Killing your customers? Yes, if you ignore customer satisfaction!
I recently watched a video by Geoff Burch, 'Six ways to kill your customers off'. A
catchy title and a catchy subject matter - I was in intrigued as to
what the content would hold.
In this video Geoff discusses the six most common customer
strategy mistakes that businesses can make. He makes some
interesting and valid points. The main feature that jumped out to
me related to customer satisfaction.
Burch says "If you want to grow your business it's not your
existing customers that you have to satisfy but other people's
customers". With this statement he has hit the nail right on the
head, recognising how vital it really is for organisations to focus
directly on their customers' needs and opinions. A new league of
customer focused organisations is being primed for market
domination, recognising that they have to look at the bigger
picture and empower the voice of the customer. Gone are the
days when you could concentrate on your customers' feedback once a
year. Now a continuous approach to gaining competitive advantage
Burch goes on to say "So really, it's not my satisfied customers
that I'm interested in it's my dissatisfied customers and the
people who have actually chosen not to do business with me" .
To create a competitive advantage in any market you need to ask
yourself: Why have my customers chosen not to do business with me?
Only then will you be able to utilise customer feedback to your
advantage, as this approach will help you make informed decisions
for the future which not only attract your competitors' customers
but enhance your own customer retention and acquisition in the long
In summary, any company that is taking customer feedback
initiatives seriously should consider these points, as they
emphasise the importance of effective competitor benchmarking and