You may be doing a great job with social media for your company — creating great content, having conversations and really engaging with your customers. But, if your customer service doesn’t align with the expectations set by your social media interactions, your success will only be short term. Eventually customers will experience your customer service and if it doesn’t align with expectations built by social media, all your hard work will be for naught.
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Pricing Based on Customer Expectations
Pricing, when done properly, is one of the most difficult tasks any business faces. Yet it is usually only given a perfunctory once-over. Customers have a range in mind that they’re willing to pay, but if you ask them, cheaper is always better. Ask a customer what they paid for something after the fact, and they’ll probably have a hard time remembering exactly. Price something too low, and people wonder about the quality. Price too high, and you’re out of budget. How can you meet your customer’s expectations without directly asking them?
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Consumer Preferences Can Put You Out of Business
I’ve been in Germany this week studying the European business environment at the WHU. In studying Germany in particular, we discussed an interesting insight. While cultural differences in other parts of the world are expected, fundamental differences in how consumers consume is sometimes overlooked. Beyond just consumer preferences, the way people purchase products here is very different than in the US or other parts of Europe.
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