The Power of the Customer

Customers today wield more power than at any time in history. Regardless of the type of customer whom you target, business or consumer, they all seek products and services designed for specific and unique needs. These unique and individual customers want to be treated individually. They all want customized and tailored solutions, convenient payment terms, and scheduling to fit their time frame.

The arrival of the globally integrated marketplace has substantially increased consumer expectations. There is more variety, lower pricing, and better quality goods and services from which to choose than ever before.

One reason customers have gained the upper hand is the enormous volume of available competitor data at their disposal. Anyone with a smartphone can quickly type your service offerings into a search engine and come up with thousands of competitors.

When it comes to business services, customers expect more because they know they can get it. If you aren’t willing to bend over backwards to retain their business, they know the next guy will. Once customers receive superior service from one company, they are unlikely to settle for anything less from another.

You must remember that every customer counts and that there won’t always be another standing in line behind him should you lose his business. You must also remember that the customer needs you less than you need him.

Customers no longer even need to do business with businesses. If they need a product, they can go to Ebay or Amazon and order it from a kid in his mom’s basement. If they need help with a data entry project, they can go to Guru or Odesk and outsource their project to a self-employed individual in India.

So where does this leave your business?

You must both demonstrate and add significant value to the customer experience. Providing a stellar service offering is no longer enough. Your company must be flexible, adaptable, most importantly, customer-oriented. Listening to your customers is the first step. To set yourself apart from the competition, you must be able to turn what they tell you into actionable, customizable, and valuable solutions.

With so many options at their fingertips, customers simply won’t deal with companies who don’t recognize and understand the power of the customer.

Post a comment or leave a trackback: Trackback URL.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>