Innovation  |  Competition  |  Brand Power  |  Promoter Customers  |  Agile Business  |  Momentum  |  Aligned Team  |  Leadership  |  Customer Centricity
Article CX Strategy

It Never Pays to Fall Behind on Customer Experience

I don’t know how many CEO’s I’ve talked to in the last couple of years who’ve been blindsided by the changing demands in their industries.  What I’m referring to of course is the demand for omnichannel access to the full array of marketing and support services that a company has to offer.

Look no further than your own family for an example. Have you got a late adopter of a smartphone — like a parent or grandparent? Did you notice how quickly they transitioned from being amazed and overwhelmed by the device to complaining about how they wished it had a feature their friend’s smartphone had?

The fact is that it’s impossible for companies to focus on the ‘easy’ market segments (ie. non millenials) and get comfortable with a less than competitive product or service offering.  

The key here is to understand the real challenge that most businesses face in the current environment.

Battling expectations

It’s easy to lose track of the fact that the daily battle for companies is not against competitors but against customer expectations. That’s where many are vulnerable, because they get comfortable with the limited expectations of their customers that aren’t up to speed on what’s out there.

It only takes one competitor

The problem is it only takes one competitor to get their attention in an emotion grabbing way. It could be an effective ad or a amazing pricing offer. Or worse it could be a close friend, family member or rival getting a competing product and then rubbing it in their face.

We’re all going to become ‘millenials’

A lot of companies spend time bashing millenials for their high demands and lack of patience with old thinking but instead they should be engaging with them. Why? Eventually we all become ‘millenials’ — our expectations evolve to meet the best offerings out there and those companies that didn’t have the foresight to anticipate the shift will be left stranded.

The need for thinking ahead

The need for foresight isn’t just a features thing — it’s about your product and service development infrastructure. Is your offering had to adapt because of the way it was designed? Or did your company invest in a flexible framework that allowed you to keep things lean when the market allowed it but also gives the ability to quickly catchup to competitors when things shift suddenly?

Agile product or service platform

Probably the most important thing for companies across industries to have these days is a flexible infrastructure / platform upon which they build and deliver products and services. Many companies don’t choose to be innovation leaders — and sometimes that’s fine — as long as they can be agile followers when required. Agile following is a deliberate strategy — which requires investment in agility both at the team and product level.

Jul 18, 2014  
29 shares
LATEST ARTICLES exclusive

Are You Using These 5 Approaches to Greater Business Agility?

3 Ways to Innovate the Customer Support Side of Your Business

Going From Good to Great on Customer Centricity: 4 Ways Companies are Creating Real Advantage

Using Customer Centric Strategies to Build Business Momentum


MORE ARTICLES

EXPLORE MORE
Article CX Strategy

It's impossible for companies to focus on the 'easy' market segments (ie. non millenials) and get comfortable with a less than competitive product or service offering. 

theEdit NEWSLETTER latest issues
LATEST ARTICLES strategy, insights, examples
Article CX on Social

The price is very high for falling behind when there’s an evolution going on — it can be extraordinarily bad for your brand.

Connect to Customer Excellence Magazine
 
Different social platforms ...
varied experiences.

Get a wide perspective on
Loyalty | CX | Rewards | Mobile | Gamification | Omnichannel | VOC
LATEST OPINIONS from our editors

Achieving customer satisfaction has never been more complicated -- with so many generations of customers (Boomers and Gen X, Y and Z).  Throw in a multitude of communications platforms and the problem gets even more complex.

  © 2010-2017 Ideal Path. All rights reserved.