The New Year is upon us and it’s time to reflect on things we can improve. In wanting to improve your business, one of the important things to think about is, how genuine is your connection with your customers? It’s time to stop thinking B2B or B2C and start thinking of H2H (Human to Human).
All businesses are ultimately the same. We all deal with humans. Whether we are in a B2B or B2C environment, we interact with other people. Your products and services interact with humans.
We are ultimately in the business of solving people’s problems, pains and challenges. We need to anticipate the emotional state of people when buying our products and services. Thinking H2H will help you infuse your knowledge of people’s behavior and empathy into your business operations.
When we don’t focus on the emotional aspect of our relationship with a customer, we become a one-time provider/seller. We spend so much time, money and energy trying to get new clients, which tend to be the highest cost in our business. Yet we don’t spend enough effort to keep customers once we have them. The result is that we lose the customers before we even recoup the money spent to get them in the first place.
When we fail to deal with customers in a personal way, our interaction becomes cold. Customers feel uncared for; they no longer feel special. Their initial excitement of dealing with us will start to fade away, replaced by negative emotions.
There’s a tendency of businesses to reward the sales team for getting new customers, but do not reward the service team for keeping a customer happy after the sale. This tendency seems universal. There are lots of studies and resources devoted to marketing and sales when compared to those directed towards customer retention. Studies show that companies spend a good portion of revenues on marketing and sales (up to 7%) but not as much on customer retention activities.
The question that comes to mind, how much more profit will your company gain, if you still did business with every customer you ever worked with in the past.
Over to you! Tell us your best practices for retaining customers, do you have any tips you would like to share?
 (Introduced by Bryan Kramer – Human to Human: H2H).