How To Use Customer Experience For Sustainable Business Growth
How To Use Customer Experience For Sustainable Business Growth
Topics
- client or customer led growth
- transactional relationships
- transformational relationships
Video summary
The video discusses the importance of client or customer led growth in sustainable business growth. It emphasizes the difference between transactional and transformational relationships with clients, and how focusing on the latter can lead to repeat business, referrals, and increased customer loyalty. The video also highlights the significance of small gestures that can help build strong relationships with clients. Overall, the video emphasizes the need to go beyond satisfying clients and strive for a greater than expected experience.
Video trancript
yes Charles got out here so sustainable
growth isn't just about having a
scalable marketing and sales strategy
it's also about having a strategy for
client or customer led growth so let's
talk more about this in today's video
[Music]
so if you're committed to being the best
chances are you also think you're
delivering a superior service to your
clients now the thing is most companies
assume that they're doing a great job at
this and given their clients exactly
what they want but in a survey conducted
by Baymen company out of 362 firms
80% believed they delivered a superior
service yet when they asked their
clients only 8% were really delivering
so this gap between 86 and 8% doesn't
happen because companies aren't client
focused it happens because companies are
often too focused on transactional
relationships instead of
transformational relationships now in a
transaction it's a process where you
give me money I provide a service and
I'll make sure that you're satisfied but
there's nothing special in just having a
satisfied buyer anytime somebody does
business with you well they expect to be
satisfied so in a transformational
relationship you're going beyond
satisfied to ensure you give a greater
than expected experience now this type
of transformational relationship is hard
to build and it requires you to go that
extra mile to do things that don't
generate an immediate return however it
does fuel repeat business referrals and
clients who are willing to spend more
money with you you see this type of
transformational relationship more often
in the b2c world like Zappos who's
widely known for going out of their way
to ensure a WoW experience with rushed
shipping and a generous return policy
etc etc but you see this much less in
b2b which means when this happens in a
b2b situation it's even more appreciated
because you seldom experience it and
it's the little things that you can do
that help to build a relationship so for
example if you're an agency instead of
just having a project manager simply do
the reporting of the results just make
sure the project manager is going out of
their way to establish a personal
connection with the person at the
company so if you're a smaller company
you could even have the
reach out once a month to their top
clients to see how they're doing make
sure their experience is awesome and etc
etc see I've got a b2b relationship with
a company where they'll send me little
gifts in the mail a handwritten note and
they'll remember important dates in my
life now that makes me feel like I'm not
just a cog in the wheel but that they
actually care about me they know the
result that I want and they're
constantly striving to hit it and do
better you see with more competitors
that are coming into the marketplace
every single day trying to steal
customers and clients away from you
going from transactional to
transformational working on that
relationship is closing the gap between
what you strive to experience what your
client actually experiences this is an
important strategy for dica monetizing
the buying experience and creating
sustainable growth so take a look at
your business and find the ways that you
can turn satisfied buyers into ecstatic
ones so that's today's tip this is
Charles cadet I'll see you in another
video
[Music]
Dig Deeper
Client-Led Growth: Going Beyond Satisfaction
When it comes to sustainable growth, it is not enough to have a scalable marketing and sales strategy. It is equally important to have a strategy for client or customer-led growth. Many companies assume that they are delivering a superior service to their clients, but the reality is often different.
A survey conducted by Baymen company revealed that out of 362 firms, 80% believed they delivered a superior service. However, when their clients were asked, only 8% agreed. This significant gap between perception and reality exists because companies are often too focused on transactional relationships rather than transformational relationships.
In a transactional relationship, the goal is to satisfy the buyer by providing the expected service in exchange for payment. However, simply satisfying a buyer is not enough, as they already expect it. To achieve client-led growth, companies need to go beyond satisfaction and aim to provide a transformative experience.
Building transformational relationships requires going the extra mile and doing things that may not generate an immediate return. However, these efforts are essential for fueling repeat business, referrals, and clients who are willing to spend more money.
While transformational relationships are more commonly seen in the business-to-consumer (B2C) world, they are less prevalent in business-to-business (B2B) interactions. When a B2B relationship becomes transformational, it is especially appreciated because it goes against expectations.
Building a transformative relationship involves paying attention to the little things. For example, if you are an agency, have your project manager establish a personal connection with clients rather than solely focusing on reporting the results. Regularly reaching out to top clients to check on their experience and ensuring it is exceptional can make a significant difference.
Going beyond transactional interactions and cultivating transformational relationships closes the gap between what companies strive to deliver and what their clients actually experience. This strategy is crucial for monetizing the buying experience and creating sustainable growth in an increasingly competitive marketplace.
Take a look at your business and find ways to turn satisfied buyers into ecstatic ones. It is these ecstatic clients who will become advocates for your brand and help drive long-term growth.
Remember, sustainable growth is not just about scaling marketing and sales. It is about understanding the importance of client-led growth and investing in transformational relationships.
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