What, truly, is happiness? Is it the central purpose of human life? A mere byproduct of luck? Is it a psychological state, or a positive evaluation of being?
For businesses, the answer to all of the above questions is, of course, who cares. The only definition of happiness that matters is the one that applies to customers, and a happy customer is one that’s loyal, that keeps coming back for repeat purchases, and one that recommends you to family, friends and social media followers. A happy customer is one that represents excellent customer lifetime value, and happy customers as a group represent a big impact on your bottom line.
According to a Gartner Group study, 80% of a company’s future revenue comes from a mere 20% of existing customers. Furthermore, it reportedly costs six to seven times more to attract a new customer than to keep an existing one. The way to amass these all-important happy customers, then, is to focus on customer retention by improving your customer service. Here are few tips you might just want to consider: >>>
A truly great customer service and customer experience can only be provided by the employees who feel happy and engaged at work. When your employees are happier, so are your customers. And when your customers are happy, they become more loyal to your brand, spend more money with you while your business makes more profits.
But the fact is that only 13% of employees worldwide are actually engaged at work, according to the Gallup’s study on the State of the Global Workplace. In other words, about one in eight workers are psychologically committed to their jobs and likely to be making positive contributions to their organizations. 63% are ‘not engaged’ and 24% are ‘actively disengaged’ indicating that they are unhappy and unproductive at work.
So how do you make them happier and more engaged? Besides improved compensation packages, there might be other ways to encourage long-lasting employee satisfaction. Here’s 5 basic steps to increase engagement in the workplace and make your employees happier. >>>