A change in the ways of interacting with your customers arose from a change in the buyer-seller model. This change started in the 1970s and continues to this day. From the year 2000 onward, the model became more complex, due to the rise of the internet, followed by social media and general advancements in technology. So, today we need to consider the customer a primary asset.
So, the business needs to consider the following:
- Customer satisfaction should be more important than developing good products and services
- Existing customers need to be retained
- The customer must have a great brand experience
- There needs to be a better relationship between the customer and the company
Focusing on the individual needs of a particular type of customers requires a specific set of values. Customer loyalty and satisfaction are the most important goals now; products and services are secondary. Companies that prosper are the ones that are able to maximize the value of their...