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Business XChange transforms success

Gold Coast businessman Pete Nicholls is out to improve customer service standards and help small businesses grow Australia-wide, pharm following the launch on July 1 of the Localtag Business XChange, which Nicholls says will help businesses avoid the pitfall of spending money on unnecessary marketing in order to make for an inferior product or customer experience.

Nicholls is bringing a process that large corporates like Telstra, Apple stores and American Express have used for years, called the Net Promoter System (NPS). It uses a series of questions, such as “On a scale of 0 to 10, how likely are you to recommend us to a friend or colleague?”, to help businesses measure who their most loyal and least happy customers are, and what they want.

Pete Nicholls said independent studies revealed that bad customer service was costing companies millions of dollars each year. “A Bain and Co study found that a 5% increase in customer retention can increase profits by 25 to 95%,” He said. “We want to establish a best practice community on the Gold Coast and around Australia, where everyone runs NPS, bringing innovation to small to medium businesses.”

After working in customer service, hospitality and IT with companies such as Cisco, Quality Inns Group and Dimension Data for 27 years, he said he was sick of seeing businesses waste money on marketing to make up for sub-standard customer service.

“Small businesses are the backbone of employment and the front line of the local community,” he said. “Wouldn’t it be great if businesses in Australia regained our Customer Service reputation and strived to innovate according to customer feedback? This will also increase staff motivation, engagement and retention.”

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