The Business Development Bank of Canada suggests that all customers are not equal. While it’s important to treat all business connections with deference, it’s vital that you identify your top customers and give them most of your attention because they are likely the ones filling your coffers. Try to group your top clients by gross margin impact, then sort them into categories by geography, demographics and preferences. This type of analysis lets you develop targeted marketing strategies and research that produces insights beneficial to you and your customers.
Turn Negative Reviews into Repeat Customers
According to Inc. magazine, a personal touch often wins back disgruntled customers. Sometimes, picking up the phone and making a connection helps the customer realize that there are caring people behind your company’s logo. It’s also a great way to find out more about what matters to consumers and how you can better meet their needs.
Learn More About Your B2B Customers
Finding out why your B2B clients went into business gives you valuable insight into their ultimate goals and motivations. Here are a few essential questions you can use to suss this out via a survey or, better yet, a quick phone call:
- How did they get started in their business?
- Why do they believe their product or service is superior to competitors?
- Why is their offering better than their competitors?
- How can you make their lives easier?
Keep your objectives in mind throughout this discovery process. At the end of the day, you are collecting business intelligence to improve or expand your product line and make more money.
Create a Customer Advisory Board
According to Small Business BC, you can get to know your customers by including them in the process. This approach may work best for larger businesses that provide products and services directly to the public, such as schools suppliers, subcontractors for municipalities, commercial developers and transportation businesses. Here are some ideas for whom to include on your advisory board:
- Current Customers. Choose a group of excellent customers to provide valuable product feedback.
- Potential Customers. Find out why they don’t use your products yet.
- Agents/Distributors. Include agents or distributors so they’re tuned in to customer needs.
- Investors. Investors may have important insights into current market trends.
- Strategic partners. Any business that serves the same market segment, such as suppliers, can be considered as strategic partners.
Whether you choose to approach this challenge from a personal or technological perspective, getting to know your customers better is the key to providing them with products and services they want and fatten up your revenue stream at the same time.