Alexey

  • I can’t believe I never joined this group earlier! After all, when it comes to businesses my favorite part to manage and talk about is how we make customers comfortable and happy when they shop with us 🙂 That’s what keeps them coming back after all!

  • I believe we are entering a business environment where the business itself is more heavily reliant upon its personal branding than the offering itself. A common case-in-point is that businesses are currently being scrutinized the instant that a customer sees their presence, whether it is physical or digital. The first impression, after all, is…[Read more]

    • Let’s not discount how well a business operates though! Can’t judge a book by it’s cover after all 😉 Yep, we see people making more decisions from the get go than before, but still lots of people who try to test the services before making a choice you know 😀

  • Aaron posted an update in the group Group logo of Experiential Innovation Experiential Innovation 4 years ago

    This needs to be said – nowadays businesses are not innovating. They are taking old ideas and trying to see if the current market will accept them again. We are taking these new trends and hoping that they stick for more then a few months. That is not innovation. We are truly out of innovators in today’s society and that is leading to a slowing of…[Read more]

    • Now now, there’s no need to say that businesses are not innovating. I think what we should be saying is that they’re trying to perfect old methods 🙂 I think that’s still something, don’t you agree? They’re taking the best of the old and making it new. Now that’s something worth doing!

  • Dean posted an update in the group Group logo of Relationship Centricity Relationship Centricity 4 years, 1 month ago

    A long time ago I had a run-in with an old employer of mine. It’s a small bank in a suburban town in Wisconsin. They aren’t very big, and when I left the town they didn’t seem like they were doing too great. This was all before the recession, so I thought they were wiped out when the markets crashed. I went back home over the weekend and saw the…[Read more]

    • James replied 4 years ago

      I’d say they probably had some pretty dedicated customers who were loyal to them. Small places like that can save a ton by cutting stuff and not having to pay for big expenses like insurance or anything like that. So small businesses have the advantage when it comes to cutting costs and only using the bare minimum on a daily basis.

    • Well, that’s quite a surprise to hear a small business stuck around through the recession. They must be doing well now if they survived! But that’s how it works, the strong will make it through and they’ll be there to get all the customers that are left behind when everyone else closes 😉

  • I currently am working for MGM as an internal auditor and I noticed how important it is to build a culture centered around the customer. Even in a position that is not customer facing, we are trained in proper customer service and understanding customer needs. This is something that I am seeing more and more in businesses, even those that have…[Read more]

    • Aaron replied 4 years ago

      Well it’s pretty common sense that you need to be able to deal with customers. Customers are the most important part of the business, and you need to make sure they’re happy for the business to do well. Common sense.

    • James replied 4 years ago

      I’d say that it’s less about the culture and more about the type of people working there. You can try to train people to be more customer centric, but that’ll only go so far. Not like you can teach a dog how to purr like a cat, and the same is true for people. You are better off hiring people who think that way, then training them to treat…[Read more]

    • Well, sounds like you’re getting a good taste of what the behind the scenes business world is like! It’s not your run of the mill process 🙂 And customers are at the center of it all. All my friends have gone through customer training, and customer service is really important!

  • I have recently had several conversations with my peers discussing an item that is a fledgling trend in food: deconstruction. The concept is simple – meals are divided into their primary components and allowed to share space on the plate – but has a profound impact upon the senses and the patron. Individually each item can be enjoyed and savored…[Read more]

    • That makes no sense at all. The point of packages are to encourage customers to spend more money and drive revenue. Separating them makes it easier for customers to avoid additional costs and fees. What would happen if instead of getting a suite of services for X amount, they are getting a single product for half the cost? They would obviously be…[Read more]

      • While I agree that package programs will typically have a higher price tag and bring in steady revenue, it also has the potential to alienate those who only want one or two parts of the package. You have to consider that those on the fence will be much more willing to adopt new services if they are able to select only what they actually want to…[Read more]

        • Aaron replied 4 years ago

          The risk there doesn’t make it better. You can get some people who want to pick their services, but lose the increased sales from bigger packages. What business would risk their secure sales for the chance, just the chance, at more customers? It bankrupts companies and that’s why they fail to grow. Ideas like this just make things worse

          • As I replied to Ray Andrew’s comment, this is a system that works best for those with smaller markets and loyal followers. The present users will see this as a boon that can save money, but more importantly new consumers will have the opportunity to adopt the program and become new sources of revenue, albeit at much smaller profit margins.

    • To add to the conversation, I have seen this type of business model adopted by places such as restaurants and service providers (think of cable services). In both cases, I have found that it is a very hit-or-miss type of approach for the businesses involved. For the restaurants, you can clearly see that they are making much more money by being…[Read more]

      • I believe that the companies that will adopt this model will be aiming to undercut the stronger competition. Most businesses using this model seem to be niche markets who are fighting for each individual customer or sale, so it makes sense that their revenue is not as dependent upon the greater sum of available consumers purchasing their goods.…[Read more]

    • But how is that any different than regular food? I’m not understanding it too well. You just took food and gave them the chance to order separate items and options. For businesses, I don’t see how you can make more money by letting them purchase stuff in smaller batches.

      • Essentially, you are allowing the customer to experience each of the pieces individually rather than together. While it is the same parts, the end result is that you are able to thoroughly enjoy each component and identify which are unnecessary or off-putting. For businesses, I would say that this is the opportunity to allow customers to choose…[Read more]

  • I think it’s important to note just how big social media is with businesses nowadays. You can complain to a business and call them on their regular hotline, and maybe you will receive an answer or connect with an agent. Or you can call them out on social media like Twitter, start up a firestorm, and have them contacting you within minutes. The…[Read more]

    • That is just part of the natural progression of technology and business. Social media is becoming a major part of a business’s operations, and that is now how businesses need to start addressing their customers. It is the natural flow of how things work in society – as a new channel becomes popular, businesses need to respond or risk being left…[Read more]

      • That’s the new trend, and I get that it’s a big up and coming thing, but I just don’t think it’s going to catch on. It’s a place where people make stories and talk about what they hate, so social media is not stable enough to be a good contact point. Once we get a system that’s easy to work with in terms of submitting concerns, then they’ll funnel…[Read more]

    • Social media is proving itself to be quite the formidable foe in regards to stalwarts traditional marketing. I myself have witnessed social media have a profound impact upon businesses and their reputation around the world. One such example is Turing Pharmaceuticals and the backlash they faced following the increase of drug prices. While, yes,…[Read more]

    • How can you effectively use social media as a professional business? I don’t see how it can work since you can’t control what everyone else is saying about your business. Everyone on the internet can have an opinion of your business and make their words known to millions in an instant. How do you build your reputation on the web when a few bad…[Read more]

    • Aaron replied 4 years ago

      How effective is this? Social media is big and all, but it really is just something that is up and coming. Nothing has been established yet, so no need to build it up as if it is the end all be all of the business world. Companies are still going to rely on call centers and online submission forms. It is the tested way of doing things, and it is…[Read more]

  • Ever realize how theme parks make such great environments? You spend money just to be there like it’s an exclusive club. I think banks can do the same and make it feel like you really are a part of something special, like by net worth or income maybe. You can make the bank nicer with artwork and furniture to make it seem upscale. Maybe that can…[Read more]

    • I believe that this works because theme parks play on the concept of selling an experience and activities that go along with it. On the other hand, banks and financial institutions sell products and services directly associated with their trade – money. These are things that are maintained over long periods of time, and thus cannot necessarily be…[Read more]

      • Obviously I replied to the wrong post, but anyways, I don’t really think that it’s worth the investment. It’s a big charge just to make things a little nicer and maybe bring in new people. Personally, I wouldn’t see it as worth the expense or risk of implementation.

        • There are always situations where it may be more expensive to actually implement a new concept. However, if you can weigh out the costs and benefits then you can evaluate whether or not it is worth the risk. In this case, I agree that there is quite a bit on the line in terms of money that probably would not be worth it in most cases. I still…[Read more]

    • While I do agree that this is a novel way to attract customers, I must concur with James and point out that this is a strategy that has a great deal of upfront investment that may not generate a sufficient return. Physical presence for a business, while an important representation of the culture and face of the company, is an aspect of traditional…[Read more]

      • So are you saying that it wouldn’t ever work for businesses to grow by making their stores more attractive? I was thinking it would be the same as a regular remodel.

        • There is potential that this will have a positive impact upon the business, but that impact is marginal compared to other methods that can be used. For the banking industry, it may be more worthwhile to invest in talent, personnel, and services. However, a traditional remodel can be effective, it just may have limited success.

    • Great idea, and while we’re at it we might as well hand them free products and services as well. Really, who would spend all that money to build up a nice bank when your customers don’t even come in the doors? The issue isn’t making the place nicer so that people come in – it’s about giving them a reason for them to be there in the first place. If…[Read more]

      • Same as what I said above, I don’t get how it wouldn’t work. People would go see places that are new or interesting because it will catch their eye. I was thinking it would be the same sort of deal and people would come to the bank looking to see what’s new, then being sold on new products.

    • Not undermining you or anything, but I don’t think it can work that way. You go to a theme park because you want to be in that setting. A bank? You go there to do your business and then be done with it. You can make an atmosphere, but it’s like making a bathroom fancy. Yeah, it’s nice at first, but I think the appeal wears off over time. It’ll…[Read more]

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