It’s the age of the customer as our target audience hold more decision making power than ever as information about the products, and services, of any organisation is only a mobile search away! In this era, where does the priority to educate your customers come in the list of actions for your overall company strategy?
More so than ever you have the ability to influence your customers with content in order to strengthen your relationship and help to support their purchasing decisions. The following post outlines 6 reasons why you should be investing in educating your customers in order to stay relevant and remain competitive.
- Return on investment
- It is well established that with customer loyalty comes increased revenue. This is best acknowledged with reference to Pareto’s principle where 80% of your revenue generally comes from 20% of your customers. Without customer loyalty it would be difficult to ensure this trend were to occur in your business as existing customers would be less likely to make repeat purchases from you if they had no loyalty. Educating your customers helps you to remain to remain top of mind and provide value to them which in turn increases loyalty.
- Placing the customer at the centre of attention within the organisation
- A focus on the educational content that is relevant to your customers inherently places a focus on the needs of the customer and not just on the organisation which makes the company more customer centric. This in turn will drive improvements in customer experience and improve loyalty.
- Develop actionable insights
- Naturally by focusing on educational content using company blog posts, webinars, social media channels and other channels you will see that your customers will start to interact with the information you’re creating. This in turn will provide valuable insight into the thoughts, and desires, of your customers. The outcome from this is that it will help drive better decision making from within the organisation such as influencing the strategic direction, or the innovations that are required, to ensure that you remain competitive.
- Better customer service support
- When you invest more in customer education the outcome is a lower rate of customer complaints that need to be managed by the customer services team. This has the benefit of helping the organisation to improve efficiencies within the customer service department as it frees the team up to focus on more complex issues. All this in turn helps to improve the customer experience.
- A more trustworthy company
- Customers appreciate the independence that you create to help them find the information they need to help support their use of their products. This in turn increases the trust they will have in your organisation which ultimately means improved loyalty and return on investment.
So, the next time you’re reviewing the marketing budget for attendance at conferences, or the sales budget for sales training maybe, consider the money that is currently invested in educational content for your customers as it is likely that investment in educational content, over the longer term, would be a valuable strategy within the organisation.