"Fickle" Customers...Are You Ready to Scale and Grow your Company?

Are you looking to scale your business fast? Well, hang on...how you satisfy your most "fickle" of customers may give you insight as to whether you're quite ready.

I was enjoying our usual banter of big thinking and disruptive possibilities with a friend in Starbucks this morning, the conversation turned to what it takes to successfully scale a business.

The consistency of brand is critical to growth. One of the best indicators as to whether you are ready for the world stage is how well you are retaining the most “fickle’ of customers.

 Fick.le.ness

Noun

Changeability, especially as regards to one’s loyalties or affections.

Customer retention otherwise referred as “churn rate”, is a popular modern term. It has been given revival by the tech, platform and online retailing companies that scrutinize every dollar expended as a reflection of ROI.

  When we look at churn we talk about customer attrition analysis, recognizing that in most cases the cost of retaining a customer can be substantially less than acquiring a new one.

 So how can this apply to whether your business is ready to scale?

Have you ever been to a drive through coffee shop and put in your request only to find it didn't quite taste the same as usual, either they put the wrong ingredients in or in the wrong order (sugar in last and not before the pouring coffee could agitate? How did that make you feel?

Now we’re only talking about a 2 buck cup of coffee but never the less that morning cup of coffee ritual has been disrupted and it’s not a good start to the day.

 “Fickle customers that, on a heartbeat, can defect to your competitor.”

I recently changed providers on a service, over slight frustrations with an online booking system. Who would have seen this coming? After all, I had a relationship with this provider, we shared stories of our family, I referred customers, we live in the same community! Surely this would have counted to dilute any future frustration?

 Apparently not…

 “I, like many, live in this UBER world, my pain threshold for inconvenience and inconsistency is lowering by the month.”

With AI (Artificial Intelligence) gaining momentum in all walks of life and having the capability of anticipating my every move, this pain threshold will even further be challenged.

Some of the fastest growing innovative companies pay a lot of attention to consistency with product or service, as the recognize this is a major part of their branding. After all...

 “how can a business expect to successfully replicate their concept on a global platform if the customer experience doesn't live up to what they have come to enjoy – isn't this the market differentiator, the uniqueness? “

Today, with providers such as “Survey Monkey”, is inexcusable not to be encouraging feedback from your customers, learning and acting on it. The term “net promoter score” is used often, not only for the scoring but the valuable comments customers will make. Some of the most successful companies out there will make it a priority to gather together reoccurring themes where customers are having issues and then “fix it”.

 Customers, just like me are creatures of habit. “We know what we know and we like what we like”.

Pareto’s principle may indicate dropping the 20% that give you the 80% of grief. Companies that are growing at an amazing pace that live by the net promoter score are looking at the 20% and spending resources on trying resolve issues with even the most “fickle” of customers. Often these are the only ones that will provide the feedback!

This route of excellence and attention to detail applies whether running a business, nonprofit or any other organization that does not have the luxury of controlling market monopoly (i.e. Government Agency)

Last month I was traveling to Europe on business and had the opportunity to use my “Anytime fitness” membership in a local franchise. My local key fob worked seamlessly in the location that was halfway around the planet and the layout of equipment was reassuringly the same. Simple things but when in a foreign country you're on sensory overload, muscle memory does not kick in as you are out of your regular comfort zone. “Anytime Fitness”, through its attention to brand consistency gave me none of those stresses and as you can see with this post and many other conversations that I have had since then, I have become an evangelist for the gymnasium... for their brand. I do not own stock in the company, know no one other my local gym owner and yet I am celebrating the company?

  Don’t overlook the minor details, these are the very ones that can tip a customer the other way.

  Be attentive to the details and then, just like me, not only will everyone in your organization be “Brand Ambassadors” but even the most “fickle” of customers.

 If you can satisfy the “fickle” customer, you too can go from ‘good to great’ and scale in every direction……the world awaits you!

Guy Breading

“Confidential turnaround and revenue solutions for all organizations”