The best way to hold onto your clients or customers is to please them.
And the best way to please clients or customers is to give them NOT their money’s worth, but more than their money’s worth.
Can data help you do this?
The following report, commissioned by Deloitte, shows how data can help you win at CX. But it also shows many of the problems data throws up.
Below I've highlighted 2 problems the report mentions. I’ve added my suggestions on how I think you can overcome them.
But if the full report's too heavy, here's a 2 page overview from Deloitte.
One of the problems the report mentions is:
“Customer expectations have risen, and their demands span industries. Customers no longer compare their experience with an organization just against competitors, but instead compare to experiences with every other organization overall, regardless of industry.”
So what could companies try?
What about changing the game and bringing in your rules.
E.g Dominoes made terrible pizza when they launched. So they changed the game to - delivering pizza in 30 minutes or it's free. The result, an empire was built even though the pizza was bad.
So why not try doing something for customers that competitors are not doing:
All calls answered within 30 seconds or you get a £50 voucher. Your item will be delivered in this time slot or the item is free. Give all staff the ability to reward customers as a surprise.
The options are only limited by your imagination.
Another problem the report mentions is:
“Companies agree that their customers’ top concern is data privacy, but customers also seek omnichannel interactions and personalized information.
Companies of all maturity levels recognize that these are priorities, but they are currently struggling to meet these demands as only one in four companies (25%) has omnichannel campaign history and uses it very effectively.”
So what could companies try?
What if they tried to treat customers like friends first.
The truth is, you can know everything there is to know about a customer.
But if they don’t like your company, if they don’t trust your company, if you’ve screwed up in some way – like a scorned lover they’ll leave you.
Before worrying about how to personalise – First provide a good service. Then to build trust, stay in regular contact and do nice things for them. And if they ever have a problem help them fix it.
Get this basic stuff nailed first and customers will be happy.
Now let's stop here for a second and think about all of this...
... Do you need much data to try any of these solutions?
I don't think so.
In fact, I think companies are making life more difficult than it needs to be. They’re forgetting people are people and not pieces of data.
Yes times have changed... But human nature has not:
Someone buys something from you. You treat them with respect by providing a good service. You build a relationship of trust with them by doing nice things for them. You help them if a problem arises. You treat them as if they were a friend. The result, they stay loyal and buy more from you.
So let me ask you - how much data do you really need to win at CX?