How Long will your Customers Do Business with you?
During this week I heard this question from 5 different people,
“How long will my customers do business with me?”
I could come up with one answer for all them,
“How long your customer’s customer does business with them is directly proportional to how long will they do business with you”.
In fact, if I stretch this a little further, this is not only true about the longevity of the business but also about what behavior my customer is going to exhibit during the buying cycle, after purchase from me and at every critical points of engagements.
As humans we simply reflect each other and also our ecosystem. The questions to follow after the first one is,
“What can I do to increase the longevity of my relationship with my customers?”
And the answer is,
“Well, add continuous value to your customer's ecosystem (i.e. to the Customer’s customer), thereby they stay longer with your customer and do more business with them.”
In order to positively influence customer’s ecosystem one must always maintain focus on customer’s business and how your products and services add value towards their business key metrics.
It is intriguing to see how a tiny aspect as this one can create greater impact to the business. An exploitation of any nature doesn't last long in business.