When I was a kid I remember watching a movie where some actor in Arabian costume always answered the beautiful heroine by saying "Your whim." I couldn't tell you the name of the movie, it was probably some Saturday morning made-for-television movie with a cookie-cutter plot designed to excite young boys with just enough T&A to get the time slot. But the "Your Whim" attitude is what really matters.
In modern business, it's important to know your customer's whims and to fulfill them. This creates customer loyalty.
That means your business needs to implement technology that can learn your customer's preferences and then act intelligently on that information. Your customers will take the time to teach you how they want to be treated if you commit to following through on it. Anything that will make my life less repetitious will earn my business. Ergo, a relationship is created between the consumer and the business -- to mutual benefit.
The business benefits by learning the purchasing patterns and preferences of their repeat customers. You get immediate insight into the recency, frequency and monetary value of every customer which allows you to project future sales with greater accuracy. More importantly, you establish a relationship with customers that they will be less likely to abandon because they won't want to go through all the trouble of teaching someone else how to satisfy their whims.
The consumer benefits because they don't need to repeat themselves. They feel comfortable doing business with you because each transaction becomes easier and easier. By learning their whims, you reduce the resistance between desire and sale, which makes it easier for them to do business with you again.
Incidentally, this is another part of Lou's First Law of Business. Breaking this rule will only lead you to ruin.
Customer loyalty is all about building a mutually beneficial relationship. If you can learn your customer's whims and then satisfy them, you make their lives easier. You also lock in a long term customer because they won't want to go through the trouble of teaching your competitor how to serve them.
Are you serving your customer's every whim? Let us show you how. (305) 423-9574
R-Squared Computing | Lou RG | Nearly Free IT | Firm Wisdom
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