Many business owners like to follow in the footsteps of Steve Jobs when it comes to their product or service saying “people don’t know what they want until you give it to them.” On the contrary, people do know exactly what they want and many times a business can capitalize on what a customer tells them they think would be a great idea.
This is one of the reasons so many companies provide surveys for their customers to fill out. It goes against your customer and may be counter-productive to assume you know exactly what the customer will want before they do. One example of this is how Apple inc allows anyone to create apps and put them on their app store. There are over 500 million apps created by users to this day. That is an impressive number!
In one survey concerning large corporate business’s, it was found that user lead innovation was responsible for up to $146 million dollars in revenue while internally lead innovation was responsible for only $18 million dollars. What this showed the surveyors is that the public does in fact know what it wants and if you can find a way to help them feel listened to and provide you with fresh ideas, then you may very well be tapping into a market that can increase your companies innovation and revenue.
How is your company utilizing the creative minds of the general public? One thing people absolutely love is personalization and they are willing to pay for it. It was found that some waiters and business were able to increase their revenue by up to twenty three percent because a customer/customers were able to customize what they wanted and how it was delivered. How are you working with your customers to give them the personalized experience that they are craving?
One way to personalize your customer experience is to “follow-up” with whatever service you are providing them. It was amazing and surprised me to find out that a waiter was able to increase his tips by 21% by simply adding mints to the meal to show his customers that he was thinking of them. In Big business it can be the same way. What customers do you have that it would be appropriate to follow up with or ask what they thought of your service? It doesn’t have to be a mint, but letting them know you value their input and that you’re thinking of them can go a long way.
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