In business you maximize profit by minimizing cost and maximizing sales. But that max profit point isn’t the same as the maximum satisfaction that you can give your customer.
For instance, your brand evangelists are the ones that are usually the most loyal but also the most likely to notice change, whether that’s positive or negative, big or small – in the way you handle customers. Likewise, their impressions of how you change your products and services can really affect the way your brand is perceived.
What I’m saying is that if you cut the amount of service 1%, or give people 1% less of the thing they love, that rarely makes them only 1% less happy with your service. I’d argue that trying to save 1% in cost by trying to pull one over on your customers, will come back to hurt you ten fold.
Brand evangelists matter. And they notice. They will not be fooled. So before you change what you offer, thinking ‘they’ll never even notice’ – think again.
I say, instead of thinking about ways to save 1% and deal with 10% of your customer base being pissed off – think of ways to excite your customer that scale. What would happen if you could increase your costs by 1 or 2% – and increase their excitement 10%? What would that be worth to your business? Changing your service in this way not only shows you care, but it gives your evangelists a story to tell. And hell, let them know that costs have risen – but that you want them to know how much you value their business – and that’s why not only are you not cutting back but showing value.
Times are tough, we get it. But times are also tough for your customers. Think of ways you can maximize their experience, even if it means that it costs a little more to do it. They’ll thank you. And they’ll tell their friends. You can fool all of the people some of the time – but you can’t fool all the people all the time.
What do you think? Has anyone experienced a business or a service that has tried to cut corners without conveying it to their customers? Leave a comment and let me know…