business retention

Should I Stay or Should I Go? - 2/23/21


Should I stay or should I go?  That’s not just a classic song by The Clash.  It’s also the question customers ask more and more, especially during difficult economic times. A recent study in the Charlotte Business Journal noted that 50% of North Carolina businesses are concerned with how to Read more

Optimism – A Force for Good in Customer Service - 2/16/21


Will 2021 be a better year than 2020?  I have absolutely no idea.  Maybe it would be nice to see into the future and know for certain, but I can’t and I don’t.  But as I wade further and further into this year, I can hope that the water Read more

To Assure, Ensure You Do This - 2/9/21


Vince Lombardi – famous professional football coach – became a big hit on the speaker’s circuit during his time coaching.  He applied many of his principles in football and life to business, and one of his great business quotes is:  Confidence is contagious and so is lack of confidence, Read more

Let Your Goal Determine Your Question - 2/2/21


In the early 2000s, when the economy hit the skids, companies realized that they couldn’t take their customers for granted.  They needed to ramp up customer service.  They needed to listen to the Voice of the Customer. During the Great Recession in the 2008-10 timeframe, much of the “new marketing Read more

Excellence is Not Perfection, and that’s OK - 1/26/21


Surveys have questions with ratings that range from Excellent to Poor.  We custom-design and deliver Service Excellence Training.  Tom Peters wrote the book “In Search of Excellence.” But how do you define Excellence, particularly in customer service?  Let’s start with what Excellence is not.  Excellence is not something reflected in Read more

Bring Magic to Your Account Management - 1/19/21


One of our first sports-industry clients was the Orlando Magic.  They were a true leading-edge organization in the early 2000s when it came to dedicating resources to season ticket holder retention.  They didn’t make customer service, relationship-development, and renewals simply a function of the Sales department.  They broke it Read more

Customers Want Easy, but Easy is Difficult - 1/12/21


New employees go through days of training to learn products and services.  They have formal workshops to learn how to use their office applications, web functions, and whatever programs are specific to their department.  They test new technology, and they get quizzed on knowledge of policies.  This is hours Read more

Make 2021 the Year of Building Relationships - 1/5/21


I’ve been very fortunate over this company’s 20+ years in business to have great and long-lasting relationships with many clients, colleagues, business partners, and co-workers.  It’s a gift to be able to call on these individuals for advice or referrals or to be a sounding board.  And it’s just Read more

Bring Warmth During Winter - 12/29/20


Winter is upon us.  Now, winter can mean different things to different people in different regions, but just the word conjures up cold.  It conjures up visions of snow.  It conjures up feelings of wind and lack of warmth. Although some of us may like the cold at times of Read more

2020 Holiday Poem - 12/22/20


When in the role of customer service,We are wired to give and give.It’s built into our DNA.It’s simply the way we live. In order to give to others,We need to find ways to give them their fill.We need to pour empathy and openness into them.To serve, we need to have Read more

BRE and “Live Business Intelligence”

Posted on in Business Advice, Government Please leave a comment

Blog 10-15-14In the article North Peace Economic Development Commission to launch a regional Business Retention and Expansion, the NPEDC says that it’s creating a BRE program – in short – to convey it cares about local business – those that aren’t being recruited like royalty and yet still provide well over 70%-80% of job growth in most communities. But as you read further in the article, there is a key statement: The NPEDC says the information gathered through the program provides live business intelligence to attract new investment, foster and support growth of the existing investment, and identifies key challenges facing the business sector of the region.

This is the 21st century – information travels at the speed of a click, a tweet, a post, or a like. It’s vital that local BRE programs have the intelligence on your local businesses (and FOR your local businesses) that identifies opportunities for growth, risk of job loss or facility closure, needs for improving aspects of the local business climate or technology infrastructure, opportunities to address development-constricting processes or policies, challenges in workforce development or excessive permitting fees, etc.

When we work with clients outside of the BRE world in local government, healthcare, pro sports, and education, we often suggest that they need to have a Voice of the Customer (VOC) strategy. Likewise, for BRE organizations to have “live business intelligence,” they must be intentional about that VOC strategy. Take and use these quick VOC tips that we’ve shared with clients in other industries:

  • Have a quantifiable component (i.e., surveys) to evaluate multiple aspects of the local industry’s experience in working with municipal processes, policies, code/ordinances, and people.
  • Utilize predictive characteristics about retention/growth likelihood based on key factors (e.g., Leadership Change, Economic Concerns, Alternative Locations/Recruitment Efforts, Business Performance, etc.) or historical risk factors locally.
  • Gather information from more Passive means on a daily basis about the company, other company facilities, organizational performance, etc. – See http://brebuzz.com/ – this defines “live business intelligence.”
  • Include Focus Groups and 1-on-1 interviews for deep dives on specific issues or about consideration of future changes/improvements.
  • Include Local Industry Advisory Boards that provide some consistent feedback mechanism as ideas are developed, refined, and moved toward implementation.
  • Use multiple platforms (face-to-face, web, social media, e-mail, telephone, etc.) to ensure breadth of responses to/from clients and the community.
  • Share results in actionable formats with deadlines and timetables – ensure customers know what you’re doing or planning to do with the information they provide to you.

Make “live business intelligence” a part of your Voice of the Customer strategy.

Did you like this post? Here are other BRE-related posts:

See more on Business Retention & Expansion business intelligence at: http://brebuzz.com/


TIME – A Business Retention & Expansion Pro’s Constant Battle

Posted on in Business Advice, Government Please leave a comment

Blog 8-26-14You may have heard the saying “Work expands to fill the time allotted.” The idea is that – for many people – if they have 8 hours of work to do and 8 hours to do it, they’ll get it done; however, if they have 5 hours of work to do and 8 hours to do it, it will still take them 8 hours.

Many Business Retention & Expansion (BRE) professionals never have to worry about this situation because there’s usually too much work for the time. There are internal meetings, client visits, research on current clients through surveys and reviewing publications, support for the business recruitment staff, facilitating resolution to issues with the local government permitting issues, and on…and on…and on.

Where time is the issue for BRE professionals, here are four key questions to ask:

  • What activities are being performed that provide no value to the client? Find, eliminate, or reduce the time spent on these meetings, reports, and other tasks.
  • Where is time spent on research that could be outsourced to others? Don’t spend hours culling through newspapers or web alerts just to learn a little nugget that you can use with a client (have others do it for you).
  • Which are the key clients most at-risk of job loss or with the most opportunity for job gains? Knowing this can help you to allocate more time to those with more opportunity/risk.
  • In what situations are you doing something manual that could be automated? It’s the handwritten survey v. the web-based survey. It’s the handwritten notes that you rekey later. It’s the hardcopy documentation and manual files that build and build and build only to be purged every 3 years in a fit of frustration.

When you’re frustrated that you can’t get everything done, consider stopping what you can, outsourcing where you can, spending more time with those with the most opportunity/risk, and automating whenever possible.

Find more time to do what you do best.

Did you like this post? Check out otherBRE-relatedposts athttp://brebuzz.com/bre-blog-posts


BRE’s Target is Long-term Growth

Posted on in Business Advice, Government Please leave a comment

Blog 4-28-14Keep Calm and Carry On.

To Economic Development’s Business Retention & Expansion (BRE) professionals, the motto is “Keep Jobs and Parlay On.”

BRE programs are not just about retention, they’re really about growth. But it’s hard to parlay your existing businesses into growth if you aren’t keeping the companies and jobs you have already. In the recent article, Expansion, retention key to economic development, Scotland County, NC, Economic Development executive Greg Icard addresses the process and timeline for the retention and growth of one of its local businesses – FCC North Carolina – over a period of 12 years.

What started out as a facility in 2002 after a promised $10 million investment two years earlier became an investment of over $100 million today. Long-term…tremendous growth. Part of that growth is due to the fact that the business acquired a new, very large customer – Ford Motor Company. So the local investment and jobs grew as the local business grew.

This basic fact goes to the core strategy of an effective BRE Program. First, think long-term. Second, build knowledge of and relationships with local businesses, identifying retention drivers, risk of investment/jobs loss. Third, address the retention drivers to retain. Fourth, continually position yourself to be the answer when the question of how and where to expand is asked.

To succeed in the Economic Development world, it’s not just about bringing new businesses to town; it’s largely about what you do to keep and grow with the businesses you already have in town.

Keep Jobs and Parlay On.

Did you like this post? Check out other BRE-related posts at http://brebuzz.com/bre-blog-posts


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