5 Tips to digitally expand your business’s professional network
The importance of networking – especially during COVID-19 – should not be overlooked. While many business owners have been struggling to stay afloat in the economic downturn that has resulted from the events of 2020, they may have been neglecting one of their key resources in maintaining their success. Good networking skills are one of the most valuable business assets that any business owner can possess. How you connect to others in your field of work (and this includes your competitors) can have a marked effect on your ability to make the right decisions at the right time with the right resources at your disposal. Naturally, networking does not come easily at a time like this, when social distancing measures are, even by optimistic projections, set to stay in place for quite a while. How then can you, as a business owner, keep expanding your network, your knowledge, and your connections under the current conditions? Here are five tips: 1. Curate your new first impression (your digital presence) Handshakes, networking events, and comfortable face-to-face meetings are no longer an option for the time being. For this reason, having a digital presence is vital to your continued networking success. Business owners would do well to remember that in the absence of personal contact meetings, their digital presences form the basis for any potential connection’s first impression of them. So, remember that social media and email are your friends so long as the framework of your media networks is steady, and you curate your current content so that whoever lands on your or your business’s page immediately has an understanding of your identity and the identity of your company. 2. Plan a strategy Don’t make the mistake of coming out of the gates guns blazing. The Coronavirus pandemic has taken its toll on many business owners, and if your business is struggling, the worst approach would be to start something that you cannot see through to completion or one that demands too much attention from others. Focus your energy on one or two platforms, where you will be able to keep your dots connected. 3. Revise your elevator pitch in a new medium Finding new ways to present your core message and goal in an effective way will be pivotal to digital networking. An elevator pitch is often only as successful as the way in which it is presented. You can no longer rely on traditional charisma and body language (although for some, this may come as a relief). Become familiar with etiquette and conventions in different kinds of media and find new ways of displaying confidence and digital charisma by knowing when to break the mould. The fastest way to make a real connection will rely on a presentation that stands out among others like you. 4. Start small Since you no longer have the ability to connect in the same ways as before, people will be naturally apprehensive at first. One of the simplest ways to build the initial rapport is by either offering something small (without expecting anything back in return) as a token of good faith, or asking for something reasonable that does not demand much time/resources from your recipient (which expresses your faith in their knowledge/ability). Even business relationships are, after all, based on the principle of give-and-take – just try to keep a balance. 5. Persevere through failed connections Take time to keep track of each individual attempt to connect with other professionals and of instances where these attempts are already in the process. Follow-up communication can go a long way to solidifying a relationship that would otherwise just have fallen by the wayside. You don’t want to come across as being too pushy, but the reality is that many emails, especially on busy days, are missed or actively dismissed because of time constraints. Following up a day or two later can help you connect with those who missed your email or trigger a memory that an email had been sent from your address previously. Even a third or further follow-up can help you make your mark where others give up. Are you ready to make the kind of connections that will lead to more business or improve the way that you do business? While networking in the digital age (especially when paired with social restrictions) can seem daunting, many businesses are missing out on real success and growth because of it. Make your mark, expand your professional network, and set yourself apart from the rest. References: https://www.welcometothejungle.com/en/articles/networking-during-corona https://www.allbusiness.com/network-small-business-owner-113187-1.html https://www.businessknowhow.com/tips/networking.htm This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE)
How your business can do more by doing less
If there is anything that the time of COVID-19 has taught us, it is that technological preparedness is an essential part of running any business. In the past few months, many businesses that did not have the necessary infrastructures in place have struggled to keep up with their competitors who did. The adaptation of technology in the business space has become more prevalent in the past few years and by current trajectories, it seems that neglecting to keep up will come at the business’s expense. The main reason for this is that many businesses are relying on more and more work done outside of the traditional office space. Most modern technologies are equipped to make it possible to work from anywhere and access company data and resources while away from the office. This is thanks to cloud storage and operation. Even if there is nothing done out of office (which is hard to believe), it provides businesses with a secure storage solution that isn’t dependent on files stored on physical hard drives at the office location. Furthermore, technologies also make automation possible. For many tasks that will take a few hours when done manually, an algorithm can do the job much quicker and with better precision. This means that technology can save you a few hours of laborious administrative tasks that are better spent growing your business and making direct contributions to its success. Below we detail a few technologies that your business cannot sensibly go without in the modern business world. The basics Office suite: Without an Office Suite, you are severely limiting the opportunities in your business. Unless you can count your employees on one hand (and even then), an office suite can save you lots of trouble and frustration. The main reason for using an Office Suite is that it creates a centralised point from which your organisation can operate and is not reliant on any one member. Many businesses do not realise the problems that a non-centralised system can cause until one of its members leaves the organisation, where data transfer can be extremely difficult, while removing administrative permissions for the member that leaves. On a practical level, an Office Suite allows easier collaboration between people in your organisation (even allowing them to work on the same files simultaneously). Furthermore, an Office Suite will include all the various applications that make the various digital tasks in your business possible, with cross-application filesharing from the centralised system. Antivirus software: Most of the threats to your business’s security in the modern world will come from digital sources. Ever since people have started storing sensitive information in digital formats, criminals have been trying to obtain illegal access to such information. Without trustworthy anti-virus software, you are making yourself vulnerable to each and every attack and putting your computer and, most importantly, your company at risk. Even with preventative measures, cybercriminals are extremely savvy in the way they attempt to steal sensitive data. Making sure that every employee has a legitimate antivirus program installed on their computer can go a long way to securing your business’s safety. A good antivirus program will also protect against phishing and malware, and will increase the general safety of your employees and systems. Accounting software: If you are a small business, you will need to invest in some form of accounting software. With the complicated nature of payroll, bookkeeping, accounting and taxation, attempting to do everything manually (or even by spreadsheet) could have disastrous consequences. Software can help you keep track of your financial situation while you grow. Naturally, you will not want to go at it alone, and you will need to periodically make use of a bookkeeper or accountant, but having the right software can really smooth the processes as you grow and potentially start looking at hiring a full-time bookkeeper. The main reason you should not solely rely on the software of your financial managers is that having easy access to your financial data can go a long way to planning for your business’s success. Project management software: If you work in an industry where multiple people are working on one project at the same time, you will have an extremely tough time keeping everything in order and on track if you simply rely on traditional electronic communication, such as email and instant messaging. With a Project Management program, you have an excellent overview of the tasks of individual players as well as the overall progress of a project you are working on. It also helps identify problem areas in your processes or bottlenecks in your business’s line of production. Not only will you be sorting out issues long before they become problematic, but you’ll also negate the need for unnecessary communication and check-ups that may hinder progress. Website and mail: The world is moving online and if your business has not moved online yet, it puts you at a great disadvantage compared to your competitors. Not only is it necessary to be online, but to be able to give your existing and potential clients easy access to all the questions that they have about your business. Domain registration and dedicated mailing addresses will add professionalism and visibility to your business. Leading technologies Fibre and 5G Making sure that your business is geared to handle high-volume internet data is becoming more and more important. As things stand, it seems DSL/ADSL technologies are on the way out while the fast speeds of 4G LTE feel slower by the day. In order to keep up with the data demands of your business, you should really start looking for alternative, newer internet technologies, such as 5G and Fibre technologies. By increasing your bandwidth, you’re decreasing the frustration of slow loading times and unstable real-time communication connections (which seems to be becoming a major player in the way businesses will communicate after the COVID-19 pandemic. Smart Offices While not a necessity, savvy business owners would do well to keep their eyes peeled on the development of smart technologies for the office space. Maximising productivity and performance in the workspace can be achieved by implementing interconnected smart devices/systems. Having an integrated smart office is already possible with devices such as the Google Assistant or Alexa and their compatible smart devices, although there are still some regional functionality limitations in South Africa. Remote desktops One of the most effective technologies that businesses have been using during the COVID-19 lockdown is remote desktops. Remote desktops allow you to use office computers from a remote location (such as your home). As more and more people return to work, it does not damage the merit in investing in remote desktop software as it allows those businesses functioning in always-on industries to utilise office equipment wherever they are. The Future
Are your efforts to gain customers making you lose them?
There is a little tip to the success of every business that many people disregard: Customers are vital to the success of your business. Of course, you knew that already. But converting leads into sales is just one part in the grand puzzle of sustainability in your business. Take a moment to think about your business and its clients, and ask yourself the following questions: Who are your longest standing clients and why do they keep coming back? What percentage of your clients are just once-off customers? How many customers have expressed satisfaction with your service and/or products? How many hours have passed since you last engaged with customers over social media? How you answer these questions will depend heavily on how you are approaching your client relationships and developing a customer experience that goes beyond a mere product or service. One of the most important aspects of running a successful business is in client retention. However, many business owners and management teams treat the client base as something fixed, when it is possibly the most dynamic element of the business structure. At the end of the day, it is not only clients’ experience of the products or services that you sell that makes them come back. As technology and methods of communication are continuously developing, businesses can no longer rely on traditional means of communication and marketing. The digitalisation of the customer experience can be a curse or an opportunity, depending on how you approach it. It is no secret that how you present yourself to your client base has an impact on whether they choose to make use of your products/service over those of a competitor, but it would be foolish to think that this presentation stops at the point of branding. Branding gives your product/service a face, but it’s in how you interact with your customers that those products/services gain character. Often, the difficulty in assessing the customer experience comes as a result of a lack of feedback received. If you don’t get feedback, how would you know if people are satisfied with your business? The easy answer is that if you are not getting feedback, it should signal that there is room for improvement. According to research by thinkJar, only one in every 26 unhappy customers will complain and 91% of these unhappy customers who don’t complain leave. Measuring your customer satisfaction in the absence of such interaction happing in the first place is a recipe for disaster. If customers are happy, they will find a way of letting you know (even if not overtly). The customer-experience is developed through every interaction that the customer has with you, as it relates to sales, expectations, feedback, surveys, social media engagement, newsletters etc. The thing is that the basic desires of your customer are not found in your product/service, but rather in being heard, understood, and given an avenue to satisfy their needs and desires. That might sound strange, but any business that focuses on the product or service before the customer is really going at it blindly. It is through engagement with your customer that you know what product or service to prioritise, and it is by meeting their needs and building a relationship that your customers are retained and keep coming back. The traditional Customer Relations Manager (CRM) will usually fulfil the role described above, but they are generally positioned in such a way that the job description focuses on a reactive response to clients rather than a proactive approach. The scope of what the CRM does must broaden if the company they work for wishes to become customer experience leaders. A few tips for a Better Customer Experience: 1. Have multiple avenues for customer engagement, but do not go beyond your capacity Every avenue that you make available to your customers to interact with you should be something you need to monitor and respond to quickly. A business that runs a Facebook page, for instance, needs to be actively engaged with their online community. You need to have a dedicated person/team (depending on your business’s size) on the task. If you are not able to meet your clients in the spaces that you make available to them, you will lose their attention and loyalty very quickly. Unless you have a structure in place to add a platform of communication to your customer experience model, perhaps you need to reconsider your decision. 2. Don’t make every interaction transactional Just as with your interactions with your friends and family, your customers do not want a relationship that relies on quid-pro-quo interactions. A good customer experience relies on your desire to connect with them even when you are not getting anything from the interaction. If you only make your customers feel like they are valuable when they can give you something, you will lose them quickly. Building a stream of continuous engagement is vital to making your client feel special. 3. Ask for more In the same vein as the previous point, building a non-transactional relationship with your clients also means that there may be times when you ask for something even when the client may not get something tangible in return. If you want to know what your customer base wants, the solution is simple: ask them. For instance, once you have delivered a service or product, ask your customers to provide feedback on their experience. Asking for feedback indicates that you care about their experience enough to consider their opinion. Keep in mind that even if you receive negative feedback, it is better than not knowing at all. If you know where your strengths and weaknesses lie, you only have room for growth. 4. Add value If your customers are going to keep choosing you above your competitors, you will have to provide them with something that the competitor does not. Quality services/products are the main way in which you add value to your business, but if your customer’s experience is only found in what you sell, there is no reason for them not to choose an alternative of similar quality. Adding value to your customer experience separates your business (not just your product/service) from the competitor. An engaged customer will be much more reluctant to trade a positive experience for an unknown one. 5. Keep track of events, trends, and current affairs A business that lives in the same world as its customers/clients is a business that is best-equipped to improve their customer experience. Depending on your image and level of formality in your communication style, engaging with your customers through a trending meme (low formality) or apt article (higher formality) could increase their level of familiarity and loyalty to your business. It is, however, important to know and establish your communication protocols as inconsistency has the ability to confuse and divide your existing customer base and deter newer customers from conducting business with you. Short-term action, long-term effects How you develop your customer experience has a lot to do with your prompt and relevant engagement