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Communication Improves Profitability

One of the most undervalued assets that can determine the level of success for any individual or business is communication. The ability to communicate effectively can open doors that would otherwise be unavailable. Communication is that interpersonal soft skill that helps to develop advantageous connections and networks which can catapult your organization’s reputation and success. Effectiveness in communication helps to build collaborations, solve internal problems, build close relationships with clients and customers and elevate your brand’s perception.

Most importantly, developing your business’s communication skills can improve your profit potential. Many businesses miss their opportunity to grow by overlooking the importance of effectively communicating internally and with their customers. A business whose line of communication isn’t effective at informing all staff members eventually fails. A business that doesn’t invest in educating and listening to their customers eventually fails. A business that cannot accurately define themselves to the public eventually fails. Communication is paramount if you want to see a development in your organization’s growth.

But how exactly does communication improve profitability?

Communication Improves Productivity

Effective internal communication in an organization seeks to transfer concise information to the right people in a way that is time efficient and mitigates misunderstandings. Companies that do not have a solid internal communication structure can waste a lot of precious money making time clearing up misunderstandings, correcting mistakes and handling interpersonal tensions between employees.

Clear communication means clear instructions for employees and for an employee to feel empowered in their position, they need to know exactly what is expected of them which is only translated through effective transmission of information. Good internal office communication can also help to foster a healthy culture in which employees and management can thrive. It improves transparency and employees feel more valued when they get to operate in a space where they can openly discuss ideas and grievances with the confidence that it will be handled in a positive and respectful manner. This simple shift in a company’s culture has the potential to elevate employee satisfaction. And as we all know, a happy staff is a productive staff.

Lowers Operational Costs

Communication is now on the forefront of technology with new softwares that are designed to streamline the flow of communication. Everything from electronic team scheduling programs to software that simplify job management to improving workplace safety are helping business owners to free up more time to focus on their core priorities. This new wave of technology needs to be embraced for any business to move forward in this era.

Effective communication skills can also help to lower costs by giving an organization a clear understanding of exactly what it needs and what it doesn’t. Overspending is a chronic result of poor communication where owners and management do not have a transparent view of where dollars actually need to be spent. With an effective communication line in place, an organization’s internal needs will be made obvious and there will be little to no guessing on where money should be spent.

Builds Stronger Customer Relationships

Your customers are everything. Studies repeatedly show that retaining a strong relationship with a customer is not only more cost effective but more profitable than recruiting a new one. Communication is key when developing these relationships. Customers will have questions that have to be answered, complaints that have to be resolved and needs that have to be met in order for them to stay loyal to your business. The magic ingredient that ensures that all of this will happen is communication. Your strong communication skills will not only convey your brand’s message outwardly, but it will also allow for a customer to feel heard and understood allowing the customer to feel free to trust your business and services. Developing strong active listening skills, being able to consistently resolve conflicts and speaking in a way that makes your customer feel like you have listened to them is what will keep them coming back to spend more of their money on you.

How to Improve Communication Skills

If you think that you or your business is ready to invest in building more substantial communication skills then Goalmachine invites you to join us for 2020 Insight which is our 30 Day Communication and Stress Management program just in time for you to have a new skillset for the new year! We are partnering with EBS to give you not only the skills you need to communicate more effectively but we are offering 30 Days of habit forming challenges to make stress-free effective communication a part of your professional skill set. The program starts with one day of intensive training followed by 30 Days of simple but effective challenges.

To register Whatsapp +1(721) 522 5121, Visit any EBS location in the Orange Grove Shopping Center or on the Bush Road, or Inbox GoalmachineSXM on Facebook. Program starts on December 7th and price is $395 per person. Registration deadline is December 2, 2019 and space is extremely limited so please register early to reserve your spot.

Looking forward to walking alongside with you on your professional journey GoalGetters!!!

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