Empowering Customers is a Sustainable Business

The importance of providing information to the client should not be underestimated. Information encourages customers to buy and to get the maximum out of the service being provided. Conversely, business should be eager to accept information from the customer in the form of customer satisfication and feedback surveys.

One of the appealing business case was happened from 1989 to 1991, when Ryder — The largest truck-leasing business in the world — suffered a steady decline in its business and slipped to second place in its core US Market. To address this problem, Ryder recognized the need to use information more effectively to serve customers. Its approach highlighted 3 key influences affecting current and potential customers.

First, The Need to Help Cutomers Buy. For example by producing a brochure explicitly explaining why they should buy Ryder’s insurance, as well as providing another brochure offering other supplies and accessories. Ryder recognized that customers would want to compare products with competitors, so it produced a truck comparison chart, highlighting its competitiveness and reassuring potential customers.

Second, The Need to Help Customers Use The Service. Ryder provided a free guide to moving to every customer and potential customer, they were published in English and Spain.

Third, The Need to Help Customers to Continuously Adapt Their Usage. As well as ensuring that each outlet was well ordered, displaying a strong sense of corporate identity and commitment to customer service, Ryder ensured that there were additional products and services available at its outlets. These included information about the advantages of using Ryder’s towing equipment and details of longer-term discount rates.

The benefit of these measures to customers was closely monitored with a customer satisfication survey, prominently placed in each truck cab. Apart from checking customer satisfication, they highlighted Ryder’s renewed commitment to service, enhancing future sales prospects. This approach contributed to Ryder’s ability to turn around its business. So, how do we implement those insights in practice? Firstly, ensure that existing and potential customers have easily available information about the various services and benefits that our company offers. Secondly, collect feedback from clients to ensure satisfication and to present an image of our company as customer focused. Then, enable customer to use our company’s product — provide them with instructional information, ideas, online guides, people to talk with — anything that will empower the customer and help them adapt our product to their needs.

“When action grows unprofitable, gather information; when information grows unprofitable, go to your bed and sleep” Ursula LeGuinn

Dedicated to: Jeremy Kourdi & Erwin Michiels

—— — — Building Sustainable Business Series by Samfebrian— — —