Economy
How to Keep Your Business Running After Working Hours
By Otori Emmanuel
Most offices operate their days from 9:00 am to 5:00 pm, which only lasts during the daytime and because the cost of running a shift by servicing the office at night with an equal number of staff, if need be, might be cost-intensive, most organizations suffice to the normal routine of running an office by the daytime.
The concern is that our customers don’t sleep, when they want a solution, it can be urgent and important and the earlier they speak to someone, the more relief they get that their solution is on the way and that they can beat the deadline.
Knowing that most offices are closed after 5:00 pm and on weekends makes customers want to explore other options of reaching out to the service providers. With a business whose focus is centred on customer satisfaction and an amazing experience, there are options to keep your office running after working hours.
- Take advantage of social media pages
To run a business effectively, our online presence helps the most and involves our presence on social media channels by creating pages.
Facebook pages, for example, can be automated to reply to messages the moment a user sends an enquiry. It is made to generate a predetermined customized message. Facebook also lets the person know the possible time range within which to expect feedback and this is made possible based on the time it took the business to reply to a message, which provides a summary of the possible time of reply to the customer. This keeps the expectation of the customer that they would be replied and when the reply eventually comes, it proves the assertion that they are dealing with an organization that is customer-centric regardless of whether they are at work or not. In fact, the message can be crafted in such a way to contain a number that can be used for emergency contact.
Typically replies in a few minutes
————————————————————-
Hi, Thanks for messaging us.
We’ll get back to you soon first name, last name (of the sender)
- Auto-responder
An auto-responder is a system that organizations use to respond to a user that sends a message via email whether they are out of the office, on leave, on a special assignment or outside the country of operation, with a message informing the person of the possibility of when they are likely to read and reply their message or an option of reaching another individual in the organization that could help process their enquiry. The line below is an example of the use of an automated message using an auto-responder
Thank you for your message.
I will be out of the office until Monday, August 20, 2022.
If this is an emergency, please contact first name, last name on
[email protected], otherwise, I will reply you on my return.
Thank you.
Yours Sincerely,
First name, last name
- A 24-hour office phone
I once read in an online forum where a customer needed a product for use first thing on a Monday morning and tried to establish contact with the supplier that they researched online, they found the office lines and called and it kept ringing without anyone picking at them the other end. They kept on researching and found another supplier who they called and got an immediate response and delivery of the raw materials to start the production at the agreed time. What is the point of having an office phone that lies in the office without anyone to engage callers? I think today’s definition of an office defies the limitation to place and gives us a meaning that refers to the person and processes which can be operated from any place and at whatever time of the day. I am of the opinion that every phone that an office use should be a mobile phone with a person that handles it and returns enquiries at any time of the day, even if it means the company would provide the handler with the opportunity of benefiting from the usage of the phone from the provision of airtime and data services, it is worth all the effort to keep the business running all day. Although the telephone etiquette still applies.
- Online Support Services
With the goal of maximizing the online platforms of an organization, all platforms must be considered. Websites should be integrated with an online support system that can be installed on a PC (Personal Computer) and on a mobile phone, which can be accessed with internet services at any time of the day.
These chat boxes are also automated to reply to messages and the user gets a notification when there is an enquiry to be answered.
- Integration of Chatbots
Chatbots function with the integration of artificial intelligence to answer questions based on the similarity, pattern or keywords consistently used by customers. This integration works as a temporary alternative to provide basic information before a human eventually connects with the customer when the chatbot has exhausted its ability with no respite to the demands of the customer. A full technologically integrated team is needed to execute this across platforms.
A sustainable business is built around the speed of attending to customers’ needs within a reasonable timeframe, the communication that helps to flatten the gap, concise information needed to make an offer and meeting with the expected date or time of delivery of the customer. When all these are in cohesion, a business can definitely become a household name.
Economy
UBN Property Triggers 0.22% Loss at NASD OTC Exchange
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.22 per cent decline on Monday, January 20, with the market capitalisation shedding N2.35 billion to close at N1.073 trillion compared with the preceding session’s N1.075 trillion and the NASD Unlisted Security Index (NSI) going down by 6.79 points to wrap the session at 3,105.12 points compared with 3,111.91 points recorded in the previous session.
It was observed that the loss recorded on the first trading day of the week was triggered by UBN Property Plc, which crashed by 20 Kobo to trade at N2.00 per share versus last Friday’s N2.20 per share.
However, the share price of Industrial and General Insurance (IGI) Plc went up by 4 Kobo to 40 Kobo per unit from 36 Kobo per unit, it could not stop the bourse from going down at the close of transactions.
The activity chart showed that on Monday, the volume of securities traded by investors increased by 57.9 per cent to 767,610 units from the 486,215 units traded in the preceding session, while the value of shares traded yesterday slumped by 17.7 per cent to N2.3 million from the N2.8 million recorded in the preceding trading day, as the number of deals declined by 14.3 per cent to 12 deals from the 14 deals carried out in the previous trading day.
At the close of transactions, FrieslandCampina Wamco Nigeria Plc remained the most active stock by value on a year-to-date basis with the sale of 4.1 million units worth N162.9 million, followed by Geo-Fluids Plc with a turnover of 9.1 million units valued at N44.0 million, and 11 Plc with the sale of 55,358 for N14.5 million.
Also, Industrial and General Insurance (IGI) Plc closed the day as the most active stock by volume on a year-to-date basis with 25.3 million units sold for N5.9 million, Geo-Fluids Plc came next with 9.1 million units valued at N44.0 million, and FrieslandCampina Wamco Nigeria Plc with 4.1 million units worth N162.9 million.
Economy
Naira Weakens to N1,550/$1 at Official Market, Gains N5 at Black Market
By Adedapo Adesanya
The value of the Naira weakened against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, January 20 amid FX pressures associated with this period.
Most people who came into the country for Christmas and New Year holidays are already going back and are in need of forex, putting pressure on the local currency.
Also, the poor performance of the domestic currency could be attributed to end to the 42-day access granted by the Central Bank of Nigeria (CBN) to Bureaux de Change (BDC) operators to buy forex at official price.
According to data from the FMDQ Securities Exchange, the Nigerian Naira lost 0.16 per cent or N2.47 on the greeback yesterday to sell at N1,550.05/$1, in contrast to last Friday’s rate of N1,547.58/$1.
Similarly, the Naira slumped against the Pound Sterling in the spot market on Monday by N23.39 to trade at N1,906.98/£1 versus N1,883.59/£1 and depreciated against the Euro by N23.14 to sell for N1,613.48/€1 compared with last Friday’s N1,590.34/€1.
However, in the parallel market, the Nigerian currency improved its value against the Dollar during the session by N5 to quote at N1,665/$1 compared with the previous session’s N1,670/$1.
As for the cryptocurrency market, it turned red yesterday as the US President, Mr Donald Trump, didn’t bring up the much-expected subject of crypto in his inauguration speech on Monday afternoon.
Mr Trump had promised a far more friendly crypto policy stance than the previous administration but in the long speech that announced his plans in the coming days, he didn’t make mention of Bitcoin or crypto.
Just over the weekend, the President ignited a speculative frenzy with the Friday evening launch of the Trump meme coin, which was shortly followed by a meme coin associated with his wife, Melania.
Dogecoin (DOGE) crumbled yesterday by 6.3 per cent to $0.3419, Solana (SOL) slumped by 4.7 per cent to $235.32, Cardano (ADA) fell by 3.6 per cent to $0.9777, and Litecoin (LTC) moderated by 1.9 per cent to $114.98.
Further, Ethereum (ETH) went down by 1.7 per cent to $3,241.36, Binance Coin (BNB) retreated by 1.4 per cent to $693.30, Ripple (XRP) depreciated by 1.2 per cent to $3.06, and Bitcoin (BTC) tumbled by 0.8 per cent to $101,746.99, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
Economy
Oil Prices Fall as Trump Announces Changes in US Energy Policies
By Adedapo Adesanya
Oil prices settled lower on Monday after Mr Donald Trump was sworn in for a second time as President of the United States.
On assumption of office, Mr Trump declared a national energy emergency immediately, promising to replenish strategic reserves and export American energy worldwide.
Consequently, Brent crude futures went down by 64 cents or 0.8 per cent to settle at $80.15 per barrel and the US West Texas Intermediate crude futures depreciated by $1.30 or 1.7 per cent to trade at $76.58 per barrel.
Mr Trump and his allies have signalled they would use the authority to rapidly approve new oil, gas, and electricity projects that typically take years to permit, and during his speech said he plans to unleash new oil and gas development on federal lands while reversing the Biden-Harris administration’s de-growth climate regulations.
Market analysts noted that while many of the executive actions will simply kick off a lengthy regulatory process, they extend by a large degree to the US energy industry, from oil fields to car dealerships.
These also underscore Mr Trump’s determination to reorient federal government policy behind oil and gas production, a sharp pivot from Biden’s efforts to curb fossil fuels.
He also said in his inaugural speech that he would impose tariffs and tax countries and promised an overhaul of the trade system.
Last week, prices rose for a fourth-consecutive weekly gain after the Biden administration imposed sanctions on more than 100 tankers and two Russian oil producers. This led to a scramble by top buyers China and India for prompt oil cargoes and a rush for ship supply.
Meanwhile, dealers of Russian and Iranian oil sought tankers not under sanctions for oil shipment.
While the new sanctions could cut supply from Russia by nearly 1 million barrels per day, market analysts noted that recent price gains could be short-lived depending on Trump’s actions as the new American president promised to help end the Russia-Ukraine war quickly.
Russian President Vladimir Putin congratulated Mr Trump on taking office hours, saying he was open to dialogue with the new US administration on Ukraine and nuclear arms.
Pressure was reduced based on easing tension in the Middle East after Hamas and Israel exchanged hostages and prisoners on Sunday which marked the first day of a ceasefire after 15 months of war.
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