It can sometimes be tough in the world of small business, but one fact remains the same: without customers, business comes to a grinding halt. This can also be true when the world around us causes our ever-growing, and ever-changing, customer base to alter their demands due to a host of unmitigated and surprising reasons.
So that you aren’t left behind, here are some tips on keeping up with the changing customer base demands.
You can lead a horse to water…
But unfortunately it takes consistency to make them drink the water. To prevent customer risk the best strategy is to reduce the variables and uncertainty. Risk is, after all, the lack of knowledge about future happenings. To curb this, get to know your customer more intimately. First hand knowledge will keep you in the loop, and prevent them from moving on because of a whim or a new service or product. Use this finite, intrinsic knowledge to keep them around and grow your profit margin.
How to use this propriety information
After you have used your super-sleuthing abilities to glean important proprietary information from your customers, putting it into action comes next. Including:
– Asking the tough questions about your customers. What they want from you, their needs and interests. How your business can continue to offer the service they want, and so on.
– Setting up programs that reward those whom you value most. Incentive structures keep a customer base loyal and encourages them to spread the word.
– A business culture that centers around the customer and their needs. This includes, but is not limited to, encouraging employees to meet the customer’s needs by enacting incentive programs in-house. This competitive approach creates enthusiasm, which puts the focus on the customer.
The bottom line
Creating a culture around your customer reduces risk and allows you to grow with customer base demands, and it doesn’t have to a complete overhaul with added stress. Simple tweaks and changes can be applied throughout the year, each year. Because, in the end, even a 1% profit is worth the extra time.
For more information on how we can help you, please don’t hesitate to contact us any time.