Adopting practices that elevate the customer experience will undoubtedly produce a return on investment and provide a steady foundation for your brand.
Article No :1580 | February 19, 2016 | by Chuck Longanecker
There was a time when businesses could depend solely on the quality of their products to bring in new business. Success came from a company’s sole focus on delivering a dependable and highly functional product/service to the market.
Today, that’s simply not the case. The majority of large brands have become marketing machines, competing against each other’s’ hype instead of being user-centric in the design of their products and services. Product differentiation has become a “me too” gimmick and is no longer viewed as the success factor in big business today.
But change is coming. Consumer habits and preferences are evolving for the products and services they use. For example, while shoppers used to browse in stores before deciding what to buy, Deloitte reports that more than 49 percent of consumers have researched which product before they even step into a store. The modern consumer has access to nearly all the information on the planet in their pocket, which is becoming a force field for interruption and coercive marketing. They are no longer held hostage to what is available to purchase, hire or engage locally. They have a choice and want that choice to align with their personal values and a meaningful experience.
A new generation of businesses that were mere startups a few years ago and are now billion dollar darlings have a new trick up their sleeve that they’ve learned from the luminaries of yesteryear. They are focusing on the customer experience in both their product/service design and business model, instead of a heavy emphasis on marketing and sales strategy, a road paved by service heroes such as The Four Seasons and Nordstrom. Fortunately, their success is starting to encourage big business to rethink their approach.
Focusing on the customer experience and its design affords businesses the opportunity to differentiate in a more meaningful way. It has even been predicted that customer experience will overtake price and product as key brand differentiators by 2020. The businesses that will triumph in their verticals are those who elevate their customer experience from ordinary to extraordinary.