Why Your Business Needs A Customer Focus Strategy In Place
Your business may be return on investment focused but having a customer focus strategy in place is one of the easiest ways to boost profits. Learn more here!
Hi Trish Davies, here again from Build Your AU. The ultimate goal for any business is to make money, let’s not shy away from that fact. I am very economically driven and putting money in my accounts is a driving force and motivating factor.
As a business owner I am looking at the return on investment I can make, I am sure that this is equally important for you. Whether your business is established, or you are just starting out business is a numbers game, and this should be one of your main focuses.
Those numbers will increase if you have a loyal following behind you and a strong customer base. You will be a customer to many different companies who provide varying products and services. Therefore, you will have strong attachments with those companies making you more valuable to those companies than average customers.
The average customer may be a one hit wonder, but people like you keep going back time after time. You will generate more revenue and profits for those companies because in probability they are focused on more than just ROI.
What I mean by this is that are just as focused on your needs, that’s why you keep going back. They will have a customer focus strategy in place, and this is what I want to focus on today.
Why Customer Focus Marketing Is Important
With so much competition out there, it is harder for you to influence decision making in the marketplace. You will have your own segment of the marketplace that are aligned with your products and services. This is your audience and the hardest thing to do is get them to commit for the first time.
Repeat customers spend on average over 65% more than a new customer. With the cost of marketing and advertising going up new customer acquisition is less profitable. Also, it is becoming increasingly more challenging. Why is this?
When people are looking to purchase something such as a product or a service they turn into investigators. Resources allow them to do this as they have all the information they need at their fingertips.
Think about the times when you have gone online to look for a specific product. You go onto Google, type the product name, and add the word “review”. When you do this, you have access to review sites, social media, and other search results.
You have most of what you need to make the buying decision. You can see the pros and cons of the product and have total control over the buying process. This is what you must understand from a business owners perspective. Your customers are doing exactly the same so you must make it a great experience for them. This is what a customer focus strategy is designed to do, to give them that experience.
To accomplish this, you must understand how customers behave and what their needs and desires are.
Your Customer Focus Strategy Starts With Identifying Your Customer’s Needs
This is where you must turn investigator and leverage resources online that will tell you what your audience is looking for. There are many online market research tools available, some free and some you may have to subscribe to.
They will give you information on behaviour and the questions that people are asking when looking for solutions. Look at your competitors websites and social profiles to assess what their customers are saying in their feedback.
Platforms such as Amazon is a treasure chest to find out exactly what people want. Look at the reviews to see what you competitors are doing right but also what they are doing wrong. Are they customers asking for more features?
Through your own platforms such as your website and social profiles you can conduct surveys. Just ask the questions, “what do you need?”, “how can we make our products better?” Questions along those lines.
Take Action On The Feedback
Once you have amassed the required information then it is time to act upon it. Implement everything that your customers are asking for but that is only the start of your customer focus strategy.
You must pay attention to how your customers behave and how they use your products and services. For your customers to become successful with what you offer you must engage with them.
Follow up with them after their purchase to see if they are using it properly and getting the most benefit. If they aren’t then help them by providing more value in the way of information.
Create content that indoctrinates and onboards your customer after they initially purchase. Create a roadmap so to speak that your customers to follow to create that great experience for them. Also, when you have any updates make sure you inform your customers of the additional benefits they can receive.
Another thing you must do is have a customer service system set up. A system that monitors your online reviews, customer queries and general communication. Either you monitor this yourself or install a team to do this. Above all the system you create must respond quickly, no one wants to be hanging around waiting for a response.
Customer Focus Increases Brand Advocacy
Customer advocacy is one of the most powerful ways to increase your overall brand awareness. When you are customer focused you are acknowledging that real people are supporting you and your business.
You are creating relationships with your customers and usually relationships are a two-way street. If you look after your customers, then they will look after you by advocating you publicly. Either to their own circle of influence or to the world in general.
Do everything you can to obtain testimonials, case studies and social media engagement. Position yourself as the person who is there to help, serve and provide value.
I started this article by identifying how important return on investment is for any business. What I did though was shift things focusing on what the customer wants and desires.
The customer focus strategy insights I have shared with you are actionable steps that you can implement today. By doing this you are investing your time and effort to making the experience for your customers the best it can be. The return on that investment can be huge, maybe even priceless!
Want to know more about building lasting customer relationships? Then click here to learn more about the Build Your AU experience.
Helping you build your authenticity, authority and audience.
Trish Davies
Build Your AU
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