Businesses are coming to understand that it’s not just about the products or services they offer or how superior they are. Customer experience is now more critical than ever. Keynote speaker, customer experience futurist, and author Blake Morgan, joins us on today’s episode of CBT Now to share insights about what companies need to know about today’s customers.
Key Takeaways
1. In her latest book, The Eight Laws of Customer-Focused Leadership: New Rules for Building a Business Around Today’s Customer, Morgan draws on her 20-year research into customer experience. She emphasizes that there’s no better time than now for companies to consider their customer relationships and how they can continue to add value to customers’ lives. She points out that in a saturated market with multiple similar products or services, what distinguishes a company is the customer experience it provides.
2. Additionally, Morgan learned that creating a customer-centric culture and building exceptional customer experiences require the commitment of the company’s top leadership. Her book also discusses the eight laws of effective leadership, emphasizing essential elements such as having a customer experience mindset and balancing short-term profitability with long-term growth. She also highlights the importance of using metrics that drive customer-centricity.
3. Moreover, Morgan emphasizes the significance of employees as customers. She highlights Trader Joe’s as a company that treats its employees exceptionally well, setting it apart from other grocery stores. Since the company was founded in the 1960s, its foundation has been based on its investment in its employees.
4. Research has shown that companies that invest in employee experience are four times more profitable. Morgan also suggests that by investing more in their employees, companies can enhance the customer experience.
5. Morgan says the best investment companies can make for customer experience is through their people. She also notes that while AI is important for enhancing customer experience, it’s crucial to prioritize the human element to deliver the best customer experience.
"Customer service is the best marketing that money can't buy. Think about everybody watching this. You're all customers in your own life." – Blake Morgan.
