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IMPROVING YOUR REAL PRODUCT

What is the latest business success buzzword?
Is it E Commerce?
Is it outsourcing?
Is it diversity?
Is it cost cutting measures?
Is it improved employee loyalty?
There are always many new ideas each time a new business year comes around as we all try some different approaches to success.
One thing that is always a given is that we have to try new things to grow and prosper. Well maybe the biggest key to success for some is to understand the real product that your company brings to the market and constantly strive to make it better.It all starts with realizing the true definition of your product. For many we describe our product as a whole series of physical products that we sell and service. Are these really examples of your product? If they are, then you probably won’t have any major impact on product changes in the near future that can truly affect your growth and bottomline. Then how do we improve sales and profitability? How do we improve our real product and sell more in months and years to come?

I would suggest that you define your product from the Customer’s viewpoint. Ask them what your product really is and I think you might get a different and perhaps refreshing view of your real product. You might sell a physical product or service, but you really offer a company providing many things that all become an inherent part of your defined product. Last year your Customers purchased many commodities but they also made conscious decisions not to buy from some companies.
The reason for success or failure lies with the way your Customers view your company as a product.

• Do they like your people?
• Do they like your service?
• Do they like your facility?
• Do they like your honesty?
• Do they like your reputation?
• Do they like the fact that you always deliver more than you promise?

The Certified Service Center evaluation criteria calls for a customer feedback program that helps determine how your customers view your strengths and weaknesses. These surveys, no matter how they are collected, help determine how your customers view your company and what they see as your strengths and weaknesses.
Why did you lose a customer?
Why did you gain a new customer?
These feedback programs help define your company based on your customer's comments and allow you to make the changes necessary to improve your customer's perceived value and in return improve their overall loyalty to your company.
This is a key initiative that will help you with a key constant goal for success each and every year, - Improved Customer Loyalty.

The ongoing goal is to look at your real product and make it stronger and even go past that to expanding your involvement with your Customers. I expect that a lot of your customer loyalty is based on things other than the tangible products you sell. Can you leverage these strengths in other areas and increase your involvement with your customers? If you can strengthen your customer focus you will continue to grow and prosper.