Your Customers are Changing – Are You?

The status quo doesn’t cut it anymore. More than ever the definition of insanity rings true: doing the same thing every day and expecting different results.

To stay a viable option in the market place we must reevaluate, reassess, and revamp our offerings to meet the changing needs of our customers.

As I reread through past issues of Entrepreneur articles I found a similar theme.

In May, 2009, Age Against the Machine, we learn that the Baby boomer has changed traditional advertiser focus from the 18-49 year old to include the over 50 set.  At the end of the article, author Matt Thornhill cautions:

Ignoring (Baby Boomers) and they WILL take their money elsewhere.

Have you reassessed your target audience?  Are they aging? Have their needs changed?  Have you changed to meet those needs?

In that same issue there is an article by Chris Penttila, Evolve: 7 Ways to Transform Your Business Model.  #2 suggests a need to Reassess Your Customer’s Value.

Not only do we need to evaluate WHO we serve and WHAT they need but also what they VALUE.

Just as the Boomer has switched from a desire to gather a collection of material things to a need for experiential options – so must our offerings to our customer.  Chris offers a list of Dos and Don’ts and at the top of the Do list is:

Talk to your customer about what they need today.

Have you asked your customer how you can better serve their needs? Do you have an effective method for communication with (not at) your customer?

In July, the sales article by Neale Martin focused on change; both with customer habits and our own. He says “pay attention to customer feedback.” 

If we listen.  We will learn. But we have to be open to what they have to say.

One way we can listen is through Social Media. Omgili buzz page is place people share and learn information.  Want advice about shopping for shoes – people share their thoughts.  Listen in and see what they are saying about your industry.

Make sure you sign up for Google alerts – not just for your company name but for key industry words.  Listen to what people are saying.  Used LinkedIn or Facebook to ask questions that might help transform your business offerings to match the changing needs of your customer.  Take advantage of Survey Monkey to ask questions of your customers.

Bottom line – we have to continually hold the mirror up to our business and see if it matches our customer’s changing needs.  And then DO SOMETHING about it. 

What have you changed recently in your business because your customers demanded it of you?