Retain Customers through Full Understanding Of Them

Retain Customers through Full Understanding Of Them

Many suppliers claim to be customer-focused though they may often fail to get a repeat order from their buyers. The reasons for this are various; lacking the full understanding of their business customers’ needs is a major factor in failing to retain customers. Customers’ needs are crucial to the success of a transaction. No matter how good your product or service is, the simple truth is that no-one will buy it if they don’t want it or believe they don’t need it. Especially today’s gloomy economy is placing added pressure on suppliers to hold onto existing customers. Understanding the needs of customers appears to be particularly vital in keeping the existing customers.

The question lies in what one should do to learn customers’ needs. The simple way is to communicate with the customers and ask them what they want directly. Although it is difficult for suppliers to talk with their buyers face-to-face, they can communicate with the customers through new technologies, such as MSN, E-mail, and so on. Asking them why they think about your products, price and services. Asking what another service you can do for them. Asking them why they buy or not buy your products. Asking what they may want to buy in the future. Ask all the questions that can deepen your understanding of your customers. One can learn a lot about customers by talking with them. One should also be aware that the lost buyers can also offer valuable information, so one should try to ask the lost customers the same questions if possible.

Learning customers’ needs is not only limited to ask questions. Only asking questions may not show the true picture of customers’ needs. One should capture the full information of his buyers. Suppliers should have a unified view of customers and prospects. For the business customers, suppliers should know who their customers are, what they do, the scale of their activities, the cycles of their buying behavior, their concerns, and other problems that may influence their buying decisions. Only by thoroughly understanding the whole environment of the customers can one applies creative efforts to design a compelling solution that will be successful.

At the same time, keeping an eye on your competitors and the changing market is necessary. New technologies give buyers a broader access to more information about you, and your competitors as well. Buyers have more choices for their buying decisions, accordingly. Better-informed buyers may choose your competitors when you cannot live up to their expectations or when they learn that your competitors can provide better offerings. Therefore, keep an eye on your competitors to stay ahead of them to keep your advantages to retaining your customers. As for the market, it is well known that one will be kicked out by the changing market if one can’t keep pace with it. One cannot afford to neglect the neglect the market.

After collecting the information, one should aggregate and cleanse the information to get the valuable information. It’s better to build a centrally-stored spreadsheet containing all customer data in one place. With the right data, one can uncover business intelligence that will help anticipate customers’ needs, reach out to those customers at various stages of the product or service lifecycle for follow-on sales. Meanwhile, one should keep in mind that incomplete, wrong and out -dated information wreaks havoc on business. Thus, other existed market reports can also be for your reference to full your information while keeping upgrading.

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