In today’s increasingly competitive business environment, it is imperative that businesses evaluate their organizations for ways to better anticipate customer needs, improve processes, and increase efficiency. Technology has been embraced across many areas of business management, operations, and marketing to meet these imperatives. As pressures continue to mount, attention on key areas of the customer experience beg for more attention.
Consider these statistics:
- Rockefeller Corporation found that 68 percent of customers leave a business because they think it doesn’t care about them.
- Businesses in the United States lose an estimated $83 billion in sales every year because of poor customer experiences, according to a Genesys study.
- According to Bain and Co., a 5 percent increase in customer retention can increase profitability by 75 percent.
Queues (e.g. waiting lines and checkout lines) can have a major impact on customer satisfaction and therefore a significant impact on business outcomes.Continue Reading