“The first step in exceeding your customer's expectations is to know what those expectations are.” - Roy Hollister Williams, best-selling author and marketing consultant
In these unprecedented times, it is easy to forget the importance marketing plays within your business and that now, more than ever, it is vital that your efforts give you the best return on investment, whether that is your time, effort, resources, or money.
Studies show that customer behaviour has changed due to the uncertainty of COVID-19, leading to a more cautious approach, with customers taking a more pragmatic view on investing in new products and services for the time being. Therefore, they may be more reluctant to invest in your products and services, meaning that new customers are even harder to attract now. It is stated that it costs between 8-10 times more to attract new customers than to sell more to your existing customers, so it might be worth considering how best you can accomplish this.
Communicating with your existing customers shows that you're sensitive to what's going on and can empathise with them. It also allows you to reassure customers that your operations and services won’t be affected in any way, or if they have, then explain the situation and how you are trying to make things as easy as possible.
Your communication should:
- Acknowledge the pandemic and its impact on your customers’ daily lives
- Discuss changes that the pandemic has brought about in your business, if any, and how the changes affect them
- Reassure them of the quality they should expect from doing business with you, and let them know that the pandemic won’t impact this.
- Empathise with them and assure them that you’ll be there for them. People like to know what's going on, and if your customer has a problem or issue with your company, explain to them the steps you will take to solve it. The transparency will be appreciated.
- Always be timely. In today's business world, speed is essential. If your company delays responding to customers, you're missing a huge opportunity to capture valuable insights and feedback. Don't allow your competitors to serve your customer better and faster than you can.
- Always listen to your customers. Listen to customer feedback religiously and make an effort to share those insights across the company to ensure you are continuously building the right products and features.