Customer Satisfaction Is An Achilles Heel Of Modern Businesses

in CSI Scores, Customer Retention

Achilles was an ancient Greek warrior, the hero of the Trojan war who, in spite of tremendous advantages, fell in battle due to an unknown and unprotected vulnerability. This is the plight of many businesses today. What they don’t see can be the very thing that drains momentum, robs from the bottom line and prevents reaching or sustaining profitability. What vulnerability? In the last 50 years business realities have changed drastically. Once it was enough to make a great product or service and offer it at a reasonable price in order to make money and be successful. The power was largely in the hands of businesses. Customers were content to buy and use what was available in the marketplace. Fast forward to today and the center of power has shifted from the businesses to the customer. With the explosion of competition and choices in the market, customers can now easily move from one business offering to another as they choose. Add to that the emergence of social media and the easy access to information on the Internet available to every customer at all times, and businesses have very little power over the influences that drive customer choice. What does this Read More