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Invest in Companies that Invest in Customers
Author: Bill Cusick
July 16, 2004
Searching to invest in the next great company? The secret apparently isn’t sales, or marketing, or pricing for the industry-beating performers. According to Fortune Magazine, in an article titled, 5 Rules for Finding the Next Dell,” you’d do well to find an organization that takes exceptional care of its customers. According to the article, companies that: understand their customers well enough to differentiate between customer segments; allow employees to “own” a customer and the entire customer experience; and actually determine customer needs before developing products and services, are the companies to watch.
The way we see it, this only makes sense. The return on a company’s investment in developing high-quality customer relationships is multi-dimensional. There is a short-term gain in possible cross- and up-sales, and longer term there are distinct improvements in retention and referrals - not to mention lower new customer acquisition costs. When you think about it, why wouldn’t every company be set up this way?
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