For decades, companies have been promising to delight customers, while simultaneously disappointing them in nearly every channel. That tactic won't cut it anymore. Why not? We've entered a new era that Forrester calls the age of the customer -- a time when focus on the customer matters more than any other strategic imperative. In the age of the customer, companies find that:
- Commoditization has stripped away existing sources of differentiation. Competitive barriers of the past like manufacturing strength, distribution power, and information mastery can't save you today -- one by one, each of these corporate investments has been commoditized.
- Traditional industry boundaries have dissolved. Companies in every industry find themselves competing with new types of competitors -- automakers with services like Zipcar, newspapers with Google News, travel agents with Expedia, and the entire retail industry with eBay.
- Customers have more power than ever. With online reviews, social networks, and mobile web access, it's easy for your customers to know more about your products, services, competitors, and pricing than you -- and to share their opinions of your company with their friends.
Those are the global business trends. But what specific business benefits can companies expect to gain from customer experience investments? Every firm in every industry can leverage great customer experiences to:
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