How Do Your Customers Judge You?
It takes a huge effort to find customers even for the most successful brands and even more to retain them. What separates out the most successful and profitable organisations from the wider marketplace is that these organisations have successfully analysed, and continue to, understand how their customers judge their delivery and performance.
Customer-based performance measures are all about the following points:
Customer Satisfaction: just how do your customers rate you? Satisfied? Very Satisfied? Totally Satisfied? If you do not know the answer to the question it is really time that you found out!!
Customer Retention: what is the point of spending huge amounts of resource to obtain new customers when they disappear quickly and their full potential is never realised? Far better to get to know them and keep them away from the clutches of your competitors, isn’t it?
Customer Loyalty: are your customers tempted away from you or do they steadfastly remain connected to your organisation? What drives this loyalty and how can you systematically build upon it?
Product/Service Features: how do these rate in the mind of your customers and if you know this how can you refine/rework your approach to generate further sales and higher retention?
Image and Reputation: just as we never see ourselves as others do it is the same for organisations. Do you really understand the way your organisation is perceived or are you just happy that things are ticking along?
Failure to understand your customers is a sure-fire means by which to lose business, leach profits and market share. After all it is not compulsory to care about your customers but someone else will!!
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