Growth has always been vital for THP, but our customers come first. These two priorities always have a direct relationship; when we are good to our customers, our company grows and succeeds. That is why customer satisfaction is first among our core values.
In each of the core elements of marketing—product, place, promotion, and price—the customer should be the prime consideration. After all, they are why you are in business. However, many companies that grow to the level of the multi-nationals seem to forget the importance they once placed on the customer’s needs and feedback. I believe this is the reason so many local businesses have an advantage over these global giants: they value and leverage customer insight.
Believe it or not, it is possible to sustain ongoing growth while still engaging with and investing in the customer. This is a priority I personally take seriously in the marketing portion of my current role with THP. It’s an ongoing challenge and responsibility to find ways to extend our message and reach our customers in a genuine way. Without that connection, we’d lose the essence of what THP is and what it means to its customers.
Regardless of your industry, whether it be business-to-business or business-to-consumer, maintaining your relationships with existing customers is more beneficial than acquiring new ones. A recent Forbes article touched on this very point.
Nurturing those relationships takes a great deal of work and dedication. It requires authentic communication and a desire to truly understand what customers want, why they want it, and how to deliver it to them. The success of so many of our products can be attributed to a unique understanding of our culture and its nuances. It’s what allows us to compete and succeed against the largest beverage brands in the world.
We’ve always placed great value in truly understanding the circumstances of our target markets. We don’t just analyze trends in urban conurbations where sales are concentrated; we seek to understand what people are thinking in the provinces, too. We also dig far deeper into people’s lives than a focus group or consumer interview will ever do. We really want to understand what makes the Vietnamese people tick and how that feeds back into the country’s history, culture, folk tales, and proverbs.
These are the nuances that keep your company competitive and ensure that you deliver a product and service that meets the wants and needs of your customers. Too often, companies lose sight of the fact that they exist to serve the customer.