Customer RelationshipThe relationship between the business owner and the customer dates back to times immemorial – from the days of barter business, when currency had not come into existence. There would be an established trust and belief between the buyer and the seller and their relationship was bonded with this trust. And, for this bond to be established each one would have to know something about the other.

The question that now arises is – Why should you know about your customer? He pays you money and you part with the goods – and there ends the matter. Well, things are not that simple as they used to be in those days and now your transactions are no longer a single-shot transaction. You keep getting repeat customers and repeat business and so the more you get to know about your customers, the more effective would be your sales and marketing, and consequentially your profits. So, it is time that you know your customers and know about them. Your basic information about your customers should cover the following aspects:

Who are they?
What is their background?
What do they buy?
Why do they buy?
What is the quantum of their requirement?

You can obtain answers to all these questions by indulging in casual talk with the people in the business and employees who work for them. Even casual talk can reveal a lot of things such as their projected purchases and if they are likely to increase their quantum of purchase. You can even figure out the amount of business they are doing with your competitors. If you could keep an eye on the customer you can even anticipate future developments. Based on the information provided you can go ahead and do your own market research and figure out a number of things. By keeping a finger on the pulse of their business you can know the current trends and anticipate your customer’s requirements.

In the earlier days, shoppers would normally rely or trust one person at the store they normally visit and take that person’s advice or suggestions in case they ran into any problems, and that person would help them out. But, today’s scenario is totally different – the shopping assistants or the floor staff are a harried lot. They are short-staffed, poorly informed, discourteous, and most of them are unable to handle the pressure. That leaves the customers – both online and offline – helpless and on their own.

Understanding your customer is very vital to your business as it will help you know and understand their problems and experiences connected with the use of your product. You could use the opportunity to resolve any customer-related issues. Knowing your customer end-user profile will offer you an insight so that you can market, sell, support, and service your product better.

Most of the business owners work on assumption or surmise, especially when they have to make decisions related to their business, product, or customer. Do not commit the mistake of guessing your customer’s needs – call them up and find out, he or she is just a call away. You need to know your end-users to fully identify and explore opportunities to increase your revenue and your profits.

If you are involved with sales or involved with any customer-oriented business, it is imperative that you should get to know your customers. Until and unless you understand your customers, their needs, and requirements you will not be in a position to know your customers. When you have all the necessary information about your customer, you can do the necessary adjustments and changes to your business and customise to their needs. And, if you keep your customers happy you can be sure of repeat business. There would be no doubt that repeat business will keep you happy too!

Entrepreneurial Learning

The relationship between the business owner and the customer dates back to times immemorial – from the days of barter business, when money had not come into existence. There would be an established trust and belief between the buyer and the seller and their relationship was bonded with this trust. And, for this bond to be established each one would have to know something about the other.

Image courtesy: FreeDigitalPhotos.net

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