A Quote by John Rampton
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.
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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.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
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.
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?
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.
Your customers are judging every aspect of every transaction and rating everything, from friendliness of people to ease of doing business to quality of product to service after the sale.
Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you.
80% of all products and services that will be on the market in five years do not exist today. So therefore, always be innovative, always be creative, always think, 'What new products or services could I create, could I represent, could I joint venture?" Sometimes you can find someone else that has a fabulous product or service that you can use your existing business or resources to sell and you can double your income or sales in your business by selling somebody else's product to the same customers that are buying yours.
Doing business is all about providing a good product or service to your customers. A good businessman is he who knows that what is successful today may not be so tomorrow. Technology changes so fast, and so do people's needs and wants. That's why it would do well for a businessman to know how to adapt to change. He must constantly reinvent the business, or it won't last.
The key to growing a business is that you need to be meeting some segment of the consumer's needs. If you've got a small business and a product or service that is not popular, you simply have to change your product or service to be more popular.
Every business is a service business. Does your service put a smile on the customer's face?
Rural technology is moving from kind of the back office to where everything, every company - sales, marketing, customer acquisition, new product development, media - all industries are becoming technology industries. And it's not information technology: it's business technology.
You have to be passionate about your business. If you don't love your business, you are doing a terrible disservice to your customers and clients, your team members and business partners, your family and yourself.
Part of Customer Development is understanding which customers make sense for your business.
Having been in the restaurant business, our job in the restaurant business is to be responsible for our customers' happiness. It's the nature of the hospitality business. You need to take care of people. You take care of customers above all others. Customers are your lifeblood.
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.
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