Waikato Business News January 2018

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8 WAIKATO BUSINESS NEWS January 2018 From the editor Happy New Year and it seems an appropriately uplifting time for one of the feature stories in January’s Waikato Business News. We examine the growing increase in philanthropic giving among Waikato businesses. For decades Waikato institutions such as Gallagher, Perry and DV Bryant Trust have led the way in this field, making a massive impact on Waikato society. Now a new breed of businesses are picking up the baton and making their own mark. Greenlea Meats managing director Tony Egan says it’s a sign that Waikato business is growing up. He may well be right and companies such as Foster Construction, Agoge, Greenlea Foundation, Dairy Goat Cooperative and Pro-Life Foods – to name just a few – should be congratulated. But also significant is the fact that as St Vincent de Paul general manager Mike Rolton makes clear, so much more help is needed. KGL Property’s $6 million redevelopment of the former Hill Laboratories building in Hamilton East transforms an eyesore of a building into a gem and at the same time provides much needed top notch office space for the city. Waikato Regional Council’s intention to move into the city is a blow for Hamilton East but KGL’s redevelopment which begins mid-year adds to the revitalisation already sparked by the eye catching Ebbett Prestidge Volkswagen and Audi dealership and the landmark Deloitte building. The project – a partnership with Foster Construction - also marks another impressive notch in KGL’s belt. I’m thrilled with the calibre of our columnists going into the New Year and again this month they serve up some thought provoking, practical columns. From the tax implications of buying and selling businesses to tips on naming a new business; from enhancing your personal brand to pragmatic use of settlements; from use of Chatbots to the pluses and minuses of setting up trusts. There is something for every reader here. We look forward to another year working alongside Waikato’s successful and visionary businesses. Geoff Taylor Editor MONTHLY POLL Vote and win Sponsored by the Helm Bar and Kitchen This month’s poll This month’s poll concerns Hamilton City Council plans to support a redevelopment of Garden Place led by businessmen Matt Stark and Steve McLennan. The pair plan to put two lanes of traffic and car parks into Garden Place to try to re-activate the space. The proposal, costing council $3 million, has gone out in the Long Term Plan for public submissions. Is it worth pursuing? Vote on the WBN website (www.wbn.co.nz) and fill in the entry form to be in to win a meal voucher for two at The Helm Bar & Kitchen. Voting closes Wednesday February 21. Last month’s results Will 2018 be better for business? Waikato businesses are in a bullish mood if December’s Waikato Business News poll is anything to go by. Sixty-two percent of respondents expected 2018 to be better for their businesses and only 26 percent looked to the coming year with concern. Twelve percent sat on the fence. Surely an encouraging sign as we move into February and perhaps a signal that concerns some businesspeople had about a change in Government are fading. 26% 62% 12% 62% 26% 12% Should Hamilton City Council support plans to redevelop Garden Place? A. No, leave it alone B. Yes, something has to be done and at least it’s a private plan Cast your vote at: www.wbn.co.nz WINNER OF THE HELM DINNER VOUCHER IS: Matt Vickers Will be better Will be worse About the same Whether you need help hiring the best people for your team; looking for practical human resource advice and support; want to develop yourself, your team or individuals in your business; or need to make some changes in your organisation but don’t know where to start, then come and talk to us. 0800 everest everestpeople.co.nz
WAIKATO BUSINESS NEWS January 2018 Chatbots a smart fix for your small business 9 THE DIGITAL WORLD > BY POOJA GUPTA Pooja Gupta is digital marketing manager at Duoplus. pooja@duoplus.nz | www.duoplus.nz In this age of instant access, it is important to remember that customers are no longer willing to wait or go out of their way to obtain information, products, or services. They expect fast responses. Do your customers message you with queries or complaints on Facebook? What do your customers want? Assistance! When do they want it? Now! Small businesses have limited resources, and Chatbots can offer a great way for them to engage with their customers, employees, and partners. Chatbots can help deliver the right answer the moment a customer asks. What is a chatbot? A Chatbot is a computer software programme designed to interact with people. It has the capability of simulating seamless conversations with customers and typically exists on channels like Facebook Messenger, Siri, WeChat, Telegram, Slack, Skype and many others. There are basically two types of Chatbots: One that functions based on a set of rules, and a more advanced version that uses machine learning or artificial intelligence. A chatbot that functions based on rules can only respond to specific commands while the latter functions using artificial intelligence and can get smarter as it learns from different conversations it has. While this may sound overwhelming for small businesses, there are some simple ways to get started. According to a recent study, 67 percent of people expect to use messaging apps to talk to businesses, which makes Chatbots very relevant to adopt. As reported by Facebook, more than 330 million people connected with a small business on Messenger for the first time in 2017. Facebook says that is a good start. Chatbots for small businesses? All businesses are different in nature of operation and services they offer. It is ideal to have a Chatbot if your business falls into any of the following categories: 1. A business that receives many similar requests A chatbot can be created to answer those typical questions that your employees have to answer repeatedly. These can be providing details on return policies, warranties, and related information. 2. Business that sells products that need low involvement Some goods and services don’t require much time and effort on the part of the consumer to decide, such as cosmetics, food items, and common household items. Customers typically don’t spend a lot of time comparing the features of these goods. So, you can have a bot that immediately understands what the customer wants and offers suggestions without human interaction. Why use chatbots? For small businesses, 2018 can be just the right time to adopt chatbots and have benefits. Following are some ways chatbots can be a profitable step for small and mid-sized businesses. Better Customer Experience: Small businesses can take advantage of chatbots in serving their customers better by providing instant replies and solving their queries quickly. Chatbots offer easy access to information about products and services, and can give the ability to purchase them. Chatbots can provide rich content like images and videos helping customers better. The chatbot can automate low-value tasks focusing on those that really add value to the business. The convenience of conversational commerce: Some of the industry excitement around chatbots is the approach of customers purchasing an item within the context of a conversation – without needing human assistance. By having a dialogue with a program that learns and stores information, we’re likely to see customers placing orders with fewer steps than before, and in a much more user-friendly experience than having to manually use a shopping cart. Consumers can jump from awareness to action with only a few messages with a chatbot. As this technology develops, the convenience of a bot will be immense. How to get started There are many free chatbots available that you can start with. The most popular and highly recommended is Many- Chat. It lets you create Facebook Messenger chatbots to market your brand and gives you the ability to set up some logic steps where the chatbot can send automatic replies to help serve your customers quickly. This tool requires no programming and all you need to do is connect your business Facebook page to ManyChat. It provides a complete set of growth tools that enables you to effortlessly grow your messenger audience and help convert anyone into a customer/subscriber. It also notifies whenever your attention is needed, making it easy to have a personal conversation from there. There are various other free chatbots also available like Chatfuel, ChatterBot, ChattyPeople and many more. Chatbots are going to evolve with time and create more opportunities. Small businesses should include them in their wider business strategy. Development of chatbots is getting increasingly affordable, with some non-AI (artificial intelligence) bots being very low cost to implement. It can be a smart fix for your business in 2018. 30430 www.braemarhospital.co.nz 24 Ohaupo Road, Hamilton Phone: 07 843 1899 All health insurers accepted Because Braemar is owned by a charitable trust, we reinvest any surplus back into the hospital to stay at the forefront of surgical innovation. Excellence means Braemar Waikato Branch – Upcoming events/courses At the Institute of Directors we’re on the pulse of governance. Connecting, equipping and inspiring directors through thought leadership and our extensive network, professional governance courses, events and resources. 718 November October CPD: 2 points 14 February 2018 CPD: 2 points CEO/Board The Digital Director relationship with David panel Bell discussion with Margaret Devlin, AGM Carlos Lunch da Silva function and Kirsten with guest (KP) speaker Patterson Brett Maber “Building 12.00pm 7.00am - 9.00am, - an 2.00pm, International FMG The Stadium Grandstand, Agriculture Waikato Claudelands Business” 12.00pm -2.00pm, FMG Stadium Waikato 7 November CPD: 2 points 24 November 14 CEO/Board March 2018 relationship panel discussion with Margaret Devlin, Carlos da Silva and Kirsten Waikato Branch Christmas Cocktail Function CPD: 2 points From 5.30pm (KP) Patterson an uncertain childhood, through some of the greatest adventures, – 7.30pm, FMG Stadium Waikato to an ambitious vision for New Zealand. 12.00pm - 2.00pm, The Grandstand, Claudelands Lunch function in partnership with the Waikato Chamber of Commerce Guest speaker: Sir Graeme Dingle 12.00pm – 2.00pm, FMG Stadium Waikato To register, please contact: Megan Beveridge, Branch Manager Waikato.branch@iod.org.nz, 021 358772 or www.iod.org.nz Waikato branch is kindly sponsored by:
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