(PR.co.nz) Bell said he has been asked a number of times by different organisations what they can work on in their business that will deliver growth and profitability this year. He has come up with five areas.
“Unfortunately business is still looking for the quick fix” this short term thinking must change if organisations are going to make real and lasting progress.
The Five Areas
1) Unless there is concerted effort to build genuine relationships with your customers, loyalty will continue to decline and marketing costs will increase. Your customers have an abundance of choice and choice in today’s market is power.
2) The internet will continue to play an increasingly powerful role in commerce. However the quality of the e-commerce customer experience will be just as important as all other experiences with an organisation.
3) The growth of customer word of mouth recommendations via websites and social media will become even more powerful. As a result, word of mouth recommendation will play a major part in a company’s growth or demise.
4) Employee disengagement will continue to increase in this country. It is already at a very high rate and is severely impacting our productivity and the quality of customer experiences. Placing your people as your number priority will arrest this damaging trend.
5) Creativity especially with the rapid development of technology will be the new competitive advantage. Creating a culture of creativity and capitalising on ideas at speed will keep an organisation ahead of its competitors.
Bell said that if any motivation is required to work on these five areas of a business there can be no better than the fact that the majority of organisations are not. This is because either they don’t understand the positive impact they well have or they lack the knowledge and expertise.
According to Bell there are other benefits that flow from a focus on these areas including a reduction in marketing costs, lower employee turnover, the ability to attract the right people and the major benefit in a commoditised market, a sustainable competitive advantage.
Media Release 7 March 2011 from Customer Experiences Ltd.