Tuesday - January 6, 2009
As the economy is forcing companies to cut costs -- or at least scaring them into doing so -- one important aspect of business is being left behind in the panic: customer service. For the past few decades it has taken a backseat because of budget cuts, outsourcing, and the loss of talented staff. As companies go down to the bare minimums this coming year, sadly this trend might continue. As a business owner for the past few years, I feel that the return on investment from a team of skilled, honest, local, and loyal workers is far greater than that from a team of cheap, outsourced employees.
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Saturday - December 27, 2008
The game has changed for retail. In an era of increasingly competitive online business, failing corporate giants and consumer fear over the state of the economy, it's clear that small online retailers will face an uphill battle over the next several months. The good news is, e-commerce may be the one bright light in an increasingly dismal world of retail, and there are steps retailers can take to improve profits online.
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Sunday - December 21, 2008
Have you noticed your inboxes are filling up faster lately with promotions from businesses desperate to get your attention? If you're like me and getting bombarded with multiple promotions, then your first inclination is to just tune them out, click delete and move on to the business of the day.
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Monday - December 8, 2008
How did Seattle become the home for technology companies that want to help you buy or sell ... a home? Sure, it's where Microsoft and Amazon are based, and it's a well-educated, tech-savvy community, and the University of Washington churns out more than its share of software engineers. But why real estate?
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Sunday - December 7, 2008
A clean, well-lighted menu board. Speakers that clearly coo "may I take your order?" And the biggie: speed without screw-ups. That is the gold standard for a fast-food drive-through, and McDonald's and its rivals have developed a science of sorts to try to meet it. Each year, the drive-through captures a little more of the fast-food industry's sales, so a smooth-running drive-through is a competitive advantage.
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Friday - December 5, 2008
Are cable "bundle" customers changing channels to wireless telecom services? A recent study by the CFI Group, which focuses on measuring customer satisfaction and CRM issues, indicates they are. That is, if they can. Some can't, either because the choice is unavailable, or they have signed the option away.
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Monday - November 24, 2008
Richard Owen doesn't have the title "consumer advocate" on his business cards. But as chief executive of Satmetrix, a San Mateo, Calif., company that measures customer feedback, Owen says he helps clients build their businesses by making customers happy. With an economic downturn looming, Owen says, more companies may be tempted to lower costs by cutting back on customer service, or to boost revenue by adding on fees.
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Saturday - November 22, 2008
In spite of the rocky economy, customer satisfaction as measured by the University of Michigan had a modest 0.1 percent drop in the third quarter. The American Customer Service Satisfaction Index now has a score of 75 on a 100-point scale for the nondurable goods sector, which includes apparel, athletic shoes, breweries, cigarettes, food manufacturing, pet food, personal care and cleaning products and soft drinks.
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Saturday - November 22, 2008
Marketers often ignore a critical measurement -- customer attitudes and emotions -- when examining customer behavior. This critical measurement can hold the key to insights that can drive the best kind of marketing -- presenting the right message and offer to the right people at the right time.
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Wednesday - November 19, 2008
It was just a matter of time before businesses started to respond to the financial meltdown with some creativity, and as usual, the biggest advantages will go to the early movers. I have been noodling on several convergent ideas recently, and they seem to be taking shape in the marketplace, but in some quarters where you might not expect innovation or creativity. Exhibit one is the return of layaway in retail.
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Wednesday - November 19, 2008
Jeff Stiefler, Chairman of TouchCommerce, is a former president of American Express and CEO of IDS Financial Services. He also was the CEO of banking outsourcer Digital Insight, now part of Intuit. Stiefler spoke recently with ECT News Network interviewer Blake Glenn about technology and the economy.
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