A question that I often ask my clients is, “Why do your customers choose you?” It’s essential to know this when you’re looking for new growth areas or turning around declining sales. Why? Because you want customers to keep choosing you!
If you lack a clear picture why your customers prefer your products, you risk developing product features or marketing messages that don’t appeal to them or – worse – alienate them.
Humble Bundle, a video games retailer, recently annoyed some of their customers by limiting the amount that could be donated to charity. The customers complained and the retailer has apologised and reversed the change. It hit too closely to the core of why those customers chose them over other retailers.
Customers of Philips LED drivers whom I interviewed some years ago said that they chose Philips because their drivers were the most reliable. This means that Philips (now Signify) have to maintain that reliability in their products and services.
To make that happen, everyone in the organisation needs to know that reliability is important to customers.
Too often, such insights are limited to the marketing team. Make sure the people in innovation, product management, sales or finance know them as well.
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