Post on 23-Jan-2018
2016THE YEAR OF THE CUSTOMER
Don’t just Satisfy,Delight!
According to the Chinese Calendar, 2016 is the Year of the Monkey. But to most companies around the world today, it will be the Year of the Customer.
A year where Brand Competition would no longer be primarily focused on price or product features; rather, it’s going to be about providing a high quality and superior Customer Experience.
Don’t just Satisfy,Delight!
By 2016, 89% of Companies expect to compete mostly on the basis of Customer Experience, versus 36% four years ago. (Gartner)
2012 2016
Chart Title36% 89%
Don’t just Satisfy,Delight!
• Companies are beginning to realize the ROI of creating a memorable Customer Experience.
• Brands like Netflix, Amazon and Zappos are constantly rewriting benchmarks, forcing other brands in their respective verticals to step up their game, reassess their strategies and priorities.
Don’t just Satisfy,Delight!
93% of Corporate Leaderships place Customer Experience Improvement on their list of Strategic Priorities. (Forrester Research)
Don’t just Satisfy,Delight!
• CMOs, CEOs, CX heads and even CIOs are having to adapt to the dynamic nature of consumer buying patterns through technology and other digital enhancements.
• Customer Experience improvements are being discussed rigorously in board meetings. Clear cut strategies are initiated from the top most level, so that they can have strong organization-wide impact.
Don’t just Satisfy,Delight!
By 2020, Customer Experience is expected to overtake both Price and Product when it comes to differentiating a Brand. (Biz Report)
Customer Experience
Product
Price
Don’t just Satisfy,Delight!
• Some 10 years back, price and product literally ruled the market. In many ways, the cheapest product sold the most and brands could even get away with a mediocre customer experience.
• This is no longer the case today as customer experience is the biggest differentiator in the market. Customers have started paying a lot more attention to brand experienceand how it influences their emotions.
Don’t just Satisfy,Delight!
By 2017, 50% of Consumer Product Investments will be redirected to Customer Experience Innovations. (Gartner)
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
BY 2017
50%
Customer Experience Innovations
Don’t just Satisfy,Delight!
• Brands are indeed prepared to walk the talk, with big money investments into enhancing the overall customer experience.
• 10 years ago, any expenditure for customer experience improvements would have been seen with a lot of scepticism. Not anymore. Not today!
Don’t just Satisfy,Delight!
Don’t just Satisfy,Delight!
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