Headquartered in Bangalore, racetrack is a Business Transformation Solutions company that enables organizations to deliver measurable business value through the process of creating impressions, inspiring Innovations, and managed customer experience, thus assuring increased productivity.

Communication drives the world of business! Whether communication between individuals or between business entities, or between an individual and a business, healthy and effective communication always decides the final outcome. But, before talking more on this aspect, let’s explore how communication varies for both customers and businesses.

For Customers: Customers are kings who never buy stories. They rather prefer investing on experiences that can simplify their lives; streamline their needs, requirements, and finally deliver them with the needful. And, in this course, they can never be persuaded or influenced to buy from somewhere they don’t want to. There are several factors that can influence customer’s decision while purchasing. To be precise here, customers crave for value for their time, brand experience, flaunt value, and other aspects while buying from a certain brand.

Talking about value for their time, it can be defined as the overall time taken to buy the product compared with the benefits they will obtain from the product. For example, while buying a pair of socks, a customer will never appreciate spending an entire day. However, the same customer would not mind spending an entire month while purchasing a new apartment for his/her family.

Brand loyalty and brand experience also influence a customer’s decision while buying. For an instance, if we consider buying a mobile phone, customers always look for the brand’s market reputation, analyses the brand’s existing value in the market, and also know more about how efficient the brand is in resolving customer’s need. Only when a customer finds reliable answers to these questions, he/she will proceed to buy from that certain brand.

For Businesses: Options for businesses are very narrow. Unlike customers, businesses cannot differentiate among their customers; each customer holds equal importance for them! They are here to serve their customers, and whoever buys their product is a customer for them.

However, by improving their customer service or buying experience, they can create an impact among the customers. By doing so, they will be able to retain the customers and can rely on them for their future prospects.

While doing so, businesses need to keep into account that the overall time taken to make a sale is not long enough. Taking longer time can make the sale-process extremely redundant. Now, the question is, why do you think businesses fail to cater to their customer’s need within the given time despite knowing this?

There are multiple factors that proves to be challenging in offering quick solutions to the customers; customer service and support is one of the major cause in the list. Business organisations are aware that their customers expect quick solutions, but their inability to respond back to each customers individually within a given timeframe causes the redundancy in the process. Also, we must not forget the fact that communication starts getting diluted as responding time increases. More is the time to respond back to customers, the brand value and experience starts fading, and customers finally starts losing their interest.