It isn’t just Donald Trump that mixes tidbits of fact with much fiction to appeal to those eager to believe. This is also the case when it comes to the business world. Especially so when we get to customer-centricity, customer experience, customer loyalty….. Whilst some folks can tell that Trump is talking nonsense, in the Customer arena it is that much harder to separate fact from fiction, and useful advice from nonsense. So, today, let’s take a fresh look at customer retention and loyalty.
We've all seen the reports and the studies and the statistics that "customer experience is the next... battlefield, competitive battleground, competitive advantage, competitive frontier, marketing, ___ [fill in the blank]."
There are many popular stories about product companies like IBM and GE transitioning successfully to service-based sales. And while there are also stories of the occasional failure such as Boeing’s offer of financial services, the conventional wisdom is increasingly that all product firms should transition from dependence on product sales to selling value-added services. But is this valid?
A few days ago a flight attendant of a Russian low-cost airline “Pobeda” had the police take into custody a young family of 3, who had refused to follow the airline rules on board. The baby was crying non-stop, the parents spotted an empty row of upgrade-only seats and decided to move there, despite the demands of the flight attendant, who pointed out that the passengers had to either pay for the upgrade, or return to their original non-upgrade seats in different locations of the plane.
After nearly seven years writing this blog, I’ve decided to start work on a book about innovation. While there is certainly no shortage of great innovation books on the market, I feel strongly that the time has come for a different approach and I think there is much I can add to the discussion.