From Customers to Investors: Seven Steps to Build a Community of Future Investors
Updated: May 7, 2021
Unhappy customers are a fact of life in business. As customers, we’ve all been there ourselves… perhaps a product didn’t stack up to our expectations, maybe delivery was frustratingly delayed, or perhaps we were having a bad day.
Whatever the real reason behind customer dissatisfaction, your approach to dealing with it can make or break your outcomes.
If you're thinking about raising capital in the future, one of the avenues you can consider is equity crowdfunding. Still, first, you need to create a community of happy customers that, perhaps, will invest in your business growth as investors.
Here are the 7 steps to have happy customers and create a community of future investors:
1. Step into their shoes. Put aside your prejudices and assumptions. You don’t know what they're thinking or feeling.
2. Be calm and listen carefully. Breathe deeply and remain above the line. Don’t react or take it personally. It will only make things worse. Seek first to understand (even if you think you know what they’re going to say). Actively listening will enable you to frame a resolve specifically for them.
3. Repeat or rephrase to show you heard them. Bounce the ball back to gain further clarification. It’s likely the tone of their response will relax as they sense you want to help.
4. Thank them for voicing their concern. Acknowledge their time and patience as you seek to fix the issue. This will be appreciated and can help build rapport.
5. Summarise outcomes and next steps. Devise a plan to try and resolve the issue for your customer. Put them at ease!
6. Show authenticity. Be genuine. Act as though your favorite customers are watching. Essentially potential customers will hear about the experience through the particular customer's eyes anyway - whether it’s positive or negative.
7. Cut your losses. Some people are outliers and unpleasable - these aren’t your target customers. A refund or apology goes a long way to avoid a negative online review, but consider removing them from marketing lists.
A disgruntled customer is a massive opportunity. Acting fast to find a resolution enables you to deliver beyond their expectation, turning an unhappy customer into a raving advocate.
"To the customer, YOU are the company." - Shep Hyken