Executive Briefing
March 10, 2010
Improving the Customer Experience Drives Stronger Business Performance across Global Markets.
At Osprey, we're continuing to study the link between improving customer experience and favorable business performance. We've tracked "category leaders" -- companies like Singapore Airlines, the Virgin Group and Starwood Hotels.
All are sharpening their focus on improving the customer experience despite new economic challenges across many global markets. Each of these companies has maintained its business performance edge by nearly every measure.
What can we learn from the successes of market-leaders that we can apply to other settings? The answer is that it pays to focus on delivering superior service. But truthfully, the answer is broader and more complicated.
Our research shows that consistently delivering a personalized, interactive customer experience correlates with strong financial performance. Yet many companies have only a shallow understanding of what their customers prefer in the way of the service experience, and even less insight on how to enable it.
One thing is clear: few drivers have greater impact on business performance than service, whether it’s delivered by the Web, phone or in-person. Customer service is the central focus of business and the reasons are evident.
This is the realm where operating cost, sales revenue and workforce productivity converge, creating some of the toughest business challenges and offering the most promising opportunities that organizations face today.
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