Ways to adapt to Customers’ Expectations

Customer expectations changed considerably in 2020, and many of those changes are here too last. As a result, a modification will be necessary for sustaining healthy customer relationships in the new normal. Below, we will look at how customer expectations shifted and how companies can adapt in the months and years ahead.


There are Four ways to adapt to customer expectations in the new norm

We are all doing our best to move on from the pandemic, but it has already impacted trends concerning customer needs, sentiment, expectations, and how people interact with brands. 

Many research firms and consultancies expect some of these trends to turn back, while others will remain or even step up. For instance, once public safety fears have died down, many have suggested that they want to travel and revisit malls. But other trends will not change course or slow down:

Customer expectations are rising as time goes by. From the last example, we can see that meeting those expectations is critical to maintaining a loyal customer base.

Here are a few examples that businesses can adapt with their customer experience an strategies for the 2020s:

1. Brand image

Customers have always been fussy when it comes to bad experiences. Who can blame us? We have been flawed by lightning-fast internet and same-day deliveries.

Several research findings have shown that a single bad experience can influence a significant percentage of customers. In 2017, for example, Price water house Cooper found that approximately 32% of customers would discard a brand after having one bad experience.

For better or for worse, this requirement for outstanding

experiences has not changed. So Broadridge’s survey homed in on personalized

customer experiences. They found that many people would leave a brand if they poorly personalized the experience—between 28% and 59%, depending on the age group.

Personalization can be helpful at every phase of the customer journey, including:

Customer service

Sales

Marketing

Onboarding

The correct application of analytics and data-driven methods is vital to grasping customer confidence. When used correctly and respectfully

(hello GDPR), data that can be acquired from custom surveys and analytics, among other sources, can be used to create individualized confidence at each step of the way.


2. Customer-centric business representation

To account for customers’ changing confidence, it is often essential to adopt new business processes. Some excessive cases even require entirely new business models.

Agile methods are one example, and many business consultancies have emphasized the importance of staying nimble and customer-centric.

By introducing customer-centrism into their business processes, organizations can adjust as immediately as the minds of their customers change. 

Businesses that stayed agile in 2020 have

overtaken those that did not. The main

reason for this is that being agile. As a result, businesses can reprioritize immediately,

keeping customer needs at the core of their operations and delivering customer-centric products and services with minimal interruption.

3. Providing omnichannel

customer experiences

Broadridge, a financial technology company, discovered that 70% of people took a step towards more significant digital dealings with at least one provider, and 60% believed businesses need to improve their customer experience.

The study also pointed out that customer confidence has changed permanently, with 56% of consumers believing that COVID-19 has fundamentally affected how they relate with brands. 

The study also learned that 84% of customers want businesses to interact across all channels immediately. So, the data also suggested that omnichannel customer services are here to stay.

Omnichannel and multi-experience indicate that companies must deliver consistently seamless customer experiences that span multiple technologies and touchpoints.

There are several reasons for this.

One is that some audiences prefer specific devices. For example, baby boomers may be more likely to use their desktops for larger purchases, while millennials may choose to use their mobile phones entirely. 

Yet another reason is to deliver omnichannel experiences to customers that bounce between channels. An example, throughout their relationship with a brand before, during, and after a purchase. 


4. A requirement for connectivity and speed

With everyone due to the frequent lockdowns is at home, interne use surged by over 70%!

A study from Pew Research confirmed this, having confirmed that more than half of the population felt the internet was “necessary” during lockdowns, and 34% said it was “essential.”

Customer patience is short, and it is only whittling down as availability grows. Not only are people anxious when it comes to telephone customer service, but they are also impatient when it comes to digital communications. Sluggish websites, badly designed UIs, slow apps, and other delays can be costly.

One of the suitable ways to remedy these delays is with proactive technology. Chatbots, Facebook, In-app guidance, LinkedIn, Data-driven personalization, and high-performance

IT infrastructure are just a few ways businesses can use digital solutions to cut wait times and improv the customer experience.

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Bookkeeping

You can create any structure you want by using the same tools as in the regular workflow. Add buttons and forms or anything else you'd want.

Being experienced with an accounting background, we can offer a wide range of reliable and accurate bookkeeping services. A common question often asked is, "What exactly does a bookkeeper do? "The answer to this question is shown below for our services as specialist bookkeepers. We can,of course, modify our services to suit the needs of your business whether you need a few of these services or all.

·      Accounts Receivable*-Invoice preparation and follow-up with the client

·      Accounts Payable* - Suppliers' invoices are processed and paid when due.

·    Bank Reconciliations -Reconciling Bank and Credit Card accounts with daily bank feeds

·     GST Filing                        - Timely filing of Bi-Monthly or Six-Monthly returns

·     System Training               - Training is required whenever you choose new software. We provide free training.

·    Accounting Software conversions – With our expertise, we can switch your accounting information to XERO/MYOB

·        Payroll

·        Unlimited Email Support

*Note:- Accounts Receivable and Accounts Payable are closely monitored to ensure that your business has no issues with cashflow

Payroll Management

Business Pillars offers all-inclusive payroll services that help your business run efficiently. We are committed to being legally compliant. Our services are built to simplify payroll processes for small to medium-sized businesses throughout New Zealand.

PAYROLL processing made easy

We provide the most updated payroll solutions tailored-made that is affordable to your requirement. We are committed to taking care of all the work demanded, allowing you to focus your time and energy on more essential things you love to do.

Our payroll services are:

·        Employees pay, On-time payments including benefits, reimbursements, deductions, Weekly/Fortnightly/Monthly

·        Employee PAYE

·        Payday Filing   – Timely filing returns to IRD

·        Leave entitlements– Accruals for each type of leave

·        Leave Payment - As per Holiday Act 2003

·        KiwiSaver contributions

·        Maintaining payroll records – payments and documentation

GST Filing

Timely Processing

We ensure that we file all GST Tax returns two weeks before the due date. We keep our clients informed before we proceed. This ensures that the client is at ease.

·        GST Filing        - Timely filing of Bi-Monthly or Six-Monthly returns

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Monthly Management Meetings

The primary purpose of a monthly management meeting is to get the business to grow. This is either done through a phone call, zoom, or meeting in person.

Cash flow Management

Managing cashflow is a significant responsibility faced by most small businesses. We reach out to businesses making it stress-free to ride on the highs and lows of the cash flow throughout the year.

We assist in producing a cashflow statement which is a financial statement that summarizes the amount of cash entering and leaving the business. The cashflow statement measures how well the business can manage its cash position, meaning how well the business can generate cash to pay its debt commitments and fund the day-to-day operating expenses.

Budget Forecasting

Small business budgeting and forecasting

We need to get some relevant numbers to know what the future will look like regarding a business. Budgeting and forecasting will help to support this vision. Business Pillars can work alongside you to understand these basics so you can build a financially sustainable business.

What is a budget?

The budget estimates how much money will come in and go out from your business over time (usually a year). Budgeting and forecasting normally benefit all businesses and first-time startups to see if they can afford to run the business and compensate for all their hard work with a good return for their initiative.

What are the main principles of having a budget

Budgets forecast the money-making possibility of a business. It will also highlight things like:

  • How much will it cost to startup?
  • How much money is needed to borrow?
  • When will be the breakeven point?
  • How much should the customers be charged?
  • How many staff are needed?

Monthly / Quarterly Advisory

The clients are in a position to process their reports from the software chosen. Based on the service requested, additional reports are also given that are not available in their chosen software. These reports enable the client to make corrective business decisions. Business Pillars reaches out to clients who require more assistance.

Job Management

Job Management is software that supports project managers and teams to complete client requests and projects efficiently. Most professionals depend upon this job tracking software which assists them in supervising multiple sections of a business. Business Pillars are here to assist in setting up this service to track income and expenses related to service jobs.

XERO and MYOB both have the capability for Job Tracking

These are the advantages:-

·        Create quotes immediately

·        Easily track jobs from quote to invoice

·        Schedule the jobs on the go

·        Get paid quicker