The 5 Things Customers Want (brief)
•order fullfilment •distribution industry trends •efficiency •customer segmentation •market share •customer profitability •customer profitability management •managing customers for profit •account strategy •customer intimacy program •best customers •analyzing orders •customer experience •customer loyaltyWednesday, May 19, 2021—The Five Things Customers Want
If you ask your sales reps what customer want, you'll get a lengthy inventory of needs, whims and wishes, as expressed by customers over the years.
More than a decade working in LIPA (Line-Item Profit Analytics) with hundreds of the world's best distributors has answered this question much more directly.
In reality, there's only five fundamental items that truly influence customer purchasing decisions. Distributors with mastery of these items always lead the market. Moreover, you'll need either parity or superiority in all five to seize and hold a leadership position. If you fail in any of them, competitors that outperform your deficiencies will pass you by.
There are no exceptions: you either have them, or you lose.
The 5 Things Customers Want
Customers are affected and influenced almost exclusively by:
2. on-time delivery
3. no product failures
4. smooth (and short) interactions
5. acceptable price
What's the Take-Away?
Total customer experience determines customer loyalty and market share. You get advantage in your market by executing above your peers on these five items. Superiority on one or more will increase share and profits as long as you're not underperforming on others.
If you're feeling margin pressures, evaporating customer loyalty, or an inability to maintain historic profit levels, you're certainly behind your peers on one or more of these elements.
Gather your team and get to work on these five items and you'll begin your advance to new records in cash-flow, profits and market share.
For more information about Randy MacLean, visit: www.waypointanalytics.net
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