‘”It takes months to find a customer… seconds to lose one.” – Vince Lombardi
Knowing your customers is key for any business endeavor. It requires you to have a good understanding of the needs and wants of customers if you want to build a positive relationship with them. In today’s highly competitive business environment, there’s a constant and never-ending struggle that every entrepreneur faces. Knowing your customers gives you a clear picture articulated in your customer experience strategy and your employee’s minds. But not knowing this may lead to consistent failure to give your customers what they want.

In the world of e-commerce and m-commerce, it is imperative to know the pulse of your customers and prevent a shift in patronage. It is very important to build an emotional connection with your customers as it will strengthen a business’s brand. Also, letting customers go is a big deal and to get them takes just as much effort. Trust is where customers are.

Many times, your customers will have a lot to say, but you need to be prompt to record that and act upon. Another important factor is providing real-time service to win back customers. But for this, you should be prompt in responding to customer feedback. Even though this is strenuous, you do not want to ignore this one bit.

If you’re quick to take a collective view on feedback, it can work wonders! Getting feedback from just one or two customers would not help. But if we could collect feedback from a huge audience at the same time? Bingo! Your life becomes so much easier.

Convergence of research offerings is the need of the hour! Convergence is everywhere and is marking the global marketplace. This is important as it helps with multi-disciplinary actions and decisions. Evaluate data in multiple forms and transform to something new.

As it is said, retaining customers is far easier than acquiring new ones. All-time debated, but a proven fact that retaining customers is closely five times cheaper than acquiring new ones. Also with retaining customers, you would understand how reliable, the service of your company is.

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