Devon Blog

Tag: community

  • Why Tech Startups Grow Faster Than Brick-and-Mortar Businesses

    In today’s fast-paced world, technology plays a pivotal role in driving business growth and innovation. Tech startups, with their focus on leveraging technology and measuring customer feedback, have gained an edge over traditional brick-and-mortar businesses. In this blog post, we will explore why tech startups tend to grow faster and highlight strategies they employ to outpace their brick-and-mortar counterparts.

    1. Embracing Technology and Innovation: Tech startups harness the power of technology to create innovative products and services that cater to the evolving needs of their customers. By utilizing cutting-edge tools and digital platforms, they can reach a wider audience, scale their operations, and drive growth at an accelerated pace. For example, companies like Uber and Airbnb disrupted the transportation and hospitality industries by leveraging mobile apps and online platforms.
    2. Measuring Customer Feedback: One key advantage tech startups have is their relentless focus on measuring customer feedback. By actively listening to their customers through surveys, interviews, and online reviews, startups gain valuable insights that shape their product development and business strategies. This iterative feedback loop allows them to refine their offerings, address pain points, and continuously improve the user experience. Successful startups like Slack and Zoom have built their products based on user feedback, resulting in widespread adoption and rapid growth.
    3. Agility and Adaptability: Tech startups thrive in dynamic market environments by embracing agility and adaptability. Unlike traditional brick-and-mortar businesses, startups can quickly pivot their strategies and offerings based on market feedback. They can experiment with new features, explore different target markets, and rapidly iterate their products to stay ahead of the competition. This flexibility allows startups to seize emerging opportunities and adjust their business models accordingly. For instance, companies like Netflix transitioned from DVD rentals to streaming services, revolutionizing the entertainment industry.
    4. Market Validation: Customer feedback not only shapes product development but also helps startups validate their market fit. By closely listening to their customers’ pain points and preferences, startups ensure that they are addressing genuine market needs. This customer-centric approach increases the likelihood of building products that resonate with their target audience, leading to higher adoption rates and faster growth. For example, companies like Warby Parker disrupted the eyewear industry by offering affordable and stylish glasses based on direct customer feedback.
    5. Building Strong Customer Relationships: Tech startups understand the importance of building strong customer relationships. By actively engaging with their users, responding to feedback, and providing excellent customer support, startups foster loyalty and trust. Satisfied customers become brand advocates, spreading positive word-of-mouth and attracting new users. This organic growth fuels the expansion of tech startups. Companies like Tesla have built a dedicated community of enthusiasts who passionately support and promote their electric vehicles.

    Tech startups are thriving due to their focus on technology, customer feedback, agility, market validation, and building strong customer relationships. By leveraging these strategies, startups can rapidly grow and disrupt traditional brick-and-mortar businesses. The digital age presents immense opportunities for innovation, and tech startups are leading the way by embracing technology and catering to the ever-changing needs of their customers.

    In the ever-evolving business landscape, the growth of tech startups serves as a reminder that traditional brick-and-mortar businesses can also thrive by embracing technology. The time has come for brick-and-mortar businesses to leverage technology to get closer to their customers, gain valuable insights, and take data-driven actions that fuel growth. By adopting tech-driven strategies, brick-and-mortar businesses can bridge the gap and compete in the digital age, opening doors to accelerated growth and success. We continue to build connectchief to help our brick and mortar colleagues “change their game”

  • Unlocking success through collaboration

    Every small business owner we’ve spoken to is no stranger to the challenges and triumphs that come with running your own venture. Whether you own 1 storefront or a chain of 10, the challenges remain.

    When we looked around we have discovered something untapped. Hardly anyways has considered the untapped potential that lies in collaborating with fellow local businesses in the communities they serve. So, we at connectchief decided to build BizzConnect a way to help our patrons explore the power of collaboration, where the combined efforts of non-competing businesses can lead to unprecedented growth, mutual support, and an uplifted community.

    So, we delved into the world of collaboration, drawing inspiration from the successes of global corporations that have proven the undeniable value of working together. We found so many amazing examples and proof of yet another thing that all small business owners need to be doing more of – COLLABORATING!

    Think about tech titans Apple and Nike. While they operate in vastly different industries, their collaboration led to the creation of the Apple Watch Nike+, a marriage of technology and fitness that resonated with consumers worldwide. This partnership not only showcased innovation but also tapped into the strengths of both brands, enhancing their offerings and captivating a wider audience.

    Now, consider the alliance between Starbucks and Spotify. Recognizing the shared interests of their customer bases – coffee and music – these two industry giants teamed up to curate unique playlists for Starbucks stores. This collaboration turned Starbucks locations into music discovery hubs, enriching the café experience and boosting Spotify’s user engagement simultaneously.

    These examples offer invaluable insights for small business owners –

    1. Elevated Exposure: Collaborations between global giants magnify their reach, driving awareness among each other’s customer bases. The same can be applied at the local level, where cross-promotion between non-competing businesses can lead to increased foot traffic and sales.
    2. Resource Sharing: Just as Apple and Nike combined their expertise, local businesses can share resources like marketing strategies, maybe space, or even staff training, amplifying their collective potential.
    3. Community Enrichment: Partnerships between big corporations often extend to social initiatives, displaying a commitment to community betterment. We’ve seen local businesses already mirror this by collaborating on local projects, fostering goodwill and positive impact.
    4. Innovative Synergy: The Apple-Nike and Starbucks-Spotify collaborations exemplify how diverse entities can come together to create innovative products or experiences. By working alongside non-competing businesses, you can spark creativity that might otherwise remain dormant. Think of the businesses that are around you and the ones that you need to be forming relationships with.
    5. Shared Growth: Just as global collaborations lead to shared profits, local partnerships result in a strengthened community economy, benefitting everyone involved. Most importantly, if you are serving a common customer audience, its a no brainer for your businesses to be finding ways to collaborate

    bizCONNECT by connectchief can make collaboration easy. We can help you promote each other. Keep track of your cooperative efforts and do this not just across 2 but across over a 100 potential simultaneous partnership arrangements.

    Drawing inspiration from these giants, local businesses can embark on collaborative journeys that enhance their own fortunes and that of the entire community. The lessons are crystal clear: unity breeds success.

  • Why should anyone use trustENGINE when so many other review platforms already exist?

    We created trustENGINE because every business whether big or small that registers with us gets unbiased reviews. The foundation principles of trustENGINE are the following –

    • Reduce fake reviews
    • Help proliferate the truth
    • Accelerate the opportunity to receive feedback & improve
    • A single venue for consumers to interact with the business
    • Promote reviews from verified transactions
    • Build trust through transparency

    See here why we created trustENGINE and how we are innovating to make trusted reviews a reality. Many review platforms already exist in the market but they all have a few gaps which cause significant challenges for consumers & for businesses too

    + Many online review platforms have a pay to play business model

    Businesses that pay can get preferential treatment. This monetization strategy may be good for the review platform provider but is harmful for the consumer. trustENGINE works on a common set of guidelines that promote transparency & fairness to all users & businesses alike

    + Fake reviews can proliferate on public platforms

    Fake reviews are common on the online platform. They are either negative or positive. Some organisations, to promote their own products and business even hire people to write fake reviews and cause harm to their competitors. Customers rely on reviews to buy products and services. But these reviews sometimes can create problems for consumers and small business.

    + Businesses must have an opportunity to challenge suspect reviews and ask for transaction verification

    Businesses can be vulnerable to frauds. Customers to get something in return or to defame the company write fake reviews about the product they sell. You can reduce the risk of negative reviews by addressing them in a positive way and fix it.  This risk can be reduced by asking the customers for their verified contact details, transaction ids or some proof of purchase of the goods or services brought from them.

    + Most platforms cater to large or online companies

    trustENGINE is designed to help the small business owner build their brand and to build awareness with customers. By enabling small business owners to collect reviews online or in-store, we’re focusing on helping consumers discover that amazing business that is within their community or neighborhood.

    + Consumers have a hard time knowing the businesses actual rating based on verified transactions

    On trustENGINE any consumer can provide a review for any business. We clearly highlight whether a review is based on a verified transaction or not. Every reviewer must confirm their contact information before they can write a review on trustENGINE. This ensures that a review received can lead to a conversation between the business and the reviewer and provides the business owner an opportunity to make good on the customers experience.

    In summary, trustENGINE works on transparency & fairness to all users & businesses alike. Curbs and flags online fake reviews. Enabling small business owners to collect reviews and focusing on helping them and the consumers to discover businesses in their neighbourhood.

  • What are the best practices to follow when writing a review for a business or product

    Your reviews matter to both – other shoppers and to the businesses you are reviewing. Reviews provide an opportunity for businesses and customers to build a relationship with one another. And an natural guide for new customers who may be looking to determine if a service or product will meet their needs.

    When you post a review on trustENGINE (or anywhere for that matter), your review should be as clear as possible about what you liked and did not like about the service or product you received from the specific business.

    By doing so businesses understand what they do well and where they need to do better. Most businesses views reviews are a key source of information for creating better experiences for everyone. Here are some best practices to follow –

    + Reviews should be short and clear

    Be specific about what and how you write about the product. Limiting your feedback content to your specific experience is very important. Where possible (always give the business a way to identify your interaction through either a transaction ID, receipt number or other means). Being clear and effective in your reviews gives others the opportunity to understand and take decisions to buy and also builds trust between the business and buyer. If you are a frequent user of the business, you may go back to provide feedback more than once as long as every review is backed by a specific verifiable interaction or event.

    + Be courteous, polite and friendly

    When you encounter an issue, providing feedback is the best way to help the business remediate the problem. It is the quickest and easiest way to ensure others know of your experience and openly allow the business to respond and address the situation.

    Its important to be polite when writing reviews even if your experience was negative. The intent is for transparent communication and how the business owner conducts themselves (whether they care or not) will become evident through how they respond to your reviews. Transparency improves relationships and offers fertile ground to build trust. Patience and mutual respect are best ways to solve even the most difficult situations easily.

    + Write only if you have had a verifiable interaction

    Giving genuine reviews is very important. Therefore it is necessary, only give your feedback when you have had a direct experience. Do not write just because someone has shared their experience with you. Every negative review, can affect the overall rating of a business. To ensure that fake reviews do not hamper the reputation of a genuine business, at trustENGINE we encourage verified transaction reviews. The goal is always to ensure full transparency from each side – reviewer & the business both.

    + Finally, read through your review once before posting so you know it reflects what you feel

    Before you post your reviews, proofread and thoroughly check to ensure it says what you are meaning to say. Always follow the community guidelines. Reviews can be flagged or even removed for policy violations. However, trustENGINE will always take an unbiased position and shall never hide or remove a review simply based on request from a business owner.

  • How can businesses curb fake reviews

    Fake reviews are a huge problem for businesses.

    However, how can one stop fake reviews from popping up and misguiding our end users. Fake reviews come from many sources – jealous competitors, disgruntled customers or employees or anyone who may have any reason to benefit from your business not doing well. Fake reviews can misinform customers if not handled properly. However, the right attitude and approach to handling fake reviews can make your business shine out better than it would otherwise.

    We all want our customers to be reading the real reviews about our business, its products & services. And we need to know that fake reviews can be reduced but not avoided completely. So its best to remind all genuine users to provide a review, whether good or bad. Because reviews will help us do better and get our business do better over time. See our post here on why its important to get customers to write reviews about you.

    In our experience – there are a few simple steps that every business must take to curb the fake reviews about your services.

    1. Respond to every review

    When you respond to every review, your customers know you genuinely care. Your response needs to focus on the issue not the reviewer and never come across as defensive. Your goal with reviews needs to be to genuinely listen and learn

    2. Follow a good review moderation practice

    Reviews that seem suspect should be dug into. Ask for more context, information that can help you connect the feedback to a real interaction. Always operate from the premise that the review is not fake and make an earnest attempt to help the customer (thats why every business exists, to serve the customers). Requesting for information on things like the name of the person who the customer interacted with, items that were on the order, approximate date and time of the transaction etc can help you demonstrate to the community how genuinely you are interested in supporting customers as a business. With trustENGINE paid plans our team can help with guided mediations (in certain conditions). Our team on an ongoing basis can even flag reviews, reviewers or businesses that appear to be borderline fake / suspect.

    3. Promote reviews from verified transactions

    Try to tie every one of your reviews to a transaction or an interaction between the customer and your business. This practice of connecting most reviews to a valid interaction is ‘worth its weight in gold’. Verified transaction reviews = actual reflection of interactions with the business. trustENGINE can split business ratings to show your rating from verified transactions vs non-verified transactions. Non-verified transaction ratings carry a lower weight towards your overall rating.

    4. Know that you can reduce but cannot eliminate fake reviews

    Its hard to eliminate fake reviews, so its all the more important to ask all your genuine customers to review their interaction with your business. A best practice is to issue an invoice for every transaction. Each invoice must bear a unique interaction number (invoice number, transaction number, order number or other transaction ID that is relevant to your business) and a message to each user to share a review. trustENGINE is built not just to support online businesses but also brick-and-mortar storefronts. Using trustENGINE + connectchief tools you can encourage your users to provide a review or rate their visit experience from within the storefront itself. Reviews captured from within the storefront also carry information on the location where the review was provided (we capture location but do not display it) and further increase the likelihood of that review being tagged as genuine.

    5. Take an unbiased position when hosting your reviews

    In general, reviews that are self-hosted on your own website are not received well by customers. Customers find it to be less trustworthy when a business has full control over which reviews to display vs not on its website. As the saying goes, you can’t trust the fox to guard the henhouse (meaning Don’t assign a job to someone who will then be in a position to exploit it for his own ends.)

    Reviews are best hosted with a third party platform that has proper processes in place to ensure that reviews are unbiased, cannot be tampered with while there exists an opportunity for the business to make amends and improvements when negative feedback is received. The ultimate goal for a open for everyone reviews platform is to build trust through transparency.

  • Are ads a good idea for my business?

    Advertising is a good way to attract new customers and as a by-product also remind existing customers of your presence. However the goal of advertising is to inform the cusotmer of your message.
    The message in ads can be of one of 4 types. See more here

    Ads can be a good idea for your business if you have the following goals

    + You goal is to build brand recall

    Digital display ads are a great tool when your focus is to re-engage with non-returning customers or to build brand recall

    + When ad spend meets a ROI watermark

    We recommend you always have a clear ROI budget before you spend on ads. To achieve the right outcome, its equally important to be able to measure your targeted returns. As an example, if you say we want to get $1 back in revenue for every $1 spent on ads, thats an easy to achieve goal. However, are you measuring and more importantly are you able to reliably measure how much revenue you are generating from those specific ads.
    At connectchief, we often find ourselves saying “If you don’t know where you’re going, any road will get you there” This statement is as true for marketing spend on ads than anything else.

    + You wish to target users at a specific location or in a specific moment

    Running an ad for your ice-cream parlor at or near the campus of a local community college or elementary school is a great way to be in front of your customers when they are most likely to think (students wanting to hang out or families with kids looking for a treat) of a business like yours.

    Advertising a promotion is an even better way to run Ads

    + Promotions can be targeted to different user groups (aka cohorts)

    Promotions give the business a lot of flexibility. You could provide incentives to users for shopping at your store or to buy a certain product or service at an advertised price or to receive a discount for making purchases on a specific day or time. The opportunities are endless and when paired with location targeting can produce phenomenal results

    + Promotions are also a great way to acquire new customers

    Money spent on ads is cash spend. When money is given away through promotions, the spend is in goods or services – each of which have a higher perceived value to the consumer as opposed to the amount they cost you (the business owner to produce). Moreso, a promotion provides the consumer a way to try your product and services at a lower price point. You only spend, if they transact with you.

    + You are looking to engage with customers

    Promotions are generally structured as some benefit that a customer gets in exchange for a certain action. So a call-to-action is always built-into the promotion but it may not be the case for an advertisement. The ad is simply a means of informing the target user of your message.

    Advertising is meant to inform.

    Promotions are meant to engage. Promotions can be advertised too!

    What budget spend should one allocate on marketing activities ?

    This is an age old question. The answer is, it depends. As a thumb rule, if it costs you $x to acquire a custome through ads, are you able to generate 2x or better margin (not revenue) from that engagement? If yes, then the ad was worth it.

    Both ads and promotions are marketing tools. While advertising presents a reason to buy a product, sales promotion offers a short-term incentive to purchase

    The ultimate goal is to
    (1) Either acquire a new customer or
    (2) turn a one-time customer into a returning customer.
    Achieve any of the above and you are it mostly right.

    Any technology platform that offers ads allows you a lot of flexibility to experiment. Digital Ads are generally far more cost-effective over traditional media. They provide you to tune and customize your target audience. And most platforms are flexible where you can start, stop or even adjust your ad budgets at any time. The most important piece for any business (which most seem to forget is to measure if the ad or promotion is actually effective).

    PromoENGINE by connectchief takes a unique approach to promotions and ads. Our tools enable the small business to promote themselves to customers not just at vantage locations but also directly within your storefront (online or offline). Learn more about PromoENGINE and how these tools help you engage better with your target customers.

    How does a business turn a customer into a returning customer?

    Customers only return to businesses they like transacting with. They may find your product or services to be superior to other options. They may return because you are easy to do business with. They may return because your staff is caring and listens to its customers.

    To know if you are doing the right thing, you as a business owner or manager need to be in touch with your customers’ perception of the experience you and your team deliver. In business transactions, particularly service-oriented ones, customer experience issues can occur. However, a business that listens and attempts to make improvements, even if they delivered a poor experience to start, has a way higher chance of the customer returning to them vs one that seem to not care. Coming soon! with VisitXP business owners can get a quick check of their service delivery experience