How customer development will lead to your company’s success

04/07/2017  |  Business Hacks

Okay, let’s take a break from the exhausting process of selling more products and gaining more users for a second. Sometimes companies get so caught up in their ambition to grow and quickly generate profit, they forget to take care of a major key to success: a solid customer development. So, what’s needed to master the challenge? That’s right – a good strategy! Buckle up for some essential tips on rewarding customer development.

Tip for a rewarding customer development #1: interaction

Ever so often neglected, yet one of the most important benefits: business-consumer-interaction. Marketing and sales teams may communicate with users to support them, but what they need is a closer bonding. What makes consumers tick? What are their struggles? What are their needs? Don’t just listen to what they say, listen to how they say it and read between the lines. If someone says, “I could see a lot of people might want this”, it means that they themselves don’t want it. These hidden hints contain important insights, which will help you build the most valuable product or service possible.

Tip for a rewarding customer development #2: customer service

Did you know that it costs more to get a new user than to keep an existing one? Knowing that, you might be interested in taking good care of your regular customers. Investing in a good customer service can be considered beneficial here, since also recent studies found out that 89 percent of consumers have stopped using a service or product because of a bad service experience. A positive service experience, on the other hand, is likely to be communicated to friends and family, which often leads to winning new customers. Coming down to the point: a good customer service kills two birds with one stone.

Tip for a rewarding customer development #3: availability

Constant feedback will mean making a bunch of promises concerning product or brand? Sometimes, the fear of not being able to keep these promises or not having the budget to fix it, may keep you from trying. But feedback doesn’t mean you have to change everything a customer asks for. Already having the option to give feedback signalizes availability and open-mindedness for customers. They will appreciate that their opinions are heard and actually matter to the company.

So, now you got the knowledge on how customer development will lead you to your company’s success. In case you are interested in further interesting tips and tricks to help build a successful business, you can find more on our CODE_n Blog.