Navigating the Challenges of Customer Science: How Companies Can Stay Competitive and Meet Expectations in Today’s Interconnected World

The Importance of Customer Science for CIOs

In today’s interconnected world, customer feedback has become more powerful than ever before. Companies like Snapchat and US companies have lost billions of dollars in market value due to a tweeted complaint or poor service. As a result, the journey towards customer science has become increasingly important for businesses looking to stay competitive.

One of the paradoxes in customer science is the organizational paradox, where companies struggle to find someone with the authority to ensure every interaction meets or exceeds expectations, despite the saying that “Customer is King”. To address this paradox, Glenn Laverty, former president and CEO at Ricoh Canada, tied every employee’s compensation to customer experience/satisfaction metrics.

Another challenge in customer science is the data paradox. Despite collecting vast amounts of customer data, organizations seem to know less about how to satisfy their customers. It’s important for businesses to address this disconnect between data collection and customer satisfaction in order to truly understand and meet customer expectations.

Measuring and rewarding certain behaviors is also crucial in driving desired outcomes. For example, at Boeing, production throughput compensation metrics were prioritized over safety considerations, leading to unintended consequences. Customer science can help align everyone’s compensation with customer experience metrics in a calibrated and nuanced way.

Overall, the importance of understanding and meeting customer expectations cannot be overstated in today’s interconnected world. By embracing customer science and addressing its challenges, businesses can better serve their customers and achieve success in the long run.

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