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Manage Expectations … Manage Profits!
Robert Warlow
Small Business Success
Do you often
have the thought that your business would operate so much better without
customers and all their demands? They want this, that and the other – all of
which interrupts your day! But customer expectations are what drives your
business and keeps them coming back.
Do you know what your customers are expecting of you? If not, how can you
find out? What will understanding their expectations do for your business?
In this article we are going to look at expectations and how it’s important for
you and your business to know what they are.
What Do They Expect?
Not many businesses endeavour to find out what their customers want! Owners
assume they know. Big mistake! If you want to grow your business, find out
what your customers expect of you. How can you do this? Ask them! Why not
have an ‘Expectations Week’. Tell your staff that this week’s goal is to ask
customers what they expect of the business. Set a target of approaching a
certain number of customers a day and just ask, “If I was to ask you what
your top 3 expectations of doing business with us are, what would they be?”
Alternatively you could put out an Expectations Book and ask customers to
write down their comments. This way, they will not be embarrassed and
perhaps may be more frank!
If you operate your business remotely, why not do an e-mail survey? Consider
offering a prize to encourage responses.
Great Expectations
What is your customer likely to come up with as
expectations of doing business with you? Here are some possible answers:
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fast and efficient service
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competitive price
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quality products
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sufficient stock to meet demand
-
trained staff
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being treated politely and with respect
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the phone being promptly answered
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e-mails responded to within a reasonable timescale
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promises being kept
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a clear complaints procedure
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clean and well maintained premises
Depending on your business, the list could go on! But you have the idea. No
doubt you could add many more.
Review and Take Action
Armed with your list of expectations, your next step is to review them and
see which ones you are currently meeting. Remember, you may think you are
meeting a certain expectation but this is an opportunity for a quick reality
check to ensure it’s really happening.
The list you’re left with are the expectations which you are not currently
delivering on. Looking at each of them in turn, ask yourself whether, even
with the best will in the world, you could meet that expectation. You may
have an over exuberant customer who just expects too much! If you
realistically can’t meet it, delete it.
You will then be left with a number of core expectations, which you could
meet with some thought and action. Sit down with a pen and paper and put in
place an Action Plan on what needs to be done to achieve what your customer
expects of you. Get your staff together and all commit to putting the
outcomes into action.
You’ve Listened!
Having gone to the trouble of asking your customers what they expect of you,
don’t forget to provide them with some feedback. If you gathered ideas from
the shop floor, put up a notice thanking everyone for their participation
and listing the expectations you are taking action on. Why not display an
Expectations Charter?
If you had responses via e-mail, reply and again outline what you have done.
You could even list the expectations on your web site.
Having gone to all this trouble of asking, reviewing and taking action, it’s
all too easy to forget what you committed after a few weeks or months. Make
sure that at least once a quarter you re-visit the original list and check
that you are still delivering what your customers expect of you.
What Can You Expect?
If you have followed through on the steps, what’s in it for you? After all,
the customers get what they want; what’s your payback?
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your customers are likely to return more often
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they are more likely to remain loyal customers
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they will spend more
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they will be an ambassador for you and your business
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they will generate referrals
Some pretty
compelling reasons to put an expectations programme in place!
So, review these steps and consider asking your customers what they want of
you. If you can manage their expectations, you manage their experience and
so manage your profits!
© Robert
Warlow
Small Business
Success
www.smallbusinesssuccess.biz
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