Perception Vs Reality. It’s November 2020 and most companies that are offering non-essential products and services have experienced a significant impact to their revenues as they have been effected by Covid-19 and the international lockdown decisions across the world. We label these as decisions simply because many individuals and corporations made the most logical move, which is hold on to cash, and reduce spend during market volatility. In addition, most corporations and individuals are on the “hunt”, looking for every possible way to reduce costs.
If your organisation provides services and/or products that fall into the non-essential category, then there’s a great chance that you’ve seen slight “shake-up” or change in relationship with your clients. That’s Okay! This is happening because your client is probably now re-evaluating the value and cost of the services you provide. If your client “feels” as though your services do not add the needed value for the price you charge, this is their perception, and currently their reality. If your organisation has gotten away with any minor quality mishaps, or any other unsatisfactory service ratings in the past, you can forget about getting away with them now. This is because there is a fundamental gap that will more than likely impact your business relationship for good. However, there’s good news!!
Although quality of services and cost are some of the biggest areas evaluated, one of the most forgotten values is Trust. Trust Is the glue that holds business relationships together. There is a chance to build trust, and it’s underlying value is TRUTH. Sounds funny I know, but take a look at the 3 elements below centred around truth that will transform your customer relationships.
3 Key ways to Build/Rebuild Customer Trust
1. Create a culture of Transparency
Many business relationships without transparency ultimately collapse because Trust can never be fully established. Many people worry that transparency will cost their relationship with a customer, but it’s quite the opposite, Trust is developed, and Trust is the foundation to long term business. If you stumble in a quality issue, be the first to acknowledge it, deal with it, in the end, you’ll have repeat business.
2. Fix Your Own Shop, Establish and Utilise Metrics
Companies are unable to improve their services and quality of their products if performance measurements are not established and driven to excellence. Therefore, whenever a commitment is made, these commitments are almost impossible to keep continually. Stephen Covey, the author of the speed of trust said “when you make a commitment, you build hope, when you keep it, you build trust”. The absence of performance measurements will only keep you as an organisation leader from fulfilling your commitments.
3. Communicate
Thank, Share, Remind. Thank your customers, Share your value, and Remind your customer why they chose you; why you are still the best option across the market (in a non-egotistical way).