The clients of today are overly critical and knowledgeable. Their goals can be lofty, bearing in mind the plethora of choices available. It’s therefore your responsibility to manage the expectations of today’s customers. Otherwise, your business will not have a competitive advantage.
Here are 5 strategies for managing the expectations of today’s customers.
1. Offer High Quality Services
Most business owners think that offering lower prices is going to help them meet the expectations of their clients. Whereas this is a strategy in itself, thinking about offering high quality products and services sets you apart.
The Institute of Customer Service states that 60 % of customers would rather balance between price and quality. In other words, they’re unwilling to take poor service just because the prices are low.
Therefore, your business should have the issue of high quality solved. Otherwise, it’s very difficult to solve quality problems at a later stage of product development.
2. The Importance Of Transparency And Clear Communication
Matters of transparency cannot be compromised. You need to ask yourself if you give realistic expectations when you’re rolling out a product. What is the point of hyping and exaggerating a product when the clients will discover the truth anyway?
Suppose you made a mistake or you’re facing a crisis. In this situation you need to have a clear communication strategy and do not lie about the mistakes or recommended action.
3. Taking Feedback Positively And Continuously Working On It
Sam Walton, the founder of Walmart, stated that a business has only one boss (the customer) and this boss can fire anybody in the company, from a CEO all the way down to the least paid employee.
Therefore, make a habit of listening to feedback, take it positively and respond to it. For example, if only Blackberry took the feedback of clients seriously it would not have been edged out of the smartphone market.
As recently as the year 2011, the company was one of the most dominant and successful ones in the smart phone market.
4. Have A Customer-Centric Corporate Culture
Having a customer-centric strategy should not be the responsibility of the support team. As a matter of fact, it’s the responsibility of every member of the business to be client centric.
One of the best ways of being customer centric is involving your customers in the decision making process. For example, you could involve your customers when you’re adding a new feature in the product and you could ask them their opinion about it.
Conclusion On Managing The Expectations Of Today’s Customers
The dynamics shaping the expectations of customers are fluid. They keep on changing. You need to be elastic too and change with the expectations of customers. The bottom-line is that today’s customers have baseline expectations and at the minimum, you must meet them.
As far as you can, try to exceed these expectations and you’ll create a sustainable business model for both the present and the future.