Another absolutely great article, from McorpConsulting, on the value of great customer experience, and the huge cost of delivering poor customer dito.
- 90% of consument customers are ready to leave a supplier after a single poor customer experience
- 67% of B2B customers are similarly ready to leave after a single poor experience
- each such customer jumping ship to competition, will tell about his experiences and decision to jump ship to 10-15 peers.
Something to think about in our relentless pursuit of Shareholder Value and minimal cost of operations….
It’s a very observable fact that in most organisations in pursuit of shareholder value, customer service, customer experience and ultimately, customer value takes a backseat – it’s hard to provide a great customer experience when your business is fundamentally managed by bean counters with a strict focus on cost-of-business, since cost is the single factor most easy to control, and with immediately visible results for the short term financial bottom line.
Unfortunately for these companies, focusing solely on cost quarter after quarter eventually will lead to starvation, where the organisation no longer is capable of delivering any customer value, where product and service quality eventually suffers tremendously, and where risk taking, creativity, innovation capability and employee motivation and morale is driven to rock bottom.