Do you want to drink a venti double mocha skinny chai latte? Do you even know what that is? I don’t. We found in a customer survey that 70% of shoppers were also confused by the choices (and their obscure names) on store’s café menu.
Resisting the urge to add customer choice allows shoppers to enjoy more time savouring their coffee and less time “playing coffee Cluedo”. While there may be some customers who want the complicated drink names, (it’s not that important to them) the majority would prefer simplicity.
A recent research shows that less choice more often than not leads to a lower effort service experience. When customers are faced with outcomes for a service experience, 84% chose something other than choice, a low-effort experience.
Demanding customers, fierce competition, breathtaking technological innovation, etc. These are the realities of today’s global marketplace; realities that have changed forever the way we do business, especially the way we sell.
Gone are the days when salespeople could rely on charming small-talk and aggressive closing techniques alone to generate business.
Many traditional selling approaches regard selling as something the seller does to the buyer. They sell them something. The result of this attitude to sales is that many salespeople adapt a manipulative, almost coercive style of selling.
The trend toward investing abroad has been gaining popularity since the 1990s. Companies choose to invest in foreign markets for a number of reasons:
Firms may go overseas to find new buyers for their goods and services. The top executives or owners of a company may realise that their product is unique or superior to the competition in foreign markets and seek to take advantage of this opportunity.
I’ve recently travelled to West Africa with my family. It wasn’t my first time on the continent, but having worked for the last decade in an environment dominated by investment conversation, my approach was very different than my previous trips.
My journey started in Dakar (Senegal) and took me to Gambia, Guinea-Bissau and Guinea Conakry. We decided to take the road as opposed to travel by plane to enjoy the scenery – and we were not disappointed. At times, it almost felt as if we were in a post card;
“Quality of life” has quickly become a catch-all term, but confusion over what it actually means could have serious negative consequences according to some recent research.
Once a term largely used by health-care professionals; now everyone from economists and advertising executives care about offering good “quality of life.” But what does it mean, and how can businesses, as well as physicians, help to improve it, if nobody can clearly define what it is?