult to relate to, so they will look for a more cost-effective option. Sometimes, the customer may even get used to a salesperson, and when he leaves the company, the customer goes with him. Or it could be that the customer feels that, by changing service, the relationship with the company will be restarted from scratch, generating impatience, also because there could be loss of history, generating lack of after-sales coherence and quality.
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4 – Are the products or services you sell delivered without errors?
Perfect order rate is an important index, which measures the percentage of orders that are shipped without delays, errors or damage to goods or services. The question is simple: Of all the orders placed or services provided, how many were error-free? How much did mistakes cost? Often an order arrives with the wrong invoice, wrong products, with defects or goes to wrong addresses, generating high costs, as well as noise in the customer relationship and complaints that impact reputation. Analyze these ongoing errors to mitigate risk.
5 – Why do customers ask for the return of products (cash back) and how often?
It is natural that people’s expectations are not always met, due to many possibilities, from a poorly constructed promise that has generated a distorted view of reality, to low quality delivery. The question is: why doesn’t the customer want what he bought anymore? If you don’t have this answer, you’re losing more money than you can imagine, as it generates reverse logistics, time, and reputation costs. Identify what is most recurring, so that there is immediate action for adjustments in the sales process or product/service quality. Stop losing money.
6 – How is the customer behavior on your website/app?
User activity tracking is the process of monitoring, collecting and analyzing your browsing on a website or application. You can use tools like Google Analytics for this, but having the data isn’t enough if you don’t know how to interpret it. For example: if you have an e-commerce, you may notice that customers usually leave the site at a specific point during navigation, but you need to analyze why. It could be a bug or an insecurity that led to a withdrawal from the purchase. If you don’t have other complementary tools, spend a few neurons thinking about hypotheses and testing fixes and optimizations. A lot of money could go down the drain simply because of the lack of that look.
7 – How many customers does your company lose or how many are inactive (churn rate)?
If you don’t know how many customers tend to stop shopping with you, you’re committing the greatest of sins. And if you analyze customer churn without considering the nature of your business, you could be making a big mistake too. For example: if the frequency of consumption of your products and services is annual, the fact that the customer does not buy for a year cannot be considered churn. This analysis can give you a skewed view of the health of your business. If you tend to lose more customers than you gain new ones, your business is in crisis and it’s time to wake up. If you lose as many customers as you attract new ones, you could get stuck. If you keep active customers but don’t attract new ones, you might as well be stagnant unless you encourage more purchases from your current base to increase revenue. Now, if you keep and activate customers and acquire new ones as well, you are continuously growing (best case). Another question about it: what is the reason why customers are inactive? If you don’t know, you need to find out. Losing customers is bad not only because of falling revenue, but because they are unhappy, complaining on the Internet or in your environment. This can ruin your reputation and make you lose more customers.
- “Understanding how to assess customer expectations throughout their journey enables organizations to become more customer-centric, improving products and services to increase retention and retention. This universe of information permeates all departments of the company and is intrinsically linked to the data and how it is collected and analyzed”.
- Paulo Repa – Data Scientist at Gauge.
Many other reflections are important, but if you start from here you will already be ahead, evolving professionally and commercially in 2023.
For more insights, follow me on Instagram @perla_amabile
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
