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Customer Collaboration

Friday, March 01, 2013   By Mike Reddy

 

It’s not rocket science - increasing customer interaction leads to an improvement in customer experience, satisfaction and loyalty.

Read: the more the customer feels valued and part of the process, the more likely they are to become a repeat buyer.

Simple, right?

The shocking statistics say otherwise. In 2012, Forrester’s Customer Experience Index noted that only 37% of brands received rankings of good or excellent when it came to customer experience.

So what can you do to be part of that group of 37%? Increase interaction with the customer, at all levels.

Is it time for your customer to upgrade? Is there a promotion that will benefit them? Get in contact.

Ideas are the currencies in today’s market. Incorporate the opinions of the customers when coming up with the next big thing. Instigate a ‘design your own’ contest and let the customers do the innovating for you!

Utilise your customer base as a soft-launch testing ground. Have a new product, service or idea? Run it through a focus group, send out a survey or give out free samples to customers who represent your target market.

Increase loyalty by encouraging brand ambassadors. These customers will champion your business effortlessly, through various channels at relatively little cost.

An engaged, loyal customer is a potentially consistent source of revenue. Continue to up-sell and cross-market to your best customers for continued increases in revenue.

An ambitious and pro-active strategy will keep these collaborations lucrative. In the world of social media the scales have tipped and the customer now possesses more power than ever before.

This power shift is changing the way products and services look, feel, perform and, ultimately, succeed or fail.

To tip the scales in your favour simply give the customer what they want. Provide the customer with service on their terms. And provide that service through a number of channels - email, Twitter, Facebook, phone. Multi-channel customer service is a must.


Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.