Improving Your Customer’s Experience without increasing your costs:
4 Strategies for Improving Your Customer’s Experience Without Increasing Your Costs. Likewise much has been written recently about the requirement to focus today on the total customer experience. In this case as a competitive edge or even for survival.
Traditionally, you just worried about the quality of the sales transaction (price, speed, service). The “customer experience” now includes ease of pre-sale shopping, post-sale support, with a connected relationship throughout.
For the most part the challenge I hear especially from savvy business owners and entrepreneurs. To begin with operating on a shoestring is that providing a superior customer experience costs money.
They are rightfully looking for some new business models and improvements in operational efficiency. To provide them with a win-win connected strategy, where the customer becomes their advocate, while growth and profits soar.
Therefore, I had some ideas on how to do this. For example the insights to a connected strategy that were pulled together in a new book Connected Strategy; by Nicolaj Siggelkow and Christian Terwiesch. Professors at the Wharton School at the University of Pennsylvania.
They highlight several key pathways for turning customer transactions into connected relationships:
1. Recognize and respond quickly to customer desires.
In terms of the customer experience; Your challenge today is to minimize all friction from the moment a customer desires a product or service. To begin with to the moment they receive it.
Since you want that customer to be delighted by the overall experience. To sum up rather than remember the many steps and the pain.
As an example Amazon does this by being the “go-to” place for almost anything. Showing you options you like by knowing you and your past purchases. Quickly listing comparable items by price and features, allowing you to order with only one keystroke. And delivering the item to your door very quickly, potentially (in the future) even before you ordered it.
Uber and Lyft make hailing a ride an instant process. Which you can see and track with no effort, and pay for without struggling with your credit card or cash.
Alexa can order pizza or play your favorite song, just like an assistant, rather than a business transaction.
2. Delight customers with personally tailored options.
This business model recognizes that customers might not know exactly what they want. For the most part they may not know exactly where to go to get what they need.
Furthermore many, like me, would prefer that someone else do the shopping for them. Thereby and present them with the best choices currently available.
As an example Expedia and Travelocity; They do this by checking all the ways you can get from one city to another, with current prices. Including connections to rental cars and hotels when you get there.
Netflix suggests comedies based on your unique previous choices. Blue Apron will deliver you a meal-kit based on your interest in health, fun, or variety.
3. Provide useful prompting to prevent future pain.
Customers would be delighted to be coached on upcoming needs. Ultimately as time to reorder medication or printer ink, before the crisis. Coupled with the option of getting the solution with a single click.
This can save them grief, as well as reduce your own marketing and sales costs.
The latest Apple Watch utilizes this strategy by continually monitoring your heart rhythm. As well as other fitness indicators, with coaching to you on maintaining your health. This obviously helps Apple sell their watch at a premium, as well as assuring loyal customers.
4. Anticipate and meet customer needs not yet realized.
Automatic execution of business transactions in anticipation of a customer need is still not common. It’s easy to see the potential with the sensors on so many devices now being connected to the Internet (IoT). Soon your refrigerator may order more milk or bread when stock is low.
Amazon already has a patent to automatically ship you other items of interest. Generally without prompting, based on your prior order and usage patterns (returns are free and simple).
As an example the latest wave of medical alert sensors for seniors like Medical Alert. They will automatically call an ambulance for you after a fall without even pressing a button.
As a result of a key point you should take from these insights. For instance is that connections and relationships these days don’t necessarily require more people and cost to your business.
Current generations of customers are perfectly happy with virtual relationships. New low-cost learning technology is setting a new bar at predicting customer desires and needs.
Thus, with a connected strategy and smart software, you can indeed improve your customer’s experience. Wherefore reduce your costs at the same time. That’s a win-win we can all live with.
4 Strategies for Improving Your Customer’s Experience Without Increasing Your Costs.
This article is subject to copyright.Copyright notice: First published on inc.com 28th May 2019