In supply chain headlines
- UK retail sector faces £140 million rates increase. September inflation dropped to 1.7% in September according to the latest Consumer Price Index which will determine next April's increase to business rates, reports Retail Gazette.
- Amazon rolls out AI Shopping Guides. The global online marketplace is now using product searches to deliver curated suggestions for personalised product discovery, explains Retail Dive.
- Online shopping returns to growth in Europe. Despite fierce competition from low-cost marketplaces like Temu, recovering consumer confidence has boosted online shopping in Europe this year, claims Reuters.
6 best practices for managing customer relationships
By maintaining open communication, responding to customer needs, and building trust, you can create lasting, positive relationships that benefit you and your customer. Here are six best practices for managing customer relationships effectively:
1. Reward customer loyalty. Show appreciation for repeat customers through loyalty programs, exclusive offers, or personalised discounts. Recognising and rewarding loyalty encourages customers to continue doing business with you, and strengthens their relationship with your brand.
2. Use clear, consistent communication. Regularly engage with your customers, keeping them informed about products, services, and any updates. Respond promptly to enquiries and ensure that communication is clear, transparent, and accessible through multiple channels.
3. Personalise the customer experience. Personalising how your customers interact with your brand demonstrates that you value each customer as an individual. Tailor your interactions based on factors like customer preferences, past purchases, and behavior.
4. Be proactive with problem-solving. Customers with issues are already frustrated; don’t aggravate them by taking weeks to solve a simple problem. Address potential challenges early on and provide solutions or alternatives to improve customer satisfaction – even when things don’t go as planned.
5. Request and make use of customer feedback. Rather than wait for complaints to come in when it’s already too late, regularly ask for customer feedback through surveys, reviews, or direct conversations. Take action on their input to show you’re listening and committed to continuous improvement.
6. Reliability builds trust. When you consistently deliver on your promises, from product quality to delivery timelines, you simultaneously foster trust with your customers. This means they’re more likely to stay loyal to your brand and recommend your products to others.
Making sense of logistics – meet Kate Lester
Kate Lester is the multiple-award-winning Founder and CEO of the Diamond Logistics Group, which includes Diamond Logistics, a national fulfilment and delivery network; and despatchlab, a one-stop logistics platform. Kate has worked in the transport and logistics industry for the last 28 years and is a passionate advocate and promoter of equality, diversity, and inclusion. We spoke to her about growth and cash flow in the logistics sector. Here's what she had to say:
What are the main concerns of businesses that you work with, and how can you help?
"Having the in-house skills to manage a part of their business (logistics) that they are incredibly unfamiliar with, nor the capital to commit to a full warehouse function. This is where outsourcing can really help – we offer WaaS (warehousing as a service) with seamless fulfillment without our clients having to get involved at all."
What trends are you seeing in the technology space that are relevant to the firms you work with?
"Making ordering seamless should be an eCommerce brand's obsession. People need a multi marketplace and carrier strategy to sell wherever their audience may be hanging out and deliver wherever they may be – both domestically and internationally – and regardless of what size the consignment is too. So that's means systems need to be integrated with a LOT of carriers and marketplaces.
"And for that you have to have stock synchronisation over those marketplaces too, so customers can only buy what's in stock. There's nothing more frustrating than ordering and getting a manual notification and a long-winded refund of goods not available on that platform. It's not a good customer experience."
What is one simple way businesses can better manage cash flow?
"Be tough on credit terms – we are strictly 14 days DD. As unsecured creditors, we have to be firm to protect ourselves and our network partners."
What prevents companies from growing? What needs to be addressed to achieve growth?
"A lack of accessible finance for innovative companies twinned with the inability in low-margin businesses, such as logistics, to retain profits in tough times to invest in innovation. That's why our tech solution offers the platform as a pay as you use solution for both clients and network partners with the tech cost incorporated."
How can companies cost-effectively meet sustainability aspirations? Is this a priority for SMBs?
"It is a priority – not just because its the right thing to do for our planet and our future, but increasingly it is a decider in purchasing decisions and part of ESG checklist if your are raising finance or investment too. So it makes good business sense too. It starts with a commitment followed by a plan of action and then consistent persistent progress along the sustainability pathway. We’ve just published our Sustainability Plan to help keep us accountable."
What trends are you seeing in the fulfilment and logistics space?
"It's all about the tech. There is still the odd woeful dusty warehouse with inventory held on an Excel spreadsheet. But for modern eCommerce entrepreneurs, they should be demanding world-class integrated systems that minimise errors, maximise transparency, and create a great customer experience. Great tech helps humans perform better. If your fulfilment partner is less than 99.9% pick accurate and doesn't has delivery exceptions south of 3% then find one who can."
On the lighter side
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