Connect with us

Business

How to Equip Your Business to Deal With a Modern Customer Base

Published

 on

Customers have changed quite a bit over the last decade or so. These days, the average person has quite a bit of choice over who they can purchase goods and services from. This makes them a lot more selective about who they are loyal to.

This means that you need to properly equip your business if you wish to engage and keep the modern customer. The following guidelines will show you just what it is that your organisation will need:

Upgrade with the Latest Software

These days, consumers want to be able to interact with your business as quickly and as efficiently as possible. More interestingly, they aren’t nearly as interested as dealing with human representatives of the company as much. Therefore, if you run a gym, you will find that your clients will prefer to make appointments via software for CrossFit rather than calling up a person.

So, wherever possible, integrate technology and software. While this may increase operational costs, in the beginning, it will certainly end up paying off later on. This is especially true since you will not have to rely on quite so many employees to handle various tasks.

Create an End-to-End System

Another thing that the modern consumer is passionate about is a smooth, end-to-end system. This means that they want every aspect of their interaction with a particular company to fall into place easily and with minimal hassle.

For example, let’s assume that you run a spa or wellness centre. This means that your clients expect to be able to easily make appointments, receive notifications, and get other details about their service. Thus, to make all of this possible, you really should consider investing in the best software for spa management possible.

Train Your Staff

Even if you hire the people with the most affable personalities, it still doesn’t guarantee that they will know how to appropriately deal with your customer base. This is why training is quite so important. After all, your company has a specific culture and follows certain core values.

Therefore, it is imperative that your staff are trained to handle customer requests and complaints while keeping these in mind. It is the only real way to ensure that your employees can tend to consumers who expect a certain level of care and service.

Create a Specific Department

Once, customers would call up a business to complain about a product or a service. These days, however, social media is the platform that every individual uses to air their grievances. Of course, the issue with social media is that a bad review can travel far and wide if you are not careful.

To prevent negativity from spreading too much, there should be a department in place to specifically deal with social media complaints. By offering prompt and sincere replies to comments, you will be able to control the narrative regarding your organization. Thus, such a department is an invaluable part of any business or company.

These are the top ways that you can equip your business to deal with modern consumers. In doing so, you will be able to provide much better customer service.

Continue Reading

Business

RBC warns house price correction could be deepest in decades | CTV News – CTV News Toronto

Published

 on


A housing correction, which has already led to four consecutive months of price declines in the previously overheated Greater Toronto Area market, could end up becoming “one of the deepest of the past half a century,” a new report from RBC warns.

New data released by the Toronto Regional Real Estate Board (TRREB) last week revealed that the average benchmark price for a home in the GTA fell six per cent month-over-month in July to $1,074,754.

Sales were also down a staggering 47 per cent from July, 2021.

In a report published on Aug. 4, RBC Senior Economist Robert Hogue said recent data from real estate boards underlines that higher interest rates are beginning to take a “huge toll” on the market.

Hogue said that with further hikes to come, prices will likely continue to slide in the coming months.

That prediction, it should be noted, goes against a report from Royal LePage last month which painted a rosier forecast for sellers in which values would more or less holding for the rest of the year following some declines in the second quarter.

“Our expectations for further hikes by the Bank of Canada—another 75 basis points to go in the overnight rate by the fall— will keep chilling the market in the months ahead,” Hogue said. “We expect the downturn to intensify and spread further as buyers take a wait-and-see approach while ascertaining the impact of higher lending rates. Canada’s least affordable markets Vancouver and Toronto, and their surrounding regions, are most at risk in light of their excessively stretched affordability and outsized price gains during the pandemic.”

The Bank of Canada has hiked the overnight lending rate by 225 basis points since March and has warned that further hikes will be necessary given that inflation remains at a near 40-year high.

In his report, Hogue pointed out that the housing correction “now runs far and wide across Canada” but he said that it is particularly pronounced in the costlier markets of Toronto and Vancouver.

In fact, Hogue said that housing resale activity in Toronto is at its slowest pace in 13 years, outside of the early days of the COVID-19 pandemic.

The stockpile of available homes is also up 58 per cent from a year ago, he noted.

“With more options to choose from and higher interest rates shrinking their purchasing budgets, buyers are able to extract meaningful price concessions from sellers,” he said, pointing out that the average price of a home in the GTA is down 13 per cent from March. “We expect buyers to remain on the defensive in the months ahead as they deal with rising interest rates and poor affordability.”

While Hogue did say that condos in the City of Toronto are likely to remain “relatively more resilient” he said that prices elsewhere will continue to fall for the time being, especially in the 905 belt “where property values soared during the pandemic.”

The July data from TRREB suggested that the average price of a home in the GTA was still up one per cent from July, 2021.

Adblock test (Why?)



Source link

Continue Reading

Business

Commuters face GO transit cancellations, possible strike – CityNews

Published

 on


Adblock test (Why?)



Source link

Continue Reading

Business

Canada Revenue Agency plans email blitz to get Canadians to cash outstanding cheques worth $1.4-billion – The Globe and Mail

Published

 on


The Canada Revenue Agency (CRA) is planning a massive e-mail notification campaign to reach Canadians across the country who have uncashed cheques worth a net $1.4-billion.

The e-mail notifications will target recipients of the Canada child benefit and related provincial and territorial programs, as well as recipients of the GST/HST credits and the Alberta Energy Tax Refund.

The CRA said it plans to send approximately 25,000 e-mails in August, another 25,000 in November and a further 25,000 e-mails by May, 2023.

However, even without receiving an e-mail notification, the agency said a taxpayer can check if they have a cheque by logging into My Account, a secure portal on its website to check if they have an uncashed cheque over a period of six months. It added that representatives can also view uncashed cheques of their clients.

Each year, the CRA said it issues millions of payments to Canadian taxpayers in the form of refund benefits. These payments are issued by either direct deposit or by cheque.

“Over time, payments can remain uncashed for various reasons, such as the taxpayer misplacing the cheque or even a change of address which did not allow for delivery,” the agency said in a statement.

The CRA said since the e-mail notification initiative was first launched in February, 2020, about two million uncashed cheques valued at $802-million were redeemed by May 31, 2022.

The average amount per uncashed cheque is $158 with some of them dating as far back as 1998, the agency said.

As of May, 2022, there were an estimated 8.9 million uncashed cheques with the CRA. In May, 2019, about five million Canadians had an estimated 7.6 million uncashed cheques.

“As government cheques never expire or stale date, the CRA cannot void the original cheque and re-issue a new one unless requested by the taxpayer,” the statement read. “These upcoming e-notifications are to encourage taxpayers to cash any cheques they have in their possession.”

The agency said taxpayers can register for the direct deposit option on its website to receive payments directly into their bank accounts.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Adblock test (Why?)



Source link

Continue Reading

Trending