Today's automotive leaders face a number of pressing challenges: rising energy costs, fierce global competition, product engineering enhancements, a sales process that continues to migrate upstream from the dealer and increasingly demanding service customers.
As competition stiffens, companies are increasingly relying on the customer experience to help differentiate the brand, enhance loyalty and better position themselves for growth. Automotive companies are beginning to re-evaluate the sales and service experience and define what customers expect or desire from both a practical and emotional standpoint.
While retail companies and brands are becoming increasingly defensive in the face of unpredictable and volatile consumer purchasing behavior, we believe that this is the time to be deliberate and bold.
The challenges are real: rising supply chain costs, declining consumer spending, and the commoditization of goods and services are just some of them. However, these current market dislocations have created the classic opportunity for proactive and customer-centric organizations to re-establish their value proposition to on-the-fence consumers and acquire new revenue-generating customers.
It starts with discovering who your most loyal customers are and what drives their particular behavior. We help retail organizations use this insight to make strategic investments – financial and operational – to capture the emotional needs and functional requirements of their target market.
The challenges faced by financial services institutions never get simpler. Already hurting from the decline in traditional revenue streams and increasingly stringent regulation, the industry is now faced with overcoming a large and growing trust deficit with its customers left in the wake of the recent financial crisis.
A recharged focus on personalized banking and advisory services is required in this new market reality. Engaging with customers directly and often is the first step to reviving a tarnished brand identity, and ensuring fail-safe security and data privacy is a necessary requirement when it comes to restoring trust. Financial institutions that deliver on these propositions will emerge as the clear winners in their markets.
The recent consolidation within the airline industry is not accidental. Rising fuel prices have diminished margins and the ordeal of coping with security challenges and outdated fleets has lowered flyer expectations to an all-time low. With weak balance sheets and inconsistent load factors airlines have merged in an attempt to synergize.
But because bigger isn't necessarily better, what can airlines do to distinguish themselves from the competition?
The need to travel will always be a functional requirement but the real opportunity lies with airlines to re-establish a personal and emotional connection with their flyers in this highly commoditized market. This will foster greater loyalty and allow airlines to optimize revenues from ancillary services.
How do you grow subscribers, reduce churn and increase ARPU?
With the convergence of voice, data and video, and with fast-changing technologies changing the cable and MSO landscape frequently, companies that want to create a loyal subscriber base and acquire customers cost-effectively must ‘listen’ to their customers diligently in order to keep pace with their ever-changing needs. The strongest brands will be those that ‘speak’ to these needs in the form of innovative pricing plans and services that align to the form and function of the latest hardware technologies.