Work-life balance as a Sales And Marketing Tools is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).
Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing Tools from never-ending workday is damaging. It can hurt relationships, health and overall happiness.
Customer Retention is Boosted by Customer-Centric Culture
The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.
When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.
Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.
Vendor risk management is now a very important concept that needs meticulous planning. It is a necessity and also a policy that many companies are following for greater efficiency and profit.
There are many Third party vendors or direct company vendors are present in many industries including software, hardware etc. Today it is an integral part of business to manage information and knowledge, as it is the most important asset of an organization. Information security, legal documentation, trademarks, patents, copyright are some traditional and newly evolved concepts. Starting from design to concept today all can be patented or protected by legal documentation.
Today companies assess the brand value, customer information, internal customer satisfaction report, past and present client information before handing over non public information to vendors, like credit card details, bank information, even address phone numbers in mailing and calling lists, (PCI DSS Requirement 12.8 similarly requires covered entities to maintain a list of service providers with whom card holder data is shared.) To back up the institution's vendor risk assessments in conversations with regulators and auditors, it is also helpful to keep handy files containing due diligence and audit reports on the vendors or summaries of such reports.
Vendor risk management is the process organizations analyze not only from the point of view of past experience but also in case to case basis that can be particular to the partnership. This is particularly important for companies that relates to data sharing and the outsourcing of business functions and processing. Vendor risk management is a standard practice today and has matured to an extent where some leading financial industry groups such as BITS have standardized the process significantly through their Standard Information Gathering (SIG) and Agreed upon Procedures (AUP) standards. The use of these standards or their derivatives helps organizations quantify the risk that may be involved with their vendors and then incorporate appropriate risk lessening techniques and measures to alleviate the risk.
Vendor risk management process helps organizations to operate in a mutually secured environment that encircles security of organizations information, customer data and also third party vendor's operational security. It does not eliminate but certainly minimize security concerns involved in third party production of good and services, processing of information and handling data and process. This also enables the third party vendors to draw border line for their employees on basis of certain legal or agreed points within which they have to deliver and work. So it is mutually benefiting the principle organization and the vendor creating a secured platform of operation where both can deliver excellent product or service to their customers or interest groups.
There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.
Empowering employees like Sales And Marketing Tools to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.
How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?
Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.
What Does it Mean to be Customer-centric?
To have the customer's best interests as the focus of your attention - not to be pre-occupied in your own interests at the customer's expense.
To do this, you need to:
(1) Really know the customer in order to anticipate their best interests.
(2) Differentiate between primary and secondary motives.
Customer-Centric Primary Motives:
Making it easier and nicer for the customer to get and use solutions.
Self-Centric Secondary Motives:
Building revenue and profit through new product development, word-of-mouth, etc.
There's a myth that talking often to your customers (sales, service, surveys, etc.) means you're customer-focused. However, customer-focus goes beyond lip-service to the primary motives that drive your behaviors.
Gap in Desired Versus Actual Customer-Centricity
Half of companies say they're extremely customer-centric, but when customers of those companies were asked, only a tenth of them said those companies were extremely customer-centric. Why is there such a huge gap? When you think about who makes business processes and policies within a company, it's usually the workforce that doesn't interact directly with customers. Three-fourths of companies say that customer experience is not well defined and communicated within their company. Half of companies say they have fair or little knowledge of customer demographics, behaviors, psychographics, and transactional histories. Less than a tenth of companies say they have excellent knowledge of customers. Three-fourths of companies say their employees aren't well versed in how to delight customers.
Ways to Really Know the Customer
This represents an opportunity for those who work directly with customers to share valuable stories and facts with the rest of the company, to help the entire workforce live up to their brand promises. We usually think of marketing, sales, and customer service as outward-facing, with only outbound deliverables.
Yet, if a company is customer-centric, then concentric circles around the customer mean that marketing, service and sales are the natural conduit for helping the rest of the company - engineering, finance, human resources, production, operations, technology, safety, accounting, etc. - understand their impact on customer experience and customer profitability. Three-fourths of marketing groups say they don't influence the customer service function ... so you can imagine how much influence marketing has on the rest of the company!
Customer-facing professionals can sensitize the whole company toward the customer's plight and priorities:
(1) Make sure customer stories reflect the customer experience spectrum.
(2) Use creative ways to share customer stories:
- Internal newsletters
- Bulletin boards & posters
- Lobbies, break rooms, war rooms, conference rooms, cafeteria
- Staff meetings
(3) Involve organization in learning and adapting their mindsets - this is the organization-wide journey guiding everyone on managing their personal impact on customer experience, called internal branding
Return on Investment
Your company makes huge efforts and investments in communicating your value proposition, which is the brand promise that shapes customer expectations. A corresponding investment - at least in energy and scrutiny - makes sense for ensuring the brand promise is indeed delivered. Customer satisfaction occurs when the customer's experience meets or exceeds their expectations. Trust - being true to the brand promise - is biggest the biggest factor in building a customer-centric culture that maximizes customer profitability.
Note: statistics from CMO Council Customer Affinity study and Peppers & Rogers Customer Retention presentation.
When a Sales And Marketing Tools spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.