deal breakers

The Customer is Always Right – Version 2011

Posted by Carl Gould on December 30, 2010
Career, Franchise, business, entrepreneur, marketing, small business owner / No Comments

This is an expert from an interview I recently did on… The Customer is Always Right – Version
2011.

What will be their top priorities?

CLG – consumers are looking for certainty. That certainty will take 2 major forms…1) That
they are saving money and that they are spending the least possible for this purchase. During
economic times like this, it is seen as irresponsible to be spending money. So, as long as you
are getting the best deal possible it is OK to spend. 2) That their investment (investment, not
purchase, but investment) in a product will yield the promised result. In other words, consumers
will be willing to pay a little more for a product or service if they feel it meets its promise the
first time. Consumers only have one chance with their discretionary income so they cannot
afford a mistake. In summary, consumers will be demanding either the lowest-priced product or
the highest-quality product.

What are some consumer demands that, if not met, will be deal breakers?

CLG – The consumer demands that they receive an ‘experience’, or they will go elsewhere. It’s
not enough to just sell coffee. You either have to provide a drive-thru window, or a lounge area
to sit, or be surrounded by books, have wifi, or consumers will buy their coffee somewhere else.
If you are selling low-cost products, the consumer demands a generous return policy, flexible
hours and convenient locations. Toys R Us® has their express stores that are open just during the
Christmas shopping season. The Halloween store is open just 30-45 days per year. They provide
exactly what the customer is looking for in a buying experience and have, as a result, been very
successful.

I’m trying to get a fix on the things that businesses, particularly small businesses and start ups,
will have to do to win and keep customers in the coming year.

CLG – Small businesses and start ups will need to be able to demonstrate that they have
specialized expertise in their area. It’s not enough for them to put products on the shelf and hope
people will buy. Emerging companies will need to be able to speak very intelligently to their
niche so they can successfully get off the ground.

 “Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC
(www.CMTmentors.com), the farthest-reaching business mentoring organization in the world.
Carl’s unique approach to executive coaching, business mentoring and performance training
helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business
Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and
business owners a step-by-step formula to taking their businesses to the next level”. Gould is
also the author and creator of The 7 Stage Turnaround Process (www.7StageTurnaround.com).
7 Stage Consultants help business owners grow their sales, increase their cash flow and lower
their expenses using a proven method of business growth strategies. To learn more about our
Consultants, go to http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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