Improving Customer Experiences: Is It Still Important Or Is Price The Only Thing That Matters


Has the economic downturn minimized the importance of the Customer Experience?

In Chapter 5 of my book, Strategy Activation: How to Turn Your Vision into Marketplace Success, I talk about how important it is to improve your holistic customer experience to differentiate your company from your competitors. As products and services continue down the inexorable path toward commodification, it is the ongoing customer experience that drives customers to choose one vendor over another.

However, in the past two years, as the economic downturn has forced significant changes in customer behavior, many have questioned the importance of the overarching customer experience. These naysayers claim that in tough times price is the only thing that matters. Customers, they say, are more likely to accept a bad experience as long as they are getting a good deal. This perspective, however, is not confirmed by the data.

When Money is Tight, Customers Expect an Even Greater Customer Experience...

The most recent Harris Interactive Customer Experience Impact Report surveyed consumers on how they engage with companies both online and via phone, what they find frustrating, and how negative and positive customer experiences affect them.

They discovered these facts that are startling to most business owners today...

So, it's clear that even when finances are tight, people still value good service.

Why This Study's Results Are Not Surprising To Me...

When money is easy to come by customers are likely to be more forgiving. Consider this restaurant dining example...

When the economy was booming many couples found themselves dining out twice per week or more. With eight to ten dining-out occasions per month a single bad experience is easily forgotten. However, when belts tighten, monthly dining-out occasions may settle back to just two or three. With fewer opportunities to "splurge" on an evening out couples and families now demand that each experience justifies the expenditure of limited funds. Thus a bad experience like poor service, long wait times and cold food makes a bigger impression and stays with us longer.

Once you have a bad customer experience, you may wait months before you visit that restaurant again - and that's if you ever go back. Plus, you'll probably tell your family and friends about your experience. This will make them think twice before they visit that restaurant.

Real Proof That Bad Customer Experience News Travels Far...

A recently published Forrester Research report, "How Customer Experience Drives Word of Mouth" cites:

So, don't you think that you should find out right now exactly what your customers are saying about your organization's performance over the past eighteen months? Have their experiences diminished in the wake of corporate austerity? As we begin to see the recession bottom out, now is the time to explore this issue; to find new ways to improve the customer experience; to ensure that your customers have only good things to say!

About the Author:

Strategy Execution Consultant Scott Glatstein, President of Imperatives LLC turns market opportunities into record breaking profits even in a recession. Now, with his new book, "Strategy Activation: How to Turn Your Vision into Marketplace Success," Scott unveils his groundbreaking plan for improved customer experiences and higher strategic profits. Get your FREE Sneak Preview at: http://www.strategyactivation.com

Legal Disclaimer

Our website is not responsible for the information contained by this article. Webworldarticles.com is a free articles resource thus practically any visitor can submit an article. However if you notice any copyrighted material, please contact us and we will remove the article(s) in discussion right away.


This article was sent to us by: Scott Glatstein at 11232009

Related Articles

1. Elements of CRM
CRM has grown into a dense and tangled field, and many vendors that provide only a small piece of the puzzle call themselves CRM vendors, making it difficult to sift th...

2. Why Does CRM Fail So Often
It's become almost fashionable to talk about the high failure rate of CRM projects. For instance, an often-cited Gartner study from late 2001 clai...

3. Does CRM Deliver Applications or a Tool Kit
While tool vendors promise complete solutions, they sometimes deliver no more than a tool kit to create a complete solution. And customers want both the convenience of ...

4. Customer Revolution in India
We in India very well know what Customer Satisfaction or actually Customer Dissatisfaction means. We have to bear all kinds of treatment from all big and small businesses,...

5. Industry Concerns for the Assessment Site
An issue of major importance is the industry in which the customer organization conducts its business. The amount of legislation, regulation, and industry-related p...

6. Providing Top Notch Customer Service
If you are involved in either the retail or service industries, you will, at one point or another, be called upon or left to deal with customer complaints. Dealing with ...

7. How to Build Customer Loyalty
As rocketing gas prices and food costs increase, consumer spending is down. If people aren’t spending as much on your products or services as they used to, you can&...

8. Take a Look into Your Customer's Mind
Why exactly do certain advertisements appeal to certain people? The most obvious solution would be a matter of interests. Men who enjoy home improvement will be d...

9. Customer Relationship Management Software
Customer Interaction and improving the relationship with all existing, new, and prospective customers is very important for every organization. With continuous growth of ...