New Business XChange to transform business success
Announcement posted by Localtag Australia 19 Jun 2015
Gold Coast businessman out to improve customer service standards and help small businesses grow
A GOLD Coast company is on a mission to improve customer service and small business success in Australia with a new business exchange being launched on July 1.
Localtag Australia is launching the Localtag Business XChange in an attempt to increase happy customers and save businesses losing up to 30% of sales from bad customer service in Australia.
Localtag Australia Director Pete Nicholls said independent studies revealed that bad customer service was costing companies millions of dollars each year.
“A Bain and Co study found that a 5% increase in customer retention can increase profits by 25 to 95%,” Mr Nicholls said.
He is bringing to local small businesses a process that large corporates like Telstra, Apple stores and American Express have used for years, called the Net Promoter System (NPS). This was first published by Bain & Co Fellow Fred Reichheld in 2003.
With specific questions, like “On a scale of 0 to 10, how likely are you to recommend us to a friend or colleague?”, businesses can measure who their most loyal and least happy customers are and what they want.
“We want to establish a best practice community on the Gold Coast and around Australia, where everyone runs NPS, bringing innovation to small to medium businesses,” Mr Nicholls said.
After working in customer service, hospitality and IT with companies such as Cisco, Quality Inns Group and Dimension Data for 27 years, he said he was sick of seeing businesses waste money on marketing to make up for sub-standard customer service.
“Small businesses are the backbone of employment and the front line of the local community,” he said.
“Wouldn’t it be great if businesses in Australia regained our Customer Service reputation and strived to innovate according to customer feedback?
“This will also increase staff motivation, engagement and retention.”
He said it was important to have a process to ask customers what they wanted and act on the feedback.
The launch in Hollywell ties in with a Gold Coast North Chamber of Commerce meeting and is open to the public.
Gold Coast North Chamber of Commerce secretary Gary Mays said the Localtag Business XChange was a smart idea.
“Great customer service is absolutely critical to grow a business and make it profitable,” Mr Mays said.
“When you get people working together, it’s amazing what they can achieve.”
Everyone who attends the free event on July 1 from 5pm to 7pm will receive a free voucher, worth $540, to join the Localtag Business Xchange with three months introduction to the NPS process to build customer loyalty. It will be at the Runaway Bay Marina, Unit 21, 1st floor, 251 Bayview St, Hollywell. Space is limited so bookings are essential. To register, visit www.localtag.com.au or call Helen on 0402 848 635.
Localtag Australia is launching the Localtag Business XChange in an attempt to increase happy customers and save businesses losing up to 30% of sales from bad customer service in Australia.
Localtag Australia Director Pete Nicholls said independent studies revealed that bad customer service was costing companies millions of dollars each year.
“A Bain and Co study found that a 5% increase in customer retention can increase profits by 25 to 95%,” Mr Nicholls said.
He is bringing to local small businesses a process that large corporates like Telstra, Apple stores and American Express have used for years, called the Net Promoter System (NPS). This was first published by Bain & Co Fellow Fred Reichheld in 2003.
With specific questions, like “On a scale of 0 to 10, how likely are you to recommend us to a friend or colleague?”, businesses can measure who their most loyal and least happy customers are and what they want.
“We want to establish a best practice community on the Gold Coast and around Australia, where everyone runs NPS, bringing innovation to small to medium businesses,” Mr Nicholls said.
After working in customer service, hospitality and IT with companies such as Cisco, Quality Inns Group and Dimension Data for 27 years, he said he was sick of seeing businesses waste money on marketing to make up for sub-standard customer service.
“Small businesses are the backbone of employment and the front line of the local community,” he said.
“Wouldn’t it be great if businesses in Australia regained our Customer Service reputation and strived to innovate according to customer feedback?
“This will also increase staff motivation, engagement and retention.”
He said it was important to have a process to ask customers what they wanted and act on the feedback.
The launch in Hollywell ties in with a Gold Coast North Chamber of Commerce meeting and is open to the public.
Gold Coast North Chamber of Commerce secretary Gary Mays said the Localtag Business XChange was a smart idea.
“Great customer service is absolutely critical to grow a business and make it profitable,” Mr Mays said.
“When you get people working together, it’s amazing what they can achieve.”
Everyone who attends the free event on July 1 from 5pm to 7pm will receive a free voucher, worth $540, to join the Localtag Business Xchange with three months introduction to the NPS process to build customer loyalty. It will be at the Runaway Bay Marina, Unit 21, 1st floor, 251 Bayview St, Hollywell. Space is limited so bookings are essential. To register, visit www.localtag.com.au or call Helen on 0402 848 635.