Creating Value for your Customer’s Network and Gaining from it


How do you create value from a Customer’s Network? We all know that if you have a great Customer Network, it can lead to referral buying. How do you get to referral buying? A Customer Network is your captive one which you normally manage through databases and CRM and your website. The bigger data base and network is your Customer’s Network (the network outside of your day to day control)

First, you can see the advantages of a customer’s Network. If you use it intelligently, you can get the customer to come to you directly, circumventing the normal means he would have used such as looking for the product on the net or going to a store to figure out whether s/he should buy from you or buy your products and services. Instead of this, they might use recommendations from friends, from social media like Facebook or Twitter. They look at what their influencers and friends have to say. They bypass some early buying steps. It is convenient for them and much easier for you to sell to them because they come with some positive pre-determined ideas

How do you get to this point? First you have to create value for your existing customers. You have to create substantially more value than your competition. Customers then reward you with loyalty and referrals. Creating Value means it is much more worth your customers while to do business with you over competing offers. Your product, services, people and marketing have to better than competitions.

You also have to participate in the Customers Network. What is the social space your customers use? How do they surf the net looking for merchandise through their customer network. How do you become a real (though background ) part of this network? Can you become the customers aide in this interaction with his social space. How do you understand this interaction and how do you derive the data about this interaction or how do you monitor the customers network without invading his privacy? How can you influence him during this phase.

Today, you first step is to be part of this social space, become one with them in this space, and become a trusted ally and part of the referral chain. Then price becomes less of an issue in the value equation. You must start to understand what value your customers need in this space and for a customer why he should (and make it easy for him) to refer you. And how can you add value (make it easier) for a customer looking for a referral. What do you have to slend to eventually create value from your Customers Network.

Contact Customer Value Foundation to influence your customers than ever before.

For Free CVF Membership Click Here

Explore posts in the same categories: Business & Management

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: