A website I found when writing this post, makes my point, “We believe in the business of experience”. Successful business, or more specifically, very successful businesses, value their customers. As a California small business in two niche markets, one of my enterprises serves a specific market of business to business services, and the other has a broader client base. Yet both sets of customers are looking for the same things from me. Competence, reliability, competitive pricing, and an excellent customer experience.
The value of serving a niche market is the relatively few competitors given the specialization required to service it. The challenge of servicing a niche market is both to continue to treat a client as though they had numerous choices for your service. And a niche market can become financially-stressed by bureaucracy as well as tough economic times as has occurred during this Pandemic. Our operations must maintain customer trust. In contrast, some companies fail to recognize changing needs of customers and the value of the customer experience. Montgomery Wards, Sears, and even General Motors stumbled and failed. Only GM returned to profitability.
Our business was built initially by personal recommendation to our first clients. It initially expanded due reputation of its founders and partners- consultants. However, the success and continued growth for these enterprises have been due largely to the customer experience. Having a willingness to listen to the needs of the client. Using current media and technical means to provide a quality first impression to attract customers. Influence the customer to not want to go elsewhere for service.