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21 February 2022 Published in Blog Written by 

Track What Your Customers Expect Featured

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Examine Your Market Often 

Designing your 2022 business strategy should have included a market analysis. But most likely the strategies outlined may have changed since your initial analysis … as a result of COVID for two years. So, it makes sense to identify all new curve balls that have already impacted your market if you intend to extend your success.

Do You Really Know What Your Customers Want & Need?

Consider:

  • Customer Needs - As business trends evolve, so will your customers’ needs. Analyze how your products and connection to them could better support your customers’ needs and their choices.
  • Economic Changes – Focus on local economic shifts since it has a bigger impact on how your business performs and survives, such as: seeing more job opportunities or a general increase in local wages, benefits, etc. each likely to have a major effect on your business.
  • Competitor Status – Pay close attention to review where your business stands in comparison to your competition. Evaluate why customers select your products or services over your competitors.

Customer Retention Must:

  • Maximize customer satisfaction for current customers
  • Identify dissatisfied customers before they leave
  • Assess why current customers leave
  • Then get busy – Fix It

Yes, the “Customer is King.” You already know this, but keep in mind that customer retention requires attention to customer details. Establishing personal relationships is difficult and time consuming. It causes your business to lose its “personal touch” caused by on-high direction. Just remember that your expansion should somehow allow your customers to come along with you. Because they are your friends too, find ways to sustain a bond between what you produce and what they want! Recalculate with your management,  employees and your customers when making these decisions.

Effective customer retention management helps you build your business without losing the friendly face of your business. As your business evolves, the customer retention targets continually shift too. Customer surveys can provide solid feedback to your decisions, so stay in touch by looking at their perspective:

  • Discover defects – work on novel approaches
  • Identify dissatisfied customers before they leave
  • Keep your employees involved – they are the ones on the front lines
  • Benchmark satisfaction and customer retention while analyzing loss levels too
  • Then plan customer retention solutions – Do it!
  • Establish standards for excellence – then tell your customers about it
  • Examine your process management/improvement tactics – Upgrade where needed
  • Never drop you promise of satisfaction and improvement to your customers

Good for you if your business is still alive in February 2022 – even better if you are prospering. Given the new life-saving tactics you’ve made during these two years has likely pushed you into new and mysterious zones you never anticipated … but have been necessary. So, you are in the gym now, you’ve got those new muscles working and getting stronger. Keep working out and just remember to carefully watch what customers want, what your competition is up to and follow the economic yellow brick road.

HQZ Experts awaits your call or email about any question about this topic.

Pat Dwight - HQZ Experts’ helps you evaluate your email strategy ... Questions? Contact Pat Dwight: This email address is being protected from spambots. You need JavaScript enabled to view it. or call: 949-454-6149.

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Last modified on Monday, 21 February 2022 16:54

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