Retaining Customers: Keeping Them Profitable for the Long Term
Retaining customers in today’s market means providing exceptional customer service and support. Customers are in complete control and have access to more information than ever before.
Let’s talk about specific projects that can help retain customers.
Voice of the Customer (VoC)
VoC is the in-depth process of capturing a customer’s expectations, preferences and aversions. However you slice it, VoC means finding out what your customers really expect and want from you– and what they definitely don’t. In the simplest of terms, are your customers satisfied? If not, why? How do you fix it?
Gone are the old days and ways of thinking that if you make a great, needed product, customers will come no matter how you treat them. No sir, not in today’s digital age. You can be the biggest overnight delivery service in the country, but guess what? You’ve got smaller, more versatile competitors popping up everywhere, just waiting to gobble up a piece of your pie. You ignore your customers’ satisfaction and little by little, you’re left staring at your empty plate, fork in hand, thinking, “What happened?!”
Customer satisfaction, the other guys’, not yours, is what happened. Those agile up-and-comers swooped right in, and by using VoC like pros, took your market share right out from under you. Are you paying attention yet?
Keeping the lines of communication open with your customers is a crucial aspect of business development. We can help you with this process by implementing a campaign that ensures you are getting reliable feedback from your customers.
By gauging the overall satisfaction of your clients, you will gain:
- Insight into the wants and needs of your customers
- Measure the success of your sales and service teams
- Improve on your current processes and initiatives
- Drive future product development
Knowing your competition is as important as understanding the end-users of your products and services. We can help you develop a better picture of the competitive landscape within your markets. This will not only entail identifying the key players who share your space but also getting a better idea of how to compare to your product offerings. From this you gain powerful insight and are able to:
- Develop a competitive matrix of key products and benefits
- Understand competitors’ strengths and weaknesses
- Refine your branding and messaging
We understand that business does not happen in a static space or a vacuum; it’s dynamic and always changing. That is why we feel it is important that research be a part of any marketing program. By periodically researching your markets you will be able to:
- Understand market dynamics and trends to help develop ongoing strategies
- Support product development by determining what the market needs
- Measure the size and growth rates of markets
- Understand new verticals before you start selling or marketing to them