The customer experience has become an important strategic asset in many industries, especially those with commoditizing products or where deregulation has led to fierce price wars. Moreover, advances in technology and the globalization of many industries have heightened customer expectations. But too often, misconceptions about what customers value lead to misguided improvement efforts that waste valuable resources. To better focus their efforts, companies must address key challenges such as these:

  • Determining the right customer interactions leading to attrition, advocacy, and greater spending
  • Timing to focus on service instead of product or price
  • Determining service experiences that hurt customer satisfaction the most

We define