IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.

Why is customer service important for your business?

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Importance of Customer Service


The services provided by your company to the customers before and after purchasing products or services is called customer service. Your customers can be new, potential or existing. If you want to grow your business, then customer service is the heart of your business irrespective of its size.

What is Customer Service


Customer service is more than just answering questions, phone calls, emails and attending number of customers. This includes how you interact with customers, resolve their issues and represent the company values, mission and reflect brand image of your business because good customer service generally leads to happy customers. Satisfied customers are willing to buy again from you and spread the goodness to family members, colleagues and friends. According to Hubspot 2018 research, 77% customers have shared their positive experience with others.

 

Application and Process:

 

Let’s assume you have a burger shop outside a busy office complex, and you sell 100 burgers a day for $10 each. When a customer visits your shop, you greet them respectfully with a smile and understand how they want their burger to be, let them know how long they must wait if you have few customers in the queue. You can build trust and credibility by answering any questions of customers because you know burger inside out.


Imagine Michael buys 2 burger per week, 2x$10 = $20 for next 5 years, that means $5200 in total. On the positive side, you are working on increasing this customer’s lifetime value with your business and aiming for long term revenue. However, one day Michael experiences a bad service and decides to never visit buy burgers from you in future, then your business will face a loss of $5200 instantly because you were not aiming to sell just 2 burgers a week to him. This in turn can lead to bad reputation of your business in the market. At the same time, acquiring a new customer can cost 6 times higher than keeping existing customers (Bain & company research) and success of selling an existing customer is 60-70% (Invesp).

 

 

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IBBZ Accounting Limited


 


Our key focus is on:



  • Tax advisory for small and family operated businesses on a wide range of taxation issues.

  • Legitimate tax saving structures.

  • Advising on range of new business issues.

  • Ensuring business growth is attained.

  • Effective cash flow planning.



Awards



2014 IBBZ Accounting won the award of Best Small Business 2014. 


2015 Saurav won the award of Best Accountant of the Year.


2017 Saurav was appointed as a committee member to New Zealand Public Practice Board of CPA Australia. 


2018 CPA Australia filmed Saurav Wadhwa and IBBZ Accounting for their marketing campaign to showcase successful accountants in New Zealand Public Practice.  


2018 IBBZ Accounting was Finalist in Westpac Auckland Business Awards: Strategy and Business Planning 2018


 


News Paper Articles.


Sunday Star Times -Fairfax Media -12-08-2018


InTheBlack Aug 2018 issue - CPA Australia In Practice Publication 



Contact us on info@ibbz.co.nz  or 09 272 8050

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Guest Sunday, 26 May 2019