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Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)
 

50% Of UK shoppers stop buying after bad service

Most of today's business leaders feel that the next major battleground is the 'customer experience', despite fewer than one in ten consumers feeling that companies are doing a good job, according to UK-based customer experience consultancy Sidona Group.

When the company compiled the latest market figures and research data in order to better understand how improvements in customer service could lead to a competitive advantage, it found that 85% of business leaders say that the customer experience is likely to be their next competitive battleground.

However, while 80% of business leaders believe their companies are currently doing a good job in the way they treat customers, only 8% of consumers agree with that statement.

This amounts to poor customer services which are estimated to cost the UK economy some 14 billion a year.

Perhaps not surprisingly, more than 50% of customers say they give up buying as a result of poor customer service.

Derek Blackburn, managing director for Sidona Group, noted: "While most companies believe that price is the key competitive differentiator, we disagree that price should be the be-all and end-all of business strategy."

In fact, in a commoditised market, other key factors such as the customer experience (which includes good customer service) become the key differentiator, Blackburn argues.

Morale and consumer confidence drop significantly in times of recession, so inspiring confidence and building long lasting relationships with customers is absolutely crucial for success.

"While many businesses must take immediate decisions to ensure success in these tough times, it is vital to balance this with a longer term view of building a strong and loyal customer base," concluded Blackburn.


Sources: Sidona Group /
The Marketing Factbook.
Copyright © 2010 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Knowing The Customer
  • Marketing Know-How

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)
 
Copyright © 2001-2025 Peter J. Clark