Usually a handful of customers contribute to a large portion of your total business revenue. What would be the impact of losing one of more of such customers? Do you have a customer retention strategy?
Category: Business Strategy
Look Beyond the MEAN
The extremes on both sides of the curve strongly influence customer behaviour. Hence, It is important to look beyond the MEAN to address the variation in a process. Understanding the variation along with the average performance and addressing the root causes for variation will help you better conform to customer expectations.
Business Strategy: Determine the transfer function
Most business meetings, reviews, dashboards focus on the key performance indicators (KPIs) as a measure of success. These KPIs are the output or outcome of a business process or a combination of processes. In a transfer function, an outputs is denoted as “Y”. However, it is difficult to have a direct control on “Y” or process output without identifying, monitoring and controlling the various inputs to the process – the many “X”s.
Increasing Sales for Your Small Business
No matter how good the product, you need a dedicated sales team and strategy. Check these tips for increasing sales for your small business.
Chatbots are here to stay!
A recent report by Jupiter Research forecasts that chatbots (Chat Robots) will be responsible for cost savings of over $8 billon per annum by 2022 for the Banking and Healthcare sectors, up from $20 million last year. Chatbots are gaining popularity and many predict 2017 to be the year of chatbots. The growing trend and…
Unlock the power of Referrals!
In the quest to acquire new business and clients, small & mid-sized BPO / IT companies look to explore all possible options: social networking, direct mails, cold calling, conferences and outsourcing consultants. However, most of them fail to utilize the existing client network and never check for recommendations and referrals. Net Promoter Score (NPS) is…
Is your business strategy aligned to your Customer needs?
Customer needs are often hazy. Hence it is important to analyze customer feedback and align it with the overall business strategy. Kano Model is a powerful technique to evaluate customer feedback and requirements.