Customers are the lifeblood of every business. In order to maintain a steady flow, you must think about ways to add value to your customers’ lives. It may be as simple as creating an account on your website or giving someone a coupon code for the next purchase. Whatever it is that you do, customer service should always be at the top of your mind.
The “customer value chain” is a model that looks at your business from the customer’s perspective. Instead of simply focusing on how you get your products out, you should also understand how your customers find their way to your business and what they get out of your products. Investors such as Peter Comisar are now prioritizing the customer value chain due to its effectiveness.
Knowing What Customers Want
Knowing what your customers want is the first step to adding value. First, you’ll need to determine who your target audience is. You may have specific demographics or psychographics in mind. Or, you may be able to design a questionnaire that will help you figure out what your audience is looking for. Once you have an idea of who your customers are and what they want, it’s time to put together a list of ways you can provide them with valuable services.
Building Customer Trust
Trust is the foundation for every successful business relationship. You want your customers to trust you and know that you’re a reliable provider. So how do you build trust? By delivering the quality goods or services you promised. Be sure to back up your promises with clear, measurable results. When something goes wrong, be honest about it and offer something to make up for the error.
Showing Your Appreciation
Your customers are the reason your business exists, so it makes sense to show them your appreciation. By showing how much you value your customers, they may have a more fulfilling experience doing business with you. You can show your appreciation through discounts, rewards programs, or even a simple email expressing your gratitude. Just make sure what you signal is genuine and not simply a business move.
In order to provide value to customers, you need to be open and willing to listen. You shouldn’t fall in love with your ideas: When a large portion of your customer base has something else in mind, a change might be worth considering. Your business is just as much your customers’ as it is yours.