Quick! What’s most important to customers: Convenience? Value? Service? You’d be correct if you answered “all of the above,”—but only partially…
It used to be if you met those three customer expectations, they’d be satisfied, and your business would be doing OK. But things are a lot more complex than that now, and they are constantly changing. We’d all agree that customers today are in the driver’s seat. But, what are they driving? Where are they going? What does it take for them to allow us (our business) to come along on their journeys?
Even though Americans are known for their love of great bargains, startupnation.com cautions against focusing too much on price. In fact, it says, a four-year study of over 100,000 small business and retail customers nationwide conducted by a market intelligence firm, BIGresearch, found not only that service trumps price for most customers, but also that the majority are willing to inconvenience themselves (as in driving miles out of their way) for the right combination of price, quality and customer service.
The site offers a list of what it proposes will keep your customers satisfied:
- Knowledgeable and available staff
- Friendly people
- Good value
- Convenience
- A fast finish (where many businesses fall flat)
But business owners are finding out that providing great customer experiences just isn’t enough. Keeping customers happy and coming back means understanding and responding to a dynamic mix of needs and wants, expectations and demands.
“Changing Customer Expectations,” a presentation by Alterian CEO David Eldridge at a customer-centricity conference, makes the case for the new tools that must be front and center in your toolbox. At the core of your strategy must be building customer engagement, trust and empowerment through technology, active listening on social media channels and an ongoing, dynamic dialogue with customers. Be sure to check out the presentation here.
And it helps to understand what’s behind your customers’ expectations and demands. In its AMA Playbook, the American Management Association draws from the book High-Tech, High-Touch Customer Service for six trends that are changing customer expectations:
- Instant gratification
- A shift to values-based buying
- “Green” values and concerns
- A search for timelessness
- Empowerment
- Self-service preferences
How do you keep up? In a word, technology, because technology enables you to anticipate, customize and suggest choices to customers based on their behaviors and stated preferences. But here’s a caveat: This doesn’t mean referring a customer who calls in to your website, for example. “Choice,” the author stresses, means that customers choose, and you respect their decisions—every time, all the time.
Don’t make the mistake of assuming that changing expectations are gradual, or that your online strategy should mirror your offline one without significant retooling, says loyalty-ip.com, customer specialists who consult with businesses. Keep your customers front and center, regardless.
Be sure to read how the company considered the gold standard in understanding and exceeding customer expectations does it in How Nordstrom Sees Customers’ Changing Expectations. Sure, Nordstrom’s a big company but one that always has relevant lessons for all of us.
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