Achieving Competitive Advantage by Understanding the Customer Experience

Retail Digital

October 22, 2013

Retail Digital Innovating Analytics News | Achieving competitive advantage by understanding the customer experience

There has been a dramatic shift in the relationship between companies and customers.  Customers today have vast amounts of information at their disposal, they can switch from one product and service to another with incredible ease, and they can broadcast their pleasure or unhappiness to thousands if not millions of others.  Where consumers have freedom of choice, the companies they are loyal to will be determined by how satisfied they are with the customer experience.

In such a world, how does a CEO, manager, or entrepreneur begin to sort out what defines and drives a good customer experience and how it can be measured and made actionable?  Every smart company and every smart manager knows that an excellent customer experience always has been and should be a business goal. But without a concrete metric, customer experience efforts in the past were often nonspecific and lacking in meaning and direction.

The starting point is understanding that customer satisfaction is the right measurement system to gauge the customer experience. In other words, properly measuring satisfaction with the customer experience can actually predict the future of a business and help companies decide where to focus their improvement efforts in order to optimize their investments and maximize their returns. . .  Read the full article »