"When you are skinning your customers, you should leave
some skin on to grow so that you can skin them again."
- Nikita Khrushchev
This was quoted by the Observer (London) when Khrushchev
addressed British businessmen. Well, it may sound a bit harsh
specially for those who are racist but in a positive sense, it's
actually true. Look, we want to keep customers for life; but,
how could they keep coming back to us if we drain them?
Hence, we got to take care of our customers... sincerely. Let
them feel valued while continuously improving on our products.
Redesign, reshape and re-engineer product offerings, services,
and messages to individual customers. Design market offerings,
services, and prices that have more emphasis on customer
retention to rebuild a longer customer lifetime value.
Reduce the rate of customer defection by hiring only
knowledgeable and well-trained employees, if not those with
high learning ability and enthusiasm. Deliver total customer
satisfaction through better and faster services than
competition.
Enhance customer bonding by way of (a) frequency and
rewards program to customers who buy more often and in
substantial amounts and (b) individualizing and personalizing
customer relationships, turning customers into clients.
Build profitable customers through "share of wallet", cross
selling and up-selling... then you could capture a substantial
share of your customer's expense budget.
"If you love your customer to death, you can't go wrong."
- Graham Day
Provide special treatment to your most valued customers.
Treat them like they are the only customers alive on earth,
send them personalized birthday or wedding anniversary
greetings, small gift tokens, or invitations to special events,
concerts or shows.
Yet realize that looking after your customers is more than
satisfying them or filling their hearts -- it's helping them grow
their business. That is what "skinning and leaving some skin"
is all about!
Take a bank for example. Safekeeping is not the only reason
why people deposit their money but interests and other
financial services. See, they help each other. A bank grows
from its client's money and at the same time, so does the client
from the bank's expertise.
More so, at a different setting, once you have successfully built
that win-win relationship, it would be more easier and natural
to seek your customer's help and support in the design of new
products or in improving total customer service.
Lastly, again, customer satisfaction is for all your customers
but customer loyalty is for your most profitable and valuable
customers; so learn to identify and build on them.
Take note...
"Markets are not created by God, nature, or by economic
forces, but by businessmen." - Peter Drucker
