We’ve learned through our culture to always satisfy our customers. We’ve learned from endless experiences that when we don’t satisfy our customers, someone brings our failure to our attention and we observe the consequences. And those consequences are very expensive. Take acquiring new customers, for example, the costs of gaining trust with someone you just met is quite high. It takes a lot of time and energy for them to accept that you will do what you say you will do. This example is what we are all faced with when we fail to satisfy our existing customers… It forces us to have to go find new ones.
So why satisfy your customers? The fundamental reason we must satisfy our customers is to lower the buyer and seller’s costs to transact with one another over time. When two people have put in the time and energy into establishing a relationship it allows them to anticipate how each other move, how they work and how they act in given situations. Being able to anticipate how someone will act to take care of our concerns is a capacity we gain over time of observing what people say and what they produce – this is called Trust.
Once trust is established, we benefit from reoccurring transactions because we do not have to spend as much time, money and lost opportunities to cause the transaction to occur. Said simply, we do not transact with people who do not follow through and do what they say they are going to do (Trust); we either look for more grounding or evidence to produce trust or we decline their offer and move on to someone else.
When you’ve been told you satisfied a customer but they fail to accept your new offers easily, it becomes pointless to satisfy your customer. Continuing to try and transact with someone whose actions do not align with what they previously said produces distrust in the relationship, and drives the costs to transact back up.
Jenco’s purpose for satisfying our customers is to lower each other’s costs to transact, which means both the buyer and the seller will increase their value in the marketplace.