5 reasons to keep in touch with your customers

The heartbeats of all businesses are customers. So it is crucial for the success of your business to be constantly in touch with your customer base. The moment when you start focusing on some other part of your business and take your attention away from your clients is the time when you become irrelevant.

Business weekdays can get very busy, so emails look like the easiest and quickest way to contact your customer. However, the truth is that nothing can be better than phone conversations and personal meetings with your client. Here are some reasons why you should make time for your customers and do it with a personal approach.

1. Reveal new needs and trends

To stay up to date is a forever question of all businesses. What was actual last year, may become just a page in history today. If you want to prevent yourself from losing your clients to competitors or becoming irrelevant in your industry you should always be in touch with your customers and try to find out what is new in their businesses. The more you care and demonstrate your willingness to find the best option for your client, the more you learn about your customer. And if you really listen to each particular customer, it will become easier to identify new trends and opportunities on the overall market.

2. Higher repurchases and loyalty

Strong relationship means that your customers will come back and make repurchases. Sometimes they are not aware of your other products or services you provide. An occasional phone call can be a great opportunity to let them know about your new solutions.

3. It is cheaper to retain customers than get a new ones

The statistic speaks clearly: it is more affordable to retain your old customers than look for new ones. Once you admit this fact, you will be keen to provide as satisfying customer service as possible to keep your current clients.

4. Get testimonials and results of your customers

If you stay in touch with your customers you can easily get to know the results they are achieving with your products or services. Thanks to these testimonials and case studies from your customers you can find other possibilities how to help and improve your customer services. If you casually ask your customers how your product or service has helped them, they will be flattered that you value their opinion.

5. Build relationship

The power of a trusting relationship should be never underestimated. You have already invested time and money into getting your customers so why not to do everything you can to keep them as well? A quick call to see how they are doing or if everything is in order is a great cause for customer loyalty. Your ongoing support and attention will definitely help you to build a long-term relationship with your clients.

Why are customer satisfaction surveys important?

Why are customer satisfaction surveys important?

Let’s agree: there cannot be a prosperous and successful business without a happy customer. But how do you find out if your customer is happy and satisfied with your product? That is where the need for customer satisfaction survey appears.

The customer satisfaction survey is an instrument that helps you to receive both positive and negative feedback from your customer in an easy and convenient way.  It can be performed online, via e-mail, face-to-face, per telephone or even on the paper (Business Dictionary). Regardless of the method, you have to make sure that you reach as many customers as possible and ask them questions, which will help you to analyze your company’s performance. So what do you get as an outcome after you invest your time and money into customer satisfaction survey?

First and foremost is customer loyalty

It has been already proven that it is 5 times cheaper to keep an old customer than to find a new one. (Invesp) However if your customers know that you care for them, that you listen to them, they will never leave. A simple survey question: „Where do you want our company to improve? “ can create a positive attitude and differentiate you from your competitors.

Product Quality Improvement

With the help of the customer satisfaction survey, you can look at your product or service from a different angle and try to improve. In the end, the customer is the one who uses your product, so his opinion should be counted.

Positive Branding

What if your customer leaves a negative feedback online? It will be better if you are the first one to find out about it and react fast. In the age of social media, one negative comment can harm your branding. (Quora) On the other hand, giving your customers a chance to express their attitude through the customer satisfaction survey will only improve the image of your company.

Personal approach

In case there is a problem, every customer would like to solve it with the company as soon as possible and get a ready solution. However, not all companies are fast enough to react to dissatisfaction and that is how they start to lose customers. When analyzing the results of your Customer Satisfaction Survey, you get a chance to contact your unhappy customers immediately and offer them a special discount or some other benefit. This special treat will be a positive surprise, which may change bad experience to a good one.

As a final argument, try to imagine a happy long-term relationship in which people don’t talk to each other. That seems impossible, right? So, how should company-customer relationship work if there is no dialog between them? Let a well-planned customer satisfaction survey be this magical conversation, which makes both happy – a company and its customers.

The last but not least, when finally the decision for performing customer satisfaction survey is made, company should consider if they are ready to do it by themselves or it will be easier to outsource. Katrium team has prepared some ideas about outsourcing for you  in this blog, read here. 

Katrium – 12 years of experience in research and customer satisfaction surveys!

Why is market research necessary?

Before we try to understand why market research is necessary, first, we must understand what it actually is. As cheesy as it sounds, it is actually very important to understand the core meaning of what market research stands for; because it is way more than just a simple Google definition.

What is market research?

Simply put, Market Research is the process of gathering, understanding and analyzing information about a market. This includes a particular product or service that would be introduced to the market or already existing goods. Furthermore, this process requires us to dig deeper to better understand and/or predict the sales potential in that market.

It should also include the potential customers, new or already existing and goes deeper to find their spending patterns and habits, always keeping in mind what are the needs of your customers or potential customers. Lastly, knowing your target market and getting to know that industry as a whole. It is always beneficial to know about the competition you might be facing, which already makes the competition to loosen up.

Market research brings a ton of advantages to your company. Therefore, investing in it is a great idea, it proves to be more beneficial than secondary market research. Which means, you collect data from existing market researches done for your industry. Although, it might prove to be handy and convenient but the source of information and the information may not be that valid or might not apply to your business traditions and ways.

Following are the critical benefits your company would gain through market research:

  • Potential customers (understanding who your next customer may be)
  • Existing customer (making them feel heard and satisfying their wants)
  • New strategies & current challenges (pretty self-explanatory)
  • Setting realistic goals (we should shoot for the stars but realistically)

These are just a few of the many benefits you can achieve with conducting proper market research. Moreover, it depends on how greatly you use these benefits for the success of your company. Making the most out of it would prove to be beneficial in ways one could only imagine and would put you at least two steps ahead of your competition.

Happy customer, happy life

Good market research will let you know about how happy your customers are and what updates or future expectations they may be expecting from you. Often companies ignore the wants and needs of the customers, who actually made it possible for them to reach their goals. Regardless, the top-class companies are always open for feedback and will listen to their loyal customers like no one else.

It is almost as simple as listening to your customers and letting them know they have been heard, resulting in long-term loyalty.

A market research helps you determine and predict the ways your competitor will approach and according to that you can strategize your next move carefully. How much to spend on promotion, where to promote, what would be the best price, which target audience all of these strategies can be assisted by proper market research. Moreover, you would already know the likes and dislikes of your customers, accordingly you could plan your approach and prepare your tools.

Furthermore, not only does it help you strategize towards the market, it also helps you correct your strategies within your business. With proper market research, you might stumble upon challenges within your own company. This could include departments that you have been investing a lot into or pressurizing, which do not even affect the market significantly. You might also discover some unnecessary steps that you might be taking in production or in other departments, which could help you cut down costs.

Last but not least, it helps you acknowledge newer opportunities. Markets or opportunities you would have not thought of approaching or hitting in the near future, could seem very well interesting now. Moreover, they may even seem like the next big project that you want to dive right into.

Market research is very vital for your own company. Although, there are tons of market research already available and done for different sectors. It could prove to be useful but it is very arguable how beneficial it could be for your particular company. Market researches done on a general level are ofteen not very beneficial compared to personalized market research.

Author: Syed Bukhari

Find out more about our market research services www.katrium.eu/research