Profitability is vital to a successful business. Customers are an essential resource in attaining organizational goals and profitability because customers invest in an organization’s products and services. Therefore, organizations must build quality relationships with their existing and potential customers and balance the desires of their customers and the organization’s profit needs to achieve success.
Building quality customer relationships entails utilizing a customer-focused approach to focus on customer desires, wants and needs and cultivate positive customer experiences that increase customer loyalty, growth, repeated purchases, and profitability.
According to the PwC article about customer experience, 73% of customers use their experience as an essential factor in their purchase decision-making process, followed by product quality and price. Moreover, compared to advertising, 65% of customers in the U.S. believe positive experiences with a brand are most influential.
Customers connect and invest in brands they perceive as valuable and offers customers products and services that meet and satisfy their desires, wants, and needs and provide a meaningful experience. The greater the customer’s level of satisfaction, the more likely the customer is to engage in repeated purchases, recommend or refer the brand to others, and the greater the profitability for the business. Furthermore, organizations can balance their customer needs as well as their profit needs effectively.
Identifying and understanding customer wants is critical in predicting customer behaviors and balancing their desires, wants, and needs with organizational profit needs and goals. It is evident in achieving the government sector’s nutrition supplemental program goal of servicing clients’ nutritional wants and needs, maximizing the use of allocated resources efficiently, and improving its bottom line.
For instance, customer insights and valuable information are collected from various methodologies about customer desires, wants, needs, and experiences during client follow-up consultations and contacts. Customer feedback and satisfaction surveys, client or customer interviews during food prescription benefits issuances, and customer food purchase redemptions and shopping experiences at various authorized food retailers provide insight and valuable information for program leaders and decision-makers to help make quality informed decisions. They enable the organization’s leaders to achieve organizational goals and objectives and balance customer needs with its profit needs.
Furthermore, customer trends relative to the customer’s use of program services and prescribed food benefits, their shopping and behavior patterns also enable program leaders and decision-makers to assess, evaluate, and expand the supplemental nutrition program’s eligible food selections. It allows managers to improve lactation support services and complement their diverse cultural backgrounds and dishes while promoting healthier food options that satisfy their nutritional needs.
The organization benefits from balancing customer desires with their profit needs by improving customer satisfaction and the quality of life of clients or customers as well as their families by focusing on the customers, putting customer’s needs at the center of its business strategy, which ultimately contributes to increasing sales, customer retention, and improving sustainability.
Cultivating a customer-centric focus enables businesses to place customers first, gain their trust, and create a personalized and positive customer experience that increases value, growth, incites customer engagement, encourages repeated purchases and investment in an organization’s products and services, and generates results. Balancing customer wants with the organization’s goals, and profit needs to help the organization establish a valuable, mutually beneficial, and meaningful experience with customers to achieve success and optimal results.