According to a recent survey by Salesforce, 84% of customers say that the experience a company provides is just as important as its products and services. This highlights the importance of customer experience in today’s business world. Companies that prioritize customer experience are more likely to retain customers and attract new ones.
Lead time is one of the most important factors that customers consider when making a purchase. According to a study by Statista, 60% of customers say that they are willing to pay more for same-day delivery. This shows that customers value quick delivery times and are willing to pay extra for it. Companies that can provide fast delivery times are more likely to attract and retain customers.
The Kano Model suggests that excellent service and timely delivery, which were once considered special or extra features for a business, are now basic necessities for any business to be successful. This means businesses need to consistently provide great service and on-time delivery just to meet the standard expectations of their customers. The truth is, customer satisfaction and loyalty are more crucial than ever. To truly excel in business in our world today, you must prioritize understanding what customers truly value.
Let’s explore the concept of value in lean management through the words of Paul Allen, who recently addressed a group of industry leaders on this very topic.
Value in Business Management
Paul Allen emphasized that to deliver exceptional value to customers, organizations must first put themselves in the customer’s shoes. Imagine a situation where a customer asks about their order. The organization’s response is clear and immediate: “We’re here to make sure your order goes smoothly. Your happiness is our top priority.” Rolls-Royce, representing the customer, is determined to ensure top-notch service, not just because Siemens is involved, but because they understand what the customer values.
In this customer-focused approach, every move by the organization aims to provide an experience that matches what the customer wants. This means improving processes, reducing waiting times, and eliminating waste to make sure the customer gets their order quickly and perfectly.
Amazon is a great example of a company that prioritizes customer value. They offer a wide range of products and services and provide fast delivery times. According to a study by Forbes, 89% of customers are more likely to buy from Amazon than any other e-commerce site. This shows that Amazon’s focus on customer value has helped them become one of the most successful companies in the world.
In conclusion, businesses should prioritize customer value if they want to succeed in today’s competitive market. They should put themselves in the customer’s shoes and understand what the customer values. By providing excellent customer service and fast delivery times, companies can attract and retain customers. Remember, the customer is always right!