By Jeff Bowman
You spend a great deal of time and effort analyzing the marketplace, your competition, customer base, your product fit and resource allocation in building a sales strategy – the most important cog in your company’s revenue machine. This strategy allows you to maintain, to a degree, customer relationships, sales conversions and the cycle of sales against your competitors.
Why risk having it go to waste by not regularly talking to your customers?
We know that the cost of selling additional products to an established client is far less than the cost of finding a new client. Taken a step further, it is easier to introduce a new line of products or services to an established client when a strong business relationship exists.
Understanding and responding to your customers’ needs provides an opportunity to increase sales, build better relationships, better service your customers and reduce costs of sales.
Consider that these savings can be used to establish new territories, market new lines or explore new revenue streams.
Being able to integrate customer feedback, both positive and negative, into a focused sales strategy increases the overall value proposition to the client.
Every business relationship is muti-faceted. There is no one size fits all. That is why belts have multiple holes for the buckle, which creates a specific comfort level, while at the same time performing the function of holding up your pants. Your customers are the same. They have a certain degree of comfort in dealing with you, however they have varying needs around quality, service, product selection and availability, pricing etc.
Some customers are vocal about their pleasure or displeasure, while others remain quietly satisfied or dissatisfied. Customer surveys allow you to make decisions based on many customer views, rather than just one or more vocal ones.
Satisfaction surveys are clearly an investment in future growth and sustainability. They are a snapshot in time and offer a more concise view of how our clients perceive us at any point in time. Reacting to what may become trends of dissatisfaction through changes to the sales strategy; will in the end result in proactive initiatives towards more complete customer satisfaction.
As the economy tightens, the competition for your company’s sales revenue will increase and you may see a slight reduction in profit margins. Integrating client surveys into your sales approach shows your clients that you have a genuine interest in their business and in solidifying the ongoing relationship.