A Quote by Richard Branson
Setting customer expectations at a level that is aligned with consistently deliverable levels of customer service requires that your whole staff, from product development to marketing, works in harmony with your brand image.
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Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
Your customers are the lifeblood of your business. Their needs and wants impact every aspect of your business, from product development to content marketing to sales to customer service.
Business is all about the customer: what the customer wants and what they get. Generally, every customer wants a product or service that solves their problem, worth their money, and is delivered with amazing customer service.
Customer expectations? Nonsense. No customer ever asked for the electric light, the pneumatic tire, the VCR, or the CD. All customer expectations are only what you and your competitor have led him to expect. He knows nothing else.
Your business should be defined, not in terms of the product or service you offer, but in terms of what customer need your product or service fulfills. While products come and go, basic needs and customer groups stay around, i.e., the need for communication, the need for transportation, etc. What market need do you supply?
All the businesses from the beginning of history have struggled with product development (assuming there is a market, doing the market testing and so on). But now they start with customer development. Get the customer who says, "Yes. I want that. I need it. I wanna use it. I'll pay for it." And then you go back and work with your engineers. It is changing the world!
Does the customer invent new product or service? The customer generates nothing. No customer asked for electric lights. There was gas and gas mantles, which gave good light.
What the customer buys and considers value is never a product. It is always utility, that is, what a product or a service does for the customer.
Quality that significantly exceeds the customer's expectations doesn't seem to pay off. This 'delight the customer' stuff isn't rewarding. One has to be careful about delighting customers too often, because it sort of reshapes customer expectations.
Every customer interaction is a marketing opportunity. If you go above and beyond on the customer service side, people are much more likely to recommend you.
As the owner, you have to look into the mind of the customer and see and feel how their relationship to your product works - not just that the product works.
The risk of relying on a handful of customers is not just financial. Your product also is at risk when you're at the mercy of a few big spenders. When any one customer pays you significantly more than the others, your product inevitably ends up catering mostly to that customer's specific needs.
The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
A product is something made in a factory; a brand is something that is bought by the customer. A product can be copied by a competitor; a brand is unique. A product can be quickly outdated; a successful brand is timeless.
Look, I think that when we started Virgin Atlantic 30 years ago, we had one 747 competing with the airlines that had an average of 300 planes each. Every single one of those have gone bankrupt because they didn't have customer service. They had might, but they didn't have customer service, so customer service is everything in the end.
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