Product Strategy and Why It’s Crucial
This integrated approach is very rare because it requires intensive cross-training, and when it’s proposed to executive management, the typical response is, “But that would cost a lot of money!” However, if a company were to retain 90 percent of its customer base year to year, while adding 10-15 precent more each year, the rapidity of its growth would be very worth the investment.
Consider Apple’s retail stores that are so expensive to lease, build and staff. And yet, Apple’s total retail distribution has current annual revenues of $6 billion, so the company’s investment in customer service is paying off well.
2) Train your staff to handle both the expected and unexpected requests for service with a “can-do attitude and knowledge” that evangelizes your company like nothing else.
This could encompass technical assistance, top-notch diagnostics, instruction, information, or parts selection advice that all create satisfying experiences for customers each time they call on your expertise.
3) Figure out what your customers really like about you and deliver more of that than anything else.
This is a crucial step toward owning your competitive future. If you don’t do it, you are at the mercy of your product’s features and pricing as they stack up against your many competitors. And as we have said, the world is filled with layers of brands that come in all shapes and sizes.
A most important aspect of understanding your customers is knowing that they’ll want different things from you in different situations. The key is to match your product and service offerings to your customers’ preferences, vs. trying to force their needs to fit inside your offerings.
Tom Wants To Hear Your Branding Issues:
Tom Marin, Managing Partner of MarketCues, wants to hear from you! Follow MarketCues on Twitter for branding and social media tips - as well as the latest trends. Tom also welcomes emails, new LinkedIn connections, calls to 407.330.7708 or visit www.marketcues.com. How can he help solve your branding issues?
Tom Marin is the Founder and President of MarketCues, Inc., a national consulting firm. He has worked for some of the world’s largest corporations and middle-market firms. Tom’s focus is to help CEOs drive their strategy shifts and strategic growth programs. Follow MarketCues on Twitter. Tom also welcomes emails new LinkedIn connections or calls to (919) 908-6145.