Measuring Success – The Impact of IT Networking Solutions
Achieving success isn’t always easy, but identifying the most influential metrics can help. The best metrics align with your business goals and drive successful behavior.
Internal factors of success include pursuing your passion and having meaningful relationships. These are not easily quantified but can contribute to your overall satisfaction and happiness.
Increased Revenue
Whether you refer to them as KPIs, goals, or milestones, business success measures are critical to any operation. These indicators can tell you how well a company performs regarding profitability, employee satisfaction, etc. Whether you run a for-profit or non-profit enterprise, these goals can help you set your course and determine how to achieve success.
The IT networking solutions market is growing because of the increased demand for smart devices that support digital transformation initiatives. These transformations require a reliable and efficient network infrastructure to work effectively. Managed network services can offer your business scalable networks with optimal flexibility and speed. They also perform preventative measures to ensure your network always functions at its best.
Networks can become large and clunky, so IT solution providers segregate networks into different zones based on specific functions, like human resources or programming needs. This can make it easier for IT admins to troubleshoot problems, spot cyberattacks, and reduce the risk of failure. In addition, segregation cuts hardware and operating costs by reducing the number of physical network appliances.
Increased Productivity
A significant part of success is being able to work efficiently. Having a reliable network that enables employees to use the resources they need is one of the best ways to boost productivity.
For some people, success is a feeling of overall satisfaction. They may feel that they are doing well at their jobs, in their relationships, and in the activities they participate in daily. For other people, success is more about giving back in some way, whether through charitable donations or volunteering their time to help others.
For businesses, success is usually measured through quantitative metrics like revenue growth, profits, and return on investment. However, many non-financial measures can also measure a business’s success. These include customer satisfaction, which can be measured using Net Promoter Score (NPS) surveys that ask customers to rate how likely they would recommend the product or service to others. Alternatively, some companies measure their success using a triple-bottom-line framework that considers financial, social, and environmental impact.
Better Customer Service
As technology companies focus on providing excellent customer service, it is essential to understand the impact of scalable networking. Customers expect to have their issues addressed quickly and accurately, and they also expect to be able to communicate with representatives through multiple channels.
The company experiences customer churn and lower retention when networks cannot meet these expectations. It is estimated that acquiring new customers is up to 6-7 times more expensive than keeping existing ones. Therefore, establishing and maintaining an effective network is crucial to the success of any business.
Keeping existing customers is critical to this process and requires excellent customer service, including chatbots, live video, or phone support. These tools allow customers to speak with a human who can hear their concerns, diffuse their frustrations, and provide real-time solutions.
This kind of support requires a high-performance network that can dynamically scale bandwidth, which is why UCaaS and other CX-improving software often use SD-WAN for maximum efficiency. This type of network enables companies to reduce friction and improve the customer experience.
Higher Productivity
The question of how to measure success is an important one. It can be easy to get caught up in the material aspects of success — a big house, a nice car, lots of Instagram followers — but it’s important to remember that personal and professional success are not always the same.
For businesses, financial metrics like revenue growth, sales conversion, and return on investment are often the most common measures of success. However, it’s also essential to measure the non-financial achievements that a company achieves. Customer and product success, employee satisfaction, and adherence to goals are all necessary measures of a business’s health.
If you’re unsure how to measure your success, try envisioning the kind of life that would bring you happiness and then set goals that align with those desires. It’s also important to avoid comparing yourself to others, as the only person who can truly judge your level of success is you. Be proud of your accomplishments and work towards achieving the ones that still matter to you.
Better Customer Satisfaction
Whether you are measuring employee engagement or customer satisfaction, the best way to do it depends on your primary business goals. It’s important to define success in terms of your plans for the company, such as making record profits or ensuring employees love coming to work.
For example, if you are selling a product that requires a human connection to address urgent needs, then providing this service should be one of your key priorities. This type of service can be delivered using UCaaS or other contact center as a service (CCaaS) solutions, but they need a high-performing network to operate at peak performance. This is where SD-WAN comes in.
Achieving the perceived value and customer expectations required to drive satisfaction and loyalty is a challenge for many companies, especially in the age of mass customization, where customers can customize products or services more than ever before. According to ACSI, the average customer satisfaction score has been lower for value than for quality and expectations over the last 12 years.