The Business of Customer Experience

Customer is king! We have been saying this for ages now. The great philosopher Chanakya agreed with it in 4th century BCE. Mahatma Gandhi is supposed to have said it while still in Africa. Even PM Modi said it while introducing the GST bill in the Lok Sabha last month.

However, is this really true in India? Until the liberalization era started in 90s, businesses in India were traditionally focused only on the supply side. Factories produced what they did and the customers had practically no choice. As the businesses in India globalized, there came an increasing awareness that the customer has to be placed foremost and centre in all business decisions. Progressive businesses establishments began to realise this and also began to implement it in their processes.

Just as in the case of corporates, the customers too have begun to realise their worth. They have become more knowledgeable and demanding. Customers are more aware of what satisfies them and are bold enough to voice their opinion both publically as well as privately. Also, customers now look for a holistic experience with their suppliers, encompassing the entire life cycle of the product. Customer loyalty per se now comes second to service. They are no more shy of switching providers, even if only to experiment. To be able to seek customer views on product experience, it is imperative for businesses to undertake frequent, analysable, open ended customer surveys. Analytics, not guesswork, is the only reliable enough indicator to what the customer truly values.

Great customer experience is like scaling a mountain peak. Once scaled, it becomes the standard. A standard once set soon becomes the expected par for the course. Any dip in service can evoke a negative experience response, even if the reduced level is better than the past. Since each individual is built differently, each would perceive and experience the same service differently. A great service quality for one may not meet the standards of another. Expectation of a standard that can significantly influence experience, which in turn is nothing but perception. Hence great customer experience is not so much about great service but more about customer perception. It’s not about giving, but about receiving.

Clearly creating good customer experience is not just for its own sake. It is an imperative for creating business value. Companies that have been able to create value for themselves in the long run are the ones who have considered customer experience as a critical part of their business strategy – right alongside product validity and corporate values & vision.

And the definition of ‘customer’ is changing daily. Our leaders are slowly understanding that no business works in a silo. The business ecosystem has to be considered as one, to enable sustainable growth – and has to include the human ecosystem as well. The restrictive definition of the term ‘customer’ is expanding to include this wider ecosystem of internal customers, which are no less in importance than the one traditionally considered external. This includes the entire human touch points, be it the product buying customers, our employees or those of our suppliers.

We at SSF continue to stride towards creating a Global India vision – helping & supporting business managers understand the concepts that can propel this great nation forward. Today we need strong leaders to take us there. Leaders who can influence and change directions swiftly when required – those who can take bold decisions and push the ball from concepts to culmination and enable sustainable journeys.

Edition Publish Date: September 2016

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Table of Contents
COVER STORY

The Business of Customer Experience
– A Transformation Beyond Change

Effective Purchase To Pay Process
ACHIEVING BUSINESS RESULTS WITH EFFECTIVE ECOSYSTEM MANAGEMENT

Unlocking Strategic Value Through Disruptive Practices And Thinking
A REPORT ON A LEADERSHIP INTERACTION EVENT

Finance Transformation Through Shared Services Strategy
THROUGH THE LENSE OF AN INTERNAL CUSTOMER

Fast Forward To The Future
RESHAPING THE CAPABILITY DEVELOPMENT AGENDA OF THE BPM INDUSTRY

A Shared Services Journey…
FROM CONCEPTION TO CULMINATION

Power of Published Knowledge
SHARED SERVICES FORUM’S PUBLICATIONS

Leadership Imperatives and Characteristics
ENABLING SUSTAINABLE JOURNEY DURING VARIOUS PHASES OF GROWTH

6th Annual BPM & Shared Services Conclave
A CURTAIN RAISER

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