Do You Have a Sustainable Competitive Advantage?….

In today’s highly competitive environment businesses are finding it increasingly difficult to come up with sustainable competitive advantages. Everybody is closely watching each other and copying their every move.

Many companies are sourcing products from the same suppliers or

offering similar services. The difference in price from one business to

another is often minimal. As this world of sameness engulfs the

commercial world, it becomes more important for your business to stand

out from the pack.

But how can you achieve this?

There is a secret all truly successful businesses have known since the

beginning of time. They have known it instinctively. It is the secret of

providing your customers with a truly memorable experience when they

do business with you. As a result, people will not only keep coming back

but, more importantly, they will also tell others. It’s the

power of word of mouth marketing.

And it all starts with the experience your customer has while doing

business with you.

Customer experience is the new commercial battlefield

Only businesses with unique and sustainable point of difference will

survive and prosper in future.

For example, in the retail sector, a customer’s initial impression before

visiting a store, the store layout, the interaction with staff and the after sales

service all make up the experience the customer takes away from

the business. This experience will decide whether they visit again.

Whatever business you are in, the same principle applies. You need to

consider every detail of the experience your customers are having when

they deal with you.

First, you must get inside the mind of your customer

In a market bombarded by advertising and marketing, people are acutely

aware of the tricks companies use to entice us into spending money.

No amount of advertising can compete with recommendations from friends

and colleagues

Research both in New Zealand and overseas, and backed up by business

leaders internationally in both bricks and mortar and web-based

companies, shows businesses that concentrate their energy on building

unique and memorable customer experiences, and who engage

emotionally with their clients – rather than just their wallets – are the ones

that will build powerful customer loyalty and word of mouth.

They will have a genuine competitive edge. Their profits will grow and

their future will be secure.

Chris Bell www.customerexperiences.co.nz

 

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