A look back at how Happy Customers + Happy Employees = Healthy Business

Retail authority Michael Barker shares his philosophy on how Happy Customers + Happy Employees always leads to a Healthy Business [Podcast first published November 2021]

KEY TAKEAWAYS

Happy Customers + Happy Employees = Healthy Business

• If you reduce employee turn 20% you increase profits by more than 20%
• Happy employees make Happy customers

AVID Insights creates a Health ID score to measure the level of satisfaction and engagement of both employees and customers.

Employee engagement is the #1 driver of customer satisfaction.

95% of products are developed with ZERO research - a huge mistake!

Key areas to research

• Product development
• Shopper satisfaction

Research data must be reviewed for quality to be accurate and useful.

AVID Insights creates a Health ID Score for both shoppers and employees to measure engagement and satisfaction.

If you can take a shopper's Health ID Score up by 10%, they will spend 37% more.

AVID Insights process

• Ask the questions — Right questions, in the right way, to the right people
• Analyze the data - critical
• Display the results - how you display is part of the analysis

AVID is a high value, low cost model for research and insights.

SUGGESTED ACTIONS

Measure employee engagement and create a culture that creates happy employees.

Measure customer satisfaction and listen to their feedback.

Do research and get consumer insights before launching products.

______________________

𝗠𝗜𝗖𝗛𝗔𝗘𝗟 𝗕𝗔𝗥𝗞𝗘𝗥 Since starting a mail-order company while in college (before the Internet was a thing), Michael has spent his entire career in retail-related companies. Whether developing new CPG products, conducting consumer research for national chain stores or marketing ecommerce software, his goal is simple - empower retailers to differentiate themselves and drive measurable results.

While at Momenta, Michael built a consumer research team that drives the company's product innovation and provides shopper insights to national retailers. He now serves as CEO of AViD Insight, a web-based platform that enables retailers and suppliers to leverage real-time consumer and employee insights to drive growth and profitability.

You can reach Michael at mbarker@avidinsight.com or www.avidinsight.com.

𝗖𝗟𝗜𝗡𝗧 𝗢'𝗥𝗘𝗔𝗥, president and owner of Creative Sales Consulting, has worked in the Retail industry since 2000. Clint and his team connect suppliers & retailers in the creative arts industries for stronger relationships and strategic sales growth, in order to bring joy to consumers through artistic creative and decorative products.

For more insightful conversations with leaders in the Arts & Crafts Retail industry visit CreativeRetailTalks.com.

If you'd like to be a guest on the podcast, reach out to Clint O'Rear at Clint@CreativeRetailTalks.com.

______________________

Music:

"Carpe Diem" Kevin MacLeod (incompetech.com)

Licensed under Creative Commons: By Attribution 4.0 License

http://creativecommons.org/licenses/by/4.0/