No one wants to buy from a brand that doesn’t give them good service, but when online shopping, the expectations we all hold are different to those we have when buying something in person. But what do we really expect from businesses selling online, and what are our deal-breakers? Feefo surveyed over 2,000 UK shoppers to really drill down.
26% of online shoppers rank the helpfulness of staff as a key factor in their decision-making process – which is a large amount when you consider how little you usually would interact with brand staff when purchasing through an online shop! However, 80% of those surveyed admitted to using FAQs (Frequently Asked Questions) pages to answer any queries they had, but 53% didn’t find them all that helpful; they said not being able to find the information they needed was their most common online shopping frustration.
When it comes to having to communicate directly with a brand when about to make, making or after having made an online purchase, 43% of shoppers like to do so through e-mail; rising to 70% post-purchase. This is likely due to the speed in which an email can be written and sent, even if not answered right away (although most businesses do have automated responses in place as a basic measure). No matter how we get in touch with them though, we can all agree on one thing – we don’t like talking on the phone! Being passed around a call centre was rated the most annoying customer service gripe with 30% of the vote, closely followed by automated voice systems answering instead of or before real people with 21%. We’ve all been there, and we can all relate!
No matter how customers get in touch with online businesses though, all want a swift and helpful response: with 3 in 10 expecting a response in ten minutes or less, no matter which channel they’ve used to make contact. It seems the age of social media and rapid scrolling really has come to fruition – it’s just what we’re all now used to.
Of course, if we receive poor customer service, chances are, we’ll talk about it. Independent review websites fared well in the survey: with 64% of those interviewed having trust in them. That said, online shoppers were found to be 49% more likely to trust closed review platforms (that is, where only verified customers can leave reviews) over open review platforms – which makes sense, as they’re less open to abuse.
Whatever the statistics and surveys say, it’s clear: we all want great service, even if we don’t always receive it.
The infographic below shows all the results from the survey:
7 Signs Your Business Face Financial Trouble
Within the last few decades, many companies, from high-profile mainstays to small local businesses, have fallen by the wayside. While some of those closures, administrations, and liquidations come seemingly out of the blue, there are somewhere in actuality the warning signs for the business were there before the final nail was driven in.
Listed below are seven key signs your business is in financial trouble.
Your Cash Flow Is Imbalanced
As the word goes, running a business, “cash is king.” An easy cash flow, where enough arrives to cover your outgoings, is key to keeping your organization operating. However, this flow could be sensitive, especially in small businesses. A supplier or customer perhaps not spending punctually may impact your cash flow, as may premature expansion or overspending in times wherever in actuality the going is good.
Negative cash flow is appropriate in the temporary while a fledgling company sees its legs or in the aftermath of an important expansion. But without positive cash flow, in the future, a small business cannot pay its costs and thus cannot survive. If your fund office is postponing spending its costs or team, it may indicate imbalanced cash flow.
Creditor Pressure Is Growing
The best way to help keep your creditors happy and minimize the pressure on your own company’s shoulders is to cover them on time. If your outgoings outnumber your income, it’s tempting to delay spending invoices. But doing this is just a sure-fire treatment for sour relationships along with your creditors, who may start chasing you for payment.
This may start the slippery slope into further trouble, as they’re likely to carry on chasing you until your debts are paid off. Creditors could even resort to legal action in an endeavor to retrieve their money, and you might wind up facing bailiff action.
You’re Always Refinancing
Refinancing alone isn’t an indication of financial trouble; it is a legitimate way of freeing up cash tied up in company assets by borrowing money secured against an assets’value. It can be used to lessen rates. While refinancing once isn’t abnormal, the business must manage to afford the repayments. If it occurs usually, it could be a sign of higher financial problems, and lenders may become cautious of companies continually refinancing, which may lead to more economic troubles later.
Until you are the main trader, staff are one of the very most vital the different parts of your organization, and employee morale often correlates along with your company’s health. One of the very obvious signs of financial trouble linked to staffing is layoffs and cutbacks in employee benefits, bonuses, or even a pay freeze.
The business could also change its contracts with staff, reduce hours, introduce zero-hour contracts or make staff work more for the same money. Doing so risks souring relationships along with your personnel and could cause to another location point.
Bad Company Atmosphere
Reducing advantages while increasing objectives on personnel will likely result in a bad environment and a drop in work satisfaction. Work can become less of a place of work and more of a place for fighting fires, constantly coping with problems instead of being productive. Team may lock onto that downturn and modify the atmosphere and start causing higher figures, too, taking people back to the last position about staffing issues.
Counting on Individual Contracts or Projects to ‘Sort It Out.’
Whenever a small business is operating healthily, it will have many clients or customers on the books with consistent income. Businesses in a less healthy position might put more weight on the agreements they do have. If one improvements company or stops being fully a regular source of business, the consequences will have an even more detrimental impact.
You could notice the company is relying more on fewer clients or focusing all of its efforts on acquiring new ones to the detriment of those they already have. This could sour relationships with existing customers and be described as a sign the directors are desperate for income.
Your Customers Have Noticed
Clients are very good at spotting when things change, and if they feel they’re getting less while paying the same money, they’re unlikely to stay quiet. If your employees are unhappy, prices suddenly rise, or benefits such as loyalty programs are scale back, rumors may start circulating, customers may start asking whether you’re closing, and in the worst-case scenario, it could get found by local or national media.