SEVEN (7) BIGGEST LESSONS LEARNED FROM CUSTOMERS
In marketing, customers play greater role in
purchasing of goods and services. You need to understand your target market,
what they think of your business and your product or service. Your target
market may be one or more market segments or sub-sets of your market, made up
of people or organizations sharing one or more characteristics that cause them
to demand similar products or services. Here are some biggest lessons learnt from
customers.
Every customer sees himself as the only
customer and expects to receive premium, on-demand & priority services.
Customers continually expect frontline reps to break policies, to prioritize
their needs over those of other customers, and to essentially do whatever they
ask because they see themselves as kings. “There is only one king with no competitor” — Nārada Muni
A customer
has more options than ever. This trend has prompted most companies to switch
from being product centric to customer oriented. Thus, it is becoming more
essential for the companies to communicate directly with their customers and to
understand their every requirement. This is to retain and maintain their
customer despite the costs. As they interact with their customers, they
gradually realize that above everything, customers should be regarded.
The most ancient and, perhaps, still the most efficient kind of
marketing is word-of-mouth. Customers in many ways task themselves with voicing
their concerns and wants to their sellers and when such are considered, they
advocate or recommend seller’s products and services to others. They’re ready
to talk to anyone about a good or bad experience. Customers are 3times more
likely to recommend a brand after they’ve had a positive interaction with them.
“Customers in
today’s era are much more in control of their shopping experience, and they
know they can dictate the shopping experience that they want” Gayatri
Patel, eBay’s
Director of Global Data infrastructure. They have the means to explore, research
and share every purchase decision. And they can do it in a very quick way. If
you lose them, it may not be just for that purchase. It may be for a long time.
You have to be responsive to their needs immediately instead of trying to
direct them. That balancing act is the biggest challenge.
Value purchasing is about prospects looking past the price tags and
seeing what products and services are truly worth to them as individuals.
Instead of focusing on the product, and what it costs, they look at what it
does, and how they can use it. Once customers can envision themselves directly
benefitting from a product, the price becomes related to the usefulness of the
product, instead of just the value of the materials that it’s made from. This
bridges the gap between what something is worth on the shelf, and what its
worth in the hands of the consumer. After a prospect realizes that the value of
a product isn’t what they put into it, but what they get out of it, it’s much
easier to quit purchase.
Many customers see themselves as changing
the world for the positive. This "self-image" can also drive buying
behavior. For instance, for a company who has zero-carbon emission facility/es.
They'll be interested in extending their "green" footprint and
publicizing their eco-friendly stance.
Here, customers help them do that by showing strong interest in
patronizing their products and services.
They
look at products they’re interested in across multiple channels and devices,
and it’s likely any brand-owned channels are the last place they look. In this
sense, a customer is seen to be professional when he or she obeys the rules of
buying and selling. They are usually strong in negotiating on prices with
sellers and most importantly, their predictions are usually strong. They
respect and abide under the laws of demand and supply. For instance, customers
choose to purchase substitutes of goods or products with lower prices.
Moreover, they purchase more of a particular product(s) knowing the future
expectation of increasing prices.
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