It all comes down to one thing: what is valuable to your customers?
I was browsing through McKinsey Quarterly this evening and came across this report on Maintaining Customer Experience from December 2008.
I quote… ‘How can consumer businesses make necessary investments in service while facing the pressure on revenues and costs? Our review of the companies with the best customer service records in ten industries suggests that one key is to minimize wasteful spending while learning to invest in the drivers of satisfaction. Specifically, companies should challenge their beliefs about service and test those beliefs analytically. Many will discover that long-held, but seldom-reviewed, assertions about what customers really want are wrong.
Sophisticated companies that figure out what matters most to customers, eliminate the investments that don’t matter, and finance the ones that do, will thrive—and may find themselves, when the economy returns to normal, with fewer competitors.’
I have a moment of deja vu here. Isn’t that what I posted on here yesterday?
The role now of all purveyors of goods and services is to find out what those [customer] values are and to adjust to provision of them accordingly. Those companies that cannot fulfil the values of its customers will fall by the wayside. Those that can and do, will thrive. Whether in nature or in business, the fittest survive and the weakest do not.
One of the most rewarding things about the work we do at The Best Organisation is the ability to show clients where they can save money and get a better return on their ROI, by understanding what is important to their customers, i.e. those ‘drivers of satisfaction’. It’s also rewarding to know that the authors of that McKinsey report (Adam Braff and John C DeVine) are singing from our hymn sheet too.
No comments yet.