Is customer experience your competitive advantage?
In general, there are three ways a company can compete: price, product/service and customer experience. Competing on price can be tough on the bottom line, but for companies that do it well (WalMart), it can lead to great financial success. Competing on the quality of our product and service is necessary, but it can be difficult for us to educate the marketplace on why ours is superior (e.g. financial services). The customer experience, however, is something that we can make uniquely ours. Think about how often you chose to do business – or not do business – with a vendor because of your experience with that company. Personally, customer experience is the reason why I exclusively fly Southwest Airlines.
How does a company deliver excellent, sustainable customer experience…?