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When you’re a business owner, the customer is king, which goes double if you’re an entrepreneur. Your business will thrive or struggle depending on how well you can deliver what the customer wants, and luckily finding this out is as easy as asking. But what’s the best way to gather feedback? By starting with the people who love your product, utilizing social media, and asking intelligent questions. Let’s break it down even further.
Start with your biggest fans
It might be tempting to cast a wide net and get as much feedback as possible, but doing so is counterproductive. Instead, you should focus on your biggest fans, the ones who love and believe in your business. Ask them what you can do to be even better. Your fans aren’t just eager to talk to you about your business, but they have many valuable opinions on what you can do to grow. If you can start with just the five people who love what you can do, you can better reach the five thousand who merely like it. That’s how you grow your business.
Utilize social media
Social media is a powerful tool for promoting your business, and it can also be used to engage with customers and gather feedback. You can start by reading their comments on your posts and online reviews of your store or post a short survey to get a more directed response. You can also post an Instagram story and encourage customers to respond. To drive up even more engagement, you can host a contest that requires customers to fill out a survey to enter.
Ask smart questions
Smart questions get smart answers, so really put some thought into what you’re asking, how you ask it, and most importantly, what you want to find out. For example, instead of asking simple yes-or-no questions such as “Do you like our product?” ask more in-depth questions like “What do you like or don’t like about our product?” You will get much more valuable feedback this way, feedback which you can better utilize to improve your product and business.
In the past, poor customer service might not have had a significant impact on your business’ growth. However, the internet has created greater transparency, affecting how consumers interact and view brands in a multitude of ways. For this reason, it’s important for business owners to see the ways in which bad customer service will impede their company’s growth and success.
Watch Those Online Reviews
Consumers do read the online reviews for any brand they’re considering using, so it’s important for you to also watch your brand’s reviews. Once a couple customers leave bad reviews, it can open a floodgate that leads to an overwhelming number of bad reviews. As a result, you’ll see a drop in the number of new customers your business attracts.
Higher Prices Will Increase Customer Churn
You will also be concerned with keeping your existing customers, so it’s important to consider how a price change will affect them. In many cases, a business owner will raise prices to compensate from the customer loss that bad reviews cause. The price increase can actually do more harm than good when it chases your existing customers away and towards a competitor.
Employee Satisfaction Plays a Role
If your business consists of a toxic workplace, your employees will be unhappy and you’ll see a higher turnover rate. As you struggle to keep up with the loss of employees, your remaining staff will also become overworked and highly stressed. This will also affect customer satisfaction because unhappy employees won’t go out of their way to help your customers. Creating a more positive workplace environment will help you avoid this negative cycle between the workplace experience and the customer experience.
Online Experiences Affect Customer Satisfaction
In addition to bad online reviews, a lack of interest in responding to customers will lead to lower conversion rates and poorer growth. When someone comments on a social media post on your brand’s account or submits a question via your company website, ignoring them is the worst thing you can do. You should make an effort to address their question or comment as quickly as possible. Even if they’re not expecting an answer, some type of reply can show that you’re listening.
Fortunately, you can turn around a bad reputation with a little effort. Although unsatisfied customers will be harsh, they will also be willing to give your brand a second chance if they see you putting in an honest effort to change. You can start by connecting with your customers on social media to find out how you can boost customer satisfaction.
While you may have started out with the ambition of becoming an exceptional leader, it’s easy to lose sight of that type of long-term goal. Over time, you may let more immediate concerns distract you, or you may simply experience a dulling of your existing leadership skills. These practices can help you sharpen those skills as you refocus your efforts to improve your leadership style.
Bring More Discipline into Your Daily Life
When you lack discipline, you won’t be prepared for the surprises that come to you throughout each day. This can leave you feeling confused or fearful, which are emotions that will negatively impact your ability to lead. By bringing more order and discipline into your life, you’ll be prepared for those surprises and you’ll have a strategy for dealing with them.
Make Sure Your Door is Still Open
When you first started leading your team, you probably promised them that your door would always be open. As you think back over the most recent weeks, how many times has a team member taken advantage of that open door policy. If the answer is zero, that may be because your team doesn’t feel that openness any longer. This is the ideal time to check in with your team and make sure they still feel welcome to express their ideas and concerns. Take the time to ask how each individual is doing and show an interest in their job satisfaction as a way to get the ball rolling.
Find a Mentor
You’re never too seasoned to benefit from the advice and guidance of others. You should look for a leader you admire, either within your organization or outside of the company, and connect with them. It will be beneficial to have the ear of someone who has developed a strong leadership strategy. They can help you fine-tune your own style and give you insights that will help you deal with specific challenges. Maintaining a connection with another leader will also help you stay focused on your role as a leader.
As with any tool, leadership skills will become rusty and dull through periods of non-use. Yet, you still possess those skills and finding new ways to use them will help to keep them sharp. As long as you make the effort to stay dedicated to your leadership style, your efforts will pay off.
About Jason William Kumpf
Jason William Kumpf has worked in international business for over a decade. With involvement in global real estate sectors, the expat sector, ecommerce, and finance, it is safe to say that Jason William Kumpf is a well-rounded businessman. By having a hand in multiple sectors of various international and national markets, Jason has built an incredible network of global professionals that include recognizable Fortune 500 companies as well as young, burgeoning startups.
Jason William Kumpf is Co-Chairman for an international California Trade and Business Networked called Cal Trade. To expand his reach, he also serves on the Young Members Board for FIABCI International Real Estate Foundation, a French entity with active chapters in 48 different countries. In addition to these positions, Kumpf is the Director of Alliance Partnerships at USForex Inc which works toward creating better exchange rates for several international ecommerce markets. Similarly, Jason William Kumpf is the Director of Partnerships at OFX, also in the international currency exchange rate industry, working towards the acquiring the best exchange rates available for his international clients.
In addition to Jason’s work internationally in the foreign exchange markets, he has also taken a great interest in tech startups. He has a passion for taking an outside look at complex issues and creating tangible solutions to better the overall structure of a new company. Because of his extensive training in a wide range of industries, and because of his energetic and positive spirit, Jason William Kumpf is able to not only craft great business strategy but motivate his teams as well.
Having spent nearly 20 years studying abroad and working internationally, Jason William Kumpf has seen many sides of business, negotiating, and leadership. For this reason, he feels it is incredibly important that he pass on the information he’s gained over the years to those looking to grow within the international exchange rate markets. Having a strong leadership style is valuable, but having the ability to adapt that leadership style to meet the needs of any market you’re working in is a priceless skill that will take anyone with the right drive far in life. Jason William Kumpf hopes to inspire some of this leadership in a new generation of young and talented industry members.
As Jason William Kumpf enters the next stage of his career, he looks towards opening new doors for leadership training and business strategy opportunities. If you’re a young tech startup or just looking for some leadership style advice, Jason William Kumpf’s new blog will act as a great resource. Without sharing what works, progress cannot be made, and Jason William Kumpf is dedicated to not only continuing a successful career for himself, but to see this reality happen for others.
For updates on Jason William Kumpf, be sure to check back often as new blog content will be added regularly.