How Are You Attracting Now Customers Who Will Remain Loyal During a Crisis? Here Are the Three Fundamental Secrets!
During one of our previous articles, we established, in broad terms, which businesses and fields will win during a crisis. I have also shown what the next crisis will be like. I strongly believe that things will settle after a period of total chaos. The history of the crises show us that in order to survive, people need to eat and thought leaders must provide them food. Customers have to take care of themselves, while companies must develop their customer relationships through customer service, build customer trust for as many customer segments as possible. Each customer will have to keep buying products and investing in services and business leaders will have to present their validation purposes and improve customer experiences. Why a customer shouldn’t buy from you, correct? How will this reality influence your business before and during the next crisis? Let`s see…
We discussed the crisis that occurred, which created an inflation rate of 1 billion percent. And you saw that there are solutions to thrive, even during hard times, but not without a business strategy oriented to customer success and customer loyalty! I demonstrated that 60%-65% of businesses might fail, which provides a fantastic opportunity for you to be among the 35-40% of companies who will win. Then you can take care of the customers from those companies who fail and increase your market share. It`s pure logic! But for this plan to work, you must somehow get into the minds of these customers now—before the crisis—and stay there and this can be done only based on customer feedback. This concept applies to both potential customers and current clients. But how can you get into the minds of these customers now—before the crisis—and stay there? NOW here are the Three Secrets that will attract new customers and create shortcuts that lead straight to the hearts of your existing customers, where you can increase customer loyalty. But you must start at the present reality, as you need to create gain loyal customers here and now in order to achieve customer success in a crisis. A lot of U S companies have understood that the customer is the heart of any business and have created from their launch a pleasant customer experience for them in order to get their email address, trough which it would be easier for them to build customer loyalty for different customer segments.
You do not need to hire an expensive consultant or have a degree in economics, in order to understand this concept: When people have less money, they spend less. You yourself will soon begin to make price adjustments. You will make them wisely, as we will discuss in a later article. At that time, I will provide you with the correct matrix for making cuts. So what do you think your customers will do? Exactly! They will make severe cost cuts. They will reorient and cut costs at their companies, possibly giving up the products or services you deliver!
It sounds scary, doesn’t it? It`s only scary for people and businesses that cannot see the hidden opportunity we`re going to discuss now. If we can succeed at transforming this threat into a super-opportunity, we will thrive during the next crisis. And what would happen if you were to put this opportunity into practice before and DURING the crisis? You would be among the 35-40% who would gain the customer loyalty of those companies who would fail! That`s for sure. So, let`s see…
The First Secret
Have you ever wondered how can you convince customers to buy from YOU, to beg YOU to take their money before and during the next crisis? This is the First Secret that I will share. Are you ready? Here it is: regardless of whether or not you prepare for a crisis, you should do anything BUT sell. You should market, but NOT sell (as some understand it). Let me explain—because it is a practice that is vital for you to know and apply as soon as possible, when preparing for a crisis. Here’s a Marketing Strategy :
- I find out exactly what my customers need (by asking appropriate questions).
- I specifically tailor the product or service to their needs (including email address achievement process and customer experience).
- I sell it.
A Selling Strategy is the exact opposite:
- I make a product that I suspect the market will want.
- I push it onto the market via a sales team (0 customer experience tailoring).
- I expect that this push will convince clients about why they need the product.
Which strategy do you think sells more with fewer costs? (You know that fewer costs are crucial in a crisis.) So which strategy do you think sells more with fewer costs? Correct: the one driven by the real needs of the customers—not by your suspicions, personal needs, or personal competence of the business owner or products you like—as so many are inclined to believe. That is how you will also achieve loyal customers.
This First Secret will save your business during the next crisis. But there’s a condition (which the same one that’s been true throughout the course): start applying it NOW! Let me further explain how to apply it in the Second Secret…
The Second Secret
The Second Secret of preparing to sell more during a crisis is derived from an analysis of pure reality. After speaking at a conference, a young guy approached me and started describing his new business idea. He was very enthusiastic! I listened to him for a few minutes, and his ideas were remarkable. Then I said: “Tell me, why do you intend to start that kind of business?” He stared at me and replied, as if answering an idiot: “Because I need to make money, why else?” In normal times, this reason to start a business leads to mediocre and under-mediocre business. Before a crisis, this tactic leads to BANKRUPTCY. In many cases, the motivation for starting a business is fueled by factors outside the business: “C’mon, honey, let’s start a business. We can’t go on like this. My friend has a business, and he does very well for himself. Don’t you want a SUV and a trip to the Caribbean? We need money, so let`s start our business, and collect money from customers!”
Let’s admit it: subconsciously or consciously, many of us use this train of thought. For some time, I thought the same way. However, I realized that this road leads to disaster more times that it leads to success.
In the first two years, such thinking destroys 85 out of every 100 businesses. And in the following two to three years, it destroys 13 of the remaining 15 percent. These are clear statistics! Only two firms/companies/businesses out of 100 are successful after five years. The rest waste their owner’s money, rather than bringing money in and creating prosperity. They go bankrupt. Why? Henry Ford, the famous American car manufacturer (1863-1947), provided an answer: “A business that makes nothing but money is a poor business. A business absolutely devoted to service will have only one worry about profits: they will be embarrassingly large.”
Ford achieved phenomenal success, but also weathered many financial, productive, and ideological CRISES. So he had wisdom rooted in both joy and failure: “Being greedy for money is the surest way not to get it, but when one serves for the sake of service—for the satisfaction of doing that which one believes to be right—then money abundantly takes care of itself.”
This is the key to success, and we will develop it NOW. Keep in mind: there is no other way to achieve success that lasts. So the Second Secret is this: switch from your needs to your client`s needs. Serve your clients what they need, not what you suspect they need. In the very next article, I will show you how to do it by yourself, without contracting expensive consultants. For the time being, we shall focus on the the Second Secret: switch from satisfying your needs to meeting your client`s needs. Then customers will beg YOU to take their money now—and in the future—regardless of hyperinflation, and whether or not they have money. They will specifically beg YOU, not your competitors! Small and large companies survive crises by learning this secrets and most important, by applying them, as if you only know them and not use them will not help you.
Keep posted for our next article and make a plan until then! It is better to prepare for the worst and hope for the best than the other way around!
 Henry Ford, My Life and Work