Every business makes promises like the “best burger in America” or the “#1 windows in the USA”. Here at Medallion Bank, we often run into buzz phrases like “quick fundings” or “fast approvals”. These promises are generic and difficult to prove with real evidence. Does “quick funding” mean within 24 hours? Are “fast approvals” decided within 5 minutes? Or 15? Or 60? The problem with empty promises is that every customer has a different sense of what “best” or “fast” means to them. If they’re sold on one vague concept and then experience something else, you lose their trust. So how do you fix it?
Consider the promises you make to your customers—on your website, social media platforms, physical collateral, etc. Are you promising something generic or specific? Instead of saying “We install the longest-lasting metal roofs around!”, use data you’ve collected over time to say “Our roofs last 5 years longer than the national average”.
Fine-tuning your marketing/sales language can help adjust customer expectations going into a relationship. However, ongoing due diligence is necessary to ensure that your promises are actually matching up with reality. After the work is done, consider reaching out to a sample of customers to gauge their overall experience. Use targeted questions to pinpoint the specific value you provided that resonated with them.
There are plenty of upsides to having a better understanding of your customer experience, including:
- The knowledge, backed by data, of what customers value in your company
- Improved customer relationships
- Greater trust from customers when they experience what they were promised
- Improved company reputation
What are some other reasons why you should promise only what you can deliver?
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