When customers drive change
In the 2015 PwC Global CEO Survey, 72% of UK CEOs said changes in customer behaviour would be the biggest disruptive trend in the next 5 years. In other words, understanding your customer is the key to business success.
Blueberry Home Solutions launched in September 2014 and is on target to hit £2m in orders in 2015. They base all their product development on understanding customer trends and getting customer feedback.
Likewise, SunLife believe that customer experience is behind everything they do. Two years ago they started asking customers what they wanted. They get customer feedback at every stage of development. That’s from pre-product design through to customer testing, post sale surveys and ongoing research. This drives all the changes they make. And the results are impressive. They are now the market leader in over-50s life insurance with 50% market share. As well, awareness and consideration of the brand has risen by 5% in the last year. Their customer satisfaction is one of the highest in the industry at 97%.
And it’s just as relevant for smaller companies. Knitwear fashion brand Wool and The Gang grew as customers told their friends about them. Many customers are now part of the business, knitting garments for new customers!
So take a minute to think about how you get and use customer feedback. If you don’t ask for it now, it’s worth thinking about. It could just produce the idea that takes your business to the next level!
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