Connect with us

Company Posts

Why Your Latest Tech Investment Might Not Be Wowing Your Customers

You’ve got chatbots running your customer service, interactive screens across your stores and you’ve just appointed a chief digital officer. Why aren’t you seeing sales going through the roof?

PwC

Published

on

Connecting to customers with technology

You might have seen that customers don’t respond to disruption. PwC partner Quinton Pienaar says there could be many reasons for this. But the short answer is probably that in your understandable rush to stay relevant and keep up with the latest technology trends and developments, you lost sight of your number one priority. You’re just not that into your customers – and they know it.

It’s fairly easy to get dazzled by the array of technologies out there. But the trap that you’ve got to guard against is that you start seeing the world through a technology lens, rather than a customer one. Remember, technology is a tool, not an outcome. It’s the means to the end, not the end itself.

1. Invest in the right technology for your business

That’s not to say you shouldn’t be transforming your business digitally. You absolutely should.

But there’s a big difference between investing in technology to keep up with the Joneses, and investing in technology that’s going to drive specific business outcomes and improve the customer experience.

In fact, it would be downright dangerous to ignore the game-changing benefits that the current wave of emerging technologies brings to the table.

Related: PwC Focus On Sugar Tax

To understand what they can do for your business, you have to know what they are. We at PwC talk about the ‘essential eight’:

  • The Internet of Things (IoT) and Artificial Intelligence (AI) are the building blocks for the next generation of digital work.
  • Robotics, drones, and 3-D printing are all about machines that extend the reach of computing power into the material world.
  • Augmented reality (AR) and virtual reality (VR) merge the physical and digital realms, and offer incredible advances in customer experience.
  • Blockchain rethinks our approach to commercial transactions by allowing participants to exchange value, and verify ownership of something, without a third party.

2. How to support customer engagement

Some of these technologies are verging on science fiction. So how do we use them in a way that supports customer obsession?

The starting point of any successful customer transformation is a customer-focused design that brings together three essential elements – business strategy, customer experience and technology – into a coherent, fully-fledged digital strategy.

In other words, today’s most successful companies have a strategy that is focused around a simple and regularly-updated list of priorities.

Related: Reimagine The Use Of Technology

They incorporate the new generation of technologies like IoT, blockchain and AI. But they keep their people, and their customers at the core of their business by designing strategies that directly address customers’ underlying needs and desired outcomes.

3. Why you should be focusing on the customer journey

This sounds dead obvious. But what we find is that many companies we talk to are focused on growing their revenues, or making improvements to their products and services, rather than creating better customer experiences. Or they have the strategy, but are battling to execute it effectively.

Of course, to underpin this customer transformation journey, you’re going to need some data and the foundational technologies on which today’s innovations depend – data mining and analytics, mobile, and cloud. You may also need to rethink your processes to manage, enrich and maintain data, and operationalise it throughout your business.

So you have all of that in place? Good. Now stop. Breathe. Ask yourself whether your technology and data are truly supporting an unwavering focus on the customer.

Because if you take one message from this article, let it be this: in today’s marketplace, putting your customer at the centre of your business is imperative to driving growth and profitability, winning market share and unlocking the value of your technology investments.

Related: How Economic Crime Is Impacting Business In South Africa

PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Our clients often tell us that what they value most is our strong global network, which allows us to collaborate across the world and bring knowledge and expertise from one country to the next. PwC offices across the continent operate as a single, unified PwC Africa Region.

Company Posts

3 Companies With Memorable Slogans, And How To Create Your Own

Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.

Jeff Broth

Published

on

nike-just-do-it-brand

A good slogan serves many valuable roles in business. First, it reinforces recognition of your brand. After hearing it a few times, your consumer instantly thinks of you when hearing it again. If it’s catchy enough, they may even find themselves saying or singing it in their head, reinforcing your brand even more.

Slogans also share a little bit about your company. For instance, if your slogan is funny, it says you have a sense of humor. If it contains your goal or mission, it tells the consumer what is important to you. Some slogans share the problems the company is trying to solve or the consumer its trying to help, making it easier to identify the target market.

Finally, a slogan sets you apart from your competitors. It differentiates you from all of the other companies who offer similar services to you. And if it’s memorable enough, it puts you ahead of them in your consumer’s minds.

Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.

Company #1: Nike – Just Do It

nike

Though many people use Nike’s ‘Just Do It’ slogan as a reminder that they can do amazing things if they just put their mind to it, its author, Dan Wieden, reports that this line actually has a grim beginning.

In fact, it was an idea he derived from a statement made by Gary Gilmore, a double murderer who, before being executed by a firing squad exclaimed, “Let’s do it!” Still, it has stuck in consumer’s minds and is undoubtedly one of the most memorable slogans of all time.

Related: Registering a Trademark

Company #2: Carlsberg – That Calls for a Carlsberg

Carlsberg

Initially, Carlsberg’s slogan was ‘probably the best beer in the world.’ Many consumers came to know and love this slogan; however, in 2011, the company rebranded and created a new slogan: ‘That Calls for a Carlsberg.” The goal of this new slogan, according to CEO Jorgen Buhl Rasmussen, was to encourage the consumer to do good things and then enjoy a Carlsberg after as a reward for a job well done. Both have stuck in the minds of consumers, albeit with some discrepancy as to which one is most preferred.

Company #3: Apple – Think Different

apple

Apple is a company known for thinking (and creating) outside the lines, so its ‘Think Different’ slogan fits it perfectly. According to Rob Siltanen, creative director and managing partner at the company that helped design this Apple pitch, though there are many accounts of how this slogan was created, its true inventor is Craig Tanimoto. Siltanen says that Tanimoto came up with the idea to use black and white photos of some of the most revolutionary people and events of all time and, atop each one, simply display the words ‘Think Different.’ Catchy, right?

Related: Smart Marketing Ideas For Small Businesses

How to Create Your Own Memorable Slogan

These are just three examples of how creating a memorable slogan can help your company get — and stay — in the minds of your consumer. So, how do you come up with this type of campaign?

One option is to get some of your company’s best talent together and see what slogans you can come up with. Have everyone submit one or two ideas and talk them out. See if any jump out at you and, if not, use them to inspire you to come up with even more possible ideas.

Another alternative is using a slogan generator. This enables you to come up with a simple, memorable slogan using keywords related to your brand. Just go through the list and of results and see which ones stand out. You could even pick your top two or three and let your social media followers vote as to which one you should select.

If you find yourself at a dead end and unable to come up with a memorable slogan, or if you lack the creativity or the time, you can also hire a marketing firm to help. Give them a little insight about your company and see what slogans they create. It may cost you some money to take this route but, as companies like Nike, Carlsberg, and Apple have taught us, a good slogan can really propel your brand.

Continue Reading

Company Posts

How To Choose The Right Group Risk Cover For Your Business

Your clients and business partners are likely to be your main focus when you start out as an entrepreneur. But as your venture grows into a fully operative business of scale, your employees will matter just as much. That’s why it’s important to ensure you provide adequate employee benefits, and when it comes to group risk cover, it’s becoming increasingly important to find a solution that matches the needs of everyone in the business.

Schalk Malan

Published

on

brightrock-business-risk-cover

It’s no secret that the world of work, as we know it, is changing. In a 2017 employee benefits study, US insurer MetLife found that 58% of employees surveyed “want customised benefit options based on their personal information”. And according to the same study, 73% of employees believe their employer is responsible for employees’ health and financial wellbeing. And in spite of this expectation, modern employees are unlikely to stay with the same employers for very long, because technology continues to create new opportunities.

It is within this context that it’s important for you, the business owner, to make your business as attractive as possible by offering your employees benefits that truly match their needs. Start by thinking of yourself as a custodian of their financial security. And in terms of group risk cover, the financial security not only lies in the cover itself, but in offering benefits that add real value to your employees’ financial planning – especially when you consider that it is your employees who are contributing towards their cover.

Why do you need group risk cover for your business?

Employers buy group risk cover for the people in the company to cover their future pay cheques in case something happens where they can’t work before they retire.

But this, unfortunately, is not the case with traditional group risk products, which typically offer blunt amounts of cover that is equal to, for example, three years of pay cheques for everyone in the company – irrespective of how many pay cheques they have left before retirement. As a result of this approach, younger people in the company have less cover compared to what they need, relative to their older colleagues who have fewer pay cheques left

Traditional group risk products also offer very little flexibility, leaving employees with little, or no option to buy more cover above what employers secured. They also don’t offer a choice between lump-sum or recurring payouts when members claim, or always secure the ability to take their cover with them, should they decide to leave the company.

Related: How BrightRock Is Rocking The (Industry) Boat In Only 5 Years Since Launch

So how will you know you’ve selected the right cover?

Start by asking your financial adviser to look out for a product that works out how many pay cheques each employee needs to cover, and then gives every person in the company the same level of cover in proportion to the amount of pay cheques left until retirement. By following this approach, your employees’ cover will provide more people in the company with much more cover. There already are forward-thinking group risk cover providers in the market that manage to offer up to 50% more cover by following this approach.

Secondly, ask your financial adviser if your employees will be able to buy more cover over and above what you secured. There are innovative products on the market that offer up to double the cover free of underwriting, which enables your employees to benefit from the insurability you’re providing them, and to close gaps in their insurance.

And – in the spirit of the modern world of work with a more mobile workforce – these innovative products enable employees to take the cover with them when they decide to leave your company.

It’s also important to ask your financial adviser if your employees will be able to choose between a lump sum and recurring pay-outs when they claim. Traditional group risk policies tend to expect employers to make one choice  between lump sum or recurring payouts on behalf of all of their employees when they take out the cover. Forward thinking cover providers have turned this approach on its head, offering employees the option to choose between recurring or lump sum payouts when they claim.

The importance of claims certaintly should never be understated, starting with obtaining a clear picture of the clinical conditions the group risk cover actually covers. There are new players in the market that provide extensive and transparent lists of clinical claims conditions for additional expense needs, covering more than 200 conditions.

And exactly how permanent does the insurer view a claim for a permanent condition? For example, if an employee is to be diagnosed with Stage 4 cancer, will he or she receive a 100% payout on diagnosis, without the prospect of ongoing reassessment? A needs-matched product offering would never require the reassessment of permanent expense needs claims.

In conclusion …

You wouldn’t expect your employees to work under dangerous conditions. So why would you select a group risk product that will not serve in their best interests when they need it most? That’s where needs-matched group risk cover comes to the rescue – not only for your employees, but also for your business by providing security and benefits offering real value in the modern world of work.

Continue Reading

Company Posts

We Want To Invite You To Join Us On The Hi-Q Journey And Become A Franchisee

As the leader in the tyre replacement and service industry, we are invested in providing our network with the tools needed to thrive and grow in an ever-challenging market.

HI-Q

Published

on

By

entreprenerur-franchise-digi-ad-header

Vital Stats

This is an invitation to all innovative entrepreneurs who are seeking new and exciting opportunities – here’s your chance to become part of a winning team.

As the leader in the tyre replacement and service industry, we are invested in providing our network with the tools needed to thrive and grow in an ever-challenging market.

The Hi-Q Way

  • Hi-Q’s been voted the 1 tyre retailer by South African consumers in the Ask Africa Icon Brands Survey from 2010 – 2017.
  • Over the years Hi-Q has established itself as ‘the one you can trust’, with customers, the network and suppliers.
  • Hi-Q prides itself on first-class service, a multi-product/multi-brand offering as well as ground-breaking product innovations such as TyreSurance on all tyre brands.
  • Hi-Q has an extensive network of over 130 franchisees
  • Hi-Q has the support of the Goodyear value proposition.

If you are looking to join a new franchise and you share Hi-Q’s values and vision, please get in touch.

visual-2-hi-q

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending