When we plan our budgets, we shouldn't think only about capital. Customers are a far more scarce and valuable resource that we need to manage just as closely.

We try to use our monetary budgets wisely. If we miscalculate and need to replace some financial investment that didn't work out as we'd hoped, and we can show we have a smart business plan with a good offer and customers who want it, then we can get more money by borrowing from a bank, or getting the budget increased. But if we use up a customer, then we can never replace her; we may be able to get another one, but we should have had two. And there are only so many customers available for the products and services you and your competitors offer. Once we use them up, we're out of business. Think about it: The only reason you have a business is because you have customers. If you don't have customers you don't have a business, you have a hobby.

Continue reading "Creating Maximum Customer Value " »

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Here's an unlikely suggestion from a customer strategist: Forget customer satisfaction. It's not a differentiator; it's table stakes for any company worth its salt. What's more, it's a lagging indicator, not a leading one. You can't build a forward-thinking strategy based on historical data like customer satisfaction. Instead, companies need to take satisfaction to the next level to create customer advocates. At the end of the day, improving advocacy leads to higher financial returns than improving customer satisfaction.

Continue reading "Stop Satisfying Your Customers" »

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As the saying goes, "there's an app for that." Smartphone customers have an entire world of apps at their fingertips, both free and paid, that are designed to be entertaining, informative, and convenient. Both B2C and B2B companies are clamoring to be a part of this burgeoning interaction channel. But how can a company stand out among the millions of apps out there?

The answer is simple, straightforward, and often overlooked. Create apps that are relevant and valuable to customers that keep them actively engaged. The best way to achieve this goal is to make sure your mobile app is customer-centric.

Continue reading "Customer Strategist Matthew Rhoden:
Is Your Mobile App Customer-Centric?" »

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I recently purchased an iPad 2 and I wanted to set up a data plan for it prior to embarking on a trip. I had no choice but to set up a data plan through Verizon since that was the only option offered by the retailer I purchased the device from. I use AT&T for my mobile service and while I didn't have any initial qualms about signing up for an iPad data plan with Verizon, the byzantine set-up process I endured has shattered my confidence in the company's abilities to meet my needs and provide me with the type of experience I would expect.

Continue reading "Customer Strategist Orkun Oguz: Providing Customers with an Apple-Type Experience" »

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