This afternoon, I’m in a meeting in Buffalo, New York, listening to leaders of this retail company and their vendors talk about commoditization in today’s marketplace. In today’s rapidly changing business landscape, one of the greatest challenges organizations faces is the perilous trap of the “sea of sameness.” It’s all too easy to become just another face in the crowd, blending into a swarm of indistinguishable competitors.
But fear not, for there is a powerful antidote that can help you rise above this trap – the Ultimate Customer Experience®.
In my years as a professional speaker and author, I’ve had the privilege of working with organizations worldwide, helping them understand the significance of creating an unforgettable customer experience. Here’s are seven ways the Ultimate Customer Experience® can be your ultimate weapon against commoditization:
Distinctiveness is Your Shield: In a commoditized market, customers often make purchasing decisions based on price alone unless you provide them a reason to make a different choice. When you offer a unique and exceptional customer experience, you become a brand apart. You stand out in a crowded marketplace, and customers are more willing to pay a premium for what you provide. Distinctiveness becomes your shield against price-driven competition.
Building Emotional Connections: The Ultimate Customer Experience® goes beyond transactions; it’s about forging emotional connections with your customers. When you invest in creating meaningful, memorable interactions, you develop loyal advocates who not only return but also spread the word. These customers become your brand ambassadors, helping you expand your influence.
Consistency is Key: A crucial aspect of delivering the Ultimate Customer Experience® is consistency. Your customers should know what to expect every time they interact with your brand. You cannot become “Ultimate” if what you deliver is random. Consistency builds trust, and trust is the foundation of long-term relationships. Organizations that prioritize consistency demonstrate their commitment to excellence.
Continuous Improvement: The pursuit of the Ultimate Customer Experience® is a journey, not a destination. Embrace a culture of continuous improvement, always seeking ways to enhance the customer journey. Gather feedback, analyze data, and adapt your strategies accordingly. This commitment to growth not only keeps you ahead of competitors but also delights your customers.
Personalization and Inclusivity: In today’s diverse world, personalization and inclusivity are essential. The Ultimate Customer Experience® acknowledges the individuality of each customer and ensures that no one feels left out. This works in both B2B and B2C situations. As an article in Harvard Business Review stated, “The fundamental change in B2B is that it has become more like B2C.” By catering to diverse needs and preferences, you expand your reach and make everyone feel valued.
A Competitive Edge: Commoditization often leads to price wars that erode profitability. However, by providing the Ultimate Customer Experience®, you shift the focus away from price. Customers are willing to pay more for an exceptional experience, giving you a competitive edge and increased revenue.
Authoritative Insights: As an author and professional speaker, I’ve witnessed how organizations that invest in our training on the Ultimate Customer Experience® gain authoritative insights into their industry. They become thought leaders and trendsetters, setting the standard for excellence.
It’s important to remember that the Ultimate Customer Experience® is not just a strategy; it’s a commitment to excellence that helps organizations transcend the trap of commoditization.
It’s about creating a distinct, emotional, and consistent experience that builds trust, fosters growth, and makes your brand a global leader.
As you embark on this journey, remember that it’s an ongoing process that requires dedication and continuous improvement. Seek out diverse perspectives, stay relevant on a global scale, and never stop advocating for the importance of standing out and delivering the ultimate customer experience.
And if we can help you with training your team, coaching your executives, and consulting with your leaders, we stand ready to be of personal assistance.
By embracing these principles, you’ll not only escape the commoditization trap but also lead your industry with unwavering distinction. Your customers will thank you, your brand will thrive, and your organization will reach distinctive heights of success.
Almost everyone with a few years of experience and who shares a comparable profession to mine – speaking for corporate conferences and consulting and training in sales and customer experience – will have a similar story.
Somewhere along the way, we encountered the executive who told us, “We had to make some serious budget cuts this year. Therefore, there’s no alternative, and we must slash our expenditures on training and corporate events – particularly outside speakers.”
While I acknowledge considerable prejudice around this topic, I believe this approach is flawed and terrifically short-sighted.
And while this commitment to ongoing education and inspiration for your entire team is essential, the impact of training and development on Millennial and Gen Z workers is particularly significant, as these generations have distinct expectations and values regarding their careers and workplace environments.
Deloitte’s Millennial Survey found that 44% of Millennials and 49% of Gen Zs believe continuous learning is the key to a successful career. This demonstrates their keen interest in continuously acquiring new skills and knowledge.
A study by ManpowerGroup shows that Millennials prioritize learning over other benefits in a job. 93% want lifelong learning and are willing to spend their own time and money on further training.
Investing in training and outside perspectives is not just an expense; it’s a critical component for driving revenue growth and ensuring long-term business success.
Here are five reasons why:
1. Enhancing Employee Skills and Productivity
Investing in employee training is vital for any organization aiming to stay competitive. An Association for Talent Development report found that companies offering comprehensive training programs have 218% higher income per employee than those with less comprehensive training. Moreover, these companies enjoy a 24% higher profit margin than those who spend less on training. This data underscores the direct correlation between employee training and an organization’s financial performance.
The impact of training and development on Millennial and Gen Z workers is particularly significant, as these generations have distinct expectations and values regarding their careers and workplace environments. Investing in their growth is not just a perk; it’s a crucial factor in attracting and retaining these younger talents.
A LinkedIn Workplace Learning Report revealed that 94% of employees would stay at a company longer if it invested in their career development. This sentiment is even stronger among Millennials and Gen Z, who prioritize personal growth and career development.
According to a Gallup report, 87% of Millennials rate “professional or career growth and development opportunities” as important to them in a job, far higher than the 69% of non-Millennials who say the same.
2. Fostering Innovation and Adaptability
In a world where change is the only constant, organizations must be agile and innovative to create distinction and stand out in their marketplace.
Selecting the right outside speakers, consultants, and training programs brings fresh perspectives and ideas that can spark innovation within a company. They can challenge conventional thinking and encourage employees to think outside the box, leading to new processes and approaches that drive revenue growth.
3. Enhancing Employee Engagement and Retention
It just makes sense that engaged employees create higher customer satisfaction and are more productive — which in turn boosts revenue. A Gallup study revealed that highly engaged teams show 21% greater profitability.
In my experience, delivering educational programs of quality not only enhances employee skills but also means employees feel the organization cares about their growth – making them more engaged. In a recent series of programs I delivered in the healthcare industry, one of the main comments from participants was that they loved the series of programs because it displayed that their company was willing to invest in them with high-quality and custom educational content.
4. Building a Strong Corporate Culture
Training and events featuring outside speakers can significantly contribute to building a strong, positive corporate culture. They provide opportunities for team building and shared learning experiences, reinforcing the company’s values and vision. A strong corporate culture is not just about employee satisfaction; it’s a business strategy.
Research by Deloitte found that organizations with a strong culture have a 4X higher revenue growth compared to those with a weaker culture.
A study by TINYpulse found that professional growth opportunities are the top factor in employee happiness for Millennials. This is a significant shift from previous generations, who placed higher value on salaries and job security.
The 2021 Deloitte Global Millennial and Gen Z Survey reported that during the COVID-19 pandemic, Millennials and Gen Zs showed a strong preference for employers who offered skills training, especially those that could be done remotely.
5. Enhancing Customer Satisfaction and Loyalty
Finally, well-trained employees are better equipped to meet and exceed customer expectations, increasing customer satisfaction and loyalty. This is particularly true in service-oriented industries where the customer experience is paramount. According to a study by the Institute of Customer Service, there is a clear link between employee engagement, customer satisfaction, and revenue growth. The study found that a 1% increase in employee commitment (a proxy for engagement) can lead to a monthly increase of 9% in sales.
Think about it…
Cutting budgets for training and outside perspectives might seem like a quick fix for financial challenges, but it’s a counterproductive strategy in the long run.
The evidence is clear: investing in training and external insights is not just beneficial; it’s essential for driving revenue growth and ensuring the sustainable success of an organization.
Leaders who recognize and act on this will position their companies to thrive in an ever-changing business environment.
If you and your organization would like to join the long list of distinctive companies of all sizes that have benefited from our programs – from keynote speeches to in-depth training – on distinctive sales strategies and delivering the Ultimate Customer Experience®, please connect with us here! We would love to help you, too, grow revenue and profitability!
Imagine a world where businesses not only understand their customers’ current needs but anticipate their future ones. This isn’t just a dream—it’s the key to distinction in a crowded market. Your challenge in creating distinction and standing out from the competition lies, in part, in your ability to not only think like your customer – but to also be equipped to think AHEAD of your customer.
Here’s an example of this that can work for any and every business, yet it’s from higher education and my friends at High Point University.
Have you defined specifically who your customers are? They have at High Point University – and obviously, two of those customer groups are students and parents. Just a few weeks ago, the fall semester ended, and students were traveling home for the holidays.
Thinking like the customer in this field means you prepare for their departure. Thinking ahead of the customer means you consider how you help students get home safely to their parents.
So, HPU created a “car check-up” program. Students could drive through and have mechanics check their tire pressure, oil level, and other major points to help ensure that no parent would receive a call from a distraught student broken down on the side of the road.
The President of the University, my friend Dr. Nido Qubein, even walked the line of cars waiting for inspection, asking the students about their holiday plans. Can you imagine other University Presidents doing this? It would not have happened where I went to college…but it’s part of High Point University’s total commitment to creating distinction and delivering an ultimate experience for all of its customer groups.
You start by thinking like your customer – not thinking as a business leader, entrepreneur, or manager in your specific field. The greater challenge is to have such a deep customer mindset that you can identify problems or obstacles your customers may be experiencing before they do – or ones that aren’t specifically related to your product or service.
A properly functioning automobile is not integral to academic achievement. However, Dr. Qubein and HPU know that caring about the student is a meaningful component of the total college experience and provides a critical point where their university can differentiate itself from other institutions.
But wait, as they say, there’s more.
A major winter storm is hitting many parts of the country – so what did HPU do for returning students? They added more of their complimentary shuttles to airports to accommodate families who want to get their student back to campus ahead of the storms. (By the way – how many universities offer complimentary shuttles from multiple airports back to campus for students?)
And they opened the dorms early so students could beat the weather. They even opened the café up early to accommodate students arriving and dining before the originally planned return. And here’s the kicker, they did all of this at no cost to the students.
Imagine parents talking with friends who have their kids at another college, talking about the steps HPU takes to ensure safety and deliver an ultimate experience. The point here is that distinction is a primary marketing tool. It creates referrals that are impossible to beat.
Studies cited in the Journal of Service Research underscores the power of thinking ahead of the customer. Companies that anticipate and address future needs not only achieve higher customer satisfaction but they also enjoy a distinct competitive advantage. This forward-thinking approach leads to increased customer loyalty and a stronger reputation through positive word-of-mouth – crucial assets in today’s market no matter your industry.
It’s a great privilege for me to be HPU’s “In Residence Expert on Distinction and Relevance” – but I must tell you that I feel that I’m constantly learning more from them than I have to share with the students, faculty, and staff.
Your business likely doesn’t involve opening dorms or testing the cars of young drivers – but your strategy should be the same. You do better when you think like your customer…something few businesses or leaders do. However, you become distinctive when you think ahead of your customer…and High Point University is a perfect case study of how this is done to perfection.
It’s time to shift from merely meeting customer needs to proactively anticipating them. The question is: how will your business rise to this challenge?
Creating distinction in any field, be it business, leadership, or customer service, is rooted in the bedrock of accountability. But, on only the second day of the new year, a billionaire owner of an NFL team is showing us exactly how it should NOT be done.
Carolina Panthers owner David Tepper was disciplined by the NFL after video showed him throwing a drink at a Jacksonville Jaguars fan from his suite during Sunday’s loss.
The league released a statement that said Tepper had been fined $300,000 “for his unacceptable conduct.
Here’s Tepper’s statement: “I am deeply passionate about this team and regret my behavior on Sunday. I should have let NFL stadium security handle any issues that arose. I respect the NFL’s code of conduct and accept the League’s discipline for my behavior.”
Do you see an “I’m sorry” in there for the fan he pitched the drink on? Or the team he embarrassed? Or the city his actions has let down? He leads with “I am deeply passionate” — in other words, “It’s not really my fault — I’m SO passionate that the poor play of this awful team I own moved me to do this.”
Notice that he says that he implies that he should’ve let “NFL stadium security” take care of those Jacksonville hooligans who said things that upset me. This from a billionaire who travels with security. He should try being the fan wearing the visiting team’s merchandise while sitting amongst the rabid supporters of the home team.
And naturally, he respects the NFL code and will accept their discipline. If he doesn’t, they have the potential to force him to sell the team. (See: Snyder, Daniel)
But what does this mean to non-billionaires like you and I?
In an era where organizational distinction and exceptional customer experiences are pivotal for success, the tendency to issue these “non-apology apologies” stands as a glaring misstep.
These pseudo-apologies, often structured as “I’m sorry if I offended you,” imply a conditional regret, predicated on the receiver’s reaction rather than the issuer’s responsibility. Not only do these statements lack sincerity, but they also undermine the credibility and distinctiveness of individuals and organizations alike.
At their core, non-apology apologies are a form of blame shifting. By saying “if I offended you,” the apologizer cleverly shifts the onus onto the offended, suggesting that the problem lies not in the action but in the recipient’s perception. This approach not only invalidates the feelings of the aggrieved party but also sidesteps any real accountability.
Recent research in organizational psychology highlights the damaging impact of such practices. A study by Brigham Young University (2021) found that insincere apologies can lead to decreased trust and increased conflict in professional relationships.
A genuine apology is a powerful tool that demonstrates responsibility, empathy, and respect. By openly acknowledging mistakes and their impact on others, leaders and organizations can foster a culture of trust and integrity. Harvard Business Review (2022) underscores this, noting that companies leading in customer experience rankings are those that prioritize transparency and accountability in their interactions.
Authentic apologies serve as a bridge to rebuilding trust and restoring relationships.
They involve acknowledging the mistake, understanding its impact, and taking steps to prevent recurrence. This level of introspection and commitment is essential for any entity striving for distinction.
A study published in the Journal of Business Ethics (2023) asserts that organizations that practice genuine accountability enjoy higher levels of employee engagement, customer loyalty, and overall reputation.
To move beyond the realm of non-apology apologies, it’s crucial to embrace a culture of genuine responsibility. This involves training and encouraging leaders and employees to recognize and own their mistakes. Additionally, fostering an environment where feedback is welcomed and acted upon can further enhance the culture of accountability. Implementing these practices not only elevates the ethical standard of an organization but also significantly contributes to its distinctiveness in a crowded marketplace.
A non-apology apology represents a missed opportunity for growth, learning, and distinction.
Mr. Tepper could’ve used this as a teachable moment — because even billionaire NFL owners aren’t above learning and growing.
True apologies, rooted in accountability and empathy, are instrumental in building and maintaining trust, a cornerstone of any distinguished organization. As the business landscape continues to evolve, those who master the art of sincere apologies will find themselves leading the pack, creating distinction not just by what they do, but by how they rectify their mistakes.
In today’s hyper-competitive market, the alignment between what your business promises and the performance that it delivers is not just a matter of integrity; it’s a cornerstone of customer experience and loyalty.
I highlight the criticality of this congruence in my book “ICONIC.” When a business’s marketing claims do not match the customer experience, it leads to a trust deficit, adversely affecting its reputation and bottom line. And, let’s face it, in most organizations, the people making the promise are seldom the ones who have to deliver the performance for your customers.
Your goal in 2024 should be to make certain that your promises and performances are in perfect alignment.
The Promise-Performance Gap
The promise-performance gap emerges when there’s a disconnect between the expectations set by marketing and the actual customer experience. This discrepancy can be particularly damaging. A study by PwC found that 73% of consumers cite customer experience as a significant factor in their purchasing decisions, but only 49% of U.S. consumers say companies provide a good customer experience. This gap indicates a widespread issue in businesses failing to live up to their marketed promises.
Impact on Customer Loyalty
Loyalty is earned when a business consistently meets or exceeds the expectations it has set. According to Accenture, 52% of consumers have switched providers due to poor customer service, highlighting the direct impact on customer retention. When the experience falls short of the marketing hype, customers feel misled, leading to dissatisfaction and churn. Everyone spending money with your business has the right to receive an Ultimate Customer Experience. ®
Brand Reputation and Word of Mouth
In the digital age, word of mouth travels fast. A survey by BrightLocal revealed that 87% of consumers read online reviews for local businesses in 2020, up from 81% in 2019. Negative experiences, especially when they contradict marketing claims, can quickly escalate into a crisis through online reviews and social media, affecting potential customers’ perceptions.
The cost of not aligning promises with performance is not just in lost customers but also in the additional effort required to regain trust. Harvard Business Review notes that acquiring a new customer can be anywhere from 5 to 25 times more expensive than retaining an existing one. This cost becomes exponentially higher when businesses must invest in damage control and rebuilding their reputation.
Best Practices for Alignment
1. Understand Customer Expectations: Regularly gather customer feedback to understand their expectations. This information should guide marketing messages to ensure they’re realistic and achievable.
2. Internal Alignment: Make certain that all divisions, particularly marketing and operations, are in sync. The promises made in marketing campaigns should be well understood and executable by the teams responsible for delivering the customer experience.
3. Regular Training: Employees should be regularly trained not just on their job functions but also on the brand’s values and promises. This ensures that everyone is equipped to deliver on those promises consistently.
4. Monitor and Adapt: Continuously monitor customer feedback and market trends. Be ready to adapt both your marketing messages and operational strategies to stay relevant and true to your promises.
The congruence between promise and performance stands at the core of customer trust and loyalty.
In an era where customers have endless options, the businesses that create distinction are those that understand and implement this congruence in every aspect of their operations.
By aligning marketing promises with customer experience, you will not only foster loyalty but also build a sustainable model for long-term success.
In my whirlwind of a career as a professional speaker and author, constantly navigating through airports, speaking on stages across the globe, and engaging with diverse audiences, the concept of a prolonged pause seemed unfathomable to me. However, life, as it often does, has presented an unexpected twist. Following my recent rotator cuff surgery, I find myself in a unique situation: a mandatory six-week hiatus from my usual bustling schedule.
For the first time in my decades-long career, my calendar is blocked for recovery, a change that initially felt more confining than liberating. Yet, I’m beginning to reframe this period not as a setback but as an unanticipated opportunity for growth and reflection. This experience is teaching me the profound value of patience and the importance of embracing change, even when it arrives in the most unexpected forms.
The Power of Patience
Patience, often overlooked in the fast-paced world of business and speaking, will become a vital skill during my recovery. It’s not just about waiting for my shoulder to heal; it’s about understanding and respecting the natural process of recovery. Patience is teaching me to slow down, to appreciate the smaller, quieter moments, and to listen more attentively to my own needs and those around me. (And to constantly express the appreciation I have for Tammy taking such good care of me!) This enforced slowdown is a reminder that sometimes, stepping back is just as important as moving forward.
Being stationary has opened a treasure trove of time for study and planning. It’s a chance to delve into the latest research, trends, and insights in the fields of organizational distinction and customer experience. This period is allowing me to absorb new information, think deeply about future projects, and strategize how to integrate these learnings into my future presentations and writings. The stillness of recovery is proving to be a surprisingly fertile ground for intellectual growth and creativity.
Reflection is another unexpected gift of this period. It’s an opportunity to look back on my career to evaluate what has been successful and what can be improved. It’s a time to ponder over the feedback from past audiences and clients and to consider how their insights can shape my future work. Reflection is also deeply personal. It’s a time for me to assess my own journey, to recognize my strengths, and to identify areas for personal and professional development.
Challenges as Opportunities
Perhaps the most significant lesson from this experience is to re-learn that challenges often present opportunities. This temporary pause is not just a break from work; it’s an opening to approach my career with renewed vigor and perspective. It’s a testament to the fact that often, the most profound growth occurs not during the times of constant motion, but in the moments of quiet stillness.
As I begin this path of recovery and discovery, I am reminded of the resilience and adaptability that define not just my career, but every achievement for us all. This experience reaffirms my belief that every challenge, no matter how daunting, holds within it the seeds of opportunity. It’s up to us to nurture these seeds and watch them flourish into something even more remarkable than we could have imagined.
While I eagerly await the day I can return to the stage and engage with my audiences in January, I am grateful for this unexpected journey of patience, study, reflection, and growth. The next six weeks are not just a break from my routine; they are a crucial chapter in my ongoing story of personal and professional evolution.
While I wouldn’t wish a forced time of recovery on anyone, I am left to wonder what could a bit of planned pauses to accomplish these important aspects do for your personal and professional life?
