Showing posts with label customer. Show all posts
Showing posts with label customer. Show all posts

Most Common Mistakes That Every Startup Makes

There are a lot of start-ups in the industry, but only a few are successful. And most of them make the most common mistakes which lead to start-ups failure. We are here to discuss the most critical and common mistakes that every startup makes to help you understand better of the startups' world.

You may be thinking you have a unique idea or an invention which may rock the startup world but here is where everyone makes a mistake without realizing it.

Want your startups to reach heights and don’t want to commit the same mistakes that every other startup makes; then here are the top most severe mistakes that every startup makes:


A lot of times startups fail due to the lack of demand for that particular idea or invention. Many commence their business with a unique approach but fail due to:

• Scarcer demand for that product or service.

• The service or product is not able to provide a solution to already existing problems.

• A product or service may also fail due to the insufficient requirement in the current generation but may be useful in the future.

• When a product or service is bounded by the lack of technology, which is a product that is ahead of its time, and unique.

Everything You Need To Know About KYC Compliance

Depending on the type of industry that you are in, you might have heard the phrase ‘KYC’ thrown around a lot – but what does this mean? KYC stands for Know Your Customer and it is really important for those who obtain new customers on a regular basis or have money moving about in their company.

Here, we are going to tell you everything that you need to know about KYC compliance and the tools that you can use to make sure that you are following regulations. Keep reading to find out more about KYC.

What Is KYC?

KYC is a process, so in a way, you are getting to know your customer through obtaining their information. This process can be quite lengthy, and many people tend to avoid getting the important information in order to make sure that their customers complete the sign-up or purchase on site. However, this can cause major issues in terms of security and compliance when it comes to age restrictions.

This is why KYC is so important as it can help to deter those who are planning fraudulent activities and protect the company who are running the KYC checks.

Who Does It Apply To?

KYC compliance is very important in many different industries, but it is especially important in the financial industry right now. The legal authorities behind these companies require all of this important information for transactions to go through and if KYC checks are not done then there are serious risks for the companies.

It is important that any company enforcing KYC checks knows about the regulations in their particular country and industry. Rules and regulations differ between countries and so you are likely to come across different checks depending on the service that you are using.

Tools For KYC

Customers can easily be put off by KYC checks when they need to spend a long time entering their details just to make a purchase. This is why there are new tools that you can use to make this process more streamlined and still ensure that everything is correct. Using an identity verification service is very important in ensuring that you are complying with KYC regulations and that your company is protected. Cognito is an increasingly popular option for anyone looking to verify their customers and you can look here for more information on the key features of this service.

Final Verdict

Knowing your customer is very important if you want to make sure that your business is operating in a safe and secure manner. In any industry, including the financial and gambling industries, you’ll find that regulations can be very strict and will be enforced. Make sure that you are making use of any KYC tools for your business and don’t let yourself get caught out by fraudulent or underage customers.

Now that you know everything that you need to know about KYC compliance, you can protect your company and make sure that everything goes smoothly in the future.

Why Diversity Training is Essential for Company Culture

Every kind of organization is beginning to put more and more emphasis on their company culture. A strong, positive company culture promotes the well-being, satisfaction, and productivity of employees, leading to a workforce that has higher retention of key talent, an improved bottom line, and better levels of productivity. Diversity training in the workplace is often key for improving company culture. Here are just some of the best ways diversity training can benefit your employees.

#1. Be More Welcoming to New Hires:

The integration of various groups of people into the workplace is growing rapidly thanks to globalization. People of various nationalities, religions, sexual orientations, abilities, hobbies, health issues and countless more identifying characteristics that contribute to their unique identities are making workplaces around the world more diverse places. And, as the age for retirement increases, companies are also seeing a greater range of diversity in the age groups that they employ. Diversity training can play a key role in ensuring that all employees are ready for increased diversity at work, making it easier for new employees from diverse backgrounds to easily integrate into the workplace.

#2. Improve Collaboration:

Training employees in the subject of diversity helps them better understand the need for a variety of viewpoints and opinions, in addition to the many benefits of being cooperative and considerate of others. As a result, this can lead to greater levels of collaboration between both current employees and future hires when it comes to work tasks, as this spirit of collaboration becomes more ingrained in the workplace culture.

#3. Improve Company Reputation:

Businesses that care about their reputation should be very aware of how their culture is perceived by others. A workplace culture that is toxic has a way of being able to make itself known, whether by reviews from past employees or worse, making its way into ‘worst companies to work for’ lists in the media. The biggest issue with a toxic company culture is that it will not attract the best talent and workers. These workers tend to have a range of different companies to choose from and will usually always pick those that have a strong reputation for good company culture and avoid organizations where they feel their work will be undervalued. Diversity training can help create a workplace where all workers feel valued and appreciated, helping to improve the business’ reputation to the wider world.

#4. Encourage the Sharing of New Ideas:

Last but not least, one of the key benefits of a diversity training program is that it can help to encourage the flow of thoughts, opinions, and ideas from employees working at all levels of an organization. This is mainly due to the fact that diversity training places a high emphasis on valuing others’ thoughts and opinions. This makes managers and team leaders more accepting of new ideas, leading to input being gained from all areas of the organization, allowing management to collect insight on company processes that they may have otherwise been unaware of.

Training employees in diversity not only helps to promote acceptance of everybody in the workplace but also improves several company culture factors that lead to improved operations overall.

4 Tips to Boost Your Small Business Website in The Holiday Season

The holiday season provides an excellent opportunity for people to make sales and increase revenue. Customers are in the shopping mood and the average spending during this season is around $794 on gifts alone. The US retail industry generates around $3 trillion around this time.

If you want a piece of this pie, you need to make sure your website is optimized for it. Most of the holiday shoppers shop online or at least research online before they make a purchase in-store.

E-Commerce Landing Page Hacks that should be Implemented Now

landing page hacks

Online advertisers are about transformations. It is the thing that keeps them in their employment, in this manner, any approach to build transformations is imperative. There is no better route for an online business to build permeability and change than utilizing the highlights of a web-based business presentation page format.

What is a Landing Page?

It is a site page that remains solitary far from the primary site and whose reason for existing is to promote or advertise some item or administration. It is utilized to get subtle elements of guests, for example, their email address in return of something that they may need or like. The presentation page may likewise elevate prompt deals to the guests relying upon what you offer them.

At the point when a searcher taps on an online advert or query output, they are conveyed to the landing page where they can leave their subtle elements and access the offer made to them. The points of interest gathered are leads for potential customers. You can utilize the data to showcase items later on and perhaps get deals.

5 Ways Your Small Business Can Impress First-Time Customers

customer satisfaction

Impressing the first-time customers is perhaps the most challenging task for a business. While satisfying the retainer customers is absolutely important, engaging with first-time customers is crucial for the success of any business. These customers can bring in new customers as they share the positive experience with you. 

In the competitive market today, nothing works well like a verified feedback. Customers are deeply influenced by what fellow customers have to say. Hence, every customer is important for your business and first-time customers should be treated the best. Helping customers to solve their issues is pivotal for your growth because these customers will either be satisfied with your customer support or will move on to your competitor.

Be Prepared to Answer the Queries: 

Research shows that 70% of customer tend to switch brands primarily because of their dissatisfaction with the helpdesk. The volume of your business doesn’t matter to those who are willing to do business with you. What matters to them is your preparedness to answer all the questions. 

Perhaps you are well aware of the fact that flawless communication is the key to the success of your business. But you need to make sure that there are enough channels to get in touch with you in case of urgency. Most of the unsolved queries make their way to the social media where customers tend to share the negative experience. 

Just like prevention is better than cure, your ability to answer questions on time is better than having queries unaddressed. In order to answer questions, you will require to have information on your product, the USP, the brand promise, return policy, refund policy and so on.

Understand your Customers: 

Most of the small businesses fail because they don’t have a clear image of who is their target audience. In order to understand your customer, you should create a profile of your ideal customer. With a comprehensive understanding of your customers, you can start developing fruitful marketing methods. 

While developing the marketing methods, you need to define what is the reason because of which your customers will believe in your product or service. Once you have all of these sorted, you will have more clarification on your strategy. 

Perhaps the first step of attracting new customer is to develop a website that actually informs and educates the buyer instead of trying hard to sell them. In this era of new media, a sophisticated website helps you to establish your credibility which in turn makes the customer more confident about doing business with you.

Take Care of the Expectations: 

You can only expect your customers to buy from you when you meet their expectations. Every customer has his or her own expectation when they purchase a product or service from a brand. That expectation may be in terms of the quality of the product, experience with the customer service, ease of user interface and so on. 

Once you personalize your communication to meet the needs of your customers, you will be on the path to develop a long-term relationship. While large corporations might not be able to show their care for the customers very effectively, you can and this will differentiate you from others once you do. 

While purchasing the product, every customer is keen to be treated as valued. Therefore, your approach can make a difference. A simple discount or a coupon to be used in future can do the trick. But you should be able to portray that this is not a no-strings-attached relationship.

Staying in Touch with Customers: 

Staying in touch with customers is another important thing that you need to excel at. Your relationship begins when a customer enters into your shop or online website. Irrespective of whether the customer makes a transaction or not, you should never leave them. Get in touch with them after they make a purchase and be keen to know their feedback. 

Multinational companies usually send a birthday notification or email a newsletter every month. But you can personalize it by offering a discount, especially on his or her birthday. You can also ask them politely to review the service they availed or the product they purchased. 

This unravels the rejuvenating path for you to know the level of satisfaction of the customer as well as to invite other customers. You can also invite your customers for a sale or a conference that you are speaking at.

Thank Them: 

Many businesses forget to express their gratitude to the customers once they are done doing business with them. This is not the way you should adopt. While you can be creative in your way of saying ‘thank you’, you can take a simple route as well. 

However, a customary thanks don’t do much good. So it is wise to mean what you say. By resolving an existing issue that your customer is suffering from, you become a valuable resource for them. 

Thus you stay in their top of mind. All of these can help you to grow your business as you ensure customer satisfaction and hence get referred to other potential customers in the neighborhood.