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Have you found your “teacher customer?”

Berkonomics

Your customers know what they want more than you do. This week’s insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. The customer would be the first to receive the new functionality in a new release. Providing feedback to your teacher customer.

Custom 156
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Switching costs: A competitive advantage?

Berkonomics

We know that one of the ways we hold onto our customers is if there are high switching costs to move away to a competitor. Do you have an estimate of the cost for a potential customer to switch to your side? Offer incentives to existing customers to stay, and for competitor’s customers to switch. So, email was out.

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Customer empowerment? Blame the Internet.

Berkonomics

Customer empowerment is moving so fast nowadays that many of us are running to just catch up. But don’t close your eyes to the fact that your customers have grown to expect your products or services in the form of…. Entering the age of mass customization. The post Customer empowerment? Expectations rise with technology.

Custom 156
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Find your “teacher customer.”

Berkonomics

Your customers know what they want more than you do. This week’s insight came from personal experience and from a good friend who advanced the notion of the “teacher-customer” years ago. The customer would be the first to receive the new functionality in a new release. Find one to teach you.

Customer 243
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Can you defend your pricing niche against your competition?

Berkonomics

There can be nothing more important in your business planning that selecting the proper pricing niche, making your story clear using that niche, and the defending your position against the competition. Email readers, continue here…] WalMart is known for lowest prices, often for identical merchandise found in other stores for more.

Pricing 226
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8 Ways To Ensure Customer Interactions Are Memorable

Startup Professionals Musings

Yet, as a business consultant, I often find minimal focus on improving employee engagement and assessing their customer-facing performance. For example, I commonly see metrics to keep track of revenue per employee, overtime, and absenteeism, but I don’t often see measures of overall customer satisfaction with individual employees.

Custom 147
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Here’s how NOT to define your competition

Berkonomics

An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Your potential customers could choose “do nothing.”. So, do your homework especially well by putting yourself into the minds of your potential customers. We investors see this all the time. Do your homework!