Your business needs to be up to scratch to sustain the competition in the market. As a result, it’s best practice for business owners and entrepreneurs to evaluate regularly the areas of improvement within their structure. Prices and presentation are key factors that are constantly compared to competitors and reviewed against the local audience. Similarly, in a constantly moving environment, you can’t afford to be left out when it comes to technological innovations; from creating an app to deploying highly focused CRM systems, most businesses keep track of the latest gadgets and tech in their field. Of course, new technology means acquiring new knowledge too. But despite their efforts to pursue their improvements, more companies forget three essential areas.
What You Improve
As a basic rule of the thumb, you improve what you can see and tangibly measure. In no particular order, most companies will invest time and money in developing better products, building experienced teams and acquiring the best of the new tech available in their industry sector. From an entrepreneur’s perspective, it’s easy to see what is missing. From establishing a simple product comparison with your competitors to listening to your customer criticism, the direction for improvement is evident.
However, while businesses are keen to listen to their customers, they fail to get involved in issues that relate to how customers feel about their interactions with the brands. As Stephen R. Covey once said: Most people don’t listen with the intent to understand, they listen with the intent to reply. Consequently, most improvements occur when the business can’t find an appropriate response to justify a situation, hence when the failure is visible.
1. Most Users Interact With Your Website First
You don’t hear your customers complain about a slow website. The reason for it is that when the site needs too long to load, you are losing potential customers – and therefore can’t hear their feedback. However, a review of load time and bounce rates on Google Analytics should reveal whether you need to implement a cheap VPS to support peak time traffic. Failure to support peak time visitors leads to a lost opportunity for growth.
2. Your Admin Processes
Security is a magical excuse in the business world. A painful process can be justified if it is done in the sake of security. However, there is no good reason to torture customers through unfriendly approaches. The rise of technological features and AI identification opportunities make most arbitrary security processes unnecessary. For instance, Amazon can’t justify their failure to recognise Gmail and Googlemail addresses as the same, as Googlemail has been around since 2004. Similarly, shouldn’t banks be looking at new identification processes instead of multiple passwords?
3. Your Target Audience
The market continues to address made-up audience groups that don’t exist anymore. The happy family of four is an old cliché. Nowadays, the LGBT community, single parents, integrated qualified immigrants and creative freelancers are among the most commonly forgotten audience groups. Maybe it’s time to embrace the 21st century market and look at your offering against people’s needs.
Has your business developed a friendly and open approach to 21st century customers? From remaining digitally accessible to embracing the diversity of modern society, there is still a lot to do to improve in the eye of the Millennial customer.