Friday, December 14, 2007

CEO Tip 6 “What’s in it for me” – Your Customer

By John Maver
Presented at the Renaissance Forum for CEOs

"What's in it for me." This isn’t just a song by Faith Hill. It is a way of life for your customers. They don’t care about you and your business issues. They are interested in what makes their life better. How can you or your product help them? Yes they want a great price and they want value but most of all they want that emotional benefit that says "This fills MY needs." It isn’t always the best product from a logical standpoint. The emotion is also important and needed. Think about it.

“People don’t want a quarter inch drill. They want a quarter inch hole.”
Theodore Levitt

Value is what the consumer says it is. This is where a brand has to walk the talk.

"It's the EXPERIENCE, stupid!" as James Carvel might have said

Customer satisfaction = Your performance / Customer Expectations

What a great simple equation of how to determine customer satisfaction. Are you under or over delivering against their expectations? Better be over delivering.

Research shows that people want:
To have you really know what they want and need
To be treated with respect and to be listened to
Not be bounced around and treated like dummies
Not be served by people who don’t know their stuff
To have products that fill those needs

Find out what customers want from you and know that what you are providing matches it. Do the research and don’t guess. Deliver what you say you will. Far too many businesses focus on ways to keep customers, only to lose sight of the fact that their product or service simply isn't what it should be. Stop talking about features and start talking about benefits. The benefits to the customer. The benefits make a customer, YOUR customer. Make yourself more valuable to your customers, become a part of their world. Give them the five star treatment and they will give you five star loyalty.

“Call it "loyalty" or "customer intimacy". Come hell or high water, get close to that customer, listen to that customer, and love up that customer for all you're worth”.
Tom Peters

How do you measure your customers’ loyalty and what are you doing to drive it ahead?

John Maver
Maver Management Group
(925) 648-7561
Maver Management

View John Maver's profile on LinkedIn

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