The answer lays in the setup of expectations we have from the organization/person we are interacting with.
Expectations are the key factor behind the reaction that generates a sentiment of satisfaction (whether good, bad or indifferent). The setting of expectations comes from two sources:
1) the expectations created by the environment and/or our past experience (market standards). In our example, past movies that we watched or vaccinations that took place.
2) the messages the organization communicates to us (brand promise). In our example the information provided about the vaccine or the advertisement of the movie.
The combination of both trends sets our level of expectations prior to consuming the product, service, treatment and so on.
Making the connection with the Customer Journey
So, what does it mean for a business?
Every organization that is serving people has a journey that allows its consumers to interact with them. It doesn’t matter if it’s an organization that serves customers, citizens or patients, they all provide a journey with a purpose.
To maximize the experience across the journey, organizations need to strategically look at the complete value chain. They should be able to communicate a clear brand promise that is based on the understanding of the market landscape (allowing them to meet at least the minimum expectations), as well as highlight the uniqueness of the value proposition.
On the operational side, it is about having a process that collects real-time data, analyzes it and surfaces the insights to CX Managers to support decision-making on journey changes that will improve customer experience. That in return will drive an increase in satisfaction and as an outcome an impact on the financial performance of the company, for example by: gaining higher deal conversion rates, better customer references, stronger brand reputation and even a facilitation in attracting talents who will be more keen to work for your company.
A growth mindset is required to achieving positive results
What is clear is that all the value chain needs to meet the right level of expectations, but the key is not to degrade the well performing areas to be in line with the weak point areas, but to challenge yourself to exceed your performance. I see this subtle approach too often in business, lowering of performance expectations in line with poor practice just in order to stay on the safe side.
Trying to maintain the existing and solely focusing on the bottom line of numbers is a spiral that is eventually bound to go down and could only be useful as a short-term strategy to overcome difficult times.
The long-term strategy needs to be a constant growth mindset, a burning desire to work and an obsession for your customer needs (in a positive way of course) that is a necessity more than ever before.
Maximize the Experience – a beautiful equation of balance
Companies are focused on maximizing revenue, but if we take a closer look, below the hood lays the real source of revenue generation.
If you focus your efforts on maximizing the experience of your customers and employees, it will eventually result in better financial performance.
You just need to believe in it.