Entrepreneurial strategy for customer engagement
CLOSER to the profits of an entrepreneurial business is the customer. No wonder why we are always the golden goose that lays golden eggs!!! The value chain of a business should go beyond just satisfaction to real customer engagement. Where the customer is promoted to become a partner/ambassador of the business. Participating and providing transformational ideas all the way from product/service design to consumption.
In that case a value chain of an entrepreneurial business should at each stage invite the customer first before any other processes are done by the owners of a business idea/visionaries. It is worrying that most of our businesses only make efforts to engage with this critical partner at the end of the value chain when mistakes and miscalculations in product/service development are already done. Hereafter, we move from that production orientation to a full marketing philosophy which is supported by contemporary practicalities for an extensive customer engagement.
There is a need to revisit the generic value chains which mainly talks inbound stage to operations and the outbound. These three stages define most of our structures as businesses in various sectors of our global economy. We then have to infuse some customer filtration in all the critical paths with the aim to balance their maximum satisfaction, gaining market share/competitor power and profitability. In this edition we then share some strategies for customer engagement that can be adopted by our entrepreneurs.
To start with, it is the front office of our entrepreneurial business that usually chases away our potential customers. As they are given a scary moment of truth which is far from any expectations. When they are not given that care and friendliness to encourage further talks for real business and consumption. Just to inform the front office should be strategically aligned to a vision of a long lasting engagement with customers. As informed by some of our previous discussions people are happy dealing with people since they get that hospitality and a feeling of being welcome. Yes we are in a global transition where machines and software have replaced humans in various activities but it shouldn’t be overdone at the front office. We have to strike a balance for improved processes through automated systems working with visionaries at the same time fully connecting with humans as customers.
It is no longer about having a relative(s) or any other you just put there at the front office to answer questions. But a strategic marketer who goes beyond to know the customer better and provide solutions with excitement. Most of our entrepreneurs are yet to improve in this perspective. The investment (initial and maintaining) at this stage should be equally higher rather than investing more at the operational/production level only. That is the reason why most businesses have closed as they did not engage with the customers at the initial level for them to produce/ customize offerings according to their expectations.
Besides a wider market research, customer interviews help in strengthening a strategy for improved engagement. This is not a once-off exercise but one that is ongoing at all of the aforementioned stages. Where a checklist must be also applied to assess and measure consistency in your provisions against continued customers’ contribution. Here you improve from an informed perspective rather than thumb sucking. That is the same reason why in the previous edition we agreed that data is a critical strategic pillar in our planning and continuous reviews.
A product/service development strategy should also be part of the entrepreneurial customer engagement. This is when the voice of the customer is felt and directly influences the whole process of coming up with a new or modifying the existing product/service. Usually our entrepreneurs concentrate on the commercialization which is the last stage in the development. It is high time that our customers should be part of our actual production process since with such an experience they will authenticate our way(s) of doing business to further inform others to consume and be part of a product/service brand family. Remember word of mouth is a key component in expanding our customer database which is then converted into sales and profitability.
Brand personality is another vital alignment to a customer strategy for engagement which can also be applied for the success of our entrepreneurial businesses. Every brand has a personality that is seen and felt by its existing and potential customers. Thus there should be an equal match between the personality of the brand and that of the customer. It takes the efforts of the entrepreneur to engage with the customers so as to know them through their personalities and craft/adjust a brand that talks that same. The customers are always searching for a brand that is relatable to them for a good treat. Not all of our customers want to associate themselves with a polite brand, some feel engaged when it is aggressive/harsh, so let’s know our markets better from this perspective.
Loyalty can be regarded as the result of a perfect customer engagement strategy. That is when the customer cannot see any other product/service besides yours for satisfaction. Yes it is true but also we should appreciate that some loyalty programs should be done by the entrepreneur in order to expedite such engagements. When you surprise the customers with some rewards, invite them to discuss what they expect from your products/services and even just for lunch. Especially our SMEs, they should spend more time out and about with the customers to know each other better as they prepare for a bigger picture into the future.
Remember it takes two to tango and here is your opportunity as we strategize for a perfect engagement. Let’s start now!!!
Business Opinion with Dr Farai Chigora
*Dr Farai Chigora is a businessman and academic. He is the head of management and entrepreneurship at the Africa University’s College of Business, Peace, Leadership and Governance. His doctoral research focused on business administration (destination marketing and branding major, Ukzn, SA). He is into agribusiness and consults for many companies in Zimbabwe and Africa. He writes in his personal capacity and can be contacted for feedback and business at fariechigora@gmail. com, www.fachip.co.zw, WhatsApp mobile: +263772886871