What Your Customers Think of Your Company is More Important Than Revenue
Earlier we had spoken about how we, at Vertex, conduct regular meetings with our frontline sales teams to understand their adoption of set processes. Read the post here.
Another exercise we indulge in is to understand what our customers think the company’s core values and personality traits are.
Why?
Every year, of the past 28 years, has been an effort to build the Vertex ecosystem brick by brick. And our building blocks comprise our esteemed customers, partners and employees. And what binds us together are our core values and beliefs.
The reason why a customer chooses to engage in business with an organization and continue to do so over an extended period of time boils down to how comfortable the working relationship is.
Contrary to popular belief, possessing the best products, technology or service offerings isn’t enough to run a successful business and retain clients. Companies are run by people and understanding these people, their business needs and aligning your offerings and services with these needs is what differentiates you from your competitors.
From our recent interaction with a clutch of customers, here are 4 phrases or words they used to describe Vertex;
- Truly Reliable
- Knowledgeable
- Values Relationships
- Committed
These might exist as individual words or phrases, however it requires an organization to fulfil a large spectrum of prerequisites, over a sustained period of time, before it can be termed trustworthy, knowledgeable, committed or one that values relationships.
Our thoughts
We closely identify with these customer thoughts and is precisely how we wish Vertex to be perceived in the market.
If an organization adheres to its core values and beliefs while successfully managing to translate them to daily business operations, the business revenue will reflect that.
How we see this evolving in the future
Relationships alone will not take an organization much into the future. The markets, technology, customer expectations, businesses are ever evolving. And customers expect their partners to be at the top of this evolution and addressing their pain points in the shortest possible time, within the allocated budgets while providing the necessary support services as per their expectations.
And the only way this can be achieved is to constantly stay in touch with your customers while taking the effort to understand their business, their customers, their requirements and suggesting the best possible way forward to achieve their business goals.
In conclusion
The intention of this article was to shed light on the importance of sticking to an organization’s core values and beliefs instead of focusing only on short-term revenue. Revenue is important, no doubt, nevertheless, without appropriate customer service practices and planned approach on customer retention, long term success would be near impossible.
In fact, these cogs if left unoiled, could bring the whole machine to a halt altogether. By religiously adhering to one’s core values and beliefs, you will attract new customers, prevent customer churn, gradually build your brand reputation, in turn steadily grow your revenue ensuring long term business success.
What are your thoughts on the above?
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