Want to know why customers do what they do and why they act the way they do?This presentation makes the case for understanding what the problem is and more importantly knowing why it is a problem. This is the key to designing and delivering improved service outcomes for customers.
I pulled out this presentation from a couple of years ago after a meeting with a few clients over the past week or so. The question arose after they shared with us all the research that their organisation has completed over the past two years. There was a lot of market research, a lot of quantitative data and analytics. All good stuff in itself - and use really useful for the projects we are working on.
What none of the research answered was why their customers were actually leaving them after only a few years. What we did know was that a large reason was "Service" and "Price". If I had a dollar for every one of clients told us that was the problem. It's not wrong, it's just 10% of the answer.
Knowing it is "Service" for example is a great place to start, but what component of the Service, too much, too little, in the wrong places, at the wrong time, not at all?
The attached presentation lays out the case for getting to why and provides some research approaches to help you get there. Our experience over 10 years of asking "Why" is that it helps you hardwire into the real reason that your customers may be less than happy and why they may walk out the door before it's too late.
The customer lifetime value of departing customers can run to thousands and thousands of dollars, but that is for another blogpost.
If you want to better understand the real reasons why customers do anything, just ask "why" a few times and you will get much closer to the truth and provide you with a path to delivering an improved Product and Service outcome.
Start by understanding the 'WHY' here.