In the age of technology, it seems we have more communication with customers than ever.  Businesses e-mail, call, log in to their purchasing systems, have live web conferences, communicate through Linked In, comment on websites, and connect in ways that we have not ever imagined before.  Even with all of these layers of communication, do you really know what our customers think about your business?  Do you have an accurate sense of why do they do business with you?

I believe that getting a real understanding of what customers think about your business is critical.  I sincerely think that all business are well intentioned and believe that they understand why their customers do business with them and yet it seems like a guess when posed with the question.  There are standard feedback loops through sales people, staff who delivers the products or services, the accounts receivable department, and other ways that your company interacts with another.  However, do you really know what they think of your business and more importantly, why do they choose your services/products over your competitors?

You can use traditional methods of trying to access their true feedback by using surveys online, questions at the end of a service call, but I think all of us would admit that these methods are not a complete picture.  In addition, some of the responses you get may be sincere but they may not be the decision makers that you really want the true opinion of.  So how do you get this elusive feedback?

What I propose is a challenging idea, but very attainable.  The concept is a fundamental of business and one that is possible regardless of the size of your business.  I propose something radical……ask them!  As a business owner, you have the position to respectfully ask for a meeting to discuss your relationship and how you can improve your current mutual benefit.  When is the last time you as a business owner met with your top ten customers decision makers to not only discuss what is going well but what you can improve upon?  I realize that this comes with some risk of what they may say but do you really want to know what their impressions of your business are?  It is much easier to avert challenges that are known verses reacting to them.

With the risk in mind, there is huge upside with opportunity to solidify a relationship and open up opportunities for an even more beneficial arrangement for both parties.  From my point of view, the potential benefits outweigh the risks and the worst case scenario is that you find out some valuable information that include plans they may have in the future.  If your competitors are close to becoming the customers main supplier these conversations may uncover some behind the scenes variables that you may not be aware of and help you correct them.

In conclusion, I believe you have a unique opportunity to enhance your business relationships and work towards a more enhanced business arrangement.  Your revenue will increase, your relationships will improve, and you will have a more stable revenue steam as a result of your actions.  Commit to talking to your customers today and it will pay dividends into your future.

In Fundamentals We Trust,

Larry