In another example of where every customer interaction is a moment of truth, if a company makes it easy for a customer to leave then the customer may come back in time. Make it difficult, and the customer may never return.
See http://bit.ly/7ixuK
Where there is so much competition around, you have to earn a customer's loyalty and that means providing "great products at the right price and backing it up with great service". Shouldn't all customers deserve this quality, not just new customers but even customers that have already been loyal. If it really is better to save an existing customer than to find a new one, why do companies not look after their loyal customers better? Is it because they have already given enough of their money that they have already become profitable? Is it because companies have customer acquisition strategies in place but do not have similar strategies in place to keep customers?
In another example of where every customer interaction is a moment of truth, if a company makes it easy for a customer to leave then the customer may come back in time. Make it difficult, and the customer may never return. See http://bit.ly/7ixuK
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Here is a great blog post from The Process Ninja about Fantastic Furniture. This post highlights the importance of process and what can happen when processes are not in place. This classic example highlights how every customer interaction is a Moment of Truth and every MOT creates work.
See http://bit.ly/TlN1Q Here is a great example of how looking outside in, delivering upon successful customer outcomes can provide long term business success. The comparison is made over a decade and makes for an interesting comparison. So does Outside-In really make a difference?
See http://bit.ly/gw5fC A very relevant article on the importance of knowing who the customer is and delivering to the customers expectation in the public service. Unfortunately this ideology appears to be lost to both the Australian federal government and NSW state government at the moment. So the question has to be asked, isn't the sole purpose of the government supposed to be to look after the will of the people?
http://bit.ly/IdoQr Last month, British Airways posted a record annual loss of £400 million (US$656 million). Here is what contributed to this record loss:
The company has made a switch in strategy, trying to tempt passengers with lower fares, sacrificing profit per seat for "bums on seats." This idea is not new and comes from the budget airlines such as EasyJet, who know their customers and what they want. See http://bit.ly/pnQTr. Interestingly that it should take a crisis such as this to force the company to provide its customers cheaper seats when this has been going on for some time now. See here for the details of the crisis http://bit.ly/P90Nk This strategy is unlikely to help significantly because the company is still looking at things from the inside out and it would take a complete re-evaluation of the company's focus, looking at things from outside in, to dig it out of this hole. The combination of the latest results from the fourth annual BrandZ Top 100 Most Valuable Global Brands from Millward Brown Optimor, with the list of established BPM companies makes interesting reading:
- 7 of the top 15 companies are outside-in, with all producing positive yearly results - 4 of the top 15 companies are inside out, with all producing negative yearly results See here for full details: http://bit.ly/3NgBj |