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Quality Products Do Not Guarantee Success

Every business owner should dream of offering the best product in their industry—one that’s so good it outshines the competition with its top-notch craftsmanship and unbeatable value. But having the best product isn’t enough to guarantee success. Studies show that customers are just as influenced by their experience with a…
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Balancing Quality and Convenience

It’s a fast-paced world, now more than ever. As a result, convenience often trumps a consumer’s demand for quality. Indeed, customers are increasingly willing to sacrifice at least some level of excellence in favor of greater speed or simplicity. As a small business owner, you might find the challenge of…
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Surviving the Restaurant Industry Decline

Even though most of the country has returned to normal, putting the pandemic in the rearview mirror, there’s no doubt that there is still lingering fallout from the lockdowns. One of the hardest-hit industries has been restaurants, many of which were forced to lay off most of their staff and…
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Quality, Competence, and Consistency

Do customers trust your business? Can they be confident that when they purchase something from you, they’re going to get what they expect every time? Do they know that your employees are going to do their jobs well to facilitate that experience? Every business owner wants to believe the answers…
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Shrinkflation

According to Wikipedia, shrinkflation “is the process of items shrinking in size or quantity, or even sometimes reformulating or reducing quality, while their prices remain the same or increase.” The term is relatively new, and is usually attributed to British economist Pippa Malmgren, who used it in a Twitter conversation…
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The Value of Customer Service

Returning to Shep Hyken’s Achieving Customer Amazement 2021 report this week, let’s take a look at how much consumers value quality customer service. To begin, let’s consider this number: a 52% majority of people reported that they were willing to pay more if it meant they would receive a higher…
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The Make-or-Break Ratio

We’ve often discussed the importance of delivering exceptional customer experiences every time. The Customer Experience (or CX) encompasses thoughtful customer service, a detailed sales process, and great products and services. Your business must deliver on all three consistently, whether we’re talking about at the restaurant table or the hot-tub showroom.…
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The High Cost of Cheap

Consider the age-old saying, “you get what you pay for,” and compare that to another that says, “a fool and his money are soon parted.” These are two extremes on the axis of value, where each of us has to judge whether something is worth the cost. But as we…
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Our Shared Passion

Last week, we covered how important it is to ask yourself why you’re in the business that you are, even beyond the goal of attaining financial security and providing for a family. We discussed how you’re able to derive a whole separate level of fulfillment and pride by believing in…
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