"Thought Provoking Consulting. There is, he says, "serious oversupply" in the retail market — too many businesses vying for our custom — and, as recent retail collapses have demonstrated, not enough consumer spending to sustain them all. Yet separate ICS data shows that over 30 per cent of people would pay more for a product or service if they received exceptional customer care.
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The best service I have received on the high street is from Hobbs. It's one of the few shops where sales staff have the confidence to say, "That style doesn't suit you as well as this one." How ironic that telling me not to buy something is the reason I keep going back.
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Based on data it has collected between 2017 and 2023, firms with customer-satisfaction scores at least one point higher than their sector average achieved average compound revenue growth of 7.4 per cent. This compared to flat revenue growth for firms with average satisfaction scores at least one point below average. The impact was even greater on EBITDA (earnings before interest, taxes, depreciation and amortisation — a measure of profits), which averaged just over 20 per cent at the leading firms — twice the rate of those with below-average scores.
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As I think back to the origins of service culture, to the close relationship between the customer spending money and the independent shopkeeper who has hit on a formula that keeps people coming back to spend more, I wonder, "How hard can it be?"
Bosses cannot and should not rely on technology or statistics to do the job of telling them about the customer experience. [Moi ici: Eheheheh! O tema do Big Data aqui no blogue] They should regularly be "on the shop floor" (or in the contact centre or with the tech team) listening to staff and customers, asking questions and understanding precisely where they're able to delight us, and frustrate us. In an online world, the need to make these human connections becomes more vital.
With years of high inflation forcing consumers to buy less stuff, getting value for money has never been more important. But this does not mean a race to the bottom with pricing. A third of customers say they will pay more for better service."
Recordar: Cuidado ao tirar os humanos da equação
Trechos retirados de "How did customer service get so bad?"
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