How often it happens that we find the thing that we were looking for so desperately right in front of our eyes. And we feel shocked that why we didn’t look there in the first place. I have found this true even in the case of online businesses.
Many times when we are not able to figure out something, or something goes wrong, or is not working the right way, our first reaction is always to start analyzing the external factors. We look frantically at the data as if the data will answer everything we ask for.
We conclude that maybe the digital ad was not right, maybe the audience targeting was not exact, maybe the blog was not as informative as it could have been, maybe the checkout experience is not as smooth as it should be. And we just find ourselves lost in this sea of various possibilities.
At this time, as a business owner, you fail to look right in front of you. Many times the secret of your business growth is so close to you that it becomes invisible. Like in this case, the thing that can change your business can be hidden in your employees.
You are already aware of how your employees contribute to your project but do you know that they also contribute to customer value.
What Is A Customer Value? Is it Connected with Customer Satisfaction?
A customer value means the set of all the benefits you are offering to your customers when they buy your products.
It can be a pair of shoes that are of high quality, affordable, can be easily returned if the customer doesn’t like it, comes in many colors, and has great shock-absorbing technology.
Yes, it is very well connected with customer satisfaction.
How to Increase Customer Satisfaction by Increasing Customer Value?
The process of customer value creation is not the responsibility of just one of your departments. It is a shared responsibility. All your departments are required to work together to create it. Share on X
All Your Departments Need to Work Together
The Finance department will contribute by figuring out the best financial decisions that you should take that will not just provide the best financial value to your customers but also to you.
The HR department will contribute by helping you hire the best talents which will help you in creating the best and high-quality value for your customers. And so on.
So you can see how every department plays an important role in creating the final value for the customers. Customer value moves from one department to another department becoming bigger and bigger.
If the value is big in the end that means your departments have worked together and understood their responsibilities well in contributing towards this process of customer value generation and distribution.
How to Increase the Customer Value?
If your generated customer value is still small, this means there is still some problem in the ways your teams are working together. Maybe they don’t have any common goal or maybe they are not working as one team. Business marketing strategy for customer value.
If that is the case, you have to make sure to make your employees a part of your mission and vision so they can also sync their department goals with these.
Want to Increase Customer Satisfaction? Here’s the Secret No One is Telling You
As important as the process of customer value creation is, equally important is the process of customer value distribution. My question to you who do you think is responsible for distributing customer value?
Marketing department?
Definitely No!
Everyone who is involved with your project directly or indirectly is actually responsible for creating as well as delivering customer value.
It does sound a little surprising keeping into consideration that the marketing department has always been the one associated with the brand message communication part.
All the successful organizations have already learned why this mindset is not productive for long-term business growth and they have introduced changes.
Example 1: What Leads to Reduced Customer Satisfaction (Small Size Company)
Let’s take an example to understand this. You are a small size organization with a team strength of 50.
Being a small company, you don’t have a customer care team and most of the time marketing and sales assistants handle all the customer calls and queries.
There is a person ABC working in your finance department. She is good at her job but has no clue about marketing or anything even remotely associated with that word.
One day during lunch break when most of your employees are out for lunch and a few others are busy in meetings and responding to calls, the business phone rings.
She picks it up. The phone is from a customer XYZ who is interested in purchasing ten of your most expensive products but she has some questions that she wants to be addressed before she places the order.
Realizing that nobody from the marketing and sales is available at the moment, ABC asks that particular customer to call in a few hours.
What did just go wrong?
You just lost a moment to wow your customer and give them the experience of what it feels like to be associated with your brand.
If you’re thinking these cases don’t happen, let me start by telling you that this happened while I was working as a marketing manager many years ago. It didn’t happen just once but many times.
I tried explaining the problem and the importance of such brief moments in converting leads to the CEO but he shrugged off the suggestion.
It’s not about teaching marketing basics to all your employees, it’s about knowing and loving the product that you are working on.And when anybody asks you anything related to this, you are easily able to transfer the same love and enthusiasm that you have from yourself to any other prospect whenever there is any formal or informal interaction.
In short, it’s a simple process and doesn’t need much effort to form a business marketing strategy for customer value.
Example 1: What Leads to Reduced Customer Satisfaction (Mid to Large Size Company)
This time let’s talk about a medium to large size company. One day during the weekend one of your employees, a web developer, was having a casual chat with a stranger in a coffee shop.
The stranger seems to be looking for the same kind of products that the company he was working for specialized in.
Who do you think is a salesperson now? Your web developer.
Right now he has the power to amaze that customer and make a sale. Or he can delay the process and ask the prospect to contact somebody from the sales or marketing team from his company.
What will happen now? Chances are there that the prospect will forget about you as he is wooed by some other web developer from a competing brand.
There can be infinite interactions like these that happen all the time. All your team members are more than often coming so close to your future customers. They can increase awareness about your products!
That’s why I say marketing has never been one department’s job, it is a team effort. Every one of us is a marketer in various ways and in various situations and that is the best business marketing strategy to get customer value.
Sometimes we are marketing ourselves to our employers to get a raise, sometimes we are marketing our kids so they get a better school, and sometimes we are marketing the company we are working for because we are proud to be associated with it.
What Is A Customer Touchpoint?
Any interaction between your customer and your brand is known as a customer touchpoint. Customer touchpoints play a very important role in attracting, converting, and delighting your customers.
You can either make these customer touchpoints exciting and delightful so your customers fall in love with you or you can make these touchpoints boring and dull so they run away from you. The choice is yours.
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How Is Customer Value Connected To Customer Satisfaction?
The more customer value you create, the more satisfied your customers will be in the end.
This increases the bundle of benefits they are getting by buying your products. When your customers are satisfied and delighted by their interaction with your product and your brand, they turn into loyal customers. And loyalty, my friend, starts the process of online business growth.
Conclusion
Increased customer value leads to increased customer satisfaction.
In short, there are a few important things you have to remember.
All your departments need to work together. Make sure that you have shared a common goal with them, so the department goals are perfectly aligned with the main business goal. There should not be any confusion.
Make sure there are not those moments where the finance department is trying to reduce the price because that’s their department goal but the technology department wants a new feature in the product which will enhance the product performance but will also increase the cost.
They should both work together and figure out how to best accommodate both departments’ goals so better customer value can be created.
Second, remember the importance of marketing. Transfer the same passion and love that you have for your product to all your employees. If they are also as passionate about your product as you are, imagine how many happy experiences they will be able to create for your customers.
If you need help with your marketing goals, get in touch with us.
“Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt
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