One thing to craft a profitable 2018

Another year has passed and has been a memorable one in its own way. Things have been like a roller-coaster ride in the year 2017. Many people might be happy with many might not. But one thing that is common for everyone is that we all want to make 2018 a bit worthier with better profits and higher market value.

Redefining customer strategy can help one business and crafting more profits for 2018. Customer strategies are the articulation of distinctive values and experience an organization will deliver to the customers. In today’s competitive world, clients expect the quality to be good and are keener in exploring the services and offering sections of the provider. Quality of the product is just an order qualifier for any business. Good quality can no longer win order. Hence organizations are working on improving the service levels and offerings for customer acquisition and retention. What a customer expects today is that the organization walks that extra mile to give that wow impact for the offerings. Progressive organizations work on internal as well as external customer requirements to improve the service levels. Hence, redefining your customer strategy to acquire more and more clients is one of the factors that will help you in making your numbers green in the year 2018.Team Faber has been helping organizations across industries with winning customer strategy. Team Faber has worked with one of the largest engineering company in India to deliver an extremely successful customer centricity improvement program and the results have been extremely good.

While working on the customer strategy, organizations should keep the customer happy and satisfied. This is what we call customer delight. It is very important. Customer needs to be treated like a kid. We should continuously keep that enthusiasm in the minds of the customers. Organizations should provide the customer with quality along with variety and engagement. A satisfied customer will stick longer with an organization.

Like kids customers too have certain demands and it is the responsibility of the organization to fulfill them. It is also the provider’s responsibility to keep the kid excited and on the edge with varieties and different engaging plans and strategies.

Besides the above-mentioned points, progressive organizations should have robust processes and should take care of the multiple customer requirements in shortest possible time with best quality and least cost. Today we are in the era where the customer wants variety and if we do not cater to the demands then the customer will be lost to the competition. Hence, the batch sizes are going down and the changeovers will go up irrespective of the industry. Whether it is pharma or automobile it does not matter processes need to be robust and nimble. Changeovers should be very easy and quick without any compromise on the quality aspect. Operational excellence is the key to profitable 2018. Operational excellence is the way of doing business in a manner that continuously improves the quality of goods and services, reduces costs, reduces lead time and improves flexibility to achieve competitive advantage.

Organizations to craft a profitable 2018, should go the operational excellence way as it is a systematic approach to achieving world-class performance in performance, quality and delivery.

Written & Compiled By Faber Mayuri Pandya & Faber Kishlay Krishna

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