Five Questions That Will Improve Your Business Performance in 2023.

𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘆𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝘁𝗼 𝗳𝗲𝗲𝗹 𝗮𝗯𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝗯𝗿𝗮𝗻𝗱? A strong year is built upon a clear intention to be better at translating the business vision into more consistent customer journeys and experiences. Start with identifying the “What” and be persistent in pursuing the “How” - understand the main touch points of your customer journey that need to be fine-tuned, develop an upgraded service-standard menu and ensure everyone who is responsible for delivering it is well trained.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝘀𝗽𝗹𝗶𝘁 𝗼𝗳 𝘆𝗼𝘂𝗿 𝟮𝟬𝟮𝟯 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘁𝗮𝗿𝗴𝗲𝘁 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗲𝘅𝗶𝘀𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗻𝗲𝘄 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀? Have you considered breaking down the target amount into expectations between revenue dependent on new traffic versus retaining the spending of existing customers? It depends on the nature of the business, but overall a 50% or higher revenue on existing customers is a healthy sign. Dissect existing customer's revenue expectations into number of returned customers and average customer spending.

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝘁𝗼 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗿𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆? Customer retention is a vast topic and it is impossible to focus on everything. Depending on your business maturity, merchandising opportunity and retail initiatives, the customer loyalty focus will be different. This could be about growing your customer base, converting new users into repeat customers, or driving the spending/visit frequency of your most loyal customers.

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝗺𝗼𝘀𝘁 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗰𝗹𝗶𝗲𝗻𝘁 𝗲𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀? Having clear data on the effectiveness of your past client initiatives allows you to narrow down the 2023 plan - continue to scale the ones that are working, fine-tune the ones that aren’t, and look to introduce new ideas. Make sure to speak with your clients to get their first-hand feedback too. While your most loyal clients should be included obviously, don’t forget to invite the “newbies” who are actively engaged with the brand. You will be happily surprised by how much insight you can get.

𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝘂𝗽-𝘀𝗸𝗶𝗹𝗹 𝘆𝗼𝘂𝗿 𝗰𝗹𝗶𝗲𝗻𝘁 𝗳𝗮𝗰𝗶𝗻𝗴 𝘁𝗲𝗮𝗺? Take care of your internal clients so that they are equipped to be your best brand ambassadors. Are they capable of delivering an appointment-driven business, building solid customer profiles and delivering lifestyle selling? Mastering these techniques will ensure your business is set to scale the long-term growth it deserves.

Complete our comprehensive scorecard in the comment below to 𝘂𝗻𝗹𝗼𝗰𝗸 𝘆𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗹𝗼𝘆𝗮𝗹𝘁𝘆 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝘃𝗶𝗮 𝗮𝗻 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝗳𝘂𝗹 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗼𝗳 𝗿𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝘀.