Invest to win
Nowadays we are living in an experience economy. Whatever industry you are in the key to competitive advantage is the same. The experience you offer to your customers. Believe it or not your company is delivering customer experiences as you read this article.
Do you know if they are good or bad? Are you able to listen to and understand your customers? Are you able to manage their experiences? Throughout history those companies who have truly succeeded have been able to offer unique customer experiences.
The hardest thing for competitors to copy is the customer experience you create. And engaged employees are the most dynamic and influential force in creating superior customer experiences.
Companies that have increased their customer experience investment in the past three years, compared to those that have decreased their investment, report satisfaction scores that are 60% higher. And they are 30% more likely to have attrition rates of 5% or less. These improvements in customer retention spur company growth and likewise boost the bottom line.