Customer is the centre of any business – big or small – grocery store or a conglomerate. Business exist because customers want to transact with them. A business thrives because of its customers. While “Customer is king” may be considered as an old school of thought, the fact is, a Customer is considered as the king because the customer is the one who is generating income for the business. However, the point one must consider is are all the customers, a king for your business?! Because it shouldn’t be that the customer takes the business for granted.
A good way to gauge it could also be using Pareto’s law or the 80 : 20 principle wisely. Keeping 80% of the customers happy is good but that does not mean the remaining 20% customers should be left unhappy.
For a business to run successfully from a customer perspective, you need to think about :-
- How do you want to treat your customers?
- What sort of customer experience do you wish to provide?
- How can your customers contribute towards the financial performance of your business?
You need to keep a strong tab on your business and know how customers are treated by your team. Do you know what happens in business in your absence? Let me share my experience here.
I went shopping to a beautiful family run store. The shop is managed mostly by the staff & is located within the same compound of their house. I picked some lovely stuff and while I settled my bill I happened to notice that I was slightly over charged as against the billed amount. Surprised, I queried. The reply I got was, the extra amount charged was towards charity.
However, the point one must consider is are all the customers, a king for your business?! Because it shouldn’t be that the customer takes the business for granted
Firstly, I was charged without my consent. Next I was not informed till I asked. And lastly I do not know if the amount collected from me would indeed reach the needy. There were no sign boards nor any details that were displayed nor the cause for the charity.
How is it in your business? What is happening without your knowledge? You may want to keep a check on the following:-
- How do you know your staff is charging your customers right?
- What are the financial controls / software controls in place to prevent fraud?
- What sort of customer experience is being provided?
- What is the business culture environment that is set?
- How is your staff contributing to building your business brand?
You must ensure that your business runs as efficiently, in your absence as well.
What sort of processes do you have in place to ensure that your business can prevent revenue leakages, frauds etc. as they directly impact the bottom line?
You need to keep a strong tab on your business and know how customers are treated by your team.
Customer and the sales function of your business go hand in hand. Selling is a function that comes naturally to a few people and there are many others who detest selling. The sales function is what brings the money for your business through the customer and hence it is said that if a person can manage to bring in the revenue for the business and keep it going, the person is suitable to build & grow a business.