Connect with us

SOCIAL

3 Business Basics to Remember in 2024

Published

on

3 Business Basics to Remember in 2024

Opinions expressed by Entrepreneur contributors are their own.

The digital world is obsessed with trends. Trending videos, sounds, images, backgrounds — you name it. Trends change overnight and without notice; act quickly or you’ll be left in the dust by the algorithm.

As much as capitalizing on a successful trend can lift your business, many small and medium-sized businesses (SMBs) would benefit from shifting their attention from Hail Marys to the basics of business building. These are principles that no matter the social media platform, algorithm or brand, don’t go out of style. They were here yesterday, and they’ll be even more valuable tomorrow.

Let’s dive into a few of the basics that will benefit every SMB in 2024.

Related: The 5 Fundamentals for Growing Your Startup

1. Responsiveness

We all have that friend who leaves us on “read” for days at a time. We may act like it doesn’t hurt our feelings or impact our relationship, but it does.

Advertisement

It’s no different in business. Responsiveness to your customers shows respect and prioritization to them. By responding quickly to their needs, you let them know that they will be taken care of and that their problem is your problem. This will naturally benefit retention.

“One of our company core values is “radically serve others” and all of our customer-facing teams truly take this to heart. This is more than evident when we review our weekly metrics and see our average customer response time low and customer satisfaction rating high every week,” shares Jerry Tsai, President of Acceptd.

Make this a company value by putting metrics around response time. This can include how quickly your team responds to emails, customer service requests or phone calls.

2. Be a person

Hard to believe this qualifies as advice in 2024, but with everything digital, automated and AI-powered, you’ll find customers are, more often than not, sick of talking to a robot — or even worse, a customer service rep with the personality of one.

Last year while working in operations for a startup, I handled customer service requests for about a month. My responses were quick and not overly formal, clearly written by a human being. You’d have thought I was curing the world from all its pains based on the feedback I received from people.

I also found it interesting that people were far more respectful and reasonable, given that it didn’t feel like they were talking to a customer service representative as much as they were a person who was here to help them.

Advertisement

Teach your team that, as much as professionalism matters, so does coming across as a real person who wants to help people. Measure the success of your customer service interactions with a survey to understand how one method of engagement might be better than another.

Of course, this recommendation does come with caveats. Being personable doesn’t cover unprofessional, inappropriate or unhelpful support.

Related: 5 Ways to Show Your Customers You Understand Them in a Digital-First World

3. Follow up

We’re always looking for the next best thing. And with that comes forgetting about leads or prospects that fell through the cracks. If you’re not systematically following up with prospects, you’re losing business.

“People are doing more research than ever and earlier than ever, meaning they might not be ready to move forward when they initially reach out. We found that ⅓ of our leads weren’t converting for 2+ months after their first inquiry. That shows the power of following up even months after their first contact,” says Oakwood Management CEO Keith Jones.

If your business is digital-first, extend your automated email sequence another month or two. If your business is lead-generation, this means setting up reminders to call and email prospects until you know they’re not in the market for your service anymore.

Advertisement

“Prospects often have many different priorities, and knowing that you care enough to check in with them regularly goes a long way in establishing trust,” adds Sriharsha Guduguntla, Hyperbound CEO.

Trust is developed over time — one reason why following up weeks or months down the road can be such a high-value investment. It shows prospects you are diligent and process-oriented. Bonus points if you can personalize your outreach as much as possible so they know you care and remember their specific circumstance.

Related: 4 Insane Truths About Failing to Follow-up

These tips won’t take your business to the moon or help you go viral. They aren’t talked about on social media by influencers or business gurus. They have been lost in a sea of distractions and trends that pop up one day and disappear the next. That’s the biggest benefit of following these tips. They are so rare that you instantly distinguish yourself from your competitors by getting the basics right.

Do the basics at a high level for long enough, and you’ll see the results compound through higher retention, better conversion rates, more word of mouth and a stronger business foundation.

From there, you’ll find you may not even need to chase the latest trends to be successful. Simply focusing on serving your customers is unique enough to achieve success.

Advertisement

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

SOCIAL

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

on

By

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

Advertisement

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

SOCIAL

Catering to specific audience boosts your business, says accountant turned coach

Published

on

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

Advertisement



“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

SOCIAL

Instagram Tests Live-Stream Games to Enhance Engagement

Published

on

Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

Advertisement



Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending

Follow by Email
RSS