The conclusions from our research in the latter half of 2008 identified that brand-driven service strategies produced the most profitable growth. We discovered that customers base their choices predominantly on relationship values. Examples are the trust a customer places in the service provider, or the image of being the market leader for customer service. One might argue these are fairly abstract concepts.
It is necessary to establish and demonstrate the key building blocks of the customer experience so that suppliers can demonstrate the value they can add and thereby create customer confidence, secure the right image, and be clear on what makes the distinction in the eyes of the customer when comparing a supplier against the competition. It is, however, most important for a supplier to identify and optimise the right building blocks at all the customer touch points and utilise them to build and strengthen their propositions and offerings, and interactions with customers.
Most companies struggle to understand why customers remain loyal; what drives customer value – even in some cases to understand loyalty, or to measure the components. As soon as companies are effectively managing the total “Customer Experience”, they:
- Can reduce cost by removing the components of the service experience that are not valued by the customer, and thereby reduce costs by delivering only those components of the service truly valued by the customer.
- Improve customer retention rates by adding or improving the components of the Customer Experience that are missing, in the perception of the customer.
- Increase revenues and growth by developing new services that can address customer issues and add value.
- Improve brand value and margins by adjusting brand communication strategies to reposition and increase the brand and the values it represents. Accurate positioning may often help to create the right level of expectation with the customer ( not under- or overpromising).
Objectives of the Customer Experience Research
Our ongoing "The Future of Service Management"| research aims to gain a deeper understanding of what customers regard as valuable aspects of their relationships with specific service providers and how these companies should manage the customer experience to better deliver to those needs. Awareness of real customer needs has proven to significantly improve the perception of service delivered and reduce the costs of delivering the same level of service by accurate delivery of desired service. Our research objective is to identify methods or rules that can be applied in Service Experience Management (CEM).
Three levels of participation in this research offers companies the possibility to learn more about Customer Experience Management:
- Company specific design of a Customer Experience Assessment
- Use of our generic Customer Experience Assessment
- Completion of the Customer Experience Management Survey
Click here for more information about participating in our research about Customer Experience Management