In the digital age, one thing is clear: the power of the customer will continue to increase. To win and keep customers in the face of fast-changing customer requirements, companies must continue to adapt their value propositions (the combination of your quality, service, and price). Excellent service is no longer enough to guarantee loyalty, nor is excellent quality, nor low price. Instead, it's the right combination of these three factors that provide "best total solution" value that the customer will opt for.
Today's customers value time above almost all else. Whether end customers or channel partners, they want it "right now" and will not accept delays. Those businesses that provide "real-time" solutions will prevail over those that are unable or unwilling to rethink and innovate new time-compressing solutions.
Real-time is the act of reducing or eliminating the float between the customer's request for satisfaction, and the completion of that request.
Real Time: Six Action Steps
It's no longer enough to push products and services on customers. Today, you must become your customer's consultant, problem-solver, trusted advisor, and partner. Make it a point to learn more about your customer's customer, about how they use your products and services, and look for ways to ingrain yourself in your customers' life in ways that increase loyalty and allow you to charge a premium price.
Three Action Steps
Making your customer's life easier really means providing "no-hassle" convenience in every interaction. In this arena, the best never rest. Unless you're introducing new forms of convenience all the time, you're probably becoming less convenient to customers, because of convenience.
Four Strategies for Making the Customer's Life Easier
Empowerment means enabling, encouraging and guiding your customer to embrace opportunities and solve problems. The value-adding company understands that tremendous value is added each time the customer receives actionable knowledge. The challenge, of course, is then getting the customer to pay extra for that knowledge transfer, either at the price of the product itself or in service delivery.
Four Tips for Empowering the Customer with Knowledge
"Have it your way" is one of the most influential trends in business today. One size does not serve all. Mass customization is designing and delivering products, services, and solutions to meet the unique needs of each customer. Customers are willing to pay more when they understand and accept that they have special or unique needs and requirements.
Three Ways of Profiting from the Customization Trend
The biggest challenge facing businesses today is creating a culture where employees are motivated to create value for customers every day. And if they are not serving a customer, they'd better be serving someone who is!
Four Ways You'll Prosper from Company Values
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