A few days ago, one of our followers asked us the above question on Twitter. This question got me thinking about sharing my thoughts in a brief post.
@mauconline trick question, Mauco, what’s more important: product or customer?
— Derric Haynie ?? (@SixPeppers) April 7, 2017
First, it is normal for companies to put the bulk of their resources into improving their product.
But we must realise that in recent times, things have changed a lot because of globalisation and the internet.
Before, it was possible that if you had the monopoly of a particular product in the market, consumers would have no alternative than to buy from you.
But today, the internet has helped to shift power from the producers to the consumers. The consumer now can search for alternative products on Google etc., and buy online.
So the customer is no longer shackled to one producer. This freedom of the customer is one of the reasons why I say that the customer is more important than the product.
Second, let us also look at it another way. Say for instance you have produced a particular product for some time now in a single colour, e.g. orange.
And business has gone great for you over the years selling your orange product. But what if for some reason you start getting a sizeable number of inquiries for your product in colour purple!
Would you stick to your guns and try to convince your customer about the virtues of your orange product? What if your customer doesn’t fall for your sales antics but insists on purple? Worse yet, what if your customer goes to your competitor?! Would you say then that power lies with you or with your customers?
Third, without your customers, you can’t be in business. With the aid of social media marketing, it is now even possible to also find an online ‘community’ for your product before manufacture!
This reason is why I tell business owners to use social listening to get to know what their online community is saying about their product, service or brand and not using social media to blast posts about their brand.
So how can business owners use social listening? It’s by creating buyer personas based on their existing or potential customers. And building a strategy from that, to listen to what persons that fit these buyer personas are saying on selected social networks about your brand or industry.In the past, it was possible that if you had the monopoly of a particular product in the market, consumers would have no alternative than to buy from you. Click To Tweet
Want to learn more about social media marketing to grow your business? Schedule a consultation. I’ll be glad to help.
Now over to you!… If someone asks you what’s more important: product or customer? Which would you pick and why? Share your thoughts in the comments below. I’d love to know what you think.
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