Customer Analysis for Long-term Business Relationships
All important strategic decisions should be based on facts, which is the foundation for successful change management. A Customer analysis from Hubbster provides insights from the customer’s point of view. This is an important part when it comes to creating good customer relationships, as they can be further improved by trusted facts rather than guesswork. By conducting comprehensive analysis of your customers, you can unlock new ways to improve both the services and collaboration.
In fact, a satisfied customer is not just vital for the financial success of your business, but also highly important when it comes to marketing purposes for your own organization. Recommendations from existing customers can prove to be valuable when pitching your product to new potential ones.
Let us introduce you to the concept of customer analysis and show you how we can unlock new opportunities for your business together.
How a customer analysis is conducted
To complete a beneficial customer analysis, we must always start by asking ourselves two vital questions.
- How can we secure that the results from our analysis will prepare the material to support our decisions with facts?
- What are the core questions we search for answers to?
We believe that the preparation and the analysis of the results are the keys to cover the core questions so that you can further work towards your goals.
This is why we call this service Customer analysis.
For you to be able to deliver satisfactory results to your customers, you will need to know their priorities. However, equally important is the understanding of what may displease them. By delving into this aspect of your business relationships, you will be able to foresee circumstances and therefore avoid customers leaving and ensure your reputation remains high.
We promote the use of NPS, Net Promoter Score, to help set goals and prioritize which actions to take next. This approach will help you work actively and systematically to improve your long-term customer relationships.
Why is it good to conduct an analysis?
So,what are the reasons your organization should allocate resources to conduct a customer analysis? To answer this question, we cannot rely solely on one argument as there are several benefits:
- Customer analysis creates a foundation for long-term relationships
- It provides your organization with a hedge against incorrect decision making
- It can be a guide for your next steps
- The insights from a customer analysis can help improve your relationship with the customer before they leave for another service provider
- Customer analysis helps increase the general customer satisfaction
- You will get valuable data which can improve your marketing efforts
Trusting our customer analysis to create a clearer picture of your customers needs, you will be able to provide them with customized offers. They will recognize how your organization cares for them to succeed, which enhances customer loyalty and satisfaction. These are fundamental aspects of gaining long-term business success.
In addition to the improved relationship between your organization and the specific customer, this will also benefit your reputation. A great reputation has the power to grow your customer base further, in an organic and incredibly profitable fashion.
As a matter of fact, a publication from Harvard Business Review showed how a company can improve the profitability by up to 95% by holding on to 5% of their additional customers.
Awareness of what is important to the customer
For you to deliver great service and satisfy your customers, you need to know what priorities to make. It is also very important to spot dissatisfaction at an early stage. That way, you can protect your reputation as well as keep your existing customers.
A useful tool to achieve the above is the previously mentioned NPS. By implementing regular customer analysis and relying on the NPS, will help you stay up to speed with your customer relationships and essential for your business to succeed.
A common mistake when conducting a customer analysis is that many companies fail to clearly identify the purpose and the end goal.
Naturally, the results from the survey rely on preparation and the analysis itself when it comes to managing the material for educated decisions.
What is the situation in your organization as of today? Are you relying on facts to reach conclusions and decisions? Are you aware of what your customers need, or are you fumbling in the dark playing a guessing game?
Let us sit down together and gather relevant facts for you to use in your decision making. It will work as a hedge against incorrect decisions while helping you form long lasting relationships with your customers.
The meaning of a customer strategy
Delivering value to your customers is not limited to customer service. Customer satisfaction is a much broader term, and one for you to grasp to see the full picture, in order to create value for your customers and become a valued business partner. This will contribute to your service being thought of as mutually beneficial and create a solid foundation for long lasting business relationships.
As soon as the customer becomes aware of your business existence, the process starts and it will not end until the delivery has been completed.
By designing a customer strategy which centers the experience of your customer, including follow-ups, you will be able to create an environment where your customer is coming back to purchase your product or service repeatedly.
This highlights why it is so important to conduct a well organized and clearly structured customer analysis. By doing this, it will help your business in understanding the core of your customers’ needs.
Based on these insights, you will be able to design a customer strategy that meets the unique needs of each and every client.
Would you like to know more about how your business can benefit from customer analysis?
Contact us today!
Do you know what your customers think is important?
It is important to know what should be prioritized in order to make customers very satisfied. It is also of the utmost importance to detect early on whether any customers are dissatisfied, so that customers do not disappear and a bad reputation spreads.
Systematic customer surveys with a clear NKI (Satisfied Customer Index) and a strong NPS (Net Promoter Score) make it easy to set goals and prioritize improvement efforts. Constantly keeping full control of and developing the customer relationship is the key to success.