By QbitPOS | May 7th, 2018
Winning Customer Loyalty and Transforming Business
In the advent of industrial era, the business around the world began has been transforming. The focus of many organizations and business was shifted from producing quality product to producing products in great quantities. With the expanding needs of ever expanding population, this idea seemed plausible. But soon the world of business and industry was faced with new challenges. These challenges include the race to keep the competition. Industries with new and improved business strategies rose with many important factors to flourish their businesses. The circle of all the focus is now on one thing alone, “Customer”.
Businesses and organizations compete with one another in order to survive in the throat cutting environment of today. The ones that do survive are the ones who make it to achieve the loyalty of their customer. In doing so, there are many important steps and ingredients. Although there is quite much material all over the internet and in books, but all those things circulate around some fundamental basics. Today, we will have a look at those important yet essential fundamental points that can make transform a business and can make it viable enough to get it’s customer’s loyalty.
1. Knowing Your Customer
It seems very common sense to know your customer. It is rather complicated when the customer is faced
after the completion of a product. Many a times, a customer is found unsatisfied with the product offered
by you and will opt for another product offered by another provide (perhaps your competitor)…
Stress point 1 => the customer is still the same.
Stress Point 2 => the customer even got the same product he wanted; but not from you. Why?
The answer is because you did not know your customer well enough. Knowing the customer includes knowing
the essential requirements of the customer plus knowing “all” that the customer considers as “value”.
2. Proposing the Right “VALUE”
Do you know that organizations today spend millions for business analytical studies in order to retain the best “value” in their business? Surprised? Well, go and search the internet for the tools of Total Quality Management and Business Process reengineering… These are specialized techniques and methods employed by business experts in order to make or hone a business in it’s value. We are not proposing you to hire a business specialist to do such thing for you. What a business needs is simply an outline and a clear worked out understanding of what the “value” is in the minds of his customer. That is what a business should propose to his customers.
3. Curstomer Driven Objectives
When the value is defined by customers, then we come to find a very dramatic change in the organizations. To make things easier, consider two different organizations, i: a governmental organization that is designed with the aim of performing its functions for government. On the other hand, consider a commercial hotel; where the major customer is the focus. All the activities are prioritized with the customer in the mind of the business owner. This seemingly obvious difference plays all the role of transforming a business. If you need to gain the loyalty of your customer, then structure your organization based on the value of customer.
Customer Relationship
A vast majority of businesses thrive due to the good relations they establish with their customers. I remember the story of a successful shop keeper who used to get more and more customers compared to his neighbor shop keepers. And the secret to his success was his cheerful smile plus his exceptional determination that he never gave a stale currency note in return to his customers. Many people consider a good moral to be a part of a quality service.
Feedback and Improvement
The businesses that do not improve in today’s age are the ones to experience great loss. Take the example of Nokia. Persistence on the old operating system caused a whole business to lose ground. They could have adapted with the customer’s feedback and could have improved to newer and more accepted android operating systems.
With these fundamental ingredients and with some determination of vision and mission, any business can be successfully transformed for the best value as desired by his customers. This is what the business world seeks today.