In this fourth and last in the series on
managing change to the Customer experience, let us examine answers to the
question every business leader need ask, consistently: “How Can We Do Better?”. We presume that, as suggested in the first blog post of
this series, you have sought and found out if your business objectives are
being met and, if not, why not. Business success is cyclical and progressive.
It is achieved when answers to relevant questions are proffered, remedial
action is taken, performance to revised models is tested, impact is measured,
and a new set of questions are raised.

For optimum result, and to cause their
business to thrive, owners, managers and their teams need devise
Strategies and apply Tactics.
A business is like a bus: it leaves one town for
the next one but, because along the way a fallen truck blocks the narrow path,
it must navigate an alternative beaten track. The vision to arrive at the next town
does not change, but the bus gets there by different ‘navigational
strategies’
.

Some Strategies:

o  
Be creative in expanding the scope of your product offerings to capture
a need you discover was not previously met by yours and competitors’.

o  
Add another revenue stream, such as selling related products that
enhance the value of your main money-making product.

o  
In this era of digitalization and the internet of all things, while switching
to a new, more efficient technology to manufacture a product or deliver a
service,humanize
your products and services
as much as possible. Recognize that having a human
element to what you do keeps the customers loyal.

o  
Add another distribution channel for your products, making sure the
cost is justifiable because it leads to increased sale.

Some Tactics:plans or procedures
that support your navigational strategies.

o  
Offer a discount on slow-selling days or seasons.

o  
To reduce production cost, make bulk purchase of supplies when the
supplier’s prices go down. Alternatively, initiate a price reduction, negotiate
a bigger discount by committing to a long-term agreement.

o  
Offer a rebate if a customer buys an additional item.

o  
Offer a warranty – a safe guarantee – as part of purchase price.

There are
other means to achieve the objective of surpassing customer need. Business leaders
must be constant and continuous on a quest to progress from the arena of
providing a basic service which the buyer desires and expects, through the
supply of the unanticipated, which buyers consider to be ‘nice’,
to the creation of a product or service that customers did not even know they
wanted, which elicits a wow in amazement. Where properly coordinated, the
following may achieve this objective.

o   Improve
uponQuality of Service, Product Variety,and
enhanceDistribution Channels.

o   Occupy
the marketplace by Re-Branding, increasingAdvertising and other Promotional Activities.

o   Reduce
Operating Costs and Product Price.

A pre-sold, straight line
encounter is every entrepreneur’s dream, buthaving a good
product is not enough to make money. A sale is transfer of emotion; the decision is
later justified.

Be proficient to transfer emotions of certainty to the customer

which elicits purchase.

At point of sale, imagine
there is a water line demarcating your area of control. Every phrase, document,
and interaction with the customer is a building block to raise their level to
as close to where you are as possible.Every sale can be
the same if you keep within the healthy boundary above the water line, where
you maintain control.

#entrepreneurship 

#EnduringWealth