Using Research and Customer Information to Maximize Business Potential

The cornerstone of any business is a loyal customer. That is why in September, our main focus has been on building strong customer relations using customer information supported by excellent service. The two simply go hand in hand. Starting in October, we will start a series, “Using Conference Calling to Define Service” building on that foundation. Conferencing can be a cost effective and simple way to facilitate this customer research and information gathering in order to provide the best in service.

Last week, we discussed the importance of excellent customer service in building loyal, repeat customers who makes referrals. Earlier in the month, we outlined ways to know your customer as well as steps to gather market intelligence. All the suggestions offered will help to serve your customer base. Ultimately, this customer knowledge can help your business reap tremendous benefits. We strongly emphasize that gathering this customer knowledge has to be a priority. It just doesn't happen! Outlined below are suggestions that will make this research a reality.

• Categorize your clients by type of business. No matter how small or large, it is important to segment your market. For example, if you find that a majority of your clients are in manufacturing or in financial services, you need to look at your client base by these major categories. When you get comments from customers, you can see if there is a trend by business category. Also, if there are several main categories your business is in or wants to be in, start reading on these industries using the internet and major industry publications. This research will allow you to be proactive, providing solutions to your clients.
• Every customer contact can help you to maximize your understanding of their needs for your products and services and should be part of your research effort. Always take the time to ask the questions on ways to maximize their satisfaction of your service. It is as straightforward as always asking the question, “Did this product or service meet your needs?” Listen to what they say without interrupting. If their response is non-committal or non-specific, you need to clarify with a simple clarifying question, such as “Could you explain what you mean?”
• Paraphrase what you heard your customer respond to your question. Showing you understand their response to your questions, shows you care. It also can eliminate misinterpretation.
• If indicated, you should also ask about any problems or potential issues. A comment that indicates a negative impression or action by your client that could potentially jeopardize your business and needs to be identified as quickly as possible. You need to ask for clarification.
• We would suggest having a weekly log for customer contacts. On this log, list the customer, date, business category, response to your questions, and what action is needed, if any. Review the log sheets at the end of the week to see if there is a pattern. Identifying similar comments can indicate several things: it provides ideas for services or benefits to promote to your other customers; identifies problem issues that need to be corrected immediately; and indicates trends that should be tracked for future action.
• When you have conference calls with your clients, make sure you listen for any suggestions on services and products. These comments can be added to your customer contact logs.
• In an earlier blog on market intelligence, we suggested having regular market intelligence meetings with key clients using conferencing. These meetings can be an invaluable way to gather information on your clients future needs. These meetings can use audio or web conferencing and provide convenience and flexibility. The information gathered on product and service issues should be added to the customer contact log and reviewed for trends.

Asking the right questions to research and understand your customers and their needs is essential for building customer relations. It is also essential for maintaining and growing your business. You also need to carefully review these comments for any trends. This analysis can provide insights for new market opportunities as well as identifying potential threats. The complete offering of conferencing services Two Rivers Conferencing provides can help you gather this valuable information in a cost and time effective manner.