A new survey reveals:
Customer experience will overtake the product and pricing as a key brand differentiator. ( I am not saying so to promote my book on Customer Experience in times of social media “The Bread is moving”. Check the source of the survey here.)
Many enterprises are either not yet aware about the customer experience or they have other priorities than working on to create a customer experience focused organisation.
But a few statistics will awake the decision makers and people responsible for P & L A/C.
10. Customer Experience leaders outperformed the broader market, generating a total return that was 35 points higher than the S&P 500 Index. Laggards trailed far behind, posting a total return that was 45 points lower than that of the broader market offering a better customer experience ~ Watermark Consulting
What is considered premium today will become a basic norm by 2020. Yes, smartphone-enabled social media will compel every enterprise to focus more on more on customer and experience the firm is creating for its customers.
Competition is just a click away. Good and bad review writing is just a click away. Why online reviews matter is made amply clear by the following survey.
According to the survey conducted by Dimensional Research, an overwhelming 90 percent of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86 percent said buying decisions were influenced by negative online reviews.
Welcome to the new economy, The Sharing Economy in which Customer Reviews are the new currency. & When customer reviews are the new currency one can imagine the importance of better Customer Experience. Yes, the new currency will be printed on the basis of customer experience. Customer Experience is the gold reserve based on which new currency will derive its strength.