9. Today’s Business Challenges
• Declining Product
Revenues and Margins
•Rapid Commoditisation
• Not Meeting Customer
Expectations
• The Experience is the
Value
9
11. Relational brand values are the strongest
differentiators
Thought leader
Understands my
Relationship business
Values Demonstrates
Flexibility
Responsiveness Price
Service Customer
Reliability Time
Values Sacrifices
Competence Conflict
Quality
Product
Customization
Values
Alternatives
Source: La Piere 2000 11
Strategy workshopsCustomer research and feedback solutionsManagement training, like service leadership, service development, service sales, Workforce training like trusted advisor
Altough services are not simple to deliver, the value perceived by the customer on simple product-related services is limited. Tangibles are hard to measure especially in the B2B environment. Intagibles are together the total experience.
Tell example of very advanced and mature company, long practice of measuring satisfaction, loyalty of customers and employees.Discovered high correlation. Predict decrease in revenu from dip in employee satifaction.But had no clue in how to increase revenu or why at some point customers were leaving.
Transactional satisfaction or and loyalty surveysPeriodical surveys loyalty surveysCustomer research surveysInterviews – often questionnaire basedConversations between client and employees (sales – service)
Companies think they do a got job, have high NPS-scores, but their customers don’t think the same.
Research from the VU turned out that there is no relation between NPS and repurchase. There is no correlation between satisfaction and repurchase.
Circumstancial:Mood, unstableSituation (buying, choices, alternatives, social pressure)Pain / pleasure, experiencing self versus remembering selfSet up research20/80DMUExternal referencesQuestions being askedInterviewer
Example of Having transactional customer feedback as platform to express unsatisfaction. Only 2% of clients were invited to conduct survey. And have long survey
Message: Before starting a customer research, define purpose! What is it that you are trying to achieve? You need to define, methods tools and process and you need to test and refine them, then capture the data and analyse the data, still an ongoing process.
Exampl
Summary:Insight in changing business challenges, leading to changing expectations and need for customer insightChallenges for gaining customer insights from feedback and researchPresented a few examples of advanced techniques to overcome the challenges and help getting ahead of the pack