Think over the idea
To create a successful business based on your true values, answer these questions:
What is important to me and what do I enjoy doing?
What am I really good at?
What are people willing to pay for?
A successful business will be where the answers whatsapp number australia to these questions intersect. If what you love doing is what you do best, and people are willing to pay for it, you have a great opportunity to create a brand that people love.
Example of the wrong approach: Opening a coffee shop requires careful planning and creative ideas. To stand out from the competition, you need to offer customers something unique.
Let's say it could be an interesting promotion, theme nights with live music or discounts on certain dishes. An important aspect is the quality of the product and the level of service. Before launching a project, you should analyze the market and study the needs of customers.
An example of the right approach: We open a new coffee shop based on our values and preferences. The goal is to offer customers high-quality coffee. This gives rise to many interesting ideas for business development.
We can create a community of coffee lovers in our area, organize meetings and tastings. Another idea is to unite producers of the drink who share our desire for high-quality roasting of beans. Finally, searching for rare varieties of coffee that are not available in other places in the city will attract new visitors.
There can be many more ideas for development if, in addition to the desire to earn good money (which, of course, should also be present), you fill the business with your values. The work will become much more exciting. Let's take, for example, the Pedigree company. At first, the managers saw the business like this: "We sell pet food, and that's it."
Then they changed their value base and realized that they wanted to not just sell food, but take care of pets. Then they realized that they could open not only pet stores, but also veterinary clinics. The change in values allowed them to move to a new level of thinking and, accordingly, product development.
Case: VT-metall
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Study consumers
To be successful in business, it is necessary that the company's values coincide with the priorities of your loyal customers. It is important to understand that your personal preferences and beliefs may differ from the views of potential buyers. In addition, the world around us is changing, and what was important to people yesterday may no longer be relevant today. Therefore, it is necessary to monitor trends and adapt to changing market conditions.
A classic example is Kodak, which had a significant share of the photographic film market but missed the digital camera trend. Similarly, Blackberry underestimated the arrival of the iPhone and failed to take into account the new user needs for large touch screens while maintaining high levels of security and privacy.
Since the pandemic, many people have placed greater importance on convenience and ease of service. This explains why self-checkouts are increasingly appearing in stores. In addition to saving on staff, they offer customers the opportunity to make purchases quickly and easily without having to stand in line and communicate with cashiers.
Develop the service
A simple way to define service is that it is an action that benefits other people. There are three key elements to this definition. The first is the action. Without it, you can't provide service. The second element is the benefit. The service should provide benefit, help solve problems, make the customer's life easier. The third element is the presence of another person.
Business does not exist for its own sake, but for the sake of its customers. They pay the employees and keep the company going. Service consists of actions that benefit customers and create a sense of convenience or pleasant emotions.
Examples of good service are friendly staff, free delivery of goods, a gift cup of drink in a tea shop, and shopping baggage in a supermarket.
Develop the service
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Service affects customer satisfaction, which is based on the difference between their expectations and the reality that the company creates. If expectations are not met, consumers are disappointed. However, when reality exceeds expectations, customers experience a pleasant surprise, the so-called wow effect. This is what is needed to attract and retain customers.
The goal of the service is to create a reality that exceeds the clients' expectations. The best approach is to give them more than they expect. But the minimum is to fulfill all their expectations.
When it comes to a business focused solely on profit, it is enough for reality to match the average customer expectations. For example, we can promise delicious coffee at a reasonable price, and if the consumer gets good coffee at a reasonable price, it will be satisfactory.
However, this approach is unlikely to make the client return again, as he will have no particular reason to remember your place. There is always a risk that others will offer similar services.
Customer service expert John Shawle estimates that 94% of customers attribute high satisfaction to brand loyalty. So even if your products are slightly more expensive than your competitors, excellent service can attract customers.
Show the values of the loyalty business to the client
Demonstrate your values, don't hide them, but openly declare them and back them up with actions. One way is to post them in a visible place, such as at the entrance to the store. For example, you could write: "We value our customers." But a statement alone is not enough; it is important that people can see how these priorities are embodied in real work.
Let's look at the example of the VkusVill chain of stores. They have such a value as honesty. This is expressed in the fact that they openly talk about their integrity and act accordingly. For example, they do not accept bribes to place products from certain suppliers on the shelves. They openly inform customers about this. VkusVill also emphasizes the value of openness. They claim that they are open to customers and really respond to their feedback. If visitors want to see certain products on the shelves, the purchasing department tries to find them and include them in the assortment.
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