How your client loves you

Public Relations or how your client loves you is all about communication and at the heart of communication is people. The values that underpin our relations with friends and colleagues should be the very same foundations that communication professionals base their client relationships on.

A positive relationship with a client is beneficial for many reasons. From an agency perspective, if a client is happy they are more likely to retain your services. In the event of budget restraints, the client may be more likely to look at readjusting the contract rather than simply cutting the budget entirely.  In addition, making your clients happy opens up new business opportunities for the company as the client is more likely to recommend the agency to other businesses.

Build trust

Show your client that you are invested in their success. Trust is the foundation for any prosperous relationship. By showing clients that you want the best for both them and their brand, they will learn to trust you to grow their brand. Trust is about forming a partnership with your client and showing your client you’re 100% committed to their brand and its success.

Communication: Keep clients updated

By having constant and open dialogue, communication professionals can better understand the client’s expectations. Giving the client regular feedback on any developments and campaign results also assists in building trust. Take the time to clarify any questions with the client immediately rather than going ahead without clear guidance to avoid misunderstandings and multiple reverts. Effective communication creates the opportunity to openly discuss successes and failures, as well as to learn from them. By showing  your client that you are delivering will make him or her aware of the important role you play in the company’s brand building efforts.

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Cape Town selected French Tech Hub

Cape Town has been selected by the French Minister of the Economy, Industry and Digital Affairs as the new French Tech Hub. As a result, teh city has joined a group of five other cities already designated French Tech Hubs by France – namely Moscow, New York, San Francisco, Tel-Aviv and Tokyo.

In order to foster the growth of start-up companies and to promote innovation, this project has been supported by a pool of leading French companies like Methys, Orange, Dassault System, Gemalto, Schneider Electric and Efront. They will be able to advise new entrants.

A new web portal has been created to provide information about the local economic partners, the useful contacts and the measures to support start-up companies. Moreover, this French Tech Hub in Cape Town will help South African companies to benefit from all the opportunities of the “French Tech”, in terms of new technologies, investments and also recruitment of new talent.

This initiative takes place in the context of the dynamic growth of French start-up companies, especially in innovation and emerging technologies. According to the Deloitte Fast 500 EMEA annual ranking, France has the largest number of hyper-growth firms in the Europe, Middle-East and Africa area, for the sixth successive year. The French government sustains this growth by structuring the network of start-up companies abroad.

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Entrepreneurs to check cash flow

In light of the challenging economic climate, South African entrepreneurs have been cautioned to buckle up for what is predicted to be a challenging year. In order to be prepared for what may face them in 2016, business owners are advised to dedicate the next few weeks to the planning of budgets and cash-flow, which are both crucial tools required for the survival of any business.

Without a realistic and well-managed budget, a business is much like a boat without sails – without direction and headed nowhere. A cash-flow statement is a vital management tool that should be referred back to constantly, and not only on an annual basis.

Keep it accurate

Overestimated income can however be as harmful as having no budget at all and can provide a false sense of security. One of the best ways for business owners to project realistic income is to base figures on historical sales data, and ensure that deviations from such data are based on realistic factors.

Refer back to historical financial statements

Instead of only conducting an annual financial review, entrepreneurs are advised to refer back to their historical financial statements on a regular basis. This will help predict sales dips and rising expenses before it is too late. Regularly updating a budget and a statement of cash flow will enable business owners to keep an eye on where money is spent.

Simple is better

Budgeting need not be a complicated exercise for business owners and a simple spreadsheet is more than enough to manage an annual budget.

Plan wisely

Sensible budgets will help business owners plan for challenging financial times and provide guidance for when there is extra cash available. Plans on how to cope when the business suffers an unexpected knock in sales or income should also be included.

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Franchise industry optimistic

About 72% of franchisees in South Africa reported an optimistic outlook about the future in the face of economic challenges, according to a 2015 survey by the Franchise Association of South Africa (Fasa). The franchise industry now contributes 12.5% to South Africa’s gross domestic product (GDP) is now at 12.5%. In monetary terms the franchise market is worth an estimated R456bn.

There are 17 business sectors through which franchising contributes to GDP. The largest contributing sectors are quick service restaurants and restaurants (24%), retail (12%) and building, home and office services (11%). Automotive products and services, childcare, education and training and business to business occupy 24% of the franchise market (9%, 8% and 7% respectively).

According to Fasa, there are currently 627 franchise systems or franchisors in South Africa. There are 39 119 franchise stores and most of these are operated by the franchisees, who form the backbone of the franchise industry. The total number of employees in the franchise industry is estimated at 329 245, with 34% being employed in retailing, 27% in fast foods and restaurants, 12% in real estate and 10% in the automotive  sector.

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