In a world where every customer has a broadcast platform, failing to meet or exceed customer expectations can have significant repercussions.
On February 21, 2018, Snapchat lost $1.3 billion in market value in one day after Kylie Jenner tweeted her dissatisfaction with the app’s new layout. She just said: “Does anyone else not have Snapchat open anymore?” Or is it just me…hmm, that’s so sad. ” In 2016, U.S. companies $1.6 trillion in losses due to customer switching This is due to poor service.
real paradox
The path to customer science is full of contradictions. The organizational paradox is that if the “customer is king” then why isn’t there someone within the company with the authority to ensure that every interaction meets or exceeds expectations? Is this the role of the current trending chief customer officer? Chief experience officer?
Glenn Laverty, now retired and former president and CEO of Ricoh Canada, expertly explained this paradox of responsibility and authority. bind all employee compensation For customer experience/satisfaction indicators.
What will be measured and what will reward and encourage behavior? At Boeing, compensation standards for production throughput have been shown to take precedence over safety considerations. Customer science can inform the tailored and nuanced relationship between compensation and customer experience metrics for everyone.
Claes Fornell, founder of the American Customer Satisfaction Index and Donald C. Cook Professor Emeritus of Business Administration at the University of Michigan. Explaining the customer science data paradox. Organizations are collecting more information than ever before about their customers, but “paradoxically, the more data companies collect about their customers, the less they know about how to satisfy them.” This has to change.
