Tag Archives: organization
To survive and prosper in the current economic environment, businesses must strive to satisfy customer needs and expectations. Research has shown that failing to manage and understand customer expectations has accelerated the downfall of many companies. Globalization has led to cut throat competition, and most businesses must satisfy customer expectations if they want to win customer loyalty. Customer expectation management involves identifying and defining the customer expectations and ensuring they are fulfilled without any failure. Fulfilling customer expectations helps in reducing customer attrition, increasing profits and expanding customer base. A business can manage customers expectations by following the steps outlined below.
1. Knowing customers’ expectations: Most companies have adopted strategies that help in ensuring that customers are provided with quality services or goods at a reasonable price. However, most of these strategies are not mapped with customer expectations and interests. It is important to find out what customers want by carrying out a market survey. You can request the customers to fill out a questionnaire online, or when they visit the business on what they expect from you. You can also hire a research firm to carry out a survey on customer expectations. Understanding customer priorities will help a business in creating products that satisfies market needs, increasing profitability.
2. Encouraging complaints: Most customers who are dissatisfied with products or services of a business have no idea where they can lodge a complaint. Organizations can establish a contact centre where customers can relay their problems without fear of retribution. Customers can communicate their complaints to the contact centre through mail, email, and phone. A feedback should be given within the shortest time possible to prevent customers from thinking that their problems were ignored. Analyzing and attending to customer complaints will help in organization in recognizing customer needs and expectations.
3. Defining expectations: Organizations must state and communicate the goals and values of the organization clearly to customers. Customers decide if their expectations were met by comparing what the company promised to deliver against what they got. It is essential for a business to spell out what it can do, or not do to avoid disappointing customers.
4. Knowing competitors’ expectations: To survive in the ever changing businesses environment, organizations must know what competitors promise to the customers. This will prevent the organization from setting promises that will drive customers to other competitors. Also, all the products and services offered should measure up or surpass the industry standards for a business to effectively meet and manage customers’ expectations. A business that does not find out what competitors are offering might fail in surpassing the customers’ expectations.
5. Fulfilling: After understanding the customer needs from the feedback given, a business must take it upon itself to fulfill these expectations. Also, keep the customers informed on the progress you have made towards satisfying their needs through the mass media, internet, conferences, reports and press releases.