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

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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.

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

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CPC Practice Exam

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