SME Enterprise
5 Techniques Companies Can Use to Win at the Customer Experience
By Customer Service Strategist Yanique Grant
Social Customer Service is a real phenomenon and it surely is not something any organization should take lightly. Customers in the 21st century are super-informed and possibly suffer from information over-dose. The customer experience is no longer driven by the company but by the customer.
A lot can be misconstrued through the written word, so it’s essential that brands use a variety of ways to ensure that the customer experience is always a great one. Bricks-and-mortar shops can turn customers into lifelong brand advocates with their in-store service. Ideally, all online companies should offer great customer service 100% of the time, but sadly we know this isn’t always true. Here are five ways online companies can provide the best possible customer experience every single time.
1. Be Available – your social presence is like having an actual store that has a sign hanging that says “Come In, We’re Open” – therefore, you must provide a framework where no matter what time of the day, what day of the week and what holiday – some mechanism has been installed in order to facilitate prompt feedback to the customer! Should consumers need to get in touch with a company, it is vital they are easily contactable with clear contact details such as phone number, address or email address available on their site. A live chat option is also a great idea for customers who are hoping for a more immediate response. If a customer has to waste their time searching for contact details, they are likely to end up more frustrated than they were when they first thought to get in contact.
Even if customers aren’t getting in contact regarding an issue, being easily available is still extremely important. Newsletter sign-ups are fantastic for getting the word out about a business but there will never be that many subscribers if customers can’t see the sign-up option when they arrive on your site. The same goes for tailored quotes – a customer may want to get a tailored quote for something — perhaps a personalized item and if this isn’t relatively simple to do, they may go in search of another online retailer instead.
2. Keep Customers Updated – It is critical for you to “Keep your hand on the horse” which is a saying we use when we have workshops which basically means that when you are doing business with a company it is similar to brushing a horse – you keep one hand on the horse so he always knows where you are and does not get skittish and kick you – when your customer does not feel kept in touch with – they become irate and start complaining and this is because they do not feel in constant contact with your people and your company. A consumer will always appreciate being kept in the loop, so keeping customers updated on your brand is a necessity. Whether everything is running smoothly or there is a slight delay, letting customers know, rather than avoiding the issue, will always be seen in a more positive light. Skirting round the issue altogether will cause customers to lose trust so keeping them informed, even if the news isn’t always positive, will ensure customers keep trusting you as a brand and will consider using you again. Regardless of channel, response time is a key driver of customer satisfaction, with First Response time particularly important over social. Even when an issue cannot be resolved immediately, it is important that an agent show the customer and everyone who might see the post that the company has heard the message and is working on a solution.
Engagement is key when it comes to business. There are often issues that cannot be foreseen. Unexpected sales leading to items being out of stock, delivery delays and other issues may be unavoidable but by ensuring customers know the exact issue without having to chase is extremely important. One great way you can keep your customers updated is by using social media as a customer service tool, which can help customers to avoid the pain of the call centre queue and offers a more personal touch.
3. Get Feedback from Your Customers – Whilst this almost goes hand in hand with the above, receiving feedback from your customers is a must. We live in a world where a brand absolutely needs social media and they can receive compliments, complaints and a whole lot more in real time. A brand that doesn’t engage with their customers will be noticed by the customers and will usually result in a lack of trust. Responding to customer queries, complaints and praise on a regular basis, will not only keep trust but will also serve as a reminder about the company to their customers when social media updates appear on their feed.
Reviews are invaluable to a business, especially one that is based online, and reviews on social media should not be ignored. Consumers trust in online reviews, whether they are on the company website, a review specific site, or on social media. This trust is also invaluable and should not be strained if it can be avoided. To provide insight to the service you’re providing your customers it might be worth sending out a customer satisfaction survey post purchase, for some companies this might be quite eye opening. Then you are able to review what your customers have thought has gone well and it will help to correct any problems you might have had or preempt any problems from occurring.
4. Give Customers An Experience They Want To Share – All customers are emotional human beings and their buying decisions are driven by emotions. Many brands have taken this fundamental concept into account when engaging with Social Media and in their online presence. As a brand you need to create a personal connection with your message and a message that your customers would actually like to share. Today’s consumers are stepping away from large, impersonal corporations and embracing companies that make the effort to form a personal connection. You can improve the customers’ experience by listening to what they want and staying up to date with the latest trends. Create a buyer-centric business model, and the referrals will roll in organically.
5. Have a Social Customer Service Policy – you may ask or ponder….what’s that?? Well, just as how in a business there is a policy that guides the employee on how to function and operate regarding the situation…..the same applies to how your team members should engage with social customer service, what kind of profile should they be maintaining in a social environment such as Facebook and/or Twitter and what is considered acceptable and what is not considered acceptable. The policy will provide clear ways of presentation and the benefits for the individual and the company. Our customer base is moving away from traditional communication and so companies need to look at Social Customer Service as a real component of their overall business strategy.
Here is an Infographic that highlights some interesting statistics for Social Customer Service –
BONUS TIP – Post, Don’t Just Reply
Companies can be proactive with their social customer service by posting useful information, such as product updates, tips to improve usability, and links to knowledge based articles, to keep customers engaged and in the know about the company and all it has to offer. Social media should be used “to build your brand and support your marketing initiatives, not just on a defensive basis.”
By keeping a Twitter feed or Facebook page updated, an organization can reduce inbound call traffic at a time when a particular issue might cause a spike in calls, as in a utility that experiences an outage, for example.
Businessuite Markets
Sygnus Real Estate Finance Strategically Increases Stake In One Belmont From 70% To 86%
Results of Operations
SRF continued the transition between its first and second investment life cycles with a number of key initiatives, namely:
- Strategically increased its stake in the 9-storey One Belmont commercial tower asset from 70% to 86%;
- Increased its investment in income generating third-party real estate investment notes (REINs) by 25.3% to J$2.30 billion; exited J$1.72 billion of investments;
- Paid its first dividend of J$0.2012 per ordinary share in December 2024.
Primarily as a result of the increased stake in One Belmont, SRF generated a net profit for Q2 2025 versus a loss in the similar period last year, and a lower loss for 6 Months FY 2025 versus the similar period last year.
Book value per share increased 5.0% to J$24.05 compared to J$22.91 last year, given a J$372.06 million or 13.5% increase in retained earnings to J$3.13 billion as at the end of the period.
SRF continued to advance the ongoing execution of interior build-out works for some tenants of the One Belmont property, and the monetization of its partial exit from the One Belmont investment; and advancing the value creation process for the Mammee Bay hospitality asset in St. Ann and the Lakespen industrial asset in St. Catherine.
The Group remains dedicated to executing its strategy of unlocking value in real estate assets to enhance shareholder value.
For Q2 2025, total investment income or core revenues was J$152.25 million compared to negative J$24.35 million for the three months ended February 29, 2024 (“Q2 2024”). While total investment income or core revenues was J$26.59 million for 6 Month FY 2025 compared to negative J$55.31 million for the six months ended February 29, 2024 (“6 Month FY 2024”). This was primarily due to increased lease and other income, a gain on disposal of financial instruments of J$33.73 million, a gain on acquisition of shares in Joint Venture of J$162.20 million, and share of gain on joint ventures of J$39.26 million. The gain on acquisition of shares in Joint Venture resulted from SRF’s strategic decision to increase its exposure to the One Belmont commercial tower. On a net basis, SRF’s overall income from this asset was J$209.95 million for 6 Month FY 2025.
The weighted average fair value yield on REINs was 8.7% compared with 4.3% last year, with the weighted average yield on REINs measured at amortised cost being 14.4% vs 13.5% last year. The increases noted were due to the redeployment of capital into higher yielding real estate investment notes. The weighted average fair value yield on REINs is expected to improve significantly during the current financial year as SRF continues to substantially increase its exposure into third-party income-generating assets.
The weighted average cost of debt was 9.0% compared with 7.6% last year. This result was due to a higher interest rate environment as well as SRF securing longer duration debt. One of the tranches of SRF’s 2024 capital raise has a variable interest rate structure, which becomes effective after the first year which SRF expects to benefit from as market interest rates move downwards.
The share of gain on joint ventures amounted to J$15.63 million for the quarter ending February 28, 2025, compared to a nominal loss of J$0.51 million last year, while the share of gain on joint ventures was J$39.26 million for 6 Month FY 2025 compared to a loss of J$0.81 million last year. This was mainly driven by SRF’s increased ownership stake of 86% of the Audere Holdings Limited joint venture and SRF’s 71.0% ownership in the newly formed joint venture company referred to as 5658 LMR Limited, whose underlying assets are two (2) resort villa properties located in Ocho Rios, Saint Ann.
SRF’s total investment income consisted of various activities aimed at unlocking value from its real estate investment portfolio, namely: interest income, lease income and commitment fees related to REINs; gain or loss on property investments or on exited real estate assets; and share of gain or loss on its joint venture investments.
Due to the nature of its business model, SRF may experience fluctuations or “lumpiness” in total investment income and net profits during interim reporting periods, which usually stabilizes by the end of each financial year, as evidenced by the FYE Aug 2024 results relative to the interim quarterly performance. The Group uses independent appraisers to value its investment assets annually. All investment properties are USD investment assets which are converted to JMD for financial reporting purposes. SRF’s key strategic assets are held via wholly owned subsidiaries or joint ventures.
For the three months ended February 28, 2025, net investment income or core earnings was J$66.75 million versus negative J$113.22 million last year. While for the six months ended February 28, 2025, net investment income or core earnings was negative J$160.21 million versus negative J$228.10 million last year. The increase recorded during the quarter was mainly attributable to SRF’s gain on its acquisition of additional shares in Audere Holdings Limited, increasing its stake in the joint venture from 70% to 86%. For FYE August 2024, SRF generated J$508.50 million in net investment income.
Net profit for Q2 2025 amounted to J$38.24 million relative to a loss of J$187.15 million last year, while net loss for 6 Month FY 2025 amounted to J$197.45 million vs a loss of J$320.13 million in the corresponding period last year. The improvement for both periods was mainly due to gains on investments executed during the quarter. SRF generated an average annual return on equity (ROE) of 19.1% over the past five years of its first investment life cycle through the end August 2024.
Basic earnings per share (EPS) was J$0.12 for Q2 2025 relative to negative J$0.57 last year, while diluted EPS was identical to basic compared to negative J$0.53 last year.
Basic earnings per share (EPS) was negative J$0.60 for 6 Month FY 2025 relative to negative J$0.98 last year, while diluted EPS was identical to basic compared to negative J$0.91 last year.
Similarly, basic core earnings or net investment income per share (NIIPS) was J$0.20 for Q2 2025, compared with negative J$0.35 last year. For 6 Month FY 2025, basic core earnings or net investment income per share (NIIPS) was negative J$0.49, compared with negative J$0.70 last year.
Dr. Ike Johnson Director Sygnus Real Estate Finance Limited
Businessuite Markets
Knutsford Express Charts Strategic Course Amid Profit Decline and Operational Investments
Knutsford Express Services Limited (KEX) has released its unaudited financial statements for the third quarter ended February 28, 2025, revealing a nuanced financial landscape. While the company experienced a modest revenue uptick, net profits have seen a significant decline, prompting strategic shifts in operations and investments.
Financial Performance Overview
For the third quarter, KEX reported revenues of J$593 million, marking a 4.8% increase from J$566 million in the same period last year. Over the nine-month period, revenues rose by 7.3%, reaching J$1.643 billion compared to J$1.531 billion previously.
Despite these gains, net profit for the quarter plummeted by 54.9% to J$49 million, down from J$111 million in 2024. The nine-month net profit also declined by 36.8%, settling at J$170 million from J$269 million in the comparative period.
The company attributes the profit downturn to lingering effects of subdued passenger arrival numbers in Jamaica. Additionally, increased administrative expenses, particularly in staff costs, have impacted profitability. In the first quarter of 2025, administrative expenses rose to J$520 million, affecting net profits despite a revenue increase to J$592 million.
Strategic Investments and Operational Enhancements
In response to these challenges, KEX is investing heavily in fleet expansion and digital transformation. The company plans to inject J$500 million over the next three years to upgrade its bus fleet and implement advanced digital systems . This includes the introduction of airport-style departure gateways and digital ticket-checking kiosks, aimed at enhancing operational efficiency and customer experience.
The Drax Hall depot in St. Ann has become a focal point for these innovations, serving as a prototype for the new passenger processing model. CEO Oliver Townsend emphasized the importance of these investments, stating, “We’re redoubling our investments and efforts on the core business and on initiatives that will improve our customer’s satisfaction”
Service Portfolio Adjustments
KEX is also refining its service offerings to align with market demands. The company announced the discontinuation of its international shipping and e-commerce service effective October 7, 2024, due to a 10% decline in revenue from overseas courier services . This strategic move allows KEX to focus on its core transportation and local courier services, which continue to be significant revenue streams.
Outlook
Despite current profitability challenges, KEX maintains a strong asset base, which grew by over 10.7% in the third quarter, reaching J$2.113 billion from J$1.926 billion the previous year. The company’s commitment to enhancing operational efficiency and customer satisfaction positions it for potential recovery and growth as market conditions improve.
Conclusion
Knutsford Express is navigating a complex financial environment with strategic investments in infrastructure and technology. By focusing on core services and operational excellence, the company aims to bolster its market position and return to robust profitability in the coming periods.
It might not seem like roughly a quarter-century since the digital smartphone made an irrevocable impact on all our lives (whether you currently have one or not), but over the course of those years, cell phones have moved from being glorified field radios to nearly everyone’s go-to device; in business and in personal life, the smartphone is THE accessory, replacing analog watch, camera, game console, phone book and day-runner (remember those?).
And the function consolidation shows no signs of abating, as new feature-rich phones continue to be released to an ever-hungry public.
Dane Spencer, of Smart Mobile Solutions
No surprise then, that a gaggle of entrepreneurs, execs, media and influencers thronged the Digicel store in Tropical Plaza for Samsung’s latest salvo in the smartphone market “arms race” – the S25 line, comprising the base model, S25+ and the topline S25 Ultra, all boasting advanced artificial intelligence (AI) capabilities in addition to the expected bells and whistles (3 different types of camera; powerful new chipset; vital body function monitor etc). Emcee Debbie Bissoon kept things moving with her usual aplomb.
Dane Spencer, of Smart Mobile Solutions, in Jamaica, spoke to this ongoing function consolidation as a key driver of sales and market share. “The convergence of multiple apps on a single handy device means I can truly access and respond to information from anywhere,” he said, providing a personal demonstration on his own S25. “That means whether you’re in corporate or in business for yourself, you can make better decisions, faster.”
Jaszmin Martinez, the Dominican Republic-based Corporate Marketing Manager for Samsung amplified Spencer’s points on market share, adding, “Samsung has a significant presence in the Jamaican market, and one which has grown year on year, so it’s a very important market for us,” she said. According to Stat Counter, Samsung enjoys roughly 52% of the Jamaican smartphone market.
Stephen Murad of Digicel reminisced briefly about the head-spinning growth the company experienced in its early days and all the momentous changes that had taken place in the cell phone market since its launch in 2001. The cell phone, he said, was no longer just a device that you talked through, but increasingly, one you talked with (referring to the AI capabilities) and a constant companion. “The markets’ need for data is never-ending” he said, as folks of all ages have been spending more and more time with their phones.
The company has, however, taken note of those factors and the associated dangers of this manner of closeness with our devices, and has recently launched, though the Digicel Foundation, the Safer Internet Together (SIT) project. In partnership with other corporate entities (JPS Macmillan Education and Sunshine Snacks) and public agencies, the mobile carrier intends to advocate for safer, more responsible internet usage among students in 150 educational institutions.
But, as evidenced even from the interest in the store on launch night, a considerable number of Jamaicans plan to spend lots of time with their S25s.
The new device arrives almost, on cue, in a very dynamic and recently volatile, global smartphone market. After nearly three years of decline, the smartphone market had posted a creditable 7%, according to figures from Canalys Research. The hammer looked set to hit this year with the US President’s all-out trade war, and with the trade conflicts with China ongoing, smartphone sales may buckle under inflationary pressures.
Indeed, the stated Jamaican list price for the S25 entry model (J$136K + tax) is an eminently competitive tag, no doubt influenced by an awareness of the general market conditions (while not cheap, its entirely in line with what one would expect to pay for a similarly equipped competitor model). Indeed, the two lucky guests at the launch who each won one of the S25s on offer are no doubt putting their devices through their respective paces.
The ongoing evolution of life, both in the business and personal spheres, demand devices that can keep pace with dynamics of our multi-active, instantly communicating world, and at a competitive price point. Samsung, with its new flagship series, is looking to deliver -and reap handsomely – on all of those expectations.
Michael A. D. Edwards
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