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Managing customers
The customers are at the heart of your organization. Precise understanding of their needs and tweaking our product or service to meet their needs are sure shot way to success. Customer preference is not handed on a platter and therefore takes some amount of research to understand. Customer Feedback is a commonly utilized way to access their opinion. Ascertaining customer needs and wants help you zero in on the areas that require improvement.
Managing Employees
Did we say, customers are at the heart? Employees are the backbone of the organization. One of the best ways to improve employee performance is to motivate them to do better. Motivation can be attained in several ways such as monetary incentives, performance based rewards, foreign tours, and sometimes even a pat in the back will do. These days, ERP systems are capable of identifying prospective customers (who are just a step away from purchase decision) and provide leads to the employees. By following the lead, employees can induce fence sitters to expression of interest and half-hearted enquiries into actual sales. To keep employees motivated, the management should constantly engage with employees.
Managing Time
Time management is another key factor. The marketing team gets you orders, which have to be fulfilled within the assured delivery time. For this to work, time management at multiple locations such as production lines, supply channels and warehousing and despatch channels is required. Co-ordinated ERP systems exist for tracking and managing Supply Chain Management, Production Management, Customer Relationship Management, Warehouse Management etc. giving the top management a complete view of hassles in any part of the systems.
Quality Management
People prefer a product or service for the quality. A company that compromises on quality cannot sustain in the long run. Total Quality Management ensures that the products and services rendered are of pristine quality. Quality products get loyal customers, who in turn beget more customers. In certain industries like restaurant business, repeat customers are the key to success. Therefore quality is the key.
Digital Marketing
What is the use of quality, if people are not aware of it? Technically, a good quality product can still reach more customers and gain in popularity through word of mouth. This is a time consuming and painfully slow process. The immediate aim of any start-up business is to break-even in the shortest possible time. Taking to social media is an excellent way of reaching out to customers in this digital era. Though there are about 3 billion social media users world-wide, targeting potential customers on the basis of region, locality, age, sex, profession etc., is much easier on social media. Social media also proclaims the technological personality in you (or organization) positioning your business as a modern entity, rather than an old fashioned, run-of-the mill kind.
Building Relationships
Networking offers an excellent opportunity for business expansion. It helps in the creation of brand identity and expand network. Networking helps build relationships with customers, investors and employees alike which in turn spell success.
Having said all these, there is no specific technique that suits everyone and every business model. The best strategy therefore would be to find and adopt what works for you and your business. Working on the path of success brings more success. The best thing would be to focus on the working strategy with minor tweaking to stay afloat in changing times.
