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Reducing Time to Value: A Win For Customers

03 September 2024

In a time where customers are inundated with options, providing value is crucial to success, and providing value in the quickest time is key.

With a new generation brought up on the instant gratification of likes, shares and follows, customers have little tolerance for delays, they expect benefit from products and service companies quickly.

Time to value defines the time it takes for your customers to see the value they get from you as a provider. From the moment they first interact with you or use the product they buy from you for the first time for example. Time to exceed value is a deeper level and signifies the moment the customer discovers benefits they didn’t expect initially, and it’s a particular focus that is missing in the technical industry we operate in as we’re all so busy that it’s often a rush to quote rather than an attentive rush to have a discussion. Clients can quickly get overwhelmed in our industry if they’re not technically astute in the physics of air movement, so they must quickly hand over their trust to an expert who talks them through the application and potential component solutions. At this point they realise the cultural value on offer, by cultural value I mean the way they’re spoken to, listened to, and understood. It goes beyond the product value. Fan products are becoming more of a commodity, a crucial commodity for systems to work, but still, something they can get from multiple suppliers with very little difference in features and benefits. Cultural value is different. A crucial element all our team possess that makes our culture foster the right relationships is curiosity, learning what the enquirer wants to accomplish and why. Customers are passionate about their work, so they want to talk about what’s preventing them from moving forward, they want to be challenged and are, most often, open to suggestion on alternative ways that may improve efficiency and more. Being curious to the customers application earns the respect of the customer and his motivations for contacting us in the first place. The journey doesn’t end at curiosity, we want our customers to know they can turn to us when they have an integration challenge, so they’ll share their pain points and their high points. The less friction a potential customer experiences initially and going forward the better, it’s a win-win situation for both parties by building a level of trust that allows considerably more room to test out new ways to offer solutions, delivers better outcomes and high-quality service.

Recognising the value you can elevate within your industry starts with the why, why does your company exist? For us we exist to help our customers to create better systems, its embedded throughout the company in our customer centric values. Values that were created collaboratively with our entire team a few years ago. We help our customers to create better systems through working with them, listening, being attentive to their needs and showing resourcefulness in finding the right industrial fan components that make their systems the best. Challenging the status quo by offering a culture value leads to that “aha moment” much faster than they would have when compared to the antiquated responses in the industry we work in. It’s reported that companies who implement shorter time to value times have reported an increase in customer satisfaction by 20%.

Business moves fast, and there is pressure for results in every industry. While manufacturers and suppliers might be experts in products and components, it is important to remember that our customers may not be. By prioritising people and sharpening focus on customer needs we protect the teams focus from less pressing matters. That’s the key to maximising our customer centric approach.

 

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