The problems on the high streets have not escaped our notice and whether the business is retail B2C focused or indeed B2B, customer experience should now be high on everyone’s agenda.
As a result of research carried out we know there is a direct correlation between the extent of a brands leadership team involvement and great customer experience delivery, However we have also found that in many cases what the leadership team thinks is happening can vary widely from what is actually happening. The need to deliver great customer experiences is vital to stay relevant and profitable.
Why and why now?
The macro business trend is that customer experience has overtaken product quality and price as the key differentiator with research showing that 86% of customers will actually pay more for a better customer experience. Oracle Customer Experience Impact Report.
…. why now?
- Customers are better informed and more demanding.
- Increasing threat from disruptive competition.
- Much more choice.
- Direct impact on profitability and survival.
The argument for making an investment in customer experience improvement becomes more and more obvious and necessary with realising the benefits being a combination of revenue increase, cost reduction and customer and price preservation, Bain & Co stated .. “companies that excel at customer experience grow revenues 4-8% above the market.”
So what if we do nothing and let a few customers down?
Three-quarters of consumers say they are unwilling to stick with a brand that has treated them badly even if they love the brand’s products. However it’s not only that, distressed customers leads to increasingly stressed employees, brands become open to competitive disruption and social media allows disgruntled customers to make their dissatisfaction known to a wide audience generating a spiral of discontent.
The simple answer is, everybody, however who takes the lead? Many departments will believe that they should ‘own’ the customer experience, however this isn’t about ownership it’s about leadership and accountability. If the leadership team deprioritise the customer so will everyone else, the right attitude starts at the top and supported by cooperation across the departments with a common goal to deliver exceptional experiences to the customer.
Where to start?
Customer Experience is all about people and getting the right balance of investment and effort to make improvements. The JXD 7Ps Approach to Customer Experience is designed to help organisations take a step by step approach to improving their Customer Experience by starting with the basics and building out from what’s already working.
Want to know more, visit our website at www.jxdconsultants.com or all John Morris on 07587147759