Q. This Law describes how and to what extent the stress levels (or mental arousals) impacts performance of any person.
A. An The Yerkes–Dodson law dictates that performance increases with physiological or mental arousal, but only up to a point. When levels of arousal become too high, performance decreases. The process is often illustrated graphically as a bell-shaped curve which increases and then decreases with higher levels of arousal.
Research has found that different tasks require different levels of arousal for optimal performance. For example, difficult or intellectually demanding tasks may require a lower level of arousal (to facilitate concentration), whereas tasks demanding stamina or persistence may be performed better with higher levels of arousal (to increase motivation).
[Source - Internet]
We wish all members a Happy and Prosperous New Year 2017!
We welcome all new members and thank members who have renewed their membership.
Appended is the list of few FREE web-based seminars (webinars) for January 2017, we have shared same list to your registered email; this is a good opportunity to earn PDUs and claim at PMI to maintain your credentials.
“The mission of PM Essence is to facilitate the exchange of information among professionals in the field of project and program management, provide them with practical tools and techniques, and serve as a forum for discussion of emerging trends and issues in project management. PM Essence is YOUR Newsletter and Bangalore Chapter welcomes story ideas and/or suggestions to make it still better. More information can be found on the Chapter's website.”
All articles in PM Essence are the views of the authors and not necessarily those of PMI or PMI Bangalore India Chapter. Unless otherwise specified, it is assumed that the senders have done due diligence in getting necessary copyright and official clearance in respect of all letters and articles sent to PM Essence for publication. PMI Bangalore India Chapter is not responsible for loss, damage, or any other injury to unsolicited manuscripts or other material.
PMI Bangalore India Chapter # 13, Suryastan Apartments, Andree Road, Shanthi Nagar, Bengaluru - 560 027, Karnataka, India
You think you know your customers. But, do you?
“All of your customers are partner in your mission”. Whenever someone asks me about how a business can keep customers happy, this quote from Shep Hyken comes out from my mouth.
A customer will pay for your product or services. But, only if you are offering a solution for some problem that he/she is facing. The question is how will you sell a solution when you don't know the problem?
This is the reason why it becomes imperative for you to know your customer. So, how well do you know your customers? I am going to share some points here that will help you to get answer to this question -
• Do you speak the same language as they do?
Business is always a two-way communication. Your actions and your brand must resonate with whatever the customer says. And, it must reciprocate.
Take a small example here. If you are running a project management tool targeting managers, you cannot use too many informal verbatim in brand building activities. You must stick to a more formal communication. Similarly, if you are into something fun, then you cannot afford to be formal in your brand message.
In a way, you must speak in a language that the customer speaks to strike that chord. This will help to leave an impression and fetch his attention towards your brand.
• Are you present where your customers are?
The days when a telephonic support was the only way for customers to reach a brand are long gone. We are in an age where you must make your brand's presence felt wherever the customers are.
Social media is a great example of this. It has emerged as the potential goldmine for businesses. A business without a strong social media presence cannot expect to be on top of the game in today's scenario.
But, you need to figure out which platform out of all is best suited for your brand. There is no point in putting meticulous efforts on building your brand on Instagram, when your potential audience have proclivity towards twitter.
You need to fetch the numbers. Run the metrics. And, figure out where your potential audience are present. Based on that create a branding strategy.
• How much importance do you give to customer feedback?
Customer feedback is the most important thing for a business. A big mistake, however, that marketing teams make is to focus only on the negative feedback. We have all heard about the stories of successful business learning from their mistakes. And, making the most of negative feedback from their customers to reach on top.
Yes, it is important to consider negative feedback to find the areas of improvement. But, you cannot always look down upon the positive feedback from your loyal customers.
You need to treat both positive and negative feedback equal. While negative feedback works as a source of improvement from your current levels. Positive feedback helps to capture the attention of new users.
• Do you have actionable plan to use that feedback?
Acquiring customer data is a great way to analyze customer behavior. You might use various methods to gather customer feedback and their behavioral statistics. For instance, feedback forms, analytics and more. But, what next? What are you going to do with these numbers? Do you have a plan in mind on how to use this data?
Remember, customer data is of no use as long as you have an actionable plan on how to make the most out of it. You might be sitting on a huge pile of data from customer information. But, as long as you don't know what's next, this data is of no value.
You must know how to analyze this data. Based on the analysis you must take actions. These actions will help to improve not just your product/service, but its brand value as well.
Knowing your customer is not just about creating a product that fits within their needs. But, it is more about making sure that the customers know you are well-versed with those needs. The points mentioned above will help you to achieve that.
Once you know the customer, you can create branding strategies to connect with them. And, sell your product service as a problem solver!
I hope you are able to resonate with the thought. And, if you are still failing to make your brand's presence felt in the market, then the tips mentioned above will come to help.
We are happy to learn that Sri S.S.V.Raghavan - PMP, a Past Vice-President of the Bangalore Chapter of PMI, was honoured recently with “Distinguished Member Award” by the Indian Institute of Materials Management at its National Convention at Hyderabad on November 25th, 2016. This was in recognition of his contribution towards the development of Materials Management profession for nearly 40 years in various capacities – as Faculty Member, Examiner, Executive Committee Member and Hony. Editor of its official magazine, to name a few. Since he was unable to make the trip to Hyderabad to receive the Award personally, it was presented at the Annual Conference of the Bangalore Branch (“Supply Chain And Logistics Exposition” - SCALE 2016) on the 16th December at Hotel Lalit Ashok. The Distinguished Member Award is a HIGHER grade of membership compared to Fellowship which Mr. Raghavan has already been awarded in 1995.
We are sure readers are aware of his contribution to the PM profession as well - as Faculty in the PMP QUEST Sessions, as the Vice-President in charge of the PMP QUEST training programs and later Special Programs (PM ENRICH), and as Content Reviewer in various PMPCs in which he has facilitated the visit of some well-known dignitaries.
We heartily congratulate and thank him for sharing his happiness with us, and are sure more accolades would follow. For the nonce, we wish him good health, the pre-requisite for achieving everything else.
About IIMM: IIMM was an Association named as IAMM in 1977, and after it received a Charter from the Govt. of India around 30 years ago, its name was changed to IIMM. Presently it has 45 Branches all over India (Unlike PMI, "Chapters" are sub-sects of "Branches" in IIMM), It runs educational courses in various disciplines leading to Graduate and Post-Graduate Diplomas in Materials Management (GDMM and PGDMM), both recognized by the Govt. of India, apart from short term Certification Courses in Supply Chain Management, Store-keeping, Foreign Trade, etc. Like ICWA, ICS and ICAI, they prepare their own "Study Notes" for these courses most of the times, one of which Mr. Raghavan had the honour to author in 1995. IIMM also has collaboration arrangements with selected Universities in preparing the syllabus and conducting contact classes for their MBA courses in Supply Chain Management. As in PMI, they have an annual National Conference (NATCOM) and Bangalore Branch's own SCALE (SUPPLY CHAIN AND LOGISTICS EXPOSITION - similar to our PMPC).