“I prefer Uber” says one customer..
“Bolt (Taxify) does it for me” says another..
“Little Cab, SWVL, Mondo ride, Safe Boda”…
In a world with multiple options to choose from, what really makes a business stand out among the masses and retain loyal customers?
- Discounts/ offers?
- What emotions your business arouses in the customer?
Understanding every touch point in the consumer journey is very crucial for every business: Who is your target audience, what are their passion points, pain points, desires, brands they relate with, location, what makes them return?
After determining your target audience how do you retain and convert them to LOYAL customers?
Fact is customers will not care about your brand no matter how renown, classy or affordable unless you satisfy their needs, desires and solve their problem. That is What Customers Really Care About.
Here are 4 things to avoid as a brand/ business and be different from the crowd:
- Avoid price wars- instead of a brand always focussing on pricing, how much rather to focus on Customer Value. It’s all about the customer.
Does the brand fulfill the customer’s need? Does it offer maximum value to the customer? What’s the user experience like (Is the customer content with the brand or do they have something to complain about?)
As a brand it’s always better to focus on negative feedback from customers more than positive feedback. That way you will understand how best to fulfill your customers needs.
No matter how pricey or affordable a brand is, customer satisfaction is key in keeping loyal customers.
Customers will choose value over price anytime!
- Decide who not to sell to – it’s very easy to determine who ones key customers are. But how about evaluating and deciding which kind of customers you don’t want to sell to?
Knowing who is NOT your target customer will help the business to determine who doesn’t fit the bill. There’s no need to waste time on an audience that doesn’t convert; even if they love the brand. Conversions are necessary for any business to generate revenue.
Being clear on this aspect will save the business Time that would have been wasted shooting in thin air and Money that would have been wasted targeting the wrong audience.
- Be clear about what your customers will pay for – from the very beginning it’s important for a brand/ business to determine the pricing model. What’s the profit margin? Should there be offers/ discounts or bonuses, will the brand still sustain itself?
Being clear about the price, service or product you are selling will enable the company make profits from any transactions as opposed to facing losses should there be seasons when promotions/ sales/ discounts are running.
- Sell outcomes, not products- It is crucial for any business to focus on the value to the customer as opposed to being very product centric. The aim is to attract customers through offering quality service, greater business efficiency, quality customer service and a great user experience!
No matter how affordable your product or service is, customers will quickly shift to a more pricey brand because of the great experience and value they get from a brand.
It is important to LISTEN to customers all the time! Be HUMAN!