Understanding what motivates customers and how to make your products and services relevant to them is fundamental to building strong customer relationships. Successful companies know the critical importance of reaching out to their customers for feedback, yet few firms do it and fewer do it consistently well. The worrisome truth is that you will receive feedback whether or not you ask for it– if you don’t reach out to your customers, they will ‘speak up’ by walking away (never to return), not including you in discussions of new business opportunities, or increasingly doing more business with a competitor.
Today’s competitive landscape which knows no geographic bounds demands smarter approaches to getting and keeping your customers– especially in these economic times. It is common to think that just offering lower prices will draw business. Though pricing is a key element, it is NOT the primary reason that drives thriving businesses. Customers will pay premium prices for value.
Understanding your customers’ definition of ‘value’ is the cornerstone of the strongest research and marketing plans.
Colin Wahl, CEO
Client Opinions, Inc.