Group items tagged

Consumers nowadays have a ridiculous number of options on where and how to make their purchases, which has led to them becoming pickier than ever, according to a number of studies. The factors that influence their decisions regarding who to give their business to vary significantly from one consumer to the next, but there is one common denominator among them all and that is that they want to be made to feel special. In fact, a study from Wunderman shows that most consumers want brands to prove they understand and care about them before they even consider making a purchase.

Valuation, revenue, cost of customer acquisition, inventory, venture debt, advisory shares, line of credit, equity - words you would normally associate with stuffy board rooms and golf courses, not prime time television. However, millions of people like me did not learn these words sitting with our notebooks open in MBA classrooms. We learnt them by sitting in front of the TV with popcorn watching prime time, Mark Burnett approved reality television.

When it comes to Customer Experience, there's usually a lot of talk around understanding customers, exceeding expectations, winning over their loyalty and so on. Such talk gets brands excited but the problem is that the excitement is short lived. The initial fervor to delivering outstanding customer experiences dies off which means companies slide back into what they were doing before. In other words, there's a lack of consistency in delivering great customer experiences. It's about grinding it out day in and day out, always placing the customer in front of you, and not everyone is willing or has the mindset to do that! So, we are going to be doing our best to up your consistency levels with the following quotes.

When a customer is seen complaining about a brand, little does the brand realize that this can be a huge opportunity to understand their own business better. Most of the brands are quite far away from perceiving complaints as a stepping stone to rectify mistakes and align customer experience with what customers want. They need to realize that although complaints might sound negative and harsh, it's something worth reflecting on, something that could put you miles ahead of your competitors.

Do you consider customer experience to be an integral part of your business? If so, are you rigorously listening to your customers to be able to deliver great experiences? Needless to say, the Voice of Customer is your most powerful weapon when it comes to understanding customers and their expectations. While most brands recognize this, the strategies they set in motion to gather customer opinion are nothing but ineffective and for namesake. If your organization is aiming to truly excel as a customer-centric brand and proactively meet customer expectations, Voice of Customer programs need to shoulder more purpose and also encompass the dynamics of the customer journey. We've come up with an infographic that explains what's going wrong in VOC programs and how you can set them right!