There is a store in town that has succeeded in driving away many of its customers. Rather than getting to know its customers, it would make assumptions about their ability to purchase. The thing is, these customers made significant purchases from other stores. And at times when customers made significant purchases from this store, a portion of their purchase would be stripped away to give to another customer. Over time, customers shared their stories and stopped shopping there.
It’s a pretty extreme case. But there are lessons for everyone:
- Don’t assume to know what your customers want or what they can afford. Ask them
- Let your customers know your offerings that are in line with what they want or need
- If you need to allocate/ration, make sure your customers know that before they purchase. Don’t transact if you aren’t willing to fulfill your sale
- Customers talk to each other. Make sure what they share is good
Have you taken time recently to assess how well you know what your customers want and their experience? If not, it is time to take a look!