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.
By Dipo Olowookere
The last trading session of the week on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note with a 0.26 per cent growth on Friday.
It was the first trading day after the two-day break observed on Wednesday and Thursday for Sallah celebrations by Muslims.
Market participants returned to Customs Street yesterday in high spirits, though keeping an eye on happenings in the macroeconomic environment.
This resulted in the market breadth index closing bearish after recording 32 price gainers and 33 price losers, implying weak investor sentiment.
Sovereign Trust Insurance and Zichis gained 10.00 per cent each to sell for N2.75 and N33.00 apiece, International Energy Insurance rose by 9.98 per cent to N4.52, McNichols grew by 9.85 per cent to N8.70, and Aradel Holdings increased by 9.59 per cent to N1,933.80.
Conversely, the trio of CAP, Austin Lax, and Premier Paints lost 10.00 per cent each to settle at N179.10, N3.96, and N33.75 apiece, LivingTrust Mortgage Bank decreased by 9.89 per cent to N4.01, and John Holt fell by 9.84 per cent to N16.95.
As for the performance of the key market sectors yesterday, the banking space shed 2.51 per cent, the consumer goods index depleted by 1.26 per cent, and the industrial goods sector tumbled by 0.05 per cent.
However, bargain-hunting raised the energy segment by 4.38 per cent and lifted the insurance counter by 0.86 per cent.
Consequently, the All-Share Index (ASI) closed higher by 646.63 points to 250,385.47 points from 249,738.84 points, and the market capitalisation improved by N415 billion to N160.509 trillion from N160.094 trillion.
A total of 1.2 billion stocks worth N43.4 billion exchanged hands in 93,626 deals during the session compared with the 564.1 million stocks valued at N27.2 billion traded in 65,666 deals in the preceding session. This showed that the trading volume, value, and number of deals went up by 112.73 per cent, 59.56 per cent, and 42.58 per cent, respectively.
Fidelity Bank ended the day as the busiest equity with a turnover of 483.0 million units valued at N8.7 billion, Access Holdings transacted 133.3 million units worth N3.2 billion, The Initiates sold 81.7 million units for N2.2 billion, Chams exchanged 43.9 million units valued at N173.8 million, and Dangote Sugar traded 28.4 million units worth N2.0 billion.
By Adedapo Adesanya
The Naira returned from a two-day break on Friday, May 29, stronger against the United States Dollar by 16 Kobo or 0.01 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX), trading at N1,375.25/$1 compared with N1,375.41/$1 it was exchanged on Tuesday.
The local currency also appreciated in the same market window against the Pound Sterling during the trading session by N3.62 to sell for N1,848.62/£1 versus N1,852.26/£1, but lost N2.16 against the Euro to close at N1,601.48/€1 compared with the previous rate of N1,599.32/€1.
The official forex market was closed on Wednesday and Thursday for the Sallah break.
A look at the GTBank FX desk showed that the Naira gained N4 against the Dollar yesterday to quote at N1,379/$1, in contrast to Tuesday’s closing value of N1,383/$1, and at the black market, it improved its value by N5 to N1,380/$1 versus the preceding session’s N1,385/$1.
Market analysts noted that the Nigerian Naira outlook remains stable, citing the latest round of FX inflows, which have lifted gross external reserves to $49.259 billion. Some projected that the domestic currency will close the first half of 2026 stronger as the Central Bank of Nigeria (CBN) continues to inject FX inflows into the official market.
Also supporting expected stability is the continued government signal of growth. In his third year in office, in a speech on Friday, President Bola Tinubu inherited severe economic and structural challenges in 2023, including exchange-rate distortions, which he said have since been reformed.
“Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than N8 trillion over three years to rent-seeking and speculative practices.”
According to the president, the situation required urgent and courageous decisions to avert a deeper economic crisis and fiscal collapse.
In the cryptocurrency market, US-Iran ceasefire hopes have failed to pull Bitcoin (BTC) and Ethereum (ETH) higher, with the two largest cryptocurrencies losing almost 3 per cent as cooling spot bitcoin ETF inflows reinforced the pullback. BTC dropped 0.3 per cent to sell for $73,456.95, while ETH dipped 0.1 per cent to trade at $2,013.29.
Further, TRON (TRX) went down by 2.1 per cent to $0.3427, and Cardano (ADA) dipped 0.4 per cent to close at $0.2348.
On the other hand, Binance Coin (BNB) jumped 4.7 per cent to $667.52, Ripple (XRP) grew by 2.00 per cent to $1.34, and Solana (SOL) expanded by 0.1 per cent to $82.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
By Adedapo Adesanya
The crude oil market shrank by more than 2 per cent on Friday as traders awaited a possible ceasefire deal among the United States, Israel and Iran.
Brent crude settled at $92.05 a barrel after it lost $1.66 or 1.8 per cent, while the US West Texas Intermediate (WTI) finished at $87.36 a barrel, down $1.54 or 1.7 per cent.
The latest reports as of Friday suggest that the US and Iran are set to extend the ceasefire, which will include the reopening of the Strait of Hormuz. However, such an extension would need to be endorsed by U.S. President Donald Trump.
The US and Iran reportedly reached a tentative agreement on Thursday to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz.
The three-month war between the US and Iran has been marked by frequent chatter of an impending end to the conflict that would open the crucial Strait of Hormuz, used to transit one-fifth of the world’s oil and gas supply. Even with both sides suggesting an agreement was forthcoming, their characterisations of the deal were still somewhat different.
The closure of the waterway has driven energy prices sharply higher worldwide. Recent sessions have been volatile, with swings by as much as $6 for both benchmarks on conflicting signals over a potential reopening of the strait.
Traffic through the maritime chokepoint remains a small fraction of levels before the conflict, with analysts saying a reopening of the waterway would offer some immediate relief to the oil market, but a recovery is still uncertain.
Japan, which relies heavily on oil from the Middle East, last month registered a 66 per cent drop in crude oil imports compared with April last year.
Prices plunged by 19 per cent in May as traders and speculators bet on an extended ceasefire and an eventual US-Iran deal despite the biggest physical supply disruption in history. The slump in prices in May follows the biggest monthly surge in history in April, when oil rallied amid the worst supply disruption ever.
Traders spent most of the week looking beyond current supply shortages and focusing on the possibility that a ceasefire agreement could eventually bring barrels back to market, leading to selloffs.
US crude, petrol, and distillate stockpiles fell last week, according to the Energy Information Administration (EIA), as demand from refiners and consumers rose, while exports fell by 1.16 million barrels per day to 4.4 million barrels per day.
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