Rolling with the punches! Businesses need to reinvent their products and services.

You don’t have to reinvent the wheel but you have to be flexible and reinvent yourself to change with the times or you will be left behind.  Our new normal since the advent of Covid-19 consists of conducting a lot of our transactions online.

This means that companies need to adapt so as to meet the needs of their customers. What though if they refuse to change?

Failure to change equals closed doors!

Any business that fails to change will end up losing more than just a few customers, they could lose their ability to keep the doors open.  Failure to being open to unlearn then relearn what they need to do to match up to the current situation will cost them new and old customers.

Unfortunately, people resist change due to various reasons, including fear of failure, fear of criticism, and fear of the unknown. This is the digital age, yet there are still a number of businesses who do not even have a website or offer delivery of their products as an option.

Those who are quick thinking have partnered with delivery services to accommodate their customers’ needs.

Employees’ Response

Stagnant organizations can be a significant cause of low employee morale, which affects overall performance and causes some workers to seek opportunities elsewhere.
Many employees are interested in expanding their skill sets, which they may not be able to do in a workplace that does not embrace change.

Know your customers!

It is essential that businesses, whether big or small, spend time examining the needs of their customers. If they are not meeting their needs, then they will go elsewhere.

Companies that know what their clients want and what they expect can also work on customizing the customer experience to create loyalty and repeat business. Smaller and more quick-to-respond entrepreneurs and small-business owners already have the upper hand for achieving this competitive advantage.

Simply by extending the length of your customer’s interaction will provide a greater opportunity to create a positive experience and build a strong relationship. Listen to your customer’s feedback and provide sound advice, even if you sometimes have to direct your customer to another source.

For example, there are two restaurants, both with similar food, but only one offers online payment. That small change can attract customers who might want that option.

As a business owner, it is crucial to take every advantage to outsmart your competitor, and understanding and building upon your customer knowledge and relationship will put you ahead of the game. So what’s your take on the issue? Do you think enough businesses are embracing change? Drop me a line below!

Teri Ann Renee Paisley

Gleaner online writer

Tags: business, change, customers, online