It could mean something entirely different for the person you are trying to reach!
In our current world, where the two generations that have passed have seen a significant change in the way they think and behave, I’ve noticed that quality isn’t what it was in the past. There was a time when there was such a sense of pride in the products they branded that they didn’t just provide more than what they claimed to deliver and believed that the after-sales services were the most crucial. In order to ensure that the customer is happy and satisfied was the expectation. The public was conditioned to expect it. Business professionals were aware of the standards, and it set the scene for healthy competition as well as excellent service. What is quality to you? I’m here to inform you that it could be something different to your prospective customers!
But, here’s where the trouble is. While I’m not able to make an unambiguous statement that everyone believes in such a way (there are some who believe in the value of quality), A significant portion allows the bottom line to dictate where the quality end, as well as excuses, get started. In reality, if they rethought their ideas to think differently, the result could be:
More customer loyalty and retention
A natural PR campaign that is driven by your customers, not by your business
The ending of the need to compete with regards to price
In the end, it’s a more profitable business! Let’s look over these.
More loyal customers and better retention
The profit margin of a sale isn’t just based on the amount earned from the day of the sale but is determined by the duration of a client. For instance, if you keep a customer for over three years, how much will they be spending on sales and product launches?
If you’re in a service-oriented company, this will keep the pipeline full. If you’re involved in durable goods, by knowing the lifespan that your item has, you’ll know when to return to these customers who are happy for sales in the future. In the words of an old saying: it’s cheaper to keep an existing customer who is satisfied than to search for another. If you lose a customer, there’s more than just the commissions and advertising you’ll have to pay for another one, but you must also gain two new customers in order to demonstrate any improvement!
Organic PR Campaign Organic PR Campaign
There are businesses that invest thousands of dollars in developing positive PR. While PR is essential (it’s more crucial than advertising), it is impossible to kill an effective PR campaign more than low-quality. If you have a customer who is happy, the person will recommend ten people to you; however, if you have an unhappy client, they’ll share the news with 100. With social media, it could be as high as 1,000!
The happy customers share their experiences with others who are like-minded and publish them on sites like Yelp. They’ll speak more positively about your company’s quality than any paid advertising spokesperson ever be able to do. This boosts retention and builds loyalty, which leads to referrals and repeated sales and referrals – all without spending advertising money! Would you instead invest your money in MORE advertising (which could be either a hit or miss), or do you prefer to switch that money into an investment that is more profitable and improves the retention and loyalty of your customers?
The end of competition over Price
The end result is the ideal situation that you can be in. You no longer need to compete on price because people realize that quality comes with a price and are willing to pay for it, and you can charge what your product is really worth, not just whatever the lowest price bidder wants you to pay.
They know that quality will reduce costs as well as headaches and downtime in the long run and would instead buy a product that is of the highest quality (not in addition to the prestige as a brand that claims to be the top quality) rather than buying cheaper products now. Be aware that if you require to sell to make sales, it isn’t competing on quality or worth. In addition, when you make an offer, you’ve created your own fake average cost. Why? People are taught that if you are able to sell it at that low, then it should not cost much. Therefore, I’ll hold off until the sale to obtain the accurate price and worth. This is a perilous slope!
So what is Quality?
The quality of the product isn’t just about the product. It’s a complete experience. Apple has made millions from selling the experience of the product. The quality is evident in your advertising, the website, packaging and customer service, warranty and more. Thinking that a single flaw will not impact the other weak points is foolish and expensive.
Consider asking yourself, “If I were to bring all my customers together in a room and allow them to speak to each other about my service and product Would I need to be concerned about what they might be saying?” If yes, then you’ll have to improve the quality of your service. They are together – it’s known as social media.
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