Tuesday, the 26th of January 2021 and the Rotaract Club of Nairobi Central had gathered together on a zoom call to understand two basic rules of business – How to attract and retain a Customer.
If you have ventured into a business or have worked in any market place (I don’t necessarily mean the one that always has a mad man, but technically it is also an excellent example) you know in order to make a profit you need to have customers; and you need to keep them coming.
The success of any business, however, small or big, revolves around these two principles. The two principles extend beyond businesses to organizations that depend on mass membership for continuity and growth.
It is often cited that without the opinion of an expert there is no such thing as certainty. The Rotaract Club of Nairobi Central sought to tap into the insights of two experts to steer a conversation on the principles of customer attraction and retention. Shadrack Radido; a renowned author of several books and Chief Executive Officer (CEO) of the House of Wealth Publishers and Isaac Maweu; a gifted Corporate Trainer and Psychotherapist. One of our newest members Sylvia Kwamboka seamlessly moderated this meeting and she did exceptionally well. Well in Sylvia!
I’m affirmative that you’re probably asking when the meeting started especially because I’m already two paragraphs in and there is mention of how these two principles work. The fact that your still here means that you, my dear customer, are already attracted to what I have to write.
Welcome, the first rule of this principle is identifying your customer and the fact that you’re reading this means that I have identified you. The second step revolves around cultivating what your customer needs and attending to that; in this case, I know you need some information from me that’s why I will keep writing and you will keep reading. The third is to study the King; which basically means tactfully studying what your competitors are doing, identifying the loophole that makes the difference and capitalizing on that.
Turns out those first few points were the tip of the Iceberg; there is more to it!
Everything begins from self-including your business idea. Therefore, intentionally developing yourself is essential in attracting customers. The value you create and inculcate in you is what you give to people. Mr Radido even had us draw a triangle, what he referred to as the Radido triangle of execution. Ideas don’t make you rich but execution of those ideas does. The triangle has “the self” at the highest point followed by “product or service” and “market place” on adjacent sides of the triangle. (I would have drawn but I really can’t vouch for my drawing skills).
Below the triangle, the following notes should follow as a guide.
✔ Knowledge of self; areas of expertise and or strengths.
✔ Knowledge of the product or service you are offering
✔ Knowledge of the market place; find out the best market place of your product or service and how best it can get to the customer.
Ken Blanchard, a renowned Management expert, and Business Consultant, is attributed to the quote “Feedback is the breakfast for champions”. Our experts for the evening agreed on this.
Organizations and businesses starve without feedback. Listening to your customers’ feedback helps the business improve, adapt and grow.
Another important factor in retaining customers is to keep innovating to the benefit of your customer. It’s all about feelings; how your customer constantly feels about your product or service. It was also noted that companies and businesses should often conduct a self-check on its innovations in order to avoid being obsolete. It is advised that the innovation aspect of the company should not be left to one department. Bring everybody on board for better ideas.
Mr. Radido powerfully ended the meeting by saying “History is being read but innovative people are writing it.”
See you during our next meeting on February the 23rd 2021!
Until then, do good, no matter how big or small, for someone else.
Assistant Secretary 2020/21
Rotaract Club of Nairobi Central