Smart Business Matters
GROWING A SMART BUSINESS FOCUS ON YOUR CUSTOMER As business owners we all know the importance of delivering what the customer wants, when they want it and at a time and place that suits them. In today’s environment of increasing competition, businesses need to become smarter in how they understand, listen and then respond to the feedback customers provide. The challenge is how do you deliver a customer experience that means they will continue to come back, and at the same time recommend you to others. The Voice of the Customer (Past, Present and Future) Businesses need to move away from what they ‘think they know’ to what they ‘actually know’ about their customers. Understand Your Customer: • What is the profile of your current customer base, who are they, what do they buy, how often and how much do they spend? • Which of your products/services are popular and provide a significant amount of your sales? • Analyse the data collected from the first two points, is it what you expected? Is it what you want for now and in the future? Listen to Your Customer: • Why do they buy your products and services? • Why do they choose you instead of your competitors? • Is there anything they would like you to improve?
KEVIN BENNETT KB Business Solutions
• If they are not an existing customer, go and find out why not? When customers talk about their experiences, their response is typically based on the likelihood they would recommend you to family, friends and colleagues. (Reference : Net Promoter Score – NPS). The response is rated on a scale of 0 to 10: • Promoter (9 to 10) – loved the experience of buying from you and will actively tell others about the experience. • Passive (7 to 8) – ok with the experience, but there was something they were not happy with, usually will share experience when asked. • Detractor (0 to 6) – did not like the experience and are very likely to tell people about what was wrong before being asked. When you then start to ask your customer ‘Why’ they provided this rating, you are then really starting to listen and understand. However the next critical step is to then respond in the right way. As a business that wants to have a strong customer focus, your first objective is to have more customers rating you Promoter ‘9 to 10’ instead of Detractor ‘0 to 6’ This important feedback also provides an excellent opportunity to share with your staff and start focusing on ‘Your People are your best asset’ – see next issue.
ABOUT THE AUTHOR Kevin has over 30 years of experience working with international businesses identifying and implementing ways to become smarter and improve business performance. Practical, simple and effective solutions that really work.
IMPROVING YOUR BUSINESS WITH YOU Coaching and Mentoring Business Diagnostic and Assessment Facilitated Workshops Customised Improvement Programs GET SMART - CALL KEVIN on 0407 144 963 Email kb@improvingyourbusiness.com.au SERVICING ALL OF THE SUNSHINE COAST Join us on Facebook: KB Business Solutions
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