How Are We Measured; Create Return Customers in Your Small Business
February 15, 2010 by ebrown
Filed under Engagement Strategies, Social Media Marketing
Good Morning, Hope everyone had a pleasant Valentine Weekend. We spent the weekend Up North (Northern Michigan) at a B & B in Traverse City. I love the drive up, about four hours, as it provides a lot of time to think about things.
I have been pondering lately the debate I am having in my head about Service verses Product. While I would never debate that customer service is ever so important, but does customer service secure the sale. Does great customer service outweigh deliverables?
One of the bloggers I follow, Jim Connolly who has worked in marketing for 23 years and had his own successful marketing business since the mid 1990’s, is best known worldwide for his ability to help businesses make massively more sales and boost their profits.
Jim’s recent post Superb Service, Average Marketing, strikes a similar cord, although he is comparing service to marketing.
I have lost count of how many outstanding businesses I have seen go broke, simply because they failed to market their services correctly. They enjoy superb customer retention, because their services are so good that people just don’t want to leave.
However, because they win too few new customers, their revenues and profits stagnate and if they do lose a big account or have a large, unscheduled financial commitment pop up, they can suddenly be running at a loss. If that loss goes on too long, they are in deep trouble. If only they adopted better marketing, they could achieve great things.
How Are We Measured
It has always struck me as to why certain brands garnish significantly more money for their product or service than their counterpart. For instance, we were walking through downtown Traverse City this weekend and wandered in a Sun Glass Hut. I wanted a new pair of Oakley sunglasses They were priced at $130, which to me is a lot of dough for sunglasses. Although I am not a bling sort of guy, I made the purchase. However, there were sunglasses that were thousands of dollars, and folks were buying those too,
So how are we measured, what does create a return customer, a renewing resident, a long term client?
We would love to here your thoughts on the topic, and what moves you to renew with your vendor or service provider?
From the Twitter Stream; What are your thoughts?
RyanMeray: @kenburbary @eric_urbane Great product with zero/poor marketing will get its clock cleaned by mediocre product in shiny package. #sadbuttrue
6 minutes ago from web · Reply · View Tweet
kenburbary: @Eric_Urbane or you run into either end of the spectrum that Jim describes in his post. A fine balance between the two is needed
7 minutes ago from TweetDeck · Reply · View Tweet · Show Conversation
kenburbary: @Eric_Urbane Fair question you ask. I think the point is you can't ignore marketing or product/service. There needs to be emphasis on both
Great points, Eric. Striking that balance can be difficult, as the two types of customers often require unique marketing in order to convert (or retain).
New customers generally want the quick, “sexy” information in order to make a painless decision and transaction. More established customers often want an insiders perspective or feeling or being uniquely listened to; almost a reverse patronage!
Sometimes businesses use their website to cater to both. One example is via a newsletter: “Sign up for exclusive offers (news, etc).”
I tend to stay loyal to brands that are transparent and engaged. Those who let us know they hear our concerns and excitement (example: http://twitter.com/ShaunaN/status/9163990643).