10 Challenges a Good Business Should Account For – Wall Street News

10 Challenges a Good Business Should Account For – Wall Street News


omers’ satisfaction. A Hubspot survey found that 63% consumers want organizations to listen to their demands and meet them.

What are the exact needs of customers? and how do you ensure sure that you’re meeting their expectation? These are the key elements a business must consider for managing customer expectations. Customers should know exactly what they will receive when they purchase your product or service. People are more upset by late deadlines than any other thing So be honest right from the start.

Be Responsive to Customer Inquiries

Hubspot states that 58% of American clients would be willing to switch firms if they felt the customer service was not good enough. Don’t be included in that number. Be sure that your clients don’t be waiting more than 24 hours for a response to their inquiries.

Keep Your Promises

This is a very simple question. If you tell your customers that you’ll do something then make sure that you actually do it. The trust of your customers will decrease in the event that you fail to keep promises. This isn’t an easy task however, managing expectations of customers is essential for every business which wants to grow.

4. Compliance to the Regulations

Any regulations applicable to the specific industry need to be observed. This can be a challenge for certain businesses because it is a constant change in regulations to keep up with.

A new Integreon study revealed that 70% of businesses aren’t equipped for compliance with all regulations. Inability to comply with regulations can lead to heavy fines or other sanctions. In order to avoid this, companies must have a strategy to remain up to date with latest rules.

Lawyers with experience are crucial to your company. The cost of lawyers can be high, however they’re an essential resource when it comes to the compliance of regulatory requirements. You can even get techniques from them to work with customers.


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