Do You Appreciate Your Customers?

Thanksgiving is an appropriate time to discuss two extremes of companies in terms of how they think about their customers. Or rather how their behaviors demonstrate their underlying beliefs and corporate cultures. There are many "in between," but the extremes are worth exploring:

THE THANKFUL: "We appreciate when customers choose us."

Not long ago I was CMO of Guidepoint Global, a primary research firm focused on serving Institutional Investors in hedge funds and private equity firms as well as consulting firms and corporations. Delivering high service level, with the highest level of compliance, is at the core of the company's belief system. And from a growth perspective, we believed that by delighting our customers that they would use our service more (i.e. volume growth) and be better advocates for us.

This wasn't an explicit perspective. We all just knew that our growth would come from providing a great service with the highest levels of integrity. Growth would come from customers choosing our service more frequently. This was part of our culture.

THE THANKLESS: "Our customers are a bank account"
To contrast, I've seen competitors across industries treat their clients like they are bank accounts from which to withdraw money:

• "We're the only game in town because of X, Y, and Z. Your renewal will cost 30% more"
• "We promised you an unlimited contract last year. Now we're increasing price based on that unlimited usage"

A SEASON OF THANKS

My point is actually about attitudes, not actions. A culture of appreciation will long outlast one of arrogance. A culture of appreciation will inspire your team members to be the best they can be and will generate goodwill among your clients. 

Who will you choose as a service provider? 

• One who you seeks to deliver higher ROI for you? To serve you better and more efficiently?
• Or one who seeks to find new ways to increase contract size without seeking to increase the value they provide?

Ultimately a culture of appreciation works best on many levels. It develops inspired and appreciated team members who pay it forward to your clients. Clients who will undoubtedly pay it forward to your company and back to your team members too.

Thanks and appreciation -- gifts that keep giving!