McKinsey on maintaining the customer experience
The McKinsey Quarterly just published a new article on cxp — Maintaining the customer experience with some interesting points (quotes) on the question “How can consumer businesses make necessary investments in service while facing the pressure on revenues and costs?”
- Our review of the companies with the best customer service records in ten industries suggests that one key is to minimize wasteful spending while learning to invest in the drivers of satisfaction.
- In short, these companies have carefully measured the “breakpoints” to find their customers’ true sensitivity to service level changes.
- Finding these savings requires rigor in customer experience analytics: the collection of customer-level data, matching survey responses to actual behavior, and statistical analysis that differentiates to the extent possible between correlation and causation.
- It also requires a willingness to question long-held internal beliefs reinforced through repetition by upper management. Many will discover that long-held but seldom-reviewed assertions about what customers really want are wrong. The executive in charge of the customer experience needs to have the courage to raise these questions.
