Why we shop where we do

Some time back I posted a simple little survey on my blog site that asked "Why do you shop, or otherwise do business where you do?"

Many thanks to the more than 50 of you who participated! At long last I figured out how to crunch the numbers in Excel and am finally posting the results.

As you may recall, the survey was broken into 4 broad product categories as follows:


Groceries - food items, beverages, detergents, paper products, etc.

Major Items - cars, major appliances, furniture, computer equipment, etc.

Financial Services - loans, deposits, credit cards, insurance, investments, etc.

Small Items - clothing, linens, cosmetics, small appliances, hardware, etc.

Here is what you collectively had to say about why you shop where you do:

So what does all this tell us?

While I'll let you draw your own conclusions, I found it interesting that in every area but financial services product and selection is the major customer driver by a rather wide margin. I was encouraged by the fact that overall, customer service finished second, but surprised by how little it factored in our decisions related to where we shop for groceries, especially as this something we do so often.

I was also taken back by how rewards (loyalty cards and the like) would seem to have little or no impact on our shopping behaviour, which given how much the administration of such programs must add to the cost of goods sold, does cause one to wonder why bother?

Perhaps the most profound finding of all was just how much customer service factors in our decision as per where to buy financial products. This is something I'm not convinced most financial institutions fully appreciate. Go figure!

To comment, or read the comments on this blog click on 'comments' beside the little envelope below. To read previous articles (this is #29), see the Blog Archive (lower right) and to become a Wavemaker Blogs follower, click on 'Follow' (just above Archive).

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If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com

Naughty or Nice?

It's that time of year again. While we're all busy decking the halls, trimming the tree and frantically rushing about in search of that last 'must have' gift; Santa is up at the Pole checking his list... looking to see who's been naughty or nice.

There has been a lot of talk in the business world of late about who has been naughty, but precious little about who has been nice. It seems over the last year or two, many a company have lost their way and should not be at all surprised to discover a lump of coal in their stockings hung by the chimney with care.

As some of you know, I teach a communications course for accounting students that touches on business ethics - go figure? And wouldn't you know it; this seems to be one of their favorite topics - again, go figure?

During a recent class discussion on ethical communication, service and reporting practices, one of the brighter lights (they're all pretty bright) asked "What do we really mean by business ethics? It all seems a bit ambiguous to me. Is there a single, simple definition that will help guide us on our way?"

Obviously, this young lady did not want to find coal in her stocking.

Unfortunately, I was 'momentarily' stumped by the question, but fortunately, another of the bright lights kindly bailed me out. He had recently been reading 'Think and Grow Rich' by Napoleon Hill and pointed out that in chapter three, Napoleon suggests we should:

"engage in no transaction which does not benefit all whom it affects”

By my way of thinking, when it comes to a single guiding principle for ethical business practice, that just about says it all!

For some, it may be too late to influence Santa's assessment of this year's performance, but soon a whole new year will begin and if we are hoping for a full stocking next Christmas, perhaps we would all be well advised to be guided by these simple words.

Merry Christmas to all... and to all, a 'good' life!

Jim

To comment, or read the comments on this blog click on 'comments' beside the little envelope below. To read previous articles (this is #22), see the Blog Archive (lower right) and to become a Wavemaker Blogs follower, click on 'Follow' (just above Archive).

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If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com

...and what do you do?

Have you ever been at a dinner party, reception, or other form of social gathering where someone asked “...and what do you do?”


How did you respond? Did you seize the opportunity to make a positive and lasting impression, or did you simply say something along the lines of “I work for...” (yawn)

If, like most people, you answered with something short of an upbeat and engaging response, I’m afraid you not only shortchanged yourself, but also the individual who asked the question, as well as your colleagues, and perhaps even the company you work for.

“How is that?” you ask. Let’s start with the person who posed the question in the first place. By asking what you do, he or she was expressing interest in you. Personally, I think that’s kind of nice. Did you respond in a way that thanked and rewarded them for their interest?

And what about your colleagues and the company you work for? How might a cursory response have let them down?

Well, like it or not, when you responded to that question, you were not only speaking for yourself, but also for your company, colleagues and others in your profession. It is human nature to associate people, places and things. Consciously or subconsciously, we all do it. If your response was, shall we say, somewhat uninspiring, there’s a very good chance, on hearing it, the listener’s perception of the company you work for, and of others in your line of work, dropped a notch or two. Fair or not, it’s just the way the human mind works.

I suspect you’ve already figured out how you may have shortchanged yourself, so let’s leave the past behind us and focus on what you can do to ensure that the next time you’re asked, you don’t shortchange anyone. Maybe the following will help:

In the early days of my career, after stumbling to respond to this very question, my somewhat harsh, but fair mentor of the day took me aside and told me “When someone takes the time to take an interest in you, you owe it to them, to yourself and to the company, to be at least a little bit interesting. It is high time my boy, you prepared your elevator pitch.”

So what is an ‘elevator pitch’? It is sort of like your personal brand, followed by a byline or two. Perhaps I can best explain by way of the following examples:

Remember the story of the janitor at NASA, who, when asked what he did, proudly replied “I help put people in space” or better yet, the financial advisor who responded to the same question with, “I help people realize their hopes and dreams.” Both of these individuals went on to enthusiastically explain how what they did made a real and meaningful contribution to the people they served and the companies they work for; and you can bet their listeners were impressed.

Like theirs, your elevator pitch should consist of a few up-beat sentences that describe your work in terms that both engage and inform the listener; not to mention make you feel good about yourself and what you do. It’s called an ‘elevator pitch’ because it needs to be short - something you could easily deliver in the 15 - 20 seconds it would take to travel a few floors, but expandable (just in case you find yourself in a really tall building). The main thing to work on is the first line or two. Get that right and the rest will come naturally. Think about how you contribute to your customer’s success, enrich their lives, or help them achieve their dreams.

Over the years, I’ve modified my elevator spiel several times. Here is how it currently starts:

I'm the founder and senior consultant of Wavemaker Consulting. At Wavemaker we are committed to raising the bar on service quality by helping the companies we serve provide a customer experience that is second to none! I contribute by....

Everyone should have a pre-prepared elevator pitch. If you don’t, why not take a couple of minutes right now and develop one.

You never know when someone might ask “…and what do you do?”

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If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com

Doing What No One Else Does

There has been a lot said and written about the importance of consistency in the area of customer service. Often cited as a model of consistency is McDonald’s, who strive to ensure the customer experience (and the food) is exactly the same, wherever in the world one should choose to dine on a Big Mac and fries.

McDonald’s operates under the premise that customers want to know exactly what to expect, and to have those expectations consistently met – full stop. A good model for them perhaps, but that is not to say that all customers want that same level of consistency and that all companies should operate like McDonald’s.

When it comes to 'level 1', or the basic 'hospitality' service standards, like using the customers name and thanking them for their business, consistent delivery is incredibly important; but, I’m not so sure this means that every customer experience should be quite as predictable as the ‘Big Mac’ experience.

If your objective is to become the #1 service provider in your marketplace, you'll need to go well beyond simply meeting customer expectations. To really stand out from the pack, you'll need to change up your service proposition and occasionally step out of the box and do the unexpected – things that pleasantly surprise, if not “WOW” your customer’s.

Consistency in delivery of your core service standards will take you a long way, but to be #1 and to get the results that no one else gets, logic tells us you’re going to need to do some things that no one else does.

• Have you ever had a service experience that far exceeded your expectations? If so we’d love to hear about it.


• Are you currently doing anything in your service delivery that you believe no one else does?


• What could we all do as service providers to really WOW our customers?

To comment on this blog click on 'comments' below. To read previous articles, see the Blog Archive (lower right) and to become a Wavemaker Blogs follower, click on 'Follow' (just above Archive).

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If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com

The Customer Experience

In good times, or bad, it’s what matters most!

Think about it… why do you shop where you do? For some, it’s all about price. For others, it is convenience, or the quality and variety of products offered that keeps them coming back. But, for the majority of us, it’s about all of that… and more.

Most of us want to do business with a business that values what we value; a place that runs on common sense, not silly rules; a place where we are recognized and feel appreciated; a place where we can count on fast, friendly and efficient service. We don’t want to wait, we don’t want to be rushed, and we really don’t want to be sold to!

But we do want to buy…and sometimes, we need a little help with the process; and when we do, we want to deal with people who take time to really understand our needs, people genuinely interested in us not just as customers, but also as members of the human race. Please tell me such a place still exists.

With markets shrinking, it is especially important those of us in business understand why people do business where they do; and even more important we provide a customer experience aligned with that understanding.

Gone are the days where demand outstripped supply and we could count on sales regardless of our quality of service. Gone as well are the days when we could compete solely on product, price or channel differentiation. Thanks to the Internet, competitive advantage of that nature is typically duplicated in a matter of weeks, days, even hours.

A quality customer experience is not so easily duplicated, ergo the fact that great customer experiences are rare and horrendous ones commonplace. That said, those with the desire and commitment to create one can achieve consistent delivery of a great customer experience.

Enhancing the customer experience not only represents a journey into the final frontier of sustainable competitive advantage, but also one of the best pathways out of this economic downturn. Yet, as the recession lingers, what we are seeing is less, not more attention given to this imperative.

This spells bad news for consumers, the economy, and sadly, for the many visitors we are expecting to visit our province in the months ahead as we host the world during the 2010 Olympics. But, there is a silver lining. This general decline in service quality represents a once in a lifetime opportunity to gain market share for the enlightened few that truly understand - it is the customer experience that matters most!

To comment on this blog click on 'comments' below. To read previous articles, see the Blog Archive (lower right) and to become a Wavemaker Blogs follower, click on 'Follow' (just above Archive).

If you would like to be notified whenever a new Wavemaker blog topic is posted, just drop us an email at wmconsulting@live.com with "Blog Me" in the subject bar. We promise never to provide your contact details to anyone else and you can unsubscribe from this service at any time.

If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com

Coffee Anyone?

In this world of ever

increasing commoditization,

key to winning the battle of

the marketplace is a clearly

differentiated (and better)

customer experience

Question: How is it that a person will spend over three dollars for a cup of coffee at a trendy coffee shop when that same cup of coffee could be enjoyed at an upscale hotel for two dollars and fifty cents, a casual restaurant for a buck and a half, a fast food place for a dollar, or in the comfort of your own home for a total cost of about twenty cents?

Answer: It’s not about coffee . . . it's about the customer experience!

Think about it. Regardless of what you are buying, your decision as per whom you buy it from is more dependent on the total value proposition (convenience, service experience, image, ambiance, trust, packaging, etc.) than it is about the product or price.

The same holds true for almost any product. Take financial products and services for example. You can get a mortgage, open an RRSP, or receive financial advice from any number of financial services providers ...and all for pretty much the same price. Why do you bank where you do?

Long gone are the days when all you had to do was build a better mousetrap and customers would beat a path to your door. Today, new and improved product and service offerings can be replicated by the competition in a matter of days, if not hours. Now, to get the customer to come to you, and stay with you, you must present a better total value proposition!

That is what customers are really buying and knowing what customers are really buying is key to selling more of it!

To comment on this blog click on 'comments' below. To read previous articles, see the Blog Archive (lower right) and to become a Wavemaker Blogs follower, click on 'Follow' (just above Archive).

NEW: If you would like to be notified whenever a new Wavemaker blog topic is posted, just drop us an email at wmconsulting@live.com with "Blog Me" in the subject bar. We promise never to provide your contact details to anyone else and you can unsubscribe from this service at any time.

If you would like to know more about how Wavemaker Consulting can help your company improve the customer experience you provide, visit our Website, or email us at wmconsulting@live.com