In reality, there’s only five fundamental items that truly influence customer purchasing decisions. Distributors with mastery of these items always lead the market. Moreover, you’ll need either parity or superiority in all five to seize and hold a leadership position. If you fail in any of them, competitors that outperform your deficiencies will pass you by. There are no exceptions – you either have them, or you lose. Customers are affected and influenced almost exclusively by:
- On-Time Delivery
- No Product Failures
- Smooth (And Short) Interactions
- Acceptable Price.
Total customer experience determines customer loyalty and market share. You get advantage in your market by executing above your peers on these five items. Superiority on one or more will increase share and profits – as long as you’re not underperforming on others. If you’re feeling “margin pressures,” “evaporating customer loyalty,” or an inability to maintain historic profit levels, you’re certainly behind your peers on one or more of these elements. Gather your team and get to work on these five items and you’ll begin your advance to new records in cash-flow, profits and market share.
This article—available in full at MDM.com— is adapted from a section in Profit-Driven Analysis & Practices: The CEO’s Guide to Record Profits by Randy MacLean. The book explains the field of LIPA (Line-Item Profit Analytics), and how you can use its unique metrics and strategies to out-perform everyone else in cash-flow, profits, and market share.
Read the entire article here: https://www.mdm.com/blog/sales-marketing/the-5-things-customers-want-and-how-to-deliver-them/