How To Retain Your Customer - wikiCreator

"We don't want to push our ideas on to customers, we simply want to make what they want."

Premium Model - How To Retain Your Customer? 

Customer is someone or a person who buys goods or services in a shop, restaurant, etc.

When you run Or operate your business, it's very essential to have a command over the loyalty of your customer in order to retain them. 

Loyalty of a customer is defined by 3 factors, Which are Trust, Value, and Commitment. 

TRUST : When a customer trust your product or services.

" A SATISFIED CUSTOMER IS THE BEST BUSINESS STREATGY OF ALL "

VALUE : When your product or services add a value in a customer's life.

" CUSTOMER VALUE IS MORE IN COMMON WITH SELLING AN IDENTIFY THEN IT DOES BY SELLING A PRODUCT "

COMMITMENT : Your commitment towards your product or services regarding customer.

" KNOW WHAT YOUR CUSTOMERS WANT MOST AND WHAT YOUR COMPANY DOES BEST, FOCUS ON WHERE THOSE TWO MEET "

It's very important and essential to understand your customer in order to retain them.

When you run your business, it's governed by you, but it's owned by your customer. if you focus on your product, then you owned your business. But if you focus on the brand, then your customer owned your business.

Let me simplify this premium business principle in the simplest form.

• When you focus on the creation of your product, regardless of what your customer want the most and Quantity over quality, then you have to take care of your business. Which include it's brand awareness, brand promotion, brand loyalty, etc. It's just a product for them and that's why YOU OWNED YOUR BUSINESS.

• But when you focus on the creation your product what's your customer want the most and quality over quantity, then your customer take care of your business. Which include it's brand awareness, brand promotion, brand loyalty, etc. Because it's not just a product anymore it's a brand for your customer. And that's why YOUR CUSTOMER OWNED YOUR BUSINESS.

In this world more than 500 million businesses exist but how many of them you actually know, and that's called a BRAND.

IF YOU JUST CREATE A PRODUCT IT MAY NOT SURVIVE IN THE MARKET. BUT IF YOU BE ABLE TO CREATE A BRAND IT WILL CREATE A HISTORY.

Take the example of coca cola. In the starting, it was not be able to sell 9 bottles of coca cola, but with the creation of itself as a brand, it was be able to sell more than a billions of bottles per annum.

IMPORTANT NOTE

Is it necessary to convert your product into brand, in order to retain your customer?

Key point : Brand Strategy Will Future-Proof Your Business

It means, when you create a brand, you are actually focusing and dedicating your time, patience and consistency in order to solve an actual existing customer problem. In order to deliver your commitment through your service or by a product which is not just a product or a service anymore, it's a really needed thing in the customer's life. And the feeling of enhancement, the feeling of enrichment and the feeling of upgradation, when your customer feels and can't live without it, it tends towards brand.

Let's Summarize the points how to retain you customer.

1) Focus on your product or service delivery time.

You need to know how much time your product or service takes in order to deliver the same to your customer. Because once you understand your delivery time, you will be able to adjust it and the efficiency of your work could give you a plus point advantage in attracting more customers and adding time value in their life. Which directly helps in customer retention in your business, while buying your product or service.

2) Focus on one reason why your customer will buy your product or service.

One reason could be anything, but in your case, it will be the one only reason you want to be known in the market. Whatever the type of business you provide, the service you provide, you have to designate yourself, buy some value, and the kind of value you put in the customer life or create a value in a customer life. That one reason? Find out that one reason in your case in order to achieve the advantages of differentiating yourself with your competitor. And an envelope without address goes no where, so just focus on one reason, why your customer should buy your product or service and what value you are adding to their life.

3) Focus on the quality over quantity of your product or service.

You don't have to create what you want to create, but you have to create what your customer want you to create. If it takes millions or billions of a product or a service, create it or it just required one single product or service, create it. Otherwise you will be struggling to find customers for your product or services that you have created. You will not be able to do that unless and until you specifically focus on quality over quantity of your product or service. People buy things with emotions, and if you failed to engage them, they will never buy it again. Hence always focus on that specific quality that you want to add in your product or service, which you believe to be the proud moment for your brand. 

4) Focus on updating your product or service.

Most of the people in the market, they don't or never upgrade their product or service and that's the massive opportunity for you to upgrade your product or service in order to impact the massive population waiting for you. Fast mover always has an advantage. Upgrading your product or service at a specific time period, may help you to gain massive growth in your business. Upgradation your product or services open doors for unseen opportunity.

5) Focus on converting your product or service into brand.

Beware service is temporary, but a brand is permanent. Once you create a brand, it is been recognized all over the world by its specific value. Your product or service may not be known in the market or by the people, but surprisingly your brand will be recognised in the history. For that reason, you should be more on focus in creating a brand out of your product or service.

6) Focus on customer and product or service engagement time period.

Research says, as much as a customer takes time interacting with your product or services, the probability of recognition of your product or service immensely increases. That's brand awareness, where product or service awareness is directly proportional to the customer and your Product Time Engagement ( PTE : Total Time Spent On Product). Focus on your customer bounce rate and how fast your customer loses interest in your product or service, or how long customers stay with your product or service.

7) Focus on singularity rather than choices.

If you create a product or service in your business, with such a uniqueness, where the people have no choice, for not using it. I must remind you that it will be never ending business that you have created, which is called a singularity rather than choices. Where your customer have no control over its choice of selection of a product or a service, because your customer soulfully believe that your product or service accomplish all the added value, desire and quality.

8) Focus on your customer experience and feedback.

Customer experience and feedback is so essential in order to retain your customer as because their experience create trust on your product or services and their feedback helps in the improvement of your product or service. If you provide good customer experience, which means your customers will tell or will help other people to engage with your business but if you failed to provide good customer experience to your customer they itself step back, and they also affect your future customer. If you be able to manage your customer feedback, you'll be able to satisfy their all need and demands but if you failed to satisfy your customer feedback, other people or your competitor will take its advantage and you left behind.

9) Focus on live interaction with your customer.

Going live and talking to your customer increases brand interaction and brand recognition, which directly help and enhance the productivity and the sale of your product or services. So be sure if you can do a live interaction seminar for your product or service with your customer or audience, in order to tell them about your product service plans.

10) Focus on your customer.

When you focus on your customer and deeply think about his or her life, you actually understand the whole pain, love and care. Which is actually needed in the formation of specific desired product or service. It's essential in the customer life, where customer could never survive without it. For example, the invention of electricity, the invention of cars, or anything which directly affect the life of customer or people.