Forget Everything You Know About Bricks and Clicks

Forget-Everything-About
If they look just at the customer experiences of their best competitors, executives may very well chase the wrong benchmarks.The next breakthrough CX is likely to come from outside their industry.

Tech startup Uber made getting cab rides easy, disrupting the taxi business. Apple reinvented CX in the cell phone and retail sectors. Netflix, founded by software engineers, blew up the traditional video rental store experience first by sending videos through the mail, and later by streaming them online.

So how do executives break out of their industry pack and totally rethink the customer experience? The key is focusing on the outcomes that customers desire in doing business with you.

We have found four basic truths about the outcomes that customers want:

1) Not all customers want the same experience but they might want similar outcomes.
In the airline business, Ryanair’s customers, for example, want a low fare, while Singapore Airlines’ customers seek premium services.

2) Customers want to acquire products and services as efficiently as possible.
Amazon is investing in drones and AI to make its package delivery process even more efficient than those of the overnight package delivery companies.

3) Customers only do business with bricks-and-mortar companies if those companies offer a unique, value-laden CX. Outdoor clothing retailer REI keeps adding adventure to its in-store experience with features such as rock climbing walls – features that cannot be replicated online.

4) Customers expect the CX to improve continuously. To do that, companies must be able to recognize what customers purchased previously and then respond with valuable insights, support and new offerings based on those transaction histories.

To learn how to go beyond the CX best practices in your industry, download David Nelson and Jim Walb’s article Forget Everything You Know About Bricks and Clicks.

Authors
Dave NelsonDave Nelson is a Business and Consulting leader driving tangible transformation of organizations through a pragmatic balance of technology, process improvement, organizational change management and realistic expectations.
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Jim WalbJim Walb is Managing Partner for Banking, Financial Services NA in Consulting and Services Integration covering visioning, strategy, business transformation, technology platforms, architecture, and offshoring/outsourcing. Jim's specialties include: Asset Mgt, Investment Mgt, Wealth Mgt, Capital Mkts, Commercial Banking, Retail Banking, Investment Banking, Cards & Payments, Innovation Management and Business Analytics.
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