Monthly Archives: February 2015

February 18, 2015 · 12:57 pm

CX

Maybe this customer-centric thing is starting to sink in.  I’m encouraged by the results of a study put out by the eConsultancy folks in conjunction with SDL which explores how retailers are addressing customer experience, or CX for short.  From the results it seems that many retailers have figured out that price is just one factor in the purchase decision and that it is outweighed these days by how customers interact with the brand.  In fact, the report states that providing an exceptional customer experience is the single most important strategic choice that retailers can make now and in the years ahead. 89% of the retailers surveyed for this report agreed or strongly agreed to the statement “Our customer experience is our brand.”  It’s a good point for any business, retail-based or not.

Think about it.  A quick visit to a search engine can usually produce pricing comparisons but that same search engine tells you little or nothing about how the customer is treated.  If you’re researching a product, how complete and truthful are the product listings?  If there is a problem with your order or you have a question as you purchase, how helpful and responsive is the customer service?

Every business (even mine!) has customers of some sort.  Their experience with you begins with their first encounter: maybe your website, maybe some content you’ve issued, maybe the response to a form they filled out or maybe someone answering a telephone enquiry.  There is one thing I found surprising in the study which is that only 12% said “company culture” is a barrier to successful customer experience management.  If that’s true it’s incredibly encouraging and represents a big shift.  I’m not sure I believe it however.  Many companies still put way too much emphasis on pushing merchandise that provides the highest margins or which is aging over the needs and wants of the customer.

If your product has been commoditized (read that as “if your primary selling point is price”) than you are going to have a hard time competing from my perspective.  A great customer experience differentiates your brand.  I’m glad to see that way more folks are agreeing with that and investing in that differentiation.  Is that something you’re doing?

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February 17, 2015 · 1:17 pm

Generation Whatever

I’m going to sound like a cranky old guy today which may or may not be an apt description of how I’m feeling. Please don’t confuse the tone with the message. I have been thinking for quite a while about this and I guess it’s time to get it off my chest.

I’m sad for an entire group of young people. Without painting with too broad a brush stroke, there seems to be an entire generation of youngsters I’ve been encountering more and more often that I’ve come to call “Generation Whatever.” Let’s call them “GenW” for short. I’d characterize them as “along for the ride.” They do the work that’s asked of them and not much more. They seem way more interested in what’s happening on their phones than what’s going on in front of them. They’re generally not particularly proactive. This has nothing to do with their smarts – many of the GenW’s I’ve encountered are well-educated and pretty intelligent. No, this has to do with attitude.

One of the things about which I’m proud is that I’m a damn good teacher – references available on request.  Over the years I’ve developed a lot of very fine executives and inherent in each of them was a willingness to learn and a desire to improve.  Lately it seems that when I start down the development path with a number of GenW’s I get their stock answer as we discuss where things can get better.

You realize that inputting data that way will make it difficult to search and compile information later? Whatever.

You used a spell-check but didn’t read it yourself so this newsletter copy uses a homophone of the correct word. Whatever.

I’m not talking about slackers here.  They’re generally not goofing off.  They just don’t seem to have any sort of professional attitude.  Perhaps for many of them it’s just their day job – what they do to earn the money that allows them to pursue what they love.  Maybe they were indulged as children and never made to take responsibility.  Maybe I’m just too damn old but I don’t think so.  I’ve discussed my thinking with other professionals 20 years younger than I am and they share the feeling.

Maybe it comes from a world in which version 1.0 of anything is usually riddled with errors and gets continual updating (How do we test software?  We release it!).  Maybe much of the business world has fallen to lower standards so they don’t feel so out of touch.  Maybe they are really perfectionists who are trying to protect themselves from embarrassment, criticism, anger and the withdrawal of love or approval.  I’m not sure and I’m not sure I care.  All is know is that it doesn’t bode particularly well for any of us in business.

Am I off base here?  And PLEASE – any comments of “whatever” are really not appreciated!

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February 16, 2015 · 12:16 pm

Thoughts From George

Presidents’ Day celebrates the births of George Washington and Abraham Lincoln.  You might not think of Washington as a successful businessman but he was, even after he left the presidency.  He made rye whiskey in retirement after a career as a tobacco farmer.  Since today is a holiday for many of you, I thought I’d get in the “day off” spirit by reposting something from 2009 that still is good advice – Washington’s, not mine!  

April 30: George Washington becomes the first ...

(Photo credit: Wikipedia)

It’s no surprise that almost 282 years after his birth, George Washington has some business thoughts. Now before you click to the next blog, let’s remember that this is the man who predicted the European Union a long time ago except that he called it the “United States of Europe“. His open letter to the American People, written as he left office, raises themes that are even more true today. He urged Americans to unite for the good of the whole country, to avoid permanent foreign alliances, particularly in Europe, and to keep morality first and foremost in government.

Turns out he had some pretty good business advice as well although I’m not sure he intended it as such. So, let’s follow his advice to “Let your Discourse with Men of Business be Short and Comprehensive” and look briefly at a few quotes.

Labor to keep alive in your breast that little spark of celestial fire, called conscience.

We’ve discussed that point many times in this space. It’s impossible to do good business while doing bad things.

My observation is that whenever one person is found adequate to the discharge of a duty… it is worse executed by two persons, and scarcely done at all if three or more are employed therein.

Right-sizing, in other words, but also giving people responsibility and the freedom to act. I suspect that he knew a lot about conservation and deployment of resources from his time near the Delaware.

Worry is the interest paid by those who borrow trouble.

Oh boy. Is there a better quote to sum up all that has gone down in the housing and mortgage industries? Don’t do bad deals and you’ll sleep better! And finally:

Associate with men of good quality if you esteem your own reputation; for it is better to be alone than in bad company.

For whom you work and with whom you do business say a lot about YOU! So Happy Presidents Day and let’s remember the people behind the holiday as well as what they had to say.

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