Government Sponsored Entities
Money market securities are generally issued by firms that have a very strong credit rating. This is because investors do not want their investments to be volatile when they invest in money markets. Hence, they prefer to buy securities only from companies that have a strong credit rating. The government is the most preferable issuer […]
Features of CRM
Customer Relationship Management is a strategy which is customized by an organization to manage and administrate its customers and vendors in an efficient manner for achieving excellence in business. It is primarily entangled with following features: Customers Needs- An organization can never assume what actually a customer needs. Hence it is extremely important to interview […]
The Practice of Organizational Diversity around the World
Organizational Diversity in the West The practice of organizational diversity in contemporary organizations around the world offers some insights into how the discrimination, harassment, and prejudice based on gender and other minority groups plays itself out. For instance, in the West, it is common for employees to be politically correct in their utterances and communication […]
What are Employee Training Manuals ?
Employees need to be trained on a regular basis to acquaint them with the latest developments, technologies, softwares and make them ready for unforeseen circumstances. Employee training manuals are small handbooks which are given to employees by training managers for their future reference. Employee training manual should include relevant information which would help employees enhance […]
An Introduction to Agile Business – Business Agility
Have you ever wondered how companies like Google, Facebook, Apple and Twitter reached their current status in just few years? How these companies manage to remain at the forefront of competition? What about them makes them stand apart from the rest? And why is it that they emerge out successfully amidst uncertainty and rapidly changing […]
Let us go through some social responsibilities of an organization towards its customers.
Treat your customers as kings and do not think of them only when you have a pressure to meet your targets within the stipulated time frame.
There are organizations that do not bother to touch base with their customers the whole month but are active only when they fall short of their targets and they have an appraisal in the coming month.
Understand that a customer buys your products or services only when he/she trusts your brand and most importantly believes in you. Understand the needs and requirements of your clients. Find out as to why they need a particular product and how your product would benefit them.
You need to build a strong relationship with your customers for them not only to remain your loyal clients but also bring more people along with them. It is the responsibility of the organization to give correct suggestions and feedbacks to customers.
Avoid making fake promises and commitments which you yourself know are difficult to fulfil. What is the need of selling a mobile phone with just one day battery backup when the customer has specifically asked you for a handset with at least 3 days backup?
Never lie to your customers. It is foolish to cook false stories. Trust me, you will be caught. In today’s world, where information is just a click away, everyone does his/her thorough research before purchasing something. Unnecessarily you will lose your respect in front of them.
If you can’t deliver something, please mention it clearly. They might not invest in that particular product but believe me, would definitely come back to you in near future just because you were honest and guided them correctly. It is pointless to badmouth your competitors.
Businesses dealing with customer’s money need to be extra careful with clients. Make sure their money is invested in a right way and also multiples at a rate promised to them. Do not run away with their money. It is one of the worst things you can do to your customers. It is your responsibility to take care of their hard earned money. Suggest them the right schemes and right plans as per their need.
Do not just think of your own selfish targets and incentives. This way, you will definitely meet your targets once or twice but trust me not for a very long time. The moment, the customer knows that you have cheated on him/her; your game is over. He would neither come to you again nor recommend your brand to his friends or acquaintances.
Respect your customer’s time. Do not decide the time and venue as per your availability and comfort. If the customer wants to meet you at 5 in the evening, make sure you are there on time. Neither reach too early nor too late. Do not keep your customers waiting. Do not forget that there are several options available in the market. Your loss is someone else’s gain.
Organizations tend to forget their customers once the deal is done. After sales service is essential and ensures long term growth and profits for the organization. Make sure you are in touch with your customers after the deal as well if you wish to survive the cut throat competition. Do not ignore their calls once you have sold your product. If the customer is not satisfied with your product, it is your responsibility to replace it or provide a solution.
Customer feedbacks are important and help you understand the satisfaction level of your esteemed customers and how you can make your product better in due course of time.
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