Summary of The Power of Customer Experience

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The Power of Customer Experience book summary

Editorial Rating

7

Qualities

  • Applicable
  • Well Structured
  • Concrete Examples

Recommendation

Brands that correctly interpret and respond to shifting consumer behavior will thrive; those who cannot, will fail, says consumer rights advocate Martin Newman. In this helpful book, he urges you to place purpose above profit, and explains why the most disruptive and successful companies put people at the center of everything they do. From catering to consumers disillusioned with material goods to averting disaster, Newman’s guardedly optimistic and comprehensive advice will allow your organization to build a loyal customer base.

About the Author

Consumer rights advocate Martin Newman founded www.customerserviceaction.com and www.thecustomerfirstgroup.com.

Summary

Purpose-driven customer-centric brands build loyal fans.

If you increase customer retention rates by 5%, you drive up your organization’s profitability 25% to 95%. In working to retain customers, you create fans who share positive opinions about your brand through word of mouth and on social media.

Increase customer retention by creating lifetime value. Empower customers to solve their problems by providing what they want and need – and what they don’t yet know they want or need. Place customers at the center of your business framework, personalizing and localizing the customer experience to differentiate your brand. Identify a compelling purpose and prioritize it ahead of profit margins. Your purpose isn’t a feel-good statement you plaster on PR materials – it’s central to profitability. Prioritizing purpose above profit  helps you increase revenue as you focus on longer-term goals and attract customers who align with your stated objectives and values.

Conscious consumers value experiences over material goods.

Consumer desires and needs shift. Many people...


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