Archive for the Customer Acceleration Category

There’re out there. Every company has them – those customers that have bought from you in the past but haven’t made a purchase in a few months or maybe even a few years.  Many companies ignore this customer segment because frankly, the perception is they aren’t buying because there’s a problem and who wants to deal with problems? This is not necessarily true. We recently completed a project with an organization that had several thousand inactive customers.  Some of these customers bought over half a million dollars worth of products two years ago and then… nothing.  Others started small and bought for a few years but never grew into sizeable accounts. When we initially talked to the client, they wanted us to contact these inactive customers to determine what happened. What went wrong, what did or didn’t they do?  They wanted our help to get to the root cause of the problem – the reason the customers hadn’t been buying. Here’s what we discovered…. The Inactive Customers were Not Dissatisfied… In fact, the inactive customers were more satisfied than their active customers. How is this possible, right?  It doesn’t make sense!  Well, what we discovered is that their current customers

What’s more essential for organizational success, customer service or customer experience?
Customer service or customer experience…. It’s all the same thing right? Unfortunately, that’s what many companies think. However, there’s a very important distinction between the two…

In this blog we explore the differences between customer service and customer experience to effectively drive customer acceleration and growth for your company.

If your customers aren’t receiving the value they expected from the products and services you offer, chances are they will leave.  But, how do you know if value expectations are being met? One of Warren Buffett’s most famous quotes is “Price is what you pay for; Value is what you get.”  This is true for most purchases.  However, the instant you see the price, your brain is determining whether or not it is less or more expensive than you imagined.  People inherently make buying decisions with some expected type of value deliverable that will benefit them or give them some type of advantage for the price that they will pay. According to Brian Tracy, “The more you focus on the value of your product or service, the less important the price becomes.”  Meaning, the more benefit a customer receives from the products and services you provide, the less price is a factor.  This is important because it provides you with an opportunity for growth. By uncovering their underlying value expectations and ensuring customers are receiving the value they desire, you can have confidence knowing your customers will be loyal to you for the value that you deliver. Don’t fall into

A unique selling point is essentially what makes your product or service better or different than your competitors.  This key differentiator is a brand’s distinct value that sets itself apart from its competitors within its’ market. It ultimately answers the question, “why choose your company?” How To Identify Your Unique Selling Point Differentiation enables a company to achieve a competitive advantage, however, many companies make the mistake of declaring their unique differentiator without ever gathering any competitive or market intel.  Very often, what a company thinks is unique or different, in reality, really isn’t. Some companies state their unique differentiator as something simple such as quality or speed, but frankly, anyone can claim they are quick or have high quality products or services—that may not make you stand out as different or unique. So how do you create a unique differentiator that is so appealing, your customers will be willing to pay you a premium for your products or services and leave your competitors envious?   Here are three ways: Evaluate the Benefits you Offer… Make a list of all the potential differentiators – tangible and intangible, you believe make your brand unique. Be specific, generalizations aren’t going to make a significant

How is your company handling the economic downturn? Are you prepared for a potential recession? Let’s talk about steps you can take now to help you ‘recession-proof’ your business.

As the downturn in the economy and markets loom, and inflation continues to rise, companies are having to contemplate the “what if’s” of a possible recession.

Because there are already signs of an economic slowdown globally, the R-word, recession, is at the top of many people’s minds. This is being driven by the recent fall in the stock market, record high inflation and continued supply chain and employment challenges that plague the business market.

In a downturned economy the advice for business owners is simple: Cut fast and cut deep. This may be good advice for how you handle your own business, however how will your customers handle things within their businesses? Will they make cuts? If so, what will they cut and how deep will the cuts go? Will your organization be impacted by these cutbacks?

I have a question for you…. What’s the worst thing you can do with the customer experience data you gather?  Nothing—doing absolutely nothing with the feedback you get from your customers can be very damaging to your relationships and growth potential. Everyone is stretched thin these days and pulled in many different directions— there just aren’t enough hours in the day.  So, when you ask your customers for feedback and they take the time to provide it, it’s critical that you use it effectively— not only to drive improvements in your operation but also to enhance your customer experiences. Collecting customer experience feedback and NOT taking action sends the wrong kind of message. Let’s consider the potential consequences when this happens…. Making Matters Worse… By not following up on feedback, especially if the customer has an issue, you run the risk of further irritating and aggravating a situation. Customers expect that if they have an issue someone will follow-up and resolve it.  You are essentially telling your customer that their issues don’t matter. Driving Negative Reviews… A situation like this definitely drives undesirable customer reviews and the spreading of negative word of mouth.  This can be very damaging to your