The customer is always right… right?
By Louise Botha – Recruitment Specialist Customer satisfaction is the ultimate success in business. A happy customer is a returning customer. You will get repeat business, good reviews, and recommendations which all grow your reputation and brand your company to the world. Is the customer always right? To them, they need to feel that they are – or treated with respect when not. That means that they need your guidance and opinion on the expertise within the field of what they hired you to do. So, how do we keep them happy if or when they are not always right in our professional opinion? You need to adapt your style and approach that you use to communicate with each of your customers as they are all different. You need to nurture and build on your customer relationships in order for them to last. Apart from building long-lasting relationships, there are many other benefits: Ways to keep your clients happy Listen – To build any strong relationship -personal, business, social – you need to listen. Give the other party the time to share their thoughts and needs. You need to listen carefully to understand them. Avoid being overpowering with words and use your listening skills to identify where and how you need to respond to make an impression. Regular updates and communication – Just because you have established the relationship with your customer now, does not mean that you just leave them and wait for them to approach you when they need you. They might need you, even when they don’t know it yet. Maintain your relationship with regular updates and checking in by communicating effectively. Be an expert – Always do your homework! Research! You don’t want to be left with no words or answers when you approach or communicate with a client. You will save time for you and your client if you already know their background and idea of their requirements as well as what is happening in their sector. Leave them impressed. It will show your expertise and make them feel that they are in good hands. Do not rely on the client to provide you with all the info, ask questions and cover what you were not able to find. Manage expectations – Never overpromise and underdeliver. Be open to your client on what are reasonable expectations. Many clients can be demanding, and you can be tempted to give in to that and promise results before you know you can attain them. Explain to the client why it will take longer, if so, and that it will ultimately improve the service you offer to them to make them feel secure that you can commit to the deadline. Personalise your approach – Not all clients are the same, so you will have to personalise the needs of each one. Where you identify the way you work with one, can help you to handle the next. This will make the client feel worthy and that you are not just offering a service, but a partnership and interest in their business. Feedback – Do not underestimate the need for you to get a client’s feedback. You might be moving forward. But when you have the relationship, it opens a door where there can be transparency and feedback on your performance and service can be shared with ease. Knowing where you can identify and work on areas will improve your service and allow you to be better than the best! In the end, it’s all about regular communication – the long term benefits will surprise you.
Africa’s tech revolution needs you – come forge connections, influence policy and accelerate growth
From AI-driven healthcare to blockchain-powered financial inclusion, the continent is rewriting its narrative as a global tech powerhouse. But to sustain this momentum, collaboration, innovation, and strategic dialogue are non-negotiable. Sentech Africa Tech Week 2025, taking place from 3–4 June, at the Century City Convention Centre in Cape Town, is where Africa’s brightest tech minds converge to shape the future. This isn’t just another conference, it’s a catalyst for growth, a platform for disruptive ideas, and a launchpad for partnerships that will redefine the continent’s digital landscape. Why your company can’t afford to miss this 1. Tackle Africa’s most pressing tech challenges: 2. Unlock cutting-edge opportunities: 3. Network with decision-makers and disruptors: Rub shoulders with ministers, CIOs, global cloud leaders, and rising startups. Forge alliances in the “Global Alliances, Local Impact” session, where cross-border partnerships are redefining Africa’s digital economy. 4. Position your brand as a leader: Think your startup is the next big thing? Then the Pitching Den is for you. Sessions that will redefine your strategy Why sponsor, exhibit, or attend? Sponsors: Gain unparalleled visibility. Position your brand as a pillar of Africa’s tech ecosystem Act now—Africa’s future won’t wait. The clock is ticking. Secure your spot at the forefront of Africa’s digital revolution. Register now: https://qkt.io/MCKP8m
How do we define leadership in a competitive world?
By Daniel Makoni, Managing Director of wCyber There is little doubt in anyone’s mind that the market today is challenging. Companies are looking for the competitive advantage, customers are trying to get more for less, and growth continues to be slow. It’s a tough landscape, but it is one that business leaders can navigate strategically by taking the right steps in the right directions. These are the times that define leadership, and can allow for entrepreneurs and executives to reshape their companies and the ways in which they do business. And these are the questions that you should be asking to help you refine your business and your approaches: 1. Is my product or service genuinely adding value to the customer? This is the most important question. Is this work, this solution, this service actually solving a real problem? Is it relevant and necessary? A business that can answer this question clearly is defining its market and its target. Once you have a clear understanding of what needs to be done, the how gets much easier. 2. Do I have the right people in the right roles? You need the right people doing the right job if you want to fulfil the needs of your customers. Customer service expectations only grow as the relationship grows and this is rapidly becoming a key differentiator, regardless of market. To serve your customers the quality they expect, the motivation of your people is key. Focus on building your internal relationships as much as your external ones. 3. How am I using the technology at my disposal? With the right technology, you can either cut costs or increase revenue. With the right tools, you can take advantage of opportunities that may have previously slipped past, and you can add an edge to your efficiencies and productivity. There are many examples of companies taking tech to the next level – from Amazon using drones to a sole trader adopting a point-of-sale system that helps them better serve their customers. Getting the right tech and using it properly will give any business a boost. 4. Is the business model viable? There isn’t much value in running a business that isn’t sustainable, and sustainable means financial and impact-based returns. Always check if the operations of your business are achieving what they set out to accomplish and have a finger on the pulse of your financial health. Ensure that financials, operations and systems are healthy to maintain a sustainable and successful business. 5. Should I pivot or stay the course? This is, of course, the million rand question, and one of the toughest decisions to make for a business. It needs to be based on both empirical and intuitive evidence and with an agile mindset. Agile is not just a concept, it is an understanding and merging of all considerations. The ability to constantly adapt the business is something that every leader should be able to do. Assess the market, stay abreast of the events taking place, and learn as many lessons as possible from the pandemic. Take lessons from those who succeeded – AirBnB introducing experience tours – and those who failed – companies that refused to go digital. And sometimes, just recognise that timing, planning, people and technology are good enough to ensure that your business can stay the course to success.
How HR can make strategic decisions for your organisation
By Liquid Thought Despite seeing it in company values and website pages, how many businesses can clearly define what it means to be people-focused? Sustainable innovation can be defined as optimising a business at a people level and to achieve it requires a spark of ambition from leaders. This article unlocks smart insights that spotlight HR as a vehicle for sustainable innovation and how creative agencies are leading the way for corporations to follow in this regard. As you navigate, you’ll discover; Knowledge, action, and direction: Leaders who pioneer Human-centred leadership is defined as “leadership that values people.” But how does this manifest itself on a daily basis? We’re seeing how the concept shapes communication, and perspective, and unlocks a sense of trust. It modifies how we approach problems and find progress. “A leader is one who knows the way, goes the way, and shows the way.” We’ve seen how a setup encourages collaboration and an environment has the potential to stimulate employees to be the best version of themselves, but a convenient and comfortable workplace requires one to champion the basics first, then infuse them into your results. Resourceful spaces and personalised experiences are built by transparent and inclusive leaders who constantly steer a balanced ratio between their people, the work they produce and how that evolves their company’s reputation. To be more inclusive and authentic with the employees you serve, let’s take a look at three insights you might want to jump onboard with: We can easily camouflage ourselves in the digital world, but on the other side, there will always be people. Although the notion of humans as a resource – hence “HR” – has prevailed for too long, the realisation that people are more than a resource to be exploited, and rather an asset to be nurtured, is fast gaining traction amongst the savvier companies. Supervising purpose to accelerate growth: A mission statement generated by people HR has emerged as the compass for modelling attitudes and establishing a rich workplace filled with various personalities. To achieve this, HR leaders are diving deeper into data to further understand an employee’s experience. Being authentic in today’s world is more crucial than ever, and one way to do this is by having a purpose based on an ethos, unique to the brand, vital to all stakeholders, and aligned with values. Knowing someone’s triggers as well as their strengths improves communication and helps to build a motivated team; it is at this point that the ‘why’ begins to take shape and a purpose starts to spark. Employee pride, value-based decision-making, behaviour, goal-setting, and a sense of purpose all provide meaning to the work being done, which helps workers get through late nights, tight deadlines, and personality conflicts, or simply go that extra mile when they have the potential. To get a headstart, it’s essential to determine each coworker’s unique style in order to influence and connect with them on a deeper level. After that, tweak your behaviour and adapt the corporate behaviour in response to get the best out of each person. Enhancing your business IQ: Great teams don’t hide from mistakes, they embrace them. An HR specialist can open doors and create synergies with the workflows they design. They have what it takes to champion people to deliver with skill and commitment. Removing outdated methods and replacing them with an iterative-learning path that broadens their skill-set while boosting their self-assurance and helping you achieve mastery. Instead of continually nurturing from the top down, high-performing organisations and well-oiled teams do so in reverse, from the bottom up, as a means of creating transferable skills. Workplaces such as this are driven by innovation and in order to do so, depend on their employees, and their success is contingent on how they treat the people who deliver the results. A cultural lens must constantly be used in HR practice when deciding how to alter one’s tone and internal mechanics. It involves being flexible and agile in how people work, as well as experimenting and testing to the point where lessons from mistakes are used in future efforts to improve performance. It’s the concept of a fertile environment that is constantly under construction, and in a highly competitive market, this can only distinguish your product from the rest. To conclude How you make holistic wellness a key component in your workplace is what creates an environment that thrives with happy people. Happy people are more productive, create stronger, and more cohesive teams, and the minute you begin checking the pulses of employees is the minute you start accelerating the desire to work for your company. HR’s integral role in all of this comes from optimising a business at the level of people and in doing so achieving so much value for an organisation. HR’s involvement in strategic decision-making means wearing the leadership hat and in doing so, can accomplish: Liquid Thought is a collective of Engineers, Creatives, Makers and Marketers – curious, talented and agile humans on a mission to unlock clients’ digital potential. The agency has been working on a range of leading corporates and impactful start-ups for over 21 years.
Ergonomics at home and work: Setting up a pain-free workspace
By Sue Ramauthar, Physiotherapist Let’s face it—most of us weren’t thinking about ergonomics when we hastily set up our home or office workspace when COVID hit. But as the backaches, neck stiffness, and wrist pain creep in, it’s clear that poor workstation design is taking its toll. The good news? You don’t need an expensive chair or a fancy sit-stand desk to fix it. Small, smart changes can go a long way in creating a comfortable, pain-free workspace—whether you’re in a high-rise office or working from the kitchen table. 1. Your chair setup Bad habit: Slouching or sinking into your chair like a sack of potatoes. Quick fix: Sit back in your chair with your lower back supported—if your chair lacks lumbar support, roll up a towel and place it at your lower back curve. Your feet should be flat on the floor (or on a box if needed), and your knees level with or slightly below your hips. 2. Adjusting your work surface Bad habit: Hunching over a desk, and reaching forward to type. Quick fix: Your elbows should be at a 90-degree angle when typing, on an armrest, with wrists in a neutral (straight) position. If your desk is too high, raise your chair and use a footrest. Too low? Prop your laptop or monitor up with books. And consider using a separate keyboard. 3. Screen strain – Finding the perfect view Bad habit: Peering down at your screen causing pressure into your neck. Quick fix: The top of your screen should be at eye level to prevent neck strain. Use a laptop stand (or a stack of books) to elevate your screen and pair it with an external keyboard and mouse for better posture. 4. Mouse & keyboard – Hand position matters Bad habit: Reaching too far for your mouse or keyboard. Quick fix: Keep them close—your upper arms should be relaxed at your sides. Consider a wrist rest or use a folded towel to keep your wrists in a neutral position and avoid awkward bends. 5. The standing and movement breaks Bad habit: Sitting for hours oblivious to the impact on your body. Quick fix: Set a reminder to stand, stretch, and move every 30–45 minutes. Try the 20-20-20 rule: Every 20 minutes, look at something 20 feet away for 20 seconds to reduce eye strain. 6. Lighting & glare: Save your eyes Bad habit: Squinting at a screen like you’re reading fine print in dim light. Quick fix: Position your screen to avoid glare, use task lighting, and adjust brightness to reduce strain. Bonus tip: Blink often and stay hydrated—your eyes will thank you. 7. The “Phone Cradle” problem: Stop the shoulder squeeze Bad habit: Pinning your phone between your ear and shoulder when taking calls. Quick fix: Use a headset or speakerphone instead—your neck muscles aren’t built for multitasking like that! The bottom line Ergonomics doesn’t have to be complicated or costly. By making these small tweaks, you can dramatically reduce your risk of work-related aches and pains. And remember—keep moving throughout the day! Sue Ramauthar is a corporate wellness practitioner and physiotherapist at SuedeWellness
Innovation meets opportunity: Apply now for the 2025 Sentech Africa Tech Week Pitching Den
By Topco Marketing Calling all visionary African tech entrepreneurs! If you’re ready to showcase your innovation, connect with top investors, and win life-changing opportunities for your startup, Sentech Africa Tech Week 2025 is your stage. The Pitching Den is back, bigger and bolder, and we’re inviting you to step into the spotlight. You will have the opportunity to share your idea and battle it out against some of Africa’s brightest minds in tech, with a powerhouse investor panel and an audience filled with key decision-makers in the sector. Finalists will pitch their ideas live at the Sentech Africa Tech Week Conference in Cape Town, one of the continent’s great incubators for start-ups. Finalists will have access to mentorship, pitch training and have a platform to make connections that could redefine your startup’s trajectory. On offer is a grand prize worth R295 000 and the winner will also receive a 12-month high-value media package, a speaking slot at the 2026 conference, a guest slot on Topco Media’s Business Unusual podcast, and three HAVAÍC consulting courses which could supercharge your growth. The Pitching Den isn’t just a competition—it’s a launchpad. Past finalists have landed funding, partnerships, and media buzz that propelled them to new heights. Whether you’re revolutionising fintech, healthtech, edtech, or green energy, this is your moment to shine. There are three simple requirements: Get your tickets for Sentech Africa Tech Week 2025 The simple four step process Don’t let this opportunity slip away. Sharpen your pitch, polish your MVP, and submit your application today. The road to Cape Town—and to scaling your startup—starts now. Apply now: https://www.surveymonkey.com/r/ATW2025 Got questions? Reach out to marketing@africatechweek.co.za or marketing@topco.co.za for support. Listen to what 2024’s winner had to say on the Business Unusual Podcast Key dates: (Note: Finalists must cover their own travel costs to Cape Town. Apply only if you can commit to attending the live event on 3-4 June 2025.)
Understanding your credit score
By Jessie Taylor More and more South African consumers are accessing credit, according to the National Credit Regulator (NCR). The NCR highlights that the number of consumers with credit agreements has grown, particularly in the first quarter of 2025. As of this period, around 25.8 million credit agreements were in place, with a significant number of consumers holding multiple types of credit. While many individuals rely on credit to manage their finances, there are concerns about the impact of rising debt levels on consumer financial stability. This highlights the need for responsible borrowing, and one tool consumers can use to monitor their credit is their credit score. The basics A credit score is an essential financial tool that reflects your ability to repay debt and manage credit. It’s a number that lenders and financial institutions rely on to assess the risk of lending you money. In South Africa, credit scores generally range from 300 to 850, with higher scores indicating a stronger credit history and a greater likelihood of securing financial products, such as loans and credit cards. However, understanding your credit score and knowing how to improve it can be pivotal for achieving financial stability and unlocking better opportunities. The key factors that influence your credit score include: A credit score differs from a credit report. Your report is a detailed record of your credit activity and contains information about your credit accounts, such as loans, credit cards, and payment history. It also includes details of any defaults or collections on your accounts. Your credit score is a snapshot of your financial behaviour, whereas the credit report provides a comprehensive view of your credit history. To improve your credit score, it’s crucial to monitor both, ensuring that your report is accurate and up to date. In South Africa, checking your credit score is relatively simple. Several services, including financial institutions and credit bureaus, provide access to your credit score at no cost. You can also request a credit report directly from the main credit bureaus. South African regulations allow you to request one free credit report per year from each of the major credit bureaus, ensuring you have access to your information and can address any issues promptly. How to achieve a good credit score A good credit score is key to accessing a wide range of financial products and securing favourable interest rates. It can also signal financial reliability to potential lenders, making you an attractive candidate for loans, credit cards, and even rental agreements. Here are some essential tips to help you build and maintain a good credit score: Pay your bills on time Timely payment is crucial to maintaining a healthy credit score. Payment history is the most influential factor in your credit score, making up about 35% of the calculation. Late or missed payments can significantly impact your score, so staying on top of payment deadlines is essential. Set reminders or automate payments to avoid late fees and potential damage to your credit score. Keep your credit utilisation low Credit utilisation accounts for 30% of your credit score, so keeping your credit card balances well below your credit limit is important. Financial experts recommend keeping your utilisation under 30%. For example, if your credit limit is R10 000, aim to keep your balance below R3 000. A lower credit utilisation rate shows lenders that you are managing your credit responsibly. Maintain a long credit history The longer your credit history, the more insight lenders have into your financial behaviour. The length of your credit history makes up about 15% of your credit score. If you’ve had credit accounts for several years, your score is likely to reflect this stable financial background. Keep older accounts open, even if you’re not actively using them, to maintain a longer credit history. Diversify your credit types A healthy mix of different credit types, such as credit cards, retail accounts, and loans, can contribute positively to your credit score, accounting for around 10%. Having a diverse credit profile signals to lenders that you can manage various types of credit responsibly. However, don’t open unnecessary accounts just for the sake of variety; only apply for credit you truly need. Limit hard credit inquiries Each time you apply for credit, a hard inquiry is made, which can slightly lower your score. Multiple hard inquiries in a short period can make you appear financially unstable, potentially lowering your score. Limit credit applications to avoid unnecessary hits on your score. Soft inquiries, such as when you check your own credit score, do not affect your score. Building and maintaining a good credit score is an essential step in achieving financial well-being. It opens doors to favourable loan terms, lower interest rates, and better financial opportunities. Understanding the factors that influence your credit score and regularly checking both your score and your credit report will put you in a better position to manage your finances effectively. Sources: Old Mutual | Standard Bank | Investec | National Credit Regulator
The reality is that South Africa’s agriculture is thriving
By Wandile Sihlobo Since US President Donald Trump commented about his “imaginary” land grabs in South Africa, some among us have started pushing a misleading narrative that agriculture is under pressure and has been failing for a while. The inept municipalities, poor road infrastructure, stock theft, and port inefficiencies all contribute to this narrative of failure and despair. Stories of the failings of land reform farms also add to this sentiment of regression in agricultural progress. But this narrative is far from the reality of the South African farming sector. Regardless of how experts feel about the state’s capacity and the government’s policy stance since the dawn of democracy, the one undeniable fact is that the sector has grown tremendously – and indeed, not failing. Data from the Department of Agriculture shows that domestic agricultural output in 2023/24 had more than doubled the size in 1994. A few sectors did not drive this expansion, but it has been widespread; livestock, horticulture and field crops have all grown enormously over this period. The higher production levels have mainly been underpinned by new production technologies, better farming skills, growing demand (locally and globally) and progressive trade policy. The private sector has played a major role in this progress. South Africa was the world’s 32nd largest agricultural exporter in 2023, the only African country in the top 40 in value terms. This was made possible by a range of trading agreements the South African government had secured over the past decades, the most important ones being with African countries, Europe, the Americas, and some Asian countries. The African continent and Europe now account for about two-thirds of South Africa’s agricultural exports, and Asia is now also an important market. The agricultural subsectors that have contributed most to this progress in exports are fruits, wine, wool and grains. South Africa now exports roughly half of its agricultural products in value terms, reaching a record $13.2-billion in 2023, according to data from Trade Map. The friction surrounding SA-US relations has added to the view that South Africa may be pushed out of AGOA and that agriculture would be under pressure in such a scenario. However, the reality is that South Africa’s agricultural exports directly to the US account for only 4% of the overall agricultural exports. And even if South Africa could be out of AGOA, that wouldn’t mean a blockage, but there would be tariffs of around 3%, reducing the competition of South African products. To be clear, I am not minimising what is at stake; the agricultural products South Africa exports to the US include citrus, nuts, wine, grapes, and fruit juices, amongst other products. For these industries, an exclusion from AGOA would be negative, but it would not be a collapse of SA agriculture. Beyond exports, the increase in agricultural output over the past 30 years is why South Africa is now ranked 59th out of 113 countries in the global food security index, making it the most food-secure country in sub-Saharan Africa. I recognise that boasting about this ranking when millions of South Africans go to bed hungry daily may ring hollow, as I pointed out after a few presentations where I cited these statistics. However, it is essential to note that many South Africans lack access to food due to the “income poverty challenge” rather than lack of availability due to low agricultural output, as in other parts of Africa. South Africa produces enough food but does not export all of it. A lot is kept domestically for the local market. To address poverty, South Africa must ensure employment and that households have sufficient income to buy food. The disappointing part of South Africa’s agriculture is the exclusion of black farmers. As I argued in my recent book, A Country of Two Agricultures, “Nearly three decades after the dawn of democracy, SA has remained a country of ‘two agricultures’. On the one hand, we have a subsistence, primarily non-commercial and black farming segment; on the other, we have predominantly commercial and white farmers.” The book adds that: “the democratic government’s corrective policies and programmes to unify the sector and build an inclusive agricultural economy have suffered failures since 1994. The private sector has also not provided many successful partnership programmes to foster black farmers’ inclusion in scale commercial production. It is no surprise that institutions such as the National Agricultural Marketing Council estimate that black farmers account for less than 10%, on average, of commercial agricultural production in SA.” This lacklustre performance by black farmers in commercial agriculture cannot be blamed solely on historical legacies. The democratic government is also blamed for its inability to support the development of the new crop of farmers. Fortunately, not all is lost. Plans and programmes are in place to sustainably increase the number of black farmers in the sector. The agriculture and land reform plants are not aimed at replacing the existing farmers with new black farmers. The government has around 2.5 million hectares of land to distribute with title deeds to black farmers. This will be “growing the agricultural piece” without threatening the property rights in the country. South Africa’s agriculture is robust and has room for growth. As we progress toward supporting the sector, there must also be room for young people to be included. Wandile Sihlobo is chief economist of the Agricultural Business Chamber of South Africa (Agbiz) Sources: The Conversation | Democratic Alliance | DALRRD | Economist Impact | The Conversation
VAT? What’s that?
By Koketso Mamabolo What’s VAT? Three simple letters have dominated headlines since the unprecedented delay of the budget speech in February, drawing speculation from all corners of the country, whether it be in the corridors of power, or in homes, on sidewalks, in public transport and all the places where people interact as they go about their lives, where every cent counts. Value-added tax (VAT) is the main indirect tax on goods and services. For most consumers it’s an extra cost we rarely think about unless we look closely at our till slips. We know that when we pay R100 for an Uber trip, for example, R15 goes to the South African Revenue Service (SARS). For Uber, and many other businesses, it’s a cost they factor into the final price, and revenue which they then pay to SARS. Referred to as ‘traders’ or ‘vendors’, who make taxable supplies of more than R1-million per annum, they have to register, and it must be charged on goods and services at every stage of production and distribution, including on importation and imported goods. Why VAT? In her book The Deficit Myth, economist Stephanie Kelton argues that there are four reasons why there are taxes of any kind. If the government allowed consumers to merely spend without taking a portion it could lead to an oversupply of the rand which would mean too much money would be ‘chasing’ too little goods and services. In other words, there would be more money than things to spend it on, otherwise known as ‘inflation’, which is one reason Kelton argues that we are taxed. A second reason, she says, is that tax can be used as a tool to change the distribution of wealth and income. With widespread inequality, it has long been referred to as a possible way of reducing the gap between rich and poor e.g. wealth tax. Governments can also use taxes “to encourage or discourage certain behaviours.” The ‘sin’ tax on tobacco products and alcohol, which always goes up (often above inflation), is an obvious example of a tax which is aimed at disincentivising consumption, as is carbon tax and South Africa’s progressive sugar tax. A fourth reason, one which is behind the increase the Finance Minister has proposed, is that taxes “enable governments to provision themselves without the use of explicit force.” The idea being that if the government stopped requiring taxpayers to pay using their rands there would be less taxpayers leaving the government with less money to spend on public goods and services such as roads, schools, healthcare facilities, and the salaries of the people needed to provide it all. With the initial 2% VAT hike National Treasury was expecting SARS to collect R58-billion in revenue to bolster efforts to fund a ‘growth’ budget which would dish out additional resources for education and healthcare, among other things. While taxes are an old instrument of funding the work of the state, VAT is a relatively new concept in South Africa, introduced only three years before the country became a democracy. Before VAT we had GST, the General Sales Tax, which was introduced in 1978. It began at a modest 4% but rose to 12% in early 1985. Unlike VAT, which has a limited number of goods and services which are exempt, GST was not charged on most food and most services. It was an administrative strain and did not generate much tax revenue. Enter VAT in 1991. What goes up… must go up? VAT was introduced as a way of simplifying indirect tax administration and broadening the tax base, creating a significant source of revenue for the state. It started at 10% and in 1993 was increased to 14%. The next increase was a quarter of a century later in 2018, to 15%. And now, in May this year, if the proposal is accepted, we’ll see a 0.5% increase, with another half a percent on the cards in April next year, pending review. In both instances, 2018 and 2025, the budget deficit has been a significant reason why this indirect tax was chosen as a means for collecting revenue. In short, if the government has to spend more than what SARS collects then they are left with a deficit. There are different schools of thought around how governments can proceed. Kelton belongs in the camp which, as the title of her book The Deficit Myth suggests, argues that the state is the sole issuer of a currency and is able, within certain limits, to fill the deficit by using the power of reserve banks to print money. In economic circles this concept is considered somewhat of a heterodox one, and the more orthodox line of thinking is wary of the inflationary effects of printing money, among other criticisms of what is called ‘modern monetary theory’. The dominant, orthodox strain approaches the deficit with caution, opting to incur debt as a way of filling the gap, and then working hard to service the debt and not incur too much more debt relative to the country’s gross domestic product (GDP). When VAT was first introduced, in 1991, the country’s debt was 33.9% of GDP, according to the World Bank. It had shot up to 59.1% by 2018 and is now sitting staggeringly close to 80%. National Treasury’s approach has been focused on debt as the main issue to contend with and has sought, quite aggressively, to tame it. From the time the ‘Governor’, the late Tito Mboweni, was called in to steer the ship as Finance Minister, through to his successor, Pravin Gordhan, until Hon. Enoch Gondongwana’s current tenure, austerity has been the main instrument used to try and deflate the balloon. There are many economists, like Kelton and the passionate South African economist Duma Gqubule, who would highlight that austerity has clear, negative effects, leaving a shortage of public servants and shortfalls in funding for necessary goods and services. The VAT hike, the Finance Minister explained, the day after “Budget 2.0”,
Your customers need to feel valued and recognised: How to give them the best experience
By Leigh Whiting On customer service and customer experience I believe the two are perfectly interwoven and separate at the same time. Customer Experience encompasses the entire journey, from initial discovery through to after the service is delivered. Every interaction is included and there’s a strong focus on how customers perceive those interactions, and how they feel about the sum of all the interactions. Customer service is just one aspect that contributes to the overall experience. It can be defined as the act of assisting and advocating for your customers before, during, and after the purchase of a product or service. The goal is to make sure that this is done while going above and beyond in solving customer problems and providing buyers with the best option possible. How you can improve customer service Consistently high levels of customer service are essential to making sure that customers become advocates for your business, so this should be a major focus for companies. As a starting point, customer needs must be understood, which means that having comprehensive data on each customer is crucial to being able to determine their key drivers and motivators. Secondly, feedback is crucial, and companies should actively seek and promote customer feedback. I think that in addition, any customer service delivery needs to be underpinned with a set of standards that helps keep an experience consistent. How you can know your customers are having a good experience “Delivering a great customer experience” has become a top strategic objective, a survey by Bloomberg Businessweek found. If a focus is placed on understanding your customers, and there is clear vision for CX in place, I believe that companies are setting themselves up for success, if they don’t lose sight of the entire journey. I think having a method in place for continuous feedback and by implementing metrics is a fair measure of improved customer experience. Reduced support requests are a better indicator of improved experience than Net Promoter Scores for me, personally, just because I believe that people will always seek help to resolve issues, but may not always reach out to share feedback. How to retain customers Companies that build the best customer experiences, by truly understanding customer needs and requirements and being able to respond to these in a rapid way, can see the benefits of that work reflected in the retention rate. There has never been as many options available to consumers as there is now in the subscription economy, so really listening is so important. According to SuperOffice, companies spend six to seven times more on acquisition than retention. The experience you create for your customers—both good and bad—may be the single largest determinant of your retention rate. Customer experience represents a summation of how customers feel about your brand, their interactions with your company at each point in the customer journey. By understanding the overall customer experience, teams can identify what changes should be made to improve that experience in the customer journey, and consequently the retention rate. 57% of respondents in the Zendesk 2020 Customer Experience Trends Report, said that customer service influences their loyalty to a brand. The importance of sustainable consumption Sustainable consumers are often confused with consumers that care about the environment and being eco-friendly. Beyond that though, sustainable consumers hold brands accountable across multiple practices, like respecting human rights and ethical workplace practices. Sustainable consumers matter as they support brands who are open about their values, and this encourages brands to operate sustainably. Putting the customer first “Customer first” is a method for companies to make sure that the customer is at the heart of every decision a company makes, more than products or internal business structures. It can be achieved by proactively seeking ways to deliver a positive experience, and consistently designing and delivering with the customer in mind. This may be an unpopular opinion, especially for someone who advocates client-centricity, but I don’t think the customer always comes first. I think that customers need to be held to account for their actions, interactions, and consumer behaviour. If any of these conflict with a company’s values, a company may want to question whether aligning themselves with that consumer is in their long-term best interest. I’m not saying that a customer first lens of always listening and responding to needs should be discarded, as I strongly believe that this level of customer care makes people feel valued, which results in loyalty to a company. It also means that a journey is designed with the customer in mind, meaning that their overall experience is positive. When we focus on understanding our customers, we can focus on delivering experiences that make them feel valued and recognised, which reduces churn, increases revenue and ultimately leads to higher profits. Single Customer View My foremost experience is that the lack of this single view of the customer and their journey is a major impediment to being able to ensure a positive customer experience. I think that an aggregated view across legacy systems is the best way for companies to overcome this challenge in the short term. That being said, as an experienced design professional AND customer myself, I think that when leveraged correctly, there are massive benefits for the company and the customer. As an example, a customer receiving a relevant offer with a discount voucher – at the right time means they feel understood and rewarded. Simultaneously the company increases sales, loyalty, and advocacy. It should always be mutually beneficial.