UK businesses lose ￡12 billion a year through poor customer experience
When it comes to customer experience there are five types of business:
Those who make things happen
Those who think they make things happen
Those who watch things happen
Those who wonder what happened
Those who didn’t know anything had happened
The finding that UK businesses lose ￡12 billion a year through poor customer experience*, suggests there still aren’t enough businesses who make good things happen for customers.
For students of Force Field Analysis may I suggest two simple reasons for the difference between those who get it and those who don’t?
The driving force for customer experience is commoditisation. When products are universally well made and when competing on price is generally a fool’s errand, customer experience is the key differentiator. The relentless pursuit of superiority through customer voice, staff engagement, seamless customer journeys, marginal gains and closing the loop on problems.
The restraining force is complacency. 'We’re already excellent!' 'What’s the problem?' 'Customer experience is just common sense!'
So while complacent companies kid themselves that everything in the garden is rosy, the committed ones drive revenues and profits forward.
Research from Bain & Co showed that companies whose customers view their service as superior achieve much better growth and profits compared to those whose customers’ don’t.
The real judge is always the customer, never the chairman!
Do you tailor your products and services to the needs of your customers? Do you organise all the functions of your company to deliver superior customer experiences? Do you maintain effective customer feedback loops?
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Planned and Contracted Works Manager at Yorkshire Water
7 年Hi Richard, things are moving in the right direction. A survey carried out in July 2017 by The Institute of Customer Service showed that customer satisfaction in the UK was at its highest point since January 2013 at 78.5%. Room for improvement, but going in the right direction.