Four steps to optimize your customer relationship life cycle

Just a bit less than 3 decades ago, the way we do business has evolved. In the past, commercial activity was based on positioning of products or services as a “net” to “go fishing" to the market subsegment to which those where targeted, hoping for a great catch. This model doomed products and services to become commodities, losing unavoidably an important component for ensuring a stable market share:  The added value generated by the brands positioning them.

As time goes on, technology along with exponential growth in available options in the market, companies have had to reinvent themselves to meet new, tangible and intangible requirements of the market to differentiate themselves from their competitors, by generating value on top of their basic offering. This has radically shifted the attention, from focusing on product or service features and benefits, to gaining a more accurate understanding about customer needs, desires, and interests: We have moved from offering products and services to   developing a value proposition.

From the customer's first contact with your brand, the information you share with them, their consideration and selection process; all the way to their feedback that confirms their unconditional loyalty and support, or their discomfort from a bad experience; it is essential, today more than ever, managing effectively your customers’ experience  at every stage of this process.

This is a cycle that represents the continuous improvement process around the step-by-step construction of a lasting and mutually beneficial relationship between your brand and your market, since the obtained feedback allows you to increase the perceived value of the proposition. To be successful in managing Customer Experience throughout the lifecycle of your relationship with your brand, here are some practices that will have a very positive impact on all your strategic performance indicators:

Go beyond "being present"

While being present where your market is increases your chances of being discovered by your potential customers, presence per se generates no added value to the customer. Your presence must be accompanied by elements that contribute in some way to your customers in a positive way and are therefore, they could feel attracted to your brand. Remember that before showing your value proposition, your brand must earn market trust and empathy. Relevant information, trends, or a way to experience a taste of your brand's ideology, is an ideal combination for your client to go from "just browsing" to having a genuine interest in what you can propose.

Always keep a reading of the where you are in your customers' minds

It is not the same a customer buying by habit, one that does it out of curiosity, to another that buys because of the value she receives when interacting with your brand. "Familiar" contact with your customers is essential to understand how they move forward through the life cycle of the relationship with your brand. Keep in mind that the relationship lifecycle is a constant "courtship" and you seek to win over your customers, so it is important to know whether your approach at every stage is appropriate and builds on the relationship. You can achieve this through "selfless" interaction with your market. Indeed, by carrying out occasional calculated efforts in an alternate context to that of your product or service, something involving  other areas of your customers' lives, will allow you to generate in advance the trust they will need to choose your brand and commit to it. Show your customers that you are interested in building a relationship, rather than just positioning your products or services.

"Yes, I do, in good times and bad times"

The customer selected your brand, CONGRATULATIONS!!!! your prospect is now a consumer and therefore you have just taken the relationship to the next level. This is where you can show your customer all the added value, they get by sticking to your brand. You will achieve this by tracking the customer's reaction when experiencing your product or service, listening to their feedback, and making it clear how you paid attention to what they say to improve their experience. At this stage both parties are generating mutual value, as customer feedback will shift your focus on what the market is perceiving as added value or failing this, as an area of improvement. Interaction is the name of the game. Having "conversations" with your market generates an accompaniment and co-responsibility in the experience that leads to a long-term commitment, bringing along recurring and higher value purchases, as well as the positioning consolidation of your brand.

Treat them as if they wanted to leave

"Plan for the worst, hope for the best and get ready for some surprises."

- Denis Waitley

This philosophy applies perfectly when you have a captive market in the relationship cycle phase where they can take the leap from loyalty to unconditional recommendation by becoming ambassadors of your brand. It is at this stage when a "setback" can turn your promoter into a fearsome detractor. Therefore, it is healthy to have a series of tactical actions that guarantee a positive emotional result for your customers in their journey across the phases of the relationship life cycle. A smart mix of loyalty and retention strategy can ensure that both buyback and recommendation are constantly achieved; placing the attention to customer needs in terms of the relationship with your brand as a pillar of this strategy, gives excellent results. Feed your customer's need for belonging and recognition, and you'll have one more "sales rep" in your staff out in the field, growing your market and multiplying your potential sales.

In conclusion, effectively managing the customer relationship life cycle make your business evolve, fueling your creative thinking by seeking innovation to generate more value to the market, thus ensuring the permanence of your brand. The relationship with your client is one of the most important assets of your company, towards getting great results in each strategic objective. What better closure of this cycle with a nice "... and they lived happily ever after…"

#success #coaching #leadership #cxstrategy #salescoaching #businesscoaching

About the Author

Francisco, founder of Hi-Performance Coaching, is a Business Strategy Coach passionate about walking along with companies and their people, the path to success by helping them setting goals, leading them to reach their full potential, to achieve extraordinary results.