“De-risking
Risk” - D.E. Nash
Running a small
business is a risky business. The probability of a small business
lasting for more than five years is about 15% according to Doug Hall,
author of “Jump Start Your Business Brain”. But there are
tactics and strategies that, when diligently implemented, will
substantially increase your odds of success.
Perhaps the best
way to increase the odds of success is by providing your customers with a
unique customer experience that will dramatically differentiate your
company from the competition. This alone, according to Hall, will
increase your probability of success to 53%.
Bernd H. Schmitt
author of “Managing the Customer Experience” says, “In a recent
survey, customer experience was identified as the single most
important differentiator between the best and the worst in an industry.”
The customer
experience movement was led by major corporations such as Disney, Bass
Pro Shops, Southwest Airlines, Zappos.com, Amazon.com, Nordstrom and many
other creative businesses. But in reality, it’s the small business
community that can more quickly exceed the needs of consumers.
As a small
business owner, you know that you cannot outspend the competition, but
you can certainly outthink them…and, that’s all it takes to create a
memorable experience that turns your customers into your sales
force.
How do you get
started? Bring together a handful of your best customers, a couple
of suppliers, a few business owners from other industries and, of course,
your employees. Provide them with pizza and beer and you now have the
makings of a fun-filled brainstorming session. Then ask them to help
you answer one simple question, “What can we do to add value to our
customer relationships by providing them with an unforgettable experience
every time we have contact?”
The answers to
this question will bring measurable results as discovered in these recent
surveys:
· 80% of Americans
agree that smaller companies place a greater emphasis on customer service
than large businesses. (Source: American Express Survey)
· 3 in 5 Americans would try a new brand
or company for a better service experience. (Source: White House
Office of Consumer Affairs)
· Almost 9 out of
10 U.S. consumers
say they would pay more to ensure a superior customer experience (Source:
Customer Experience Impact Report by Harris Interactive/RightNow)
· 7 in 10
Americans said they were willing to spend more with companies they
believe provide excellent customer service. (Source: American Express
Survey)
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