VBD Brief
There are many benefits of having consistency throughout any organisation, whether it is in the workplace or in customer interactions. Meeting demands consistently requires the attention of top leadership and it is becoming an increasingly important factor in various industries (Pulido, Stone and Strevel, 2014). This brief will highlight the advantages of having consistency throughout ‘Prestige Worldwide’ and how we can adopt it.
Consistency is the key to making customers happy, which is the aim of this organisation. In order to provide maximum customer satisfaction, the customers must have a consistent ‘customer journey’, i.e. the cumulative experience of interactions that a customer has with a company (Pulido et al, 2014). Research by McKinsey & Company (2014) suggested that evaluating the customer journey is 30% more predictive of overall customer satisfaction than individual touch points, which makes increasing customer satisfaction easier to do. Even more importantly, Hallowell (1996) found that improved satisfaction leads to increased customer loyalty. Loyal customers are likely to retain our service and recommend our service to others, thus increasing our customer base and generating more business.
McKinsey & Company found that consistency improves customer satisfaction by 20%, lifts revenue by 15%, and lowers the cost of serving customers by 20%. There is also a correlation between overall customer satisfaction and journey experience consistency, as shown in the graph to the right (Pulido et al, 2014).
Research has highlighted many advantages and no notable disadvantages; hence this issue is something Prestige Worldwide should consider as part of its management strategy.
McKinsey & Company lists three aspects that must be consistent which we should target;
1. Customer journey consistency:
Customers interact with different branches of our organisation throughout their customer journey, and it is important for their
Consistency is the key to making customers happy, which is the aim of this organisation. In order to provide maximum customer satisfaction, the customers must have a consistent ‘customer journey’, i.e. the cumulative experience of interactions that a customer has with a company (Pulido et al, 2014). Research by McKinsey & Company (2014) suggested that evaluating the customer journey is 30% more predictive of overall customer satisfaction than individual touch points, which makes increasing customer satisfaction easier to do. Even more importantly, Hallowell (1996) found that improved satisfaction leads to increased customer loyalty. Loyal customers are likely to retain our service and recommend our service to others, thus increasing our customer base and generating more business.
McKinsey & Company found that consistency improves customer satisfaction by 20%, lifts revenue by 15%, and lowers the cost of serving customers by 20%. There is also a correlation between overall customer satisfaction and journey experience consistency, as shown in the graph to the right (Pulido et al, 2014).
Research has highlighted many advantages and no notable disadvantages; hence this issue is something Prestige Worldwide should consider as part of its management strategy.
McKinsey & Company lists three aspects that must be consistent which we should target;
1. Customer journey consistency:
Customers interact with different branches of our organisation throughout their customer journey, and it is important for their
References: Beard, R. (2014). Is consistency the secret ingredient to customer satisfaction?. Retrieved from http://blog.clientheartbeat.com/consistency-customer-satisfaction Hallowell, R. (1996). The relationships of customer satisfaction, customer loyalty, and profitability: an empirical study. International journal of service industry management, 7 (4), p. 27-42. Hyken, S (2013). Amaze every customer every time: 52 tools for delivering the most amazing customer service on the planet. Np.: Greenlead Book Group Press. Morris, T. (2014). 3 Tips for Creating a More Consistent Customer Journey | Parature. Retrieved from http://www.parature.com/consistent-customer-journey/ Pulido, A., Strevel, J. and Stone, D. (2014). The three Cs of customer satisfaction: Consistency, consistency, consistency. McKinsey & Company, March. Redbubble. (2014). Prestige Worldwide logo.[Image] Retrieved March 24,2014, from http://ih0.redbubble.net/image.13336929.5818/sticker,375x360.u1.png Pulido, A. and Strevel, J. and Stone, D. (2014). Customer satisfaction survey: Who’s up and who’s down. [Image] Retrieved March 24, 2014 from http://mckinseyonmarketingandsales.com/customer-satisfaction-survey-whos-up-and-whos-down Szymanski, D. M. and Henard, D. H. (2001). Customer satisfaction: a meta-analysis of the empirical evidence. Journal of the academy of marketing science, 29 (1), pp. 16-35.