In competitive markets, customer service is often the most important differentiator. This is especially true if companies are selling similar products, at similar prices – and for service businesses such as utilities and financial services where there is no physical product to create a differentiation. When customer service is the main source of competitive advantage, it’s essential to...
The rise of the millennial generation (those born between the 1980s and 2000) is being felt around the world. As the spending power of millennials (also known as Generation Y) grows, companies are having to evolve in order to meet their particular needs. This is particularly true in Asia Pacific – by 2020 the region will be home to 60% of the world’s millennial population...
When customer service first rose to prominence within organisations it was straightforward to define. It was a physical department, normally including a call centre, that dealt with all incoming customer communications (mainly via telephone and letter), and provided help and support. As the number of channels used by customers began to expand, the web, email...
Over the last ten years, customers have become increasingly more demanding in terms of the service that they expect from companies. At the same time, and as part of the same trend, governments have acted to make it easier and more straightforward to complain, particularly in industries such as telecoms, utilities and finance. They have set up new regulators and ombudsmen...
Across the globe, companies are under increasing pressure to deliver a superior customer experience if they want to win and retain consumer loyalty. This is especially true in Asia-Pacific, with customers demanding better and faster service, across more and more channels, than ever before. Customer experience links directly to sales – according to Frost & Sullivan, over 6 in 10 consumers...
In a fast-moving and ultra-competitive market such as retail, companies are continually looking to differentiate themselves from rivals. To achieve this they are increasingly embarking on digital transformation programs, moving to a multichannel approach that is more efficient and flexible, while delivering a better customer experience...
Twenty years ago, the majority of banking was carried out face-to-face through an extensive branch network and most consumers remained with the same bank for much of their lives.Three factors have dramatically changed this. Firstly, new channels such as the internet have transformed how consumers interact with their banks, while increasing the range of services that they can carry out themsel...
Being able to deliver a superior customer experience can potentially transform your company’s business. It can help to differentiate you from competitors, increase customer loyalty and ultimately help to drive sales and boost revenues. So how do you go from being a customer service laggard to achieving a leadership position – and then ensuring you remain there?
In a sector where it can be difficult to differentiate between suppliers, delivering superior customer service is increasingly vital for utilities. And as a regulated industry, it is closely watched by government and consumer groups, facing large fines for poor customer service and misselling. Last year the UK government acted to simplify tariffs and make it easier for customers to switch...
Today, all organizations understand the importance of improving the customer experience they provide if they want to succeed in winning business and increasing loyalty. The customer experience should be improved constantly, otherwise even once leading companies will simply fall behind their competitors and customers will move elsewhere.Companies require an effective management process to...