I keep reading how people are trying to “squeeze” more money out of each customer. That’s the actual expression used.
I have a better idea. Why not think about the solution from trying to delight each and every one of your customers more, and let them choose to buy more from you because of that?
Customers are not abstract things, to be squeezed, like inanimate sponges. They are living, breathing people with issues, problems, wishes and dreams.
Try treating them like that, and you might turn out to be quite successful.
Treat them like a abstract cell on a spreadsheet, and you will more than likely not get very far in business.
How will you treat your customers?
Think about the implications of that on your business. Are you cutting back, laying off customer service staff, programmers, help-desk people? Well, that means you’re looking after your customers less – trust me, don’t try to rationalise it, you are. So, based on that strategy, what makes you think you are going to get your customers to spend more with you? Less is not more in customer service.
During the financial meltdown, sure, you had to make tough choices, particularly if you are a start up. But did you forget to innovate while you were panicking? Did you forget that the customers you have still expect something of you?
Did you forget, while worrying, that your business has a life of its own, and still needs to do things?
Many people lose focus during hard times, and think “management” is all about how to squeeze ever last penny out of the business, saving on “things”. While keeping an eye, and a close eye at that, on cashflow is essential, you can never, ever take your eye of what you do. If you stop innovating, then it’s over.
The Lesson: Stop thinking about you, and think, instead, about your customers and how to delight them.
Think I’m wrong? Tell me why below.
Image credit: 1 Dollar by Photos8.com on Flickr. Creative Commons Usage.
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