08 Mar 2008 12:28:38 | Tatiana Velitchkov
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Say you've established trust with your prospects, and they've
initially bought and used your products.
Later they turned into satisfied customers, and now you're
developing wonderfully long-term business relationships with
them.
But a few months/years later they turn to you and suddenly say,
"I'm starting to need new features on this product." OR "I need
something done, and although I know you don't usually do it I
think it's within your expertise, so I was hoping you could be
the one to do it for me."
What if what they're asking for is really something you're not
ready to offer yet? And what if they reach the point where they
badly need it NOW, and are forced to make a choice between
staying with you and going somewhere else?
Do you just tell them "I'm sorry, but we can't offer that right
now." and sadly let them go?
Or do you realize that it's much easier to keep these valuable
clients loyal than to spend more money attracting new ones, and
find ways to give them what they need?
There are no hard & fast rules for answering this kind of
question, but it's a situation most business owners will
eventually have to face.
It's called the CUSTOMER GROWTH PHENOMENON -- and if you prepare
yourself early on in order to meet its challenges, it could mean
the growth & success of your business as well.
Evolving Customers = Evolving Needs
----------------------------------- General Motors understands
that their customers inevitably change, and so created their
different car models to adjust to those changes.
While their clients are young and have generally moderate
incomes, GM offers them the sturdy & reliable Chevrolet. But as
these consumers grow older and get better jobs, GM capitalizes
on the trust they already established by offering them the
performance-driven (and more expensive) Pontiac. A few more
years later GM assumes they have climbed the corporate ladder
and feel deserving of a well-earned break… so they use their
same established relationship to sell them on the luxuries of
the high-priced Cadillac.
In the same spirit of customer retention, soft drink
manufacturers have come up with low-calorie diet versions of
their products, while breakfast cereal manufacturers created the
executive "power breakfast bars."
The fact is, these businesses owners know that marketing isn't
just about getting new clients to notice them and buy their
products ONCE.
They have seen the big picture, and have taken the necessary
steps to get existing clients to KEEP ON BUYING their products
-- and even encourage inactive customers to come out of the
woodwork buy from them AGAIN.
THEY have adapted to the customer growth phenomenon -- and
there's no reason why you shouldn't do the same, too.
Rise To The Challenge --------------------- The simplest way to
meet changing client needs usually involves just 3 adjustments
to your product/service:
1) Add new features. Listen for what their new needs are, then
study your product closely. Most of the time, you'll find that
you only really need one or two new features to improve what's
already there, and make it enough to satisfy most clients.
2) Create an enhanced design. Sometimes it's not so much how a
product works, but how a product LOOKS that makes clients decide
they want something "new."
Whether you're talking about computer casing, or food packaging,
or how cute the icons are in your program's taskbar, remember
that:
- different age groups have different design preferences -
changing trends & lifestyles require properly-designed products
- and people will always have a basic need to express their
individuality & stand out -- and they often do so through the
products they use most often.
3) Increase the range of selection & availability. Add new
flavors. Create different-sized packages. Make your products
available as downloads AND as deliverable CDs. Or enlist your
business partners' help so they'll make your services available
on their sites, too.
Although the decision to change or grow seems intimidating at
first, breaking them down into smaller steps of adjustment makes
them more manageable -- and more affordable -- to execute and
control.
Decide to GROW -------------- The moment clients increase or
change their expectations of your product, it often means 2 good
things:
1) They (or their business) have recently grown because of you,
and 2) Their increased expectations often signal an increase in
purchasing power, making them more financially able to do MORE
business with you.
So don't be afraid to change, and dare to go where no
entrepreneur in your position has ever gone before.
Whether you end up creating a new product or just retaining a
valuable client, it can only mean BETTER things for you & your
business, too.
© Tatiana Velitchkov
About Author :
Tatiana is the publisher of: www.TheFortunesEzine.com, the
FortunesEzineWeekly at www.TakeYourFortune.com, and owner of the
traffic-solution slam advertising sites www.Guaranteed-Hits.com
and www.Guaranteed-Hits.net