Tuesday, 5 November 2019

Ignoring Business Communication Might Cost You Time and Sales

Communication word is derived from a Latin word ‘communis’ which means to participate or to share. Communication is nothing else that sharing of ideas, knowledge, opinion, emotions, attitude or a fact.
“The art of communication is the language of leadership.” -James Humes
From an infant who cries for milk, a dog who barks to warn his master communication is everywhere. So, how could you even imagine your organization running without proper communication? Afterall, it consists of the most valuable asset- The Human Asset.

Although there are a number of techniques getting used in the corporate world to remove this pitfall from their companies known as communication gaps.

Techniques like Management Information System (MIS), Corporate Information System (CIS), and Decision Support System (DSS) are helping the corporate world avoid the outcomes of bad communication presence in a company.

Now, coming to the point, what if you’re ignoring this vital and natural part of your business.

Let me tell you one thing!

There is no leader in this entire world who wakes with a thought:
“Today is a good day! And I’m going to avoid most of my employees purposefully.”
I mean! Are you kidding me? Nobody thinks like that and not even wants to think this way.

It’s all about communication, Our low ability to listen, understand and speak to others can make us cost awful regarding our business but can also affect our personal life too.

Here I want to show you a mirror if you’re one of them that I got every talent and resources and nothing else is required and have never ever thought of doing something about your communication.

“Disengaged employees can cost $450 to $550 billion per lost in productivity.”

Poor communication can cost your sales adversely because its effect can be seen directly as:

Loss Of Customers

Communication can be a  bridge between you and your customers. One interactive communication is enough to break the ice. There are three ways by which you can lose your customers due to poor communication.

Loss Of Present Customers

People come to you either because of your services or reputation or for your product. A poor communication habit can lead your business toward the loss of interest of customers.

Loss Of Potential Customers

Poor Communication has the power of taking back the people of you who have not even started buying from you. When new people knock your door and feel themselves ignored and unimportant you have high chances to lose them before they can reach your wallets.

Loss Of Future Customers

Once I bought a phone and faced a lot of issues with it. Although I successfully returned it and got my money refunded back, but now if anybody comes and ask me about buying that phone.

From my side, I don’t know why but I can never say yes. That’s what happens in a business one upset customer is not just a single customer but it stops much more to reach you.

Product Development

Many businessmen make this mistake of thinking that Research & Development department of their company can help them in developing the best and unique products/services.

No doubt!

It can help you in developing the product for you. But it’s your customers only who can help you in making it the best and unique than your competitors are delivering. Their feedback, their views, their expectations can help you in your real product development and for this, you need a proper and interactive communication channel which can help your customers to speak out loud and honestly.

When you’re developing a new product or trying to upgrade an existing one, you need to have a good communication channel between you and your customers. It helps you in receiving true input that can lead to an effective market research for your business.

Loss Of Reputation

More sales need more purchases by customers and here the role of reputation comes into place.

If we talk about soft drinks the first name comes to your mind is “Coca Cola”.

If toothpaste than “Colgate” and do you remember that red-colored “Kissan Jam” Bottle?

Who doesn’t?

This is what we call a Reputation. When your name starts signifying your industry, then your business becomes a Brand. Your brand is your reputation and reputation is a magnet for your business that can easily pull customers to you.

Loss Of Employees

A customer is coming to you with a confusion related to your product, approaching to your customer service department. When he asks the query and your customer representative put him on hold for 5 minutes and then coming back with the answer.

Trust me, this is very irritating. The customer starts thinking about why can’t they train their people properly. This happens when an employee is all new. For once it’s okay, but what if every time you’re hiring new people training them and after a few months they are flying away.

So, proper communication can help you in building a strong relationship between the company and its employees, which ultimately saves the money of the company which earlier was getting spent in hiring and training new people every month and also helps in building a strong and interactive customer service department of your business.

Hampers Profit

Last but not the least - Profit.

Your bad communication either it is with your employees, your clients, your partners or anyone will always build a glass wall between you and them that will directly or indirectly affect your profit.

Every business is there to earn a profit and more profit. So, anything which is hampering it should be checked carefully.

So these were some of the points where you can see the adverse effect of ignoring communication. From your employees to your customers, within your organization or outside of it, communication is everywhere.

Louis V. Gerstner, Jr.  put it best: 
“It's about communication. It's about honesty. It's about treating people in the organization as deserving to know the facts. You don't try to give them half the story. You don't try to hide the story. You treat them as - as true equals, and you communicate and you communicate and communicate.”

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