The customer is always right... Or so they say, but this creates a divide, and I can imagine every single one of you bringing to the front of your memory a customer you would rather forget who absolutely wasn't right. But ours are - let me explain why.
Our existing customers have the ability to support us and inform, educate, innovate, grow, hire and stay ahead of the market. Customers can be the richest source of information in the market you operate in. They know what’s working and what isn’t, what future products or services they may need and what their competitors are doing.
They can inform us of sector information, new projects and where future opportunities lie – presenting a chance to gain new clients. Referrals, as we all know are worth their weight in gold and those coming from your existing clients are well worth nurturing. Whilst you work in a specific sector, there are always niches and specialisms and your customers have (and will) educate you on these should you ask and pay interest – leading you to better understand the industry, present opportunities and open new doors. Becoming a specialist or having someone within your business who is, will lead to increased exposure in certain fields presenting an opportunity to differentiate.
Understanding and knowing your customers is an essential aspect to taking a proactive approach. They can help you innovate, look at new processes, practices and methodologies, new services or products and revising existing ones.
It’s in this way that we at Just Williams have seen the biggest impact. We asked our customers for their help in forming our offering moving forward, in understanding their future ambitions and needs. Following significant changes for many of them, funding restrictions and the end of ERDF, the ability to commit to long term solutions is not right for everyone. They wanted more flexibility with consultancy, one day strategic sales and marketing workshops, and solutions for smaller businesses. Without speaking to our customers, we wouldn’t have necessarily come to this conclusion and as a result have now successfully launched a new range of solutions in addition to our Associate model. Working with a range of local freelancers and businesses we now offer a full sales, marketing and communication agency offering whilst supporting the local economy through our Business as a Force for Good mentality – all thanks to taking a proactive approach with our customers.
By engaging with our customers, our business has grown and so has theirs – we’ve asked for introductions, we have become sector specialists and we’ve entered into new markets. Retention is a subject often overlooked when businesses are looking to grow – but its this that should take front and centre stage when it comes to creating a sustainable organisation. So often we focus on new business, which can be highly worthwhile but often forgetting the work gone into achieving the ones we already have. Very few organisations know the cost to acquire new customers or indeed the value of their existing customers; and therefore Customer Lifetime Value – both essential metrics when managing your growth.
Your customers can be your greatest ambassadors – this works both ways so be careful! They can promote your brand in multiple ways, including to assist you in hiring new team members.
Staying in touch with the market and adapting your offering, be it products or services in line with listening, engaging and asking your customers is an area and one I would encourage you all to be more actively involved in. We’ve changed our offering as a result and continue to evolve in line with needs and the market.
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