Every business seeks to – or should seek to – reduce churn. Improving customer loyalty is one of the most effective ways to prevent defection and increase revenue, but that requires forming strong bonds with each and every client.
Customer intimacy is the KPI that measures your company’s ability to learn what matters to the client, so that you can better meet their needs and provide value.
If you haven’t made it a priority to get to know – really know – your customers, remember this: The value of a happy customer goes well beyond the profit you make from their purchase.
Understanding the Principles of Customer Intimacy
You know you want to provide the greatest possible value for your clients but how do you know, specifically, what they value?
Virtually every consumer and business wants a great product with fair pricing and responsive customer service. But, beyond these universal priorities, what else do your prospects value?
Some of the standards include convenience, reliability, customer support, warranties and guarantees, innovation and free educational resources. Once you determine what your clients value, you can focus your policies, processes, management, etc. around those principles.
When your customers recognize how dedicated you are to learning and meeting their needs, you’ll increase loyalty and reduce churn substantially.
Leveraging Customer Intimacy to Improve Efficiency
When you can achieve a profound level of connection with your customers, the benefits extend well beyond the obvious. Yes, you will decrease attrition, but you can also improve the efficacy and ROI of your marketing.
When you get a better idea of what your customers truly value, you can use that information to pursue a more clearly defined prospect profile.
One strategy for improving customer intimacy recommended by the inbound marketing experts at HubSpot is to write and publish case studies about your most satisfied clients – incorporating testimonials whenever possible. When like-minded prospects see the value you provide in this way, they develop a greater depth of understanding and comfort with your company.
Strategies for Improving Customer Intimacy
The right strategies for getting closer to your clients will depend on your industry and business model. However, some of the most effective ways to achieve this goal include:
Visiting your customers – Arrange to visit their office or facility to see how they use your product or service. Explain that the purpose of your visit is to see how you can better meet their needs and exceed their expectations.
Talking to your customers – Make it a point to stay in touch regularly. Ask whether they have questions, concerns or suggestions for improvement. Listen for subtext and take any information they offer to heart.
Showing customer appreciation– Host events (receptions, trainings, conferences, open houses, etc.) that provide value to your clients. Or, if that doesn’t work with your business model, consider what other ways you can demonstrate your gratitude. One great example is the SalesForce “Trailblazers” series of customer success stories.
It’s important to note that today’s popular agile and lean approaches to doing business frequently conflict with customer values and intimacy. But, fortunately, they don’t have to. You can find ways to achieve more with fewer resources while actually improving your connection with the customer.
Adopting a front-facing project management platform like beynd can help you improve your customers’ experience and provide a level of value that will increase intimacy. Contact us today for a first-hand look at our innovative customer management software.