The festive holiday shopping season is already in full swing and FedEx Express (FedEx), and one of the world’s largest transportation companies, is going all-in to help shoppers and shippers spread seasonal joy at this special time of the year.

   E-commerce continues to grow its share of retail spending. According to FedEx research, 80% of consumers in the Asia Pacific, Middle East and Africa (AMEA) region have increased their e-commerce spending in the last three years and over 70% think it will continue to grow in the next three years.¹ This year, e-commerce events like Black Friday and Cyber Monday which signal the final countdown to Christmas, continue to make a difference to consumers. In fact, many would like even more online shopping festivals.² To make the most of the season, e-tailers are looking to boost their effectiveness and are innovating their services through personalized customer offers such as online “shoppertainment” and new payment options to attract visitors and clicks. Furthermore, 87% of e-merchants seek additional support from logistics providers to support these seasonal events.³

       “In AMEA, the gifting season continues in the months leading up to Christmas through to Lunar New Year. Along with consumers’ intent to do more online shopping during the festive season,² e-tailers, especially small and medium-sized businesses, are gearing up their efforts to deliver the best customer experience possible to stay competitive,” said Kawal Preet, president of the Asia Pacific, Middle East and Africa (AMEA) at FedEx Express. “As delivery is a crucial part of customer experience, we’re committed to providing businesses and shoppers with a wide range of easy-to-use solutions to make holiday shipping as easy as possible.” 

FedEx has flexible delivery options to give both businesses and consumers confidence through this busy season. These include:

• Competitive Delivery Speed and Great value: FedEx® International Connect Plus (FICP) is an international e-commerce shipping service that combines competitive delivery speed with attractive prices ensuring most shipments will be delivered within 1 to 3 business days* within AMEA**. For those super urgent last minute shipments FedEx International Priority® Express is available providing delivery by 10.30am or noon for select markets in Asia^‡, United States, Canada and Europe.
• Convenience and control: FedEx® Delivery Manager International gives consumers options on where and when their residential shipments are delivered. The service has recently been enhanced to include delivery notifications and personalized options now available on WhatsApp^†. The date and location of delivery can even be changed once the shipment is in progress so you can manage your deliveries when you are on the go.

• Peace of mind: All FedEx shipments are trackable as they pass through our network. But the ultimate assurance comes with Picture Proof of Delivery which provides customers with peace of mind when they receive a photo confirmation that their shipments have arrived to their door^††.  

• Seamless Integration: FedEx is integrating its services with e-commerce marketplaces to generate FedEx shipping labels and access features like Express Shipping Services and International Shipping Documentation Service, without leaving the platforms. Easy-to-use, friction-free services like these are important timesavers for e-commerce merchants during the holidays when order books are filling up. They also make a difference to end consumers in helping to ensure their expectations are met.

• Becoming more sustainable: FedEx is following a multi-track path to reduce carbon emissions in the delivery cycle with a goal of achieving carbon neutral global operations by 2040. This includes investing in electric vehicles for last mile deliveries, and enhancing digital solutions. Additionally, FedEx is implementing solutions like reusable packaging to help reduce waste in the shipping process.

Whether you are managing your business or managing your kids‘ wish list, FedEx is standing by to help everyone this holiday season so you can shop and ship with confidence and spend more time with the people that matter.

Over a third of Australian consumers (38%, the highest globally) agreed a great customer experience critical to retaining their loyalty during the cost of living crisis. That’s according to the latest data from Shopify, which also found social commerce emerging as a leading channel to deliver this experience, as almost three quarters (73%) of Aussies will continue or increase shopping via social media, while nearly a third of Australian businesses (31%) believe that sales through social media will form the largest part of their business by the end of the decade, sitting above global average.

Ahead of the 2022 Black Friday Cyber Monday (BFCM) weekend — an event that last year saw more than 47 million shoppers buying from brands powered by Shopify in 2021 — Shopify surveyed 4,000 consumers and 500 businesses across Australia and New Zealand (ANZ) to learn how the changing economic environment has influenced consumer spending preferences this year, and what retailers are aiming for this holiday season.

“With countless sales channels from social, to bricks and mortar and online, retailers need to take a varied approach if they want to connect to their consumers,” said Shaun Broughton, Managing Director, APAC and Japan, Shopify. “One thing is clear – shoppers and brands alike still need to make important, meaningful connections over the holiday spending spree and beyond. For retailers to thrive, building trust and encouraging creativity are the keys to unlock consumers everywhere they shop.”

“Building and maintaining a strong relationship with our customers is a huge priority for us at July. We devote a significant amount of time and resources investing in our overall customer experience — both online and in store — and continue this even well beyond the purchase date. Our customers have become our best marketers,” said Zhoe Low, General Manager at Australian luggage brand July. “Social media is a huge part of this, as we know our customers are avid users of Facebook and Instagram, and they conduct extensive research prior to their trips. They are educated, considered, thoughtful, and willing to do the research to ensure their luggage purchases are appropriate for their needs and on trend – so we have to ensure we meet them there.”

The findings reveal:

Aussie loyalty is up for grabs if cost-savings can be made, but customer experience critical

• Australian consumers’ loyalty is more tied to customer experience than any other market surveyed, with 38% of consumers saying a great customer experience is essential to retaining their loyalty during the cost of living crisis
• It’s no surprise then, that SMBs across Australia intend to focus their energies for the year ahead on iImproving customer experience (39%) and building their customer base / relationships (41%) 
• Australian retailers (91%) are also the biggest believers that building a community around your brand is crucial to maintaining customer loyalty

Consumers are open to new experiences and more willing to shop via social channels

• Nearly a third of Australian businesses (31%) believe that sales through social media will form the largest part of their business by the end of the decade, above the global average
• Consumers are open to change and will shop across all surfaces:
  • 90% consumers say they will continue to make purchases via an online store
  • 73% will continue to shop on social media or dial up purchases
• Businesses are open minded about ways to connect and deliver value to consumers during this time with 83% saying they’re exploring creative ways to help consumers (e.g. through improving customer experience)
  

Embracing new ways to sell – but high-street remains on hiatus

• Three quarters (79%) of businesses in the region say that selling direct-to-consumer via an online store/mobile app is either the same or more important for business compared to a year ago.
• Despite 89% consumers purchasing the same or more in store as a year ago, Australian businesses were by far the most likely of all polled (just 19% versus 30% globally) to say that physical stores have become less important to their bottom line over the last 12 months.
• Around two fifths (41%) of businesses in ANZ said reaching consumers organically, via word of mouth or social media, was more important than ever, while two fifths (39%) of shoppers said that shopping online was one of the top ways they discovered new products to buy

Having a direct relationship with consumers is more important than ever

• 92% of Australian merchants agree that having a direct relationship with consumers has never been more important
• Knowing that consumers are open to change, and that D2C is key, businesses have a window of opportunity to connect with consumers and secure their attention. In fact, almost two thirds (64%) of consumers in Australia said that how brands communicate with them about BFCM offers is important in determining if they will buy from them.
• Knowing that consumers want to spend but are researching more, brands should engage prospective shoppers ahead of time so they don’t miss out.

About the study

Online survey conducted by Sapio Research, on behalf of Shopify, among 24,009 consumers and 9,012 businesses (under 1,000 employees) across the UK, France, Germany, Spain, Italy, Netherlands, Sweden, Australia, New Zealand, Japan, US and Canada. The survey took place between September and October 2022

Much of the focus of this year’s unprecedented levels of inflation has been on the impact to households. However, new research reveals that 72 per cent of small businesses – who have survived through the pandemic – have also been hit by rising expenses this year. Supplier costs, petrol and labour came out on top as the costs that SMEs are struggling with the most, and SMEs predict they will struggle with these same costs next year.

The finding was derived from a survey of an independent panel of 210 Australian SME owners and decision makers, commissioned by Small Business Loans Australia, a comparison website helping business owners find the best financing and loan options in Australia. The respondent pool comprised 44 per cent of micro businesses (1-10 employees), 27 per cent of small businesses (11-50 employees), 18 per cent of medium-sized businesses (51-200 employees) and 11 per cent of large businesses (over 200 employees). The full survey results, including breakdowns across business sizes and States, can be found here: smallbusinessloansaustralia.com/resources/loan-to-cope-high-inflation-survey.html

Respondents were asked which, out of the below 10 costs, they are struggling to meet the most now, and will struggle with next year: 

• Labour 
• Supplier costs 
• Petrol 
• Equipment purchases 
• Rent 
• Insurance premiums 
• Office and staff amenities 
• Utilities  
• Business consultants 
• Taxes 

Nearly one in three (31 per cent) SMEs are struggling with the supplier and petrol costs, and 26 per cent cannot pay wages, salaries and contractors. Next, 21 per cent are finding it hard to pay rent, 19 per cent equipment, an equal 17 per cent cannot meet the costs of insurance and tax. Ten (10) per cent cannot meet the cost of office and staff amenities and 8 per cent with business consultants such as HR or accounting. 

Small Business Loans Australia analysed responses across business sizes. Micro businesses predicted they will be better off in meeting expenses across all categories than small and medium-sized businesses: just 66 per cent of micro businesses are struggling with costs and will continue to do so, compared with 15 per cent of small and medium-sized businesses. 

The costs impacting small and medium-sized businesses most are supplier costs (for 46 per cent of small and 34 per cent of medium-sized businesses) and petrol (for 39 per cent and 40 per cent respectively).

Responses were also analysed across the major States. West Australian businesses indicated they are struggling to meet inflated supplier costs, labour costs and petrol prices above any other state. Following 38 per cent of West Australian SMEs who are most likely to struggle paying labour costs, 27 per cent of South Australian businesses, 26 per cent of NSW businesses, 23 per cent of Victorian businesses and 20 per cent of Queensland businesses will also struggle in this category.

Inflated rent is a significant issue among South Australian and NSW SMEs, with 27 per cent and 26 per cent, respectively, struggling to meet this cost. This is followed by just 16 per cent of Victorian and Queensland businesses and 14 per cent of West Australian businesses.

Small Business Loans Australia asked businesses if they would seek financing to cover any of the costs they are struggling with. Over half (54 per cent) said they would look to get a loan to help relieve the financial stress of inflation, with more than a quarter (28 per cent) prepared to take out more than $50,000.

Micro businesses proved again their financial stability, as the least likely group to require a loan, chosen by 32 per cent, compared with 66 per cent of medium-sized businesses and three quarters (75 per cent) of small businesses.

More than a third (37 per cent) of small businesses would consider borrowing more than $50,000 to meet inflated costs, while 8 per cent of micro businesses would borrow the same. 

Alon Rajic, Founder and Managing Director of Small Business Loans Australia, says: “SMEs have shown incredible resilience through the pandemic and are now facing unprecedented inflation. Like Australian households, businesses have been hit by significant increases on the everyday costs of running their operations. SMEs are the backbone of the Australian economy, making up 98 per cent of the business market, but the tightening of budgets often have greater impact on SMEs, which tend to have smaller financial cushioning than bigger corporations.

“If SMEs decide they need financing to get through the challenging period ahead, it is important for them to seek financial advice and research financing options to ensure they are in a position to service a loan over the next few years, and secure the most cost-effective and lowest-risk loan. A loan comparison platform may be a good place to start.”

The full survey results, including breakdowns across business sizes and States, can be found here: smallbusinessloansaustralia.com/resources/loan-to-cope-high-inflation-survey.html 

Australia’s National Centre for Asia Capability is cautioning small and medium-sized businesses, they need to be as Asia-capable as big business in order to thrive in the challenging Chinese economy, with SMEs accounting for 88 per cent of all Australian companies.

A new report, ’Risk and Reward: Opportunities for Australian SMEs in China’, released today by Asialink Business has found Australian SMEs adopting innovative approaches are still achieving success.

“Australian SMEs are still achieving outcomes from China, based on prevailing consumer demand. Consumers recognise quality when they see it. Savvy Australian companies leveraging this demand have adapted their strategies and operating models to find success,” Asialink Business CEO Leigh Howard said.

“While Aussie SMEs don’t have the resources of big business when operating overseas, with innovative approaches many are achieving sustained growth,” said Howard.

“While it’s true big international brands are popular in China, interest in smaller overseas brands with unique offerings has taken off, with small and medium-sized producers of distinctive products leveraging the high regard international consumers have for Australia as a producer of safe, clean, and high-quality products.”

While political tensions, rising freight costs, and travel restrictions present ongoing challenges – overcoming local market competition and playing to a clear niche are increasingly important.

The report shared the hard-won experience of 11 Australian businesses selling into China throughout the pandemic era, across food, fashion, health, and skin care sectors.

“This report shines a light on the innovative approaches these Australian businesses are using to succeed in the region.”

“Covid has largely reset the playing field and we are seeing Australian SMEs experiencing success amid a rise in the number of affluent consumers across Asia. Companies in the skin care, healthcare, food and fashion sectors are some of the best performers, despite supply-chain issues” Howard said.

In the past, many Australian consumer brands were introduced to the China market by “daigou” traders – Chinese students or tourists in Australia who buy up goods at retail or factory outlets and take them back to China for resale. 

COVID-19 dramatically reduced this traffic. But the growing use of e-commerce channels to bring foreign goods into China has picked up the slack.

“The growth of e-commerce has created new digital marketing opportunities for Australian businesses to shape their brand.”

There is growing diversification and interest in new markets such as Southeast Asia and India, however, China remains Australia’s largest export destination and the biggest consumer market in the world. 

“It has also become a more complex market for Australian businesses to trade, since restrictions were imposed on a range of imports, including barley, wine, seafood, beef and coal.”

“Australian SMEs operating in China need to conduct regular risk assessments to ensure they are comfortable with their short and long-term risk exposure.”

“Trade analysis and reporting frequently focus on key commodity sectors and how some of Australia’s largest companies have navigated this complex landscape. But the experience of SMEs has been largely flying under the radar,” Howard said.

Howard said to remain competitive in China, Australian businesses will need to keep pace with rapid changes in consumer preferences and expectations for speed, variety, and service when shopping.

A new survey shows more than half of Australian small business owners suspect one of their staff members is experiencing domestic violence.

The joint research by Domestic Violence NSW and My Business has been released to coincide with White Ribbon Day and shows 54.8% of small business owners suspected or observed one of their colleagues was experiencing domestic or family violence.

Controlling behaviour and emotional abuse topped the list followed by verbal threats and physical violence.

“We know domestic violence is a scourge on Australian society and this shows its huge impact in the workplace too,” says Phil Parisis, General Manager of Product and Sales at My Business, Australia’s largest business organisation.

“Worryingly, almost one in three business leaders didn’t consider themselves to be well equipped to help a domestic violence victim in the workplace or to manage the negative impact on the organisation itself,” says Mr Parisis.

“Given the statistics, it is likely there is someone you are working with that has been impacted by this abuse. Businesses have an important role to play in the response to domestic and family violence (DFV) and this means providing safe and respectful workplaces, promoting policies that contribute to gender equity, providing information and support to staff, and flexibility for staff experiencing DFV so they can remain engaged in the workplace. This should also include helping to provide dignity and financial independence to victim-survivors,” says Domestic Violence NSW CEO Delia Donovan.

“The survey also canvassed the impact domestic violence has on businesses as a whole with more than 40% of respondents indicating they’ve lost money because of it,” says Mr Parisis.

 “The My Business survey highlights how crucial it is to equip managers, HR departments and, most importantly, staff, in safely responding to domestic and family violence disclosures. It’s also vital businesses have the right policies and practices to support victim-survivors. This is especially important with the introduction of 10 days paid leave next year where these conversations may increase,” says Ms Donovan.

“Together as a community, as businesses and as individuals we can provide support, reduce stigma and open the space for victim-survivors to feel safe to speak up,” she says.

1 in 4 Australian women have experienced domestic or family violence and on average one woman a week is murdered by her current or former partner, but the survey shows more needs to be done when it comes to workplace education and having support programs in place for victims.

“My Business is committed to working with Domestic Violence NSW to support more businesses and equip them with the tools, resources and confidence to be able to respond to these issues,” he says.

A 2016 report* found DFV costs the business sector $1.9 billion a year in absenteeism and administrative costs.

“This survey shows it’s not just an issue that relates to the home, this is a workplace issue too. If a person is living with a DFV issue it will continue to impact them when they go to work,” says Mr Parisis.

The survey canvassed 400 business owners online during March and April 2022.

Domestic Violence NSW recommends the following 9 steps for employers to help victims/survivors:

1. Provide a safe workplace that promotes respect and gender equity
2. Provide opportunities for employees to disclose their experience of domestic and family violence and seek support, if they choose to.
3. Avoid pressuring employees to talk about domestic and family violence if they do not want to 
4. Provide information for employees on where they can obtain help
5. Protect the privacy of employees experiencing domestic and family violence
6. Be flexible to support people experiencing violence to maintain their employment
7. Recognise how difficult it can be for victims/survivors to leave an abusive relationship
8. Recognise that the period leading up to and after a victim/survivor leaves can be the riskiest in terms of their safety
9. Proactively learn about domestic and family violence, share information with employees and contribute to efforts to prevent violence and increase gender equity.

Source: Domestic and Family Violence in the Workplace, November 2022, conducted by My Business & Domestic Violence NSW.

*2016 KPMG Report – Cost of Violence Against Women and Their Children in Australia 

Australians now have access to on-the-go offices with the first of their kind ‘TaskPod’ being rolled out at busy shopping centres, airports and transport hubs across the country.

“Up until now flexible working has involved having meetings and video calls hunched over café tables or even from your car. We want to make it better for people to manage working from anywhere,” says TaskPod co-founder Adam Morgan.

Ten TaskPods have already been installed across the country including at Adelaide Airport, Perth Airport and at Sydney’s World Square and Pitt Street Mall with another 25 to be rolled out in the next 4 months, including at Westfield shopping centres and at train stations.

The modular orange and white office pods are soundproof and contain a desk and chair, access to secure WiFi, USB charging port and power points. Some have AV screens and the larger models contain a table and seating for up to 4 people.

“We’ve designed TaskPods to be like stepping stones for hybrid workers so they can jump in and out of work wherever they may be,” says Mr Morgan.

“We’re rolling them out at shopping centres and major transport hubs including airports and train stations. Anywhere where people might be passing through and urgently need to take a call or jump onto a meeting.” 

“Our next rollout phase will include hospitals, corporate foyers and other public spaces,” he adds.

The last Census survey showed more than 2.5 million Australians were working from home and even post-pandemic that trend is continuing with many choosing to continue their hybrid working and market leaders such as Google, Atlassian and Facebook embracing a flexible work model for employees.

The TaskPods are easily located and accessed via an app – users can book them ahead of schedule or straight away. The space costs $15 an hour and can be booked in 15 minute increments. People either pay for them individually or access their subscription through a company account.

Companies already offering a subscription to their employees include Price Waterhouse Coopers, the Royal Automobile Association and Shiels Jewellers.

TaskPod is the brainchild of entrepreneurs Adam Morgan and Tyson Gundersen who also founded Australian modular office solutions company Bureau Booths.

The pair met while working at KPMG in London. 

Mr Gundersen came up with the idea for the TaskPod while running late for a meeting. 

“I was stuck in traffic one day travelling between a daycare drop off and work and was running late for a meeting and thought wouldn’t it be great if I had a quiet space I could access mid-route to make my calls,” says Mr Gundersen.

“We think of it like a micro-office on the go or even a place to meet clients when you’re travelling around.”

“We’ve even got students who log into university lectures in them and others using them as a space to meditate,” he says.

Sites where TaskPod are in the process of being installed  –

NSW

• Westfield Parramatta
• Westfield Pitt Street
• Westfield Bondi Junction
• Westfield Miranda

Victoria

• 206 Bourke Street, Melbourne 
• South Melbourne Central
• The Glen, Glen Waverley

Social media moves fast, and to remain competitive in what will be a defining year to come, brands need a complete view of the emerging trends set to shape the social landscape in 2023. Bridging this gap, Hootsuite is has announced the launch of its seventh annual Social Trends Report, providing a deep dive into the industry behaviours guiding brands’ marketing and social strategies this year including the Top Social Media Marketing Trends for 2023.

At the time that last year’s Social Trends Report was released, pandemic restrictions were starting to ease and markets were booming – a positive turn of events that had many feeling optimistic for the future. However, looking ahead into 2023, a looming recession, rising inflation, declining consumer spending, and workforce reductions across major business sectors have made decision making precarious for businesses of all sizes. Despite this uncertainty, Hootsuite’s report shows that there is good news on the horizon.

Social marketers are experiencing a defining moment in history for the industry. After decades of advocating for social to have a seat at the boardroom table, it’s finally happening – social marketers are getting more agency over their work, and social media marketing has matured as a profession.

“Social media has never played a more central role to businesses. As businesses continue to look for ways to future-proof operations and connect with today’s tech-savvy customers, social media and digital marketing will inevitably play a part in nearly every business strategy,” said Maggie Lower, Chief Marketing Officer, Hootsuite. “In 2023, businesses that take a social-first approach to their brand and customer care strategy will be the ones to reap the benefits. Stronger brand reputation, greater customer interaction, trust and loyalty – now and in the future – depends on it.”

Leveraging surveys from over 10,600 marketers and primary interviews with dozens of social marketing practitioners, leaders, observers and partners, we found compelling insights spanning the social ecosystem – from social marketing and care to social commerce.

Top Social Media Marketing Trends for 2023

● Big brands are investing less in influencer marketing, opening the door for small businesses to engage top creators (at lower price points!)

● Social’s newfound exposure in the C-suite opens it up to new levels of scrutiny – with differing opinions on what ROI looks like among social marketers and senior leaders

● Recycling content becomes a thing of the past; marketers stop chasing new features and start getting more strategic, creating more creative, unique content for fewer platforms

● Social commerce loses traction with platform pull back, but is only a loss to those that follow

suit; marketers with the patience to hold on see new opportunities to gain a competitive edge

● Google, who? Social search optimisation emerges as a make-or-break skill for marketers

● The return to brick-and-mortar shopping makes businesses lose focus on digital customer service – opening the door for chatbot adopters to gain a massive advantage

● Marketers don’t feel equipped for digital customer service, and the implications of unanswered DMs are further reaching than one might think

Social has become intrinsically intertwined with how people live, work, operate, and shop — with more than 4.7 billion people around the globe now using social media. While keeping up with all the evolving trends can be intimidating, Hootsuite’s Social Trends Report offers marketers a guide to the wild world of social — complete with simple, specific recommendations — to help them gain an edge on their social strategy in 2023 and build community and connection with their customers.

“In a year marked by global economic and social upheaval, brands and organisations are looking for tools to help navigate their business through the noise to connect with their customers — and with even more urgency as we all become more digital and connected,” said Tom Keiser, Chief Executive Officer, Hootsuite. “With the launch of our 2023 Trends Report, we’re proud to provide our insights, recommendations and tangible recommendations to help organisations not only successfully navigate the digital wilderness, but also adapt to new buyer trends, find new ways to support their customers, and identify new paths for growth.”

To help our customers put the top social trends into action in real-time, we have paired each trend within the report with newly-created resources that social media marketers can build into their strategy and begin using today. The suite of resources developed to support this report include:

● Social Marketing

○ Creator Brief Template for Small Businesses, helping social marketers to align goals and deliverables with the creators they are engaging, while at the same time including clauses that ensure a mutually beneficial partnership.

○ Social Media Report Template, complete with a success snapshot, data tracking, results and analysis to show social’s ROI to senior leaders.

○ Social Media Audit Template, designed to help social marketers evaluate their current social media efforts and help inform their strategy for the new year.

● Social Commerce

○ Getting Started with Social Commerce Guide, breaking down the three simple steps required to start turning a brands’ social followers into paying customers

○ Social Post SEO Checklist Template, providing a list of tips to check off the list when developing social posts to ensure SEO is optimised

● Social Customer Care

○ Facebook Messenger for Customer Care Guide with everything brands need to know to build stronger relationships with their customers across messaging platforms like Facebook Messenger

○ Essential Direct Messaging Replies Template – a templated list of DM responses to enhance the social customer care experience, eliminating the need for our customers to think about how to respond next

Get the complete analysis, brand examples, and strategies for 2023 in the full report.

With the increase in customer expectations and competition, standing out and differentiating your business, products and services will keep you ahead of the game – and the key to unlocking that potential is found in customer feedback. I have learnt this first-hand.

Customer feedback is a crucial tool for a small business owner that can provide pivotal insights into all aspects of their company. The intel can help shape business models, instigate innovation, services and product developments, cut marketing costs and most importantly, highlight missed opportunities.

At Stepz Fitness, a rapidly growing, 24/7 fitness chain, customer satisfaction is so important to us and our business model, that being customer-focused is one of our core values. We absolutely live and breathe it. Bucking industry trends and giving customers what they want, when they need it has led the business to claim a dominant stake in the Australian fitness landscape – currently ranked among the top 10 gym franchises in Australia – and led to national expansion.

Customer feedback is such a tricky thing in business. The big question here is what, when and how does a business adapt to customer feedback and expectations and when do they stay the course? There are plenty of scenarios for you to leverage customer feedback into profit-building opportunities.

Open channels of communication and customer feedback

What we know is that 67% of customers list having a poor experience as their reason for leaving them and 91% of customers who have had a bad experience leave without even giving any feedback. Have clear feedback mechanisms that give your customers a voice, allow you to find trends and relevance to make changes. Keep transparent communication consistent across multiple channels to allow you to have direct interactions with your customers so they feel valued, appreciated and heard.

Brand reputation

Each time a dissatisfied customer expresses their disappointment, you can immediately react and find a solution to fix an issue – whether the solution can be fixed now or in the future, it all counts. This is a perfect moment to win a client back and even increase their level of loyalty and build your business’s reputation, ultimately working to increase positive word of mouth – the most powerful, authentic marketing tool. Having devoted brand ambassadors is gold your company needs to grow.

Customer retention

On average, Stepz members stay with us for 18+ months versus the industry average of 9 months. Client retention is a significant metric for you to consider as it reduces your need to continuously fill the emptying funnel, and provides long-term financial stability. High customer satisfaction leads to higher rates of customer retention, subsequent purchases, higher profits and increased growth.

Put your customers in the center of your business and treat their feedback as the most valuable source for information in your company. They are the ones who use your products and services, and know best what could be improved to make the experience better. Understand the best way for your company to collect customer feedback and never ignore their voices. It is priceless so never stop listening. You’ll see the results in your bottom line.

Stepz Fitness National Franchisor, Samuel Waller

Australia’s largest business organisation My Business, with over 90,000 members, has launched a new one stop shop for small business owners looking to take the guesswork out of HR and help stop paperwork mistakes.

The new offering, My Business Workplace, helps SMEs manage all stages of employment – from recruitment, managing employees and paying staff, through to termination and redundancies.

“Small business owners are used to being a jack of all trades but it’s difficult to be an expert in something as serious as workplace law,” says My Business General Manager of Product and Sales Phil Parisis.

“A recent survey* of our members found that almost a quarter are spending the equivalent of 2 days a week on paperwork. That’s a lot of time that could be spent either doing what they love or growing their business.”

“More worryingly, 60% admitted they’ve made paperwork mistakes when doing their own workplace paperwork and documentation,” says Mr Parisis.

“Australia is the most heavily regulated country in the world when it comes to workplace law so it’s no wonder business owners are confused,” he adds.

Workplace provides a wide range of advice and documents including:

• Legally compliant documentation such as employment contracts, policies and notices prepared by a leading employment law firm
• Guides and checklists for staff onboarding, termination and redundancy
• Access to the Workplace advice helpline to speak with an HR expert for tailored advice

“The workplace product is designed to remove the price barrier that often stops SME owners from seeking legal advice.”

“We know that employment contracts are the number one workplace topic people search for – specifically rules surrounding resignation, redundancy and flexible working.”

“Unfortunately, the rules and regulations surrounding workplaces are not always black and white, they’re often quite a few shades of grey. My Business Workplace is about making it easier for SME owners to understand their requirements and breaks down the process into easy to follow steps,” says Mr Parisis.

The My Business Workplace software is available to businesses from sole traders hiring for the first time to those with 200+ employees. Subscriptions start from $85 a month.

*Survey Source: ‘Recipe for Success Survey’ conducted by My Business & Pure Profile – August 2022Howard