eringilliam: growth*

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  1. The “lean startup” is a trend in the business world that’s growing rapidly. Lean startup methods encompass a way of doing business that focuses on gaining customer feedback in real-time, allowing businesses to make more informed and successful decisions.
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  2. It sounds like a contradiction in terms, doesn’t it? How can you optimise a journey with friction when for many it is considered the nemesis of growth and success? It is annihilated at every opportunity in the digital world for fear the customer might abandon a purchase or fail to sign up for a newsletter. This is not necessarily the case in physical locations like stores, restaurants and service centres. Sometimes a little friction can be a good thing.
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  3. In a corporate environment, it's easy to get too focused on performance measurement. While individuals within departments concentrate on achieving their personal and departmental key performance indicators (KPIs) by necessity, these, in isolation, must be aligned with other departments and their goals within the organisation.

    Occasionally, one department can succeed at the other's expense. Streamlining channels, optimising processes that link back- and front-offices, and monitoring of productivity ensure that competitive behaviour is harnessed in a productive manner, suggests Wynand Smit, CEO of INOVO: "Aligned company-wide goals require a strategy that unifies objectives and provides an environment that works for everyone, one that can be scaled to mirror company growth."
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  4. If you’re running a business that deals with customers, which is every business, customer feedback is critical. Feedback gives you an idea of how satisfied your customers are with your products and services. Additionally, with the right services you can also figure out how to improvements to your products and services by leveraging the feedback you are gathering from your consumers.

    So let’s take a look at seven (7) key methods you can use to get customer feedback and grow your business.
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  5. Satisfied customers lead to sustained growth. To improve sales, retention rates, and loyalty and in turn expanding your business, you should actively seek and respond to customer feedback. Understanding your customers and transforming what they have to say into actionable insights can prove to be a great competitive advantage.
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  6. Small businesses are losing ground to larger corporations – not in employment, but in revenues. When the Census was taken in 2001, businesses with fewer than 500 employees contributed more than half of GDP (50.5%). However, only nine years later, that contribution had reduced to 44.5%, giving large corporations a 55.6% share.

    What is causing this inequality, and is there something we can do about it?
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  7. What do you need, as an entrepreneur, to make you truly believe that your initially crazy idea of a startup has justified itself and is actually worth the efforts and resources you’ve put in it? Investments are the answer. It is one thing to have faith in your own business and a completely different matter to convince others that your idea is worthy of something.
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  8. Business owners need to learn how to handle their customers well. Customer feedback and reviews in any business can either break or make a business. Online platforms like Amazon where numerous reviews are made by customers that have used various products also use customer feedback and reviews.

    The feedback received benefits both the customers and the seller. It is very important for sellers to know what their customers are saying about their products which play a great role in the growth and expansion of a business.
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  9. Data is the secret ingredient to an online sellers’ sustained success.
    Every business has access to data—but it’s what you do with it that sets you aside from the rest. The data from customer experience, in particular, has come to the fore of every business in recent years. It acts as the foundation of customer success and loyalty because it can transform the service you offer.
    But the question is, which metrics will extract the most valuable data for your support team?
    Tags: , , , by eringilliam (2017-11-29)
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Mopinion: The Leading User Feedback Tool

Mopinion is a proud sponsor of User Feedback News. The voice of the online customer is taking on an increasingly important role when it comes to improving websites and apps. So web analysts and digital marketeers are making more and more use of User Feedback Tools in order to collect feedback from the user. Mopinion takes it one step further and offers a solution to analyse and visualise user feedback results from your websites and apps wherever you need them. The real challenge for companies is not about capturing feedback, it is about how to make sense of the data.