Every organization occupies a position in the mind of its customers. The most successful ones create their position intentionally and continuously refine it based on input from their clients and the market place. Your firm’s position, and its brand by association, must be proactively managed in the same manner as a marketing manager would constantly be enhancing, modifying and refining their products or services. Maximizing your market position also requires identifying your target clients and finding the best way to attract and remain connected with them to ensure they reward your efforts with their loyalty.
Three of the following four categories will enable you to potentially build a successful business; the fourth is a recipe for failure.
Nordstrom’s and Ritz Carlton are doing very well, thank you. They have defined the experience and quality their clients expect and they deliver without exception. If you are in this category, provide an exclusive or elite experience that appeals to those who have money and are motivated by ego and status. Don’t apologize for who you are -someone needs to be in that niche, why not you?
Value – Add
Strive to ensure that each encounter, conversation or purchase is positive for the client. Create a value-driven culture that does more than just provide good service, instill one that makes for memorable experiences. Provide employee training to ensure a culture is created where value is delivered in a consistent and predictable manner during each client interaction. Remember, value is in the eye of the receiver, so it’s your responsibility to discover what inspires your clients from the moment they connect on your website; talk to customer service or walk through your doors.
Give your customers what they expect and will pay for and nothing more. There’s a huge market for low price, inexpensive products and no frills service. “Value” has a different meaning for low price customers. Discover what they want and deliver it in a way that satisfies them.
Not a good place to be. Figure out what you should be and make a dramatic shift if necessary or get out before you’re forced out.
Quality in a service or product is not what you put into it. It is what the client or customer gets out of it. Peter Drucker