Is Bookkeeping the most undervalued activity in the VET sector?
When most industries are struggling to get ahead of what their customers think of them, most RTOs perceive it as a compliance imposed cost. It implies that businesses purposefully reduce the cost and do not look at the consequences constructively.
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RTOs are in an enviable position because the services they provide are extremely high-touch, that is, the customers form a personal relationship with the trainer and organisation over a long duration of time. When that is a positive experience, there is a powerful expression on social media. This is not only for the experience as a whole, but for small experiences along the entire student journey. Other industries have much shorter transactions with their customers, so their ability to relate to them and leverage from them on social media or other forms of crowd talk is extremely difficult.
To have a relationship with a customer where they are willing to receive a phone call and complete a meaningful survey is possible in only a handful of industries. However, most RTOs do not take advantage of this information and have not developed the internal capability to make it meaningful to the organisation with their action.
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