Wednesday , 29 May 2024
What You Need To Know About Customer Expectations And Profitability

What You Need To Know About Customer Expectations And Profitability

Customer Expectations Can Be The Source of Problems
and a Drain On Resources OR They Can Be A Powerful
Source of Profitability….When You Know What To Do

Customer expectations can make you a big winner or a major
loser in your market.

So….you have to 1) know what they are and 2)manage them
carefully from the very beginning of your marketing and engagement.

And let’s take another step back.  Let’s make sure that you’re
spending the time, resources, money and energy to understand
the expectations of the right clients and customers.

Nothing will make your business and life better than attracting
and understanding not only your current A level customers
and prospects but those who you want to attract to take your
business or practice to the next level. The future AAA
clients that will respect your product or service and who are
anxious to and capable of paying.

Why spend dollars and resources attracting prospects that
don’t fit the criteria of your current and future “perfect” client or
customer when with a little advanced thought, you can
identify a more perfect client or buyer and then go after more THEM.

So once you’re attracting more of them with the same marketing
dollars, you have to really know what their expectations are and
you have to begin controlling them from the start of the business

And then and only then, when you know they are profitable, will
you expend the marketing send and the profitability of your
business or practice.

For example:

If your attracting high level managers as clients, they will have an
expectation of almost instant phone and email response.  They might
have a very specific expectation about which one to use. And that
expectation might or might not match your preferences and ability to
And, if you don’t operate that way ( a call back within an hour)
you’re destined for trouble UNLESS…you are able to control
that expectation and get buy in on how you work.

That absolutely require you to build massive value through
your marketing and sales process BEFORE you “control”

Failing to do this results in dissatisfied customers (or too
high a percentage) who will not only not refer to you but
who might damage your ability to get clients and customers from your
preferred pool or source.

In my own case, I represent many many high level business
men and women who have to lead or manage many levels of
employees and team members.  They are used to a very short response
time from employees or team members and often have a clear
preference for email as the mode of communications.

But, as an estate planning attorney who is addressing multiple
points of personal information and stress and who is dealing with
complicated tax and non tax issues, face to face meeting and phone
contact are usually essential. Email is BAD.

And, since my day is filled with client appointments, I often don’t
even see email until the evening.

So I have to control the expectations UPFRONT.  Once
they are sure that they want to work with me, we have a discussion
about the process, and how and why I work that way.

I go to some trouble – from the very first contact – like my
videos, books, reports, and in our face to face meetings to
explain that I’m very popular, hard to reach, and to some
people, difficult to work with.

I even did a marketing piece based on the question of why people
who owned their own businesses, professional practices and/or
were executives would wait so long to see me and pay me more.

But, that piece idetified who I wanted to work with AND>>>>
If I’ve done a great job of building my value and they really
want to work with me, and they see the advantages, they will
not press for a call back within an unreasonable (to me) time frame.
They will agree to follow my process, to schedule calls and meeting
in advance and to otherwise come to an agreement on expectations.

But human beings being who we are often forget.  So our engagement
letter, our final few moments at the initial consult and sometimes in
follow up gently reminds them of the process and how and why
we work that way.

When client’s expectations are set in a reasonable way that is
PREST for you to meet and exceed their expectations, you’re a winner.
Satisfaction and referrals follow.

So take the time to notice what clients are currently about
their expectations and whether or not you’re meeting them.

Then get clients who either agree with your ability to deliver OR
who can be educated and convinced to set reasonable expectations
that you can meet.

To Your Success!

Dave Frees

For one of Dave’s Training products on
enhanced persuasion and influence that can
transform your marketing visit Persuasion and Influence.