customer trust Archives - Shep Hyken | Customer Service Expert

Strengthening Business Partnerships Using the Triple Fit Strategy

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:  

What is the Triple Fit Strategy?
What is the key to building lasting customer relationships?
Why do companies need to shift from a transactional relationship with their customers to a partnership?
How can a business differentiate itself amidst competition?
How can businesses add more value to their customers?

Top Takeaways

There are two types of customer relationships. One is the transactional buyer-seller relationship, which is focused on the price and volume. The second type is a partnership, where you collaborate with your customers as if you are one team aiming for the same goals.

The function of a business is more than just making money. It’s more than just getting customers. It is about keeping, nurturing, and growing your relationship with customers. A partnership goes beyond just making a sale. It’s focused on building a lasting relationship based on trust, promises delivered, and working together to solve problems.

Trust becomes the primary way to stand out in a world where many products and services seem similar. It is earned by consistently delivering value and being transparent with your customers. When customers trust you, they’re more likely to stay as your customer and even advocate for your business to others.

The Triple Fit Strategy is about working with your customers on three levels: planning, execution (solutions, processes, and systems), and resources (people, structures, and knowledge). This strategy confirms that you and your customer are on the same page, working towards the same goals, understanding both parties’ strategies, and making the business relationship sustainable.

It’s not enough to just talk about what your product or service can do. You need to demonstrate how it will help your customers achieve their goals. When you focus on how you can help your customers succeed (rather than just making a sale), you create more value for them.

While price cuts and discounts can bring a quick sale, they are not sustainable in creating lasting customer relationships. When price is the only differentiator, a competitor with a lower price can quickly take your customers away. Businesses should focus on understanding customer’s needs, building trust, and adding value. By doing this, companies can achieve better customer retention and grow together with their clients.

Plus, Christoph provides real-world examples of businesses implementing the Triple Fit Strategy, driving growth and building customer loyalty. Tune in!

Quotes: “In business, your goal should not be just to cut costs or offer products. It’s about broadening your perspective to deliver added value by shifting conversations from features and benefits to truly understanding your customers’ priorities.” “Building lasting customer relationships goes beyond just selling a product It’s about partnering with your customers to work toward shared goals as one unified team.” “The key to standing out in the market isn’t just having a great product but creating a relationship that makes you indispensable to your customers. When you move beyond a transactional relationship to create a partnership, you will become your customer’s trusted adviser and get the first call for advice.”

About:

Christoph Senn is an author, entrepreneur, and adjunct professor of marketing at INSEAD in Fontainebleau, France. He is the Founder and CEO of Valuecreator. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.

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Strengthening Business Partnerships Using the Triple Fit Strategy

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