It is a buyer’s market these days. With a handful of exceptions, consumers know that comparable products and services can be found from a number of different sources. Because customers have gained a great deal of insight into their own power over providers of goods and services, they have begun to expect — and even demand — more than ever before. These newly empowered customers are also proving to be less loyal than ever before. Businesses that fail to deliver what consumers want can quickly discover that customers have abandoned them for the competition. Once, businesses believed that the best they could do was to create a working relationship with their customers. In the ideal world, customers would become so enamored of a company or its products that they would keep coming back and making purchases for the rest of their lives. In the mid-1900s, this type of relationship was possible and was occasionally achieved. During the 1950s and 1960s, there were instances of shoppers who would only purchase a particular brand of laundry detergent, for example, or who did all of their holiday shopping at a particular store. That kind of loyalty is extremely rare today. Most modern customers will be loyal only if they are receiving everything they want. Desires vary, but common “wants” include the best price and the highest quality. A bonus “perk” is being made to feel special or highly valued by the business.
Jane’s Purchase Journey: Useful Technology for Fully Engaging a Customer
6 years ago
