Our customers are our business. We succeed when we add value to their lives, and we solidify and grow our market share by constantly refining this offering and its benefits. But customer satisfaction and loyalty is about more than an excellent product or service. It’s an intricate behavioral dynamic that, once mastered or better understood, yields impressive margins…
Do you understand the customers that hold your business together?
What we know about your customers’ behaviour
- People buy and transact with you for a range of reasons. This goes beyond the motivation around your product and/or service’s features, benefits and quality. Has your organisation and leadership team made the investment to understand what your customers really value in their relationship with you? Exploring and unpacking this could give you new direction for marketing, sales and how best to position yourself to existing and potential clients.
- Buyer language used to describe their relationship with you can provide invaluable insight into the ‘loyalty factor’ – or, where your company might be missing the mark. Customers and clients will seldom share their dissatisfaction with you directly, however, they will emotively tell others. Use customer dissatisfaction, and their honest vocalisation of this in other public spaces, as an access point into your consumer’s needs. From there, you’ll be able to review, amend and re-align your business in a way that best suits your clients and customers.
- Loyal customers love to recommend others, especially when it can reflect positively on them. So, how readily will your customers recommend your company? Crucial in your ability to understand this is your knowledge of your customer’s activity beyond your walls – what they’re saying about you out there (point 2). Recommendations are often the backbone of new business opportunities, yet sales teams are seldom goaled on asking for referrals. By focusing your organisation’s energy around referrals, you’re streamlining what might be one of the speediest and most effective ways to build your business.
An active journey in understanding your customers
With years’ experience consulting on consumer insights and customer behaviour, I’m confident in facilitating excellent processes that enable a dynamic and focused understanding of your customer. In being ‘closer’ to your customers, you’re another step closer to a strategy that – with effective implementation – delivers improved customer value. And, happy customers mean a healthy, successful, growing business especially when you take price out of the equation.
Drop me an email if your business is looking for empowering insights into the single most valuable asset in your organisation: your customers. email@example.com After all, ideas in business are plentiful. A great insight is rare – and infinitely more rewarding.