Much of the recenttalk surrounding the iPhone 8 has focussed on its hardware. Now, courtesy of a new leak, we can go back to speculating its design. The latest image — via the web’s resident handset leaker Evan Blass — indicates Apple’s next flagship will be mostly screen, and very little bezel.
The render shows the new iPhone within a neon yellow case, much like the Urban Armor Gear shell for the iPhone 7. Unlike the exclusive leaksEngadget obtained in May, the latest image is just of the front of the phone. It suggests the top of the phone will have a notch for the dual camera sensors and central earpiece — the rest of the front will be taken up by the phone’s display.
As usual, it’s best to greet this latest render with a dash of skepticism. For starters, the date on the iPhone is March, which indicates it could be a few months old.
If it does turn out to be accurate, however, that means Apple is following the screen-dominated designs spearheaded by Samsung, LG, and the Essential Phone. Blass also pointed out the similarities with Android co-founder Andy Rubin’s device, going so far as to say he preferred the look of the Essential Phone.
Rubin’s former company, on the other hand, doesn’t seem to be following the pack. The latest leaks of Google’s upcoming Pixel phone suggest it won’t cut down on its top and bottom bezels.
The new image should get fans talking as they anticipate the next iPhone’s release. Your feelings will likely betray which camp you reside in: pro-, or anti-bezel.
Effective use of technology is critical to the success of any business. Whether in production, sales or administration, technology helps businesses to run more smoothly. It also enables employees to leverage their time and ability, to make more informed decisions, and to implement strategies more quickly.
This is especially true in the world of Human Resources, where the building of capable teams contributes mightily to the overall success of a company. To improve workplace productivity, make sure that you are making the most of the technology in the field of HR in each of the following ways.
1. Network and stay aware of talent available in the marketplace
Social and professional networking sites make it easier today than ever before to identify prospective candidates for positions within your company. Using sites like LinkedIn, Facebook, and Instagram effectively, you can conduct thorough research into a prospective hire, check their CV, and get an idea of their personal character. If a highly-talented individual leaves their firm or starts looking for new opportunities, you can find out quickly and move to bring them on board.
2. Measure aptitude and attitude in potential hires
During the interview process, you can use technology to test a candidate’s ability to perform various functions necessary to their prospective role. You can also use personality assessments to determine where and how they should be placed within the company or various teams. Using tests such as the Myers-Briggs Type Indicator, you can get results that are more quantitative rather than subjective, so the information gleaned can be used objectively.
3. Track the productivity of various teams before and after the addition of new members
The implementation of proper technology within your firm will allow HR professionals to measure and track the productivity of the company as a whole, as well as various departments or teams across time. This way, they can see where capabilities may be lacking or new talent may be especially effective in boosting productivity. They can also compare the productivity of different teams within the business, given the personality and aptitude metrics associated with the members of each team. Many personnel and productivity management programs – designed specifically for HR professionals – report that the first upticks that they find after implementation of their solutions are in areas related to customer service. Where employees were more prone to slacking, they’re now motivated to stay on task and address customer issues that arise.
4. Measure the impact of certain traits on productivity of various teams
In HR, it’s easy to understand how certain personalities or skill sets may complement each other. It’s also commonly acknowledged that certain types of people will have more difficulty working together. As technology is implemented to measure the competence and personalities of new and existing employees, HR professionals can then watch over time to see how productivity is impacted by the addition or elimination of employees with certain traits. This will generate a store of knowledge, allowing those resource professionals to specifically seek or avoid specific traits in their future hiring. They will also be better able to rearrange existing company resources to optimise productivity without adding more employees.
5. Tie it all to budget
For a company owner or manager, this is perhaps most significant advantage offered by technology to the HR process. By effectively using technology, HR professionals can objectively measure the true cost of productivity. They can start with the cost of each employee, and begin to break down the relative cost of aptitude and attitude in each case. Going further, HR staff can measure the cost of teams given their relative output, in the same way manufacturing firms are able to determine the precise cost of each unit of output. These professionals can go on to determine which employees or teams are pulling their weight, where talent may give a boost to productivity, and whether it’s likely worth the expense. They can also determine whether rearranging company resources will be financially worthwhile. This ability to tie everything together and see how productivity affects the bottom line – and what changes will translate to better profits – is the ideal goal for Human Resources.
Human Resources is all about building effective, efficient teams to maximise company productivity. Professionals aim to leverage the skills and personalities of each individual team member, to make a whole company better than the sum of its individual parts. By utilising the right technology in the right ways, HR professionals can generate the most output from the resources available in the marketplace, ensuring that a company runs smoothly and efficiently.
The ability to improve productivity will lead to a satisfying workplace for your employees and expanded profits for company owners.
LONDON — Clients of Barclays could have to pay as much as £350,000 ($455,000) for the bank’s highest level of equity analysis once new rules banning the free sharing of research come into force under MiFID II.
For that, clients will get “unlimited reports, field trips and ‘occasional’ one-on-one meetings with analysts and corporate executives,” Bloomberg’s report notes.
At the other end of the spectrum, clients wanting the most basic access will have to fork out $30,000 (£23,000) to gain permission to read the reports.
The prices are not believed to be final, and there are likely to be “bespoke” packages available, which will be considerably more expensive. Prices from Barclays are the first emerge from a major investment bank on the equity side.
The rules surrounding payments for analyst research are designed to create greater separation between the money paid for trading commissions and investment research and to force greater transparency on investment banks.
A recent report from consultancy giant McKinsey argued that investors could end up spending around $1 billion (£770 million) less under the new rules, choosing to be pickier about which banks and analysts to buy research from, generally choosing only those with the best records.
“In five years’ time, sell-side equity research will likely still play a crucial role in the fundamental investment processes of the buy side, but most firms’ research functions will be smaller and more focused, governed by a strategic appreciation of the buy side’s need to produce alpha.”
Government statistics put unemployment in Britain at just 4.5% — a record low not seen since the 1970s.
But the real rate of unemployment is four times that.
We walk you through the evidence that shows why official unemployment numbers are so misleading.
LONDON — Unemployment in Britain is now just 4.5%. There are only 1.49 million unemployed people in the UK, versus 32 million people with jobs.
This is almost unheard of. The last time unemployment was this low was in December 1973, when the UK set an unrepeated record of just 3.4% unemployment.
The problem with this record is that the statistical definition of “unemployment” relies on a fiction that economists tell themselves about the nature of work. As the rate gets lower and lower, it tests that lie. Because — as anyone who has studied basic economics knows — the official definition of “unemployment” disguises the true rate of unemployment. In reality, about 21.5% of all workers are without jobs, or 8.83 million people, according to the ONS.
For decades, economists have agreed on an artificial definition of what “unemployment” means. Their argument is that because there is always someone who is taking time off, or has given up looking for work, or works at home to look after their family, that those people don’t count as part of the workforce. In addition, the unemployment rate can never truly hit zero, because even when people change jobs they tend to take a break of a few weeks between them. Very few people quit on Friday and start at a new place on Monday. In the UK and the US,technical “full employment” has, as a rule of thumb, been historically placed at an unemployment rate of somewhere between 5% and 6%. When unemployment gets that low it generally means that anyone who wants a job can have one.
Importantly, it also means that wages start to rise. It becomes more difficult for crappy employers to keep their workers when those workers know they can move to nicer jobs. And workers can demand more money from a new employer when they move, or demand more money from their current employer for not moving.
The UK right now should be a golden age for workers — low inflation and low unemployment. Now is the time to get a job. Now is the time to ask for a raise. It doesn’t get better than this. Wage rises ought to be eating into corporate profits as bosses give up their margins to retain workers, and capital is transferred from companies to workers’ pockets. Trebles all round!
Of course, that isn’t happening.
Wages in the private sector have not started to rise. Public sector wage rises are capped at 1%. There has been a little uptick in new hire rates, but the overall trend is flat. This is part of the proof that shows real unemployment can’t be just 4.5%:
More importantly, wages are not keeping pace with inflation. Here (below) is wage growth after inflation has been taken out. Workers’ real incomes are actually in decline, which is weird because “full unemployment” ought to be spurring wages upward. Overall inflation ought to be driven by wage inflation. Yet wage inflation isn’t happening:
So what’s going on?
Why does Britain have no wage inflation, if the labour market is so tight?
The answer is unemployment is not really that low. In reality, about 21.5% of British workers are either officially unemployed, inactive, or employed part-time even though they really want full-time work. (The ONS has a chapter on that here.) Some of those people — parents with newborns, university students — may not want jobs right now, but they will want jobs soon. Even when you take those out of the equation, the true rate of people without jobs who want them looks like this, according to analyst Samuel Tombs at Pantheon Economics:
Note especially that the rump of “inactive” workers — the black bars — has stayed roughly the same for two straight decades.
The situation is worse from the perspective of men. The percentage of inactive male workers has tripled in the last 40 years, as more and more women are drawn into the workforce to replace them:
That last chart explains a LOT about politics in the UK right now.
On paper, Britain is supposed to be doing well — growing economy, low unemployment. So why did Jeremy Corbyn’s Labour party get so many votes at the last election? (Answer: People still feel poor, their wages are not rising, and 1 in 7 workers is out of work.) Why did a majority of people vote for Brexit? (Answer: the economy for men is basically still in recession, and men don’t like losing their economic power, so this was a good way of “taking back control.”) And why are so many people trapped in the “gig economy,” making minimum wage? (Answer: Because the true underlying rate of unemployment means companies can still find new workers even in a time of “full employment.”)
So yes, it’s great that we have “low unemployment” in Britain.
But it would be better if economists (and the business media) were a bit more upfront about how our definition of “unemployment” actually masks the real rate of worklessness, which is quadruple the official rate.
Since its launch 7 years ago, the UK Customer Experience Awards has become one of the most important customer experience events in the world.
It was no surprise that this year’s ceremony, which took place on the 23rd September, would be nothing short of amazing, with over 150 companies competing in more than 30 categories, and nearly 800 attendees, who left feeling inspired by the stories, experiences and achievements of their peers.
What made the occasion for us was the fact that Findel Education (our parent brand) won in the category of “Business Change.”
The fact that an awards programme as significant as the UK Customer Experience Awards recognised our passion is priceless.
Our team is dedicated to helping our customers achieve results, having made our seamless ordering process as simple as possible and committing to providing our customers with a helpful and hassle free shopping experience.
We have been supplying resources for over 100 years, not only do our customers get an experienced team to support them, they also get a name they can trust and a service they can rely on. Our professional state-of-the-art distribution centre ensures our customers receive what they want, exactly when they need it.
It felt amazing to know that the panel of judges saw what we were doing and recognised us nationally for it. It brought a new sense of purpose, motivation and inspiration to our team, and encourages us to keep improving now and in the future.
We like to think, that at Findel we approach any challenge without fear and welcome feedback with open arms from our customers or from other sources. We appreciated the feedback we received from the judges, which we got in the report following the awards.
We remain inspired to continue evolving our services and committed to providing the best in class customer experience!
Entering these awards has been a blessing and we left with more than we ever imagined, and for this, we are grateful to team at Awards International and the UK Customer Experience Awards.
Finally, we would just like to congratulate all the finalists and winners. We know they share our enthusiasm and we hope we will see them again. We are looking forward entering next year and shouting about what we have done since and who knows, we may even win again!
In our work with clients we see commonly recurring pitfalls that often lead to failure in digital implementation, including: unrealistic expectations of technology; believing a new technology system will fundamentally transform the organizational culture and employees will simply adapt; creating a constrained environment by, for example, shooting down ideas too quickly; and failing to adequately consider employees before embarking on change. We look at how these problems can be overcome by focusing on five fundamentals that are often neglected in the “new world” of digital.
Step 1 – The approach
Companies can easily become focused on delivering large-scale, three-year plans (e.g. major enterprise IT projects). Invariably, this involves detailed, upfront program specification and extensive “left-to-right” planning, leading to outcomes that directly undermine the ability to turn strategy into successful execution. Some common pitfalls include: costly, lengthy, monolithic projects with an inverse relationship between budget and chance of success; and danger of irrelevance by the time the “solution” is delivered. In combination, these factors can lead to a mentality of “we know what we need to do, if only you would let us get on with it.”
The most successful companies use data analysis and insight from adjacent industries to continually assess and then regularly revisit whether to invest further, pivot or stop. Once a trajectory has been agreed, they adopt a “right-to-left” planning approach with agile delivery.
At ADL, our own internal manifestation of this approach is a short Phase 0 (rapid analysis focused on a clearly bounded “exam question”); Phase 1 (to prove the “art of the possible”); and a Minimum Viable Solution (MVS) (to answer the exam question and build momentum through rapid iterative enhancements to the solution).
Step 2 – Design before technology
Putting technology before design, which is effectively setting the “how” before the “why,” and failing to address underlying organizational and communication structures, will simply widen the gap between strategy and execution, and between anticipated outcomes and reality.
A “design first, technology second” approach is much more effective: consider the underlying purpose of the strategy and carefully design it, with the employee or customer in mind, to take into account the functional (i.e. technically required) and non-functional requirements (i.e. how people actually will use the technology) before defining how best to implement the solution.
Step 3 – Shared language
Programs and projects are typically defined by language and nomenclature that aims to set goals and targets, define activities, and identify and manage risks. The shared language used is an important factor in determining how the team perceives values and priorities, and how it behaves in relation to risks and outcomes. Language can also leave little room to move sideways or explore new ideas, which can lead to promising opportunities being discarded too early and failing ideas persisting.
Step 4 – People
Implementing change is hard because organizations are composed of people, who have different perspectives, incentives and motivations. Often referred to as the “soft” side of delivery, it is invariably the hardest. In our experience, companies that do not obsessively consider employees before and during each stage of strategy execution are likely to fail.
Step 5 – Flexible implementation
Traditional “best-practice” approaches assume we can precisely predict the outcomes of strategies and projects through detailed “left-to-right” execution plans. Yet this rarely goes to plan, as “best practices” are almost exclusively designed for closed systems, where all the inputs can be controlled and managed. In reality, digitally enabled strategy implementation, especially in large companies, takes place in complex open systems. These open systems comprise interactions from a diverse range of individuals, acting with a degree of autonomy and unpredictability. Trying to oversimplify such a system to implement a rigid, deterministic strategy is destined for failure.
Instead, companies need to identify and acknowledge when a system is open, with strategic plans that assume emergence and uncertainty. Management should maintain a clear view of the desired outcome and goals, but focus on delivering the next part of the plan rather than adhering to the longer-term program, while providing “invest, pivot or stop” decision points when new evidence challenges the initial strategy.
This evidence should include internal data analysis combined with an external and forward-looking focus on similar and adjacent industries. This type of adaptive approach, which we refer to as “next practice,” has been shown to be far more successful than the traditional best-practice approach.
Successfully implementing a business strategy is usually a lot more challenging than developing it. Advances in digital technology are frequently perceived as a “silver bullet” that can ensure effective delivery of anticipated change. However, digital can also expose a company’s inner contradictions, reveal hidden pockets of poor performance and even lead to perceived core capabilities becoming seen as critical weaknesses.
Wrtten by Greg Smith, Mandeep Dhillon, Laurie Guillodo, Xabier Ormaechea and Carl Bate from Arthur D. Little
Developments in retail and EPOS technology in recent years have focused on improving customer service with more efficient and secure payment methods, going from card swiping to PIN and now onto contactless. Implementing modern EPOS solutions is only half of the job, and unreliable or poorly functioning equipment can discourage customers from returning.
Successful retail technology must be correctly maintained in order achieve optimal performance and keep customers happy, placing a lot of responsibility on retail staff. Here are a few pointers of things to remember when aiming to improve customer service via retail technology.
The market is expanding, and has reached a point at which small and independent shops are adopting EPOS and PID systems. In the past, this was not a viable option for financial and logistical reasons, yet the progress in retail technology is enabling businesses of all descriptions to use electronic solutions.
Research conducted by Pay Point and JWT indicates that 25% of businesses find limited access to suitable retail technology is the biggest challenge they face in delivering good customer service.
Implementing the most advanced retail technology possible can make a considerable difference in the quality of experience customers have. Smaller businesses now have trustworthy and affordable retail technology options, opening up a whole new customer base that would previously have shopped elsewhere for convenience.
The installation of advanced retail technology can soon go downhill, however, if proper system management and maintenance is not scheduled. Maintenance can be carried out remotely by service providers, who can monitor all company equipment on a constant basis. Not only does this give businesses and their customers peace of mind about the security of the systems, but it also allows for potential threats to be detected before they strike, and for compromise trends to be logged and used to identify risks in the future. Having pro-active system management in place significantly reduces risk of downtime, helping companies to maintain high standards and a reputation for positive customer experiences.
The security of the network used by retail technology should be a priority for companies. Business networks should flow seamlessly from store level right up to head offices, enabling everybody to do their jobs efficiently, without allowing cybercriminals any opportunity for sabotage.
Decent network providers will help to identify individual companies’ needs, and recommend a network setup that best serves the requirements of staff and customers alike. Unsuitable network options can cause many difficulties on the shop floor, which does nothing for a company’s customer service reputation.
Both the security and functionality of company networks should be maintained by professionals at all times to ensure the most satisfactory customer experience with minimal downtime.
Staff are often the face of the business, and are likely to have the most interaction with any company equipment, so it is essential to give them adequate training for the use of retail technologies.
Introducing essential training sessions for new recruits and frequent refresher courses for all others is important, as even the best colleague can lose momentum.
Ensuring that staff are comfortable and confident with operating retail technology is paramount to delivering outstanding customer service, and maintaining regular pace and flow in a retail setting.
PCI DSS Compliance
The Payment Card Industry’s Data Security Standard (PCI DSS) is a worldwide control on the storage, transmission and processing of secure cardholder data. Security is, of course, of critical importance to card payments, which make up the majority of transactions nowadays. With card payments being made easier – that is, less awkward to make, and therefore, easier to defraud – the security attached to P2PE machines must be of unquestionable quality.
Being PCI DSS compliant is a legal requirement to ensure the safety of customers’ money and identities, and lack of compliance is certain to raise some very serious issues for everyone involved before long.
Retail technology is taking an ever more central position in the everyday operations of businesses, with customers expecting easy electronic payment to be available as part of the good service they receive. It is essential that in return, companies recognise the trust customers are giving them, and treat their sensitive data with appropriate precautions.
Zircon CEO, Dr Amanda Potter, looks at the positive psychological effects that winning awards can have and what it takes to be a winner.
People like winning. The vast crowds that gathered in London and Manchester to celebrate Great Britain’s Olympic and Paralympic heroes was testament to the joy that success can bring. In business, winning can mean all manner of things, from small daily victories to winning major contracts and – yes – winning awards.
Why are awards important though? Why should managers and leaders care about them?
Unlike other business victories like signing a new client, awards don’t add anything to the bottom line – at least not directly. The simple answer to why business leaders should care about awards is that organisations are made of people. As humans, we all want to feel valued and an award can be a powerful validation of the work we have done.
This validation can come at the individual level: for example, if the award win is for a specific piece of work, those that worked on the project will feel a huge sense of pride and achievement. There can also be a validation at the organisational level too. Awards recognising the work of a company are – alongside standard business metrics like rising revenues and profits – great indicators that it is on the right path, focussing on the right sectors and working with the right clients. It is a positive reinforcement of the beliefs and values your company holds dear.
Strength to strength
In other words, winning an award can tell you that as an individual and as an organisation, you are playing to your strengths, and these are extremely important in business. Strengths are also known as energisers, because they are the things that we do well and find motivating and energising.
A business leader who can recognise both his or her own strengths and those of their colleagues will be more likely to keep their team engaged, motivated and successful.
They recognize each other’s strengths and realise the importance of being one ‘cog‘ in the team machine; they value collaborating with others to create a strong team ethic.
Stepping stone to success
Even when we don’t win awards however, this shouldn’t be seen as a failure. Many of the athletes we interviewed for our Winning Attitudes research suffered multiple defeats on the way to their famous victories.
Likewise, all of the entrepreneurs we spoke to had experienced setbacks and adversity on their paths to success, but they all regarded failure as a great teacher.
As TV presenter and entrepreneur Katie Piper explains in ourWhite Paper, “Failure is just practicing for success.”
Equally, the kind of person willing to put themselves and their reputation on the line by entering an award and risking the failure of not winning, are highly likely to be the kind of person who will bounce back if they do not come out victorious initially.
Our research identified key attributes to a Winning Attitude such as Dogged Determination, Realistic Optimism and Unwavering Belief, all of which speak to a resilience and belief that winners have that enables them to keep going when the going gets tough. You have to love what you do – to be using your strengths and doing something that energises you – to push so hard to deliver, even when you face obstacles.
Whether it is a UK Business Award or an Olympic gold medal, prizes are a wonderful validation of both individual strengths and the team ethic that leads to success. So if you’re a winner at the UK Business Awards, enjoy your success, bask in it and the validation of all your hard work.
If you don’t win, don’t worry. Dust yourself off and know that if you can learn from this setback, there will likely be even greater success down the line.
The Awards recognise and reward outstanding achievement in customer experience across all sectors. The Awards showcase the organisations, the teams and individuals who are leading the way when it comes to delivering outstanding customer experiences.
The winners were selected by a panel of judges made up of industry practitioners. During the morning finalists in each of the categories presented their entries to the judges and the winners were announced during a celebratory lunch in the afternoon. Guests were treated to live performances by the Rockabellas – with their unrivalled vintage vocals, they served up a repertoire of toe taping tunes that got the audience out of their seats!
The 3 highest scoring winners – Virgin Money, AXA PPP Healthcare & Eurotunnel Le Shuttle were called to the stage to present a 1 minute elevator pitch to the audience who voted on who they thought should walk away with the title of Overall Best Customer Experience 2015. The votes were counted and added to the scores for each finalist’s written entry and presentation.
Eurotunnel Le Shuttle were announced as this year’s Overall Winner for delivering a fun and relaxing first class travel experience for its canine customers – as well as their owners! The Eurotunnel Le Shuttle team were joined by one of their loyal customers and her Newfoundland dog who took to the stage to collect the Award.
Automotive, Travel & Commercial Service Providers: Winner: Eurotunnel Le Shuttle. Silver: Green Flag
Hospitality / Leisure / Charity: Winner: Dorchester Collection. Silver: Molson Coors in partnership with B2B International
Contact Centre: Large: Winner: AXA PPP Healthcare. Silver: Barclays Premier & Sage UK Ltd
Congratulating the winners, Neil Copping, Managing Director of Awards International, said:
“We are truly inspired by all the best practice showcased at the UK Customer Experience Awards. We have seen many outstanding examples from companies who have embraced customer experience and as a result have reaped the benefits in terms of business growth and customer engagement. The Awards gave us the opportunity to acknowledge those companies and celebrate with both the finalists and the winners.”
The UK Customer Experience Awards are owned by Awards International, operators of the successful UK Digital Experience Awards, the UK Employee Experience Awards & the UK Financial Services Experience Awards.
The Awards are run in partnership with Customer Experience Magazine, Cranfield University School of Management and Awards International and sponsored by InMoment.
The Awards raised £6,000 for chosen charity Barnardo’s to help support the UK’s most vulnerable children.
Honesty and efficiency are the most valued traits by consumers when dealing with companies
Public transport & train operators overtook utility companies in the league table of worst customer experience and service providers, according to the second annual Customer Experience Survey from the service design consultancy Engine.
Nearly one-third (32%) of consumers selected public transport & train operators – narrowly ahead of utilities, which dropped from 40% of votes in 2014 to 31% in 2015. Public services dropped out of the worst three to be replaced by insurance companies (27%), just ahead of broadband & media providers (26%).
At the other end of the spectrum, the retail sector (38%) is judged to provide the best customer service and experience, followed by hotel & hospitality brands (37%) and food service & restaurants (35%).
“Customer experience has a very strong influence on which companies people choose to use,” says Oliver King, co-founder of Engine. “Over the last year, utilities, banking and public services have increasingly focused on this and, as a result, seen the biggest improvement in consumers’ eyes. In contrast, hotels/hospitality co’s and airlines – sectors where people are acutely sensitive to minor flaws in the service – have seen the biggest degradation in people’s regard of their customer experience. These sectors always have to work the hardest in meeting customer expectations.”
Customer experience has the biggest impact in restaurants and retail
Food services/restaurants (cited by 35%), retail (32%) and hotels/hospitality (30%) – the strongest performers – are also the sectors where consumers’ choice of provider is most strongly influenced by the quality of service and customer experience.
King comments: “In choosing where to eat, the customer experience is a much bigger factor for women than men, whilst its importance declines as people get older. In contrast, customer experience becomes a bigger factor with age in where people shop, where they bank and which hotels and airlines they use.
Consumers value honesty and efficiency most highly
Openness/honesty is the most valued trait in the way a company provides its customer service and experience (cited by 49%), followed by efficiency (43%) and reliability (41%). All three of the most valued traits become a bigger factor with age – particularly openness/honesty
“Companies can’t afford to think about what’s important to their ‘average customer’ – that person doesn’t exist,” notes King. “Instead, they need to think of the different customer profiles and tailor the experience accordingly for each one. For instance, older people put greater emphasis on the experience being honest, efficient and reliable, while the younger generation put more store on it being flexible and enjoyable.”
Quality much more of a factor in recommendations than price
The report also reveals that consumers are nearly twice as likely to recommend a brand or company based on the quality of service (62%) than they are on price (35%). This ‘skew’ towards service is even more pronounced for people over 55 (69% vs. 29%).
Why is customer experience important?
Better customer experience leads to increased revenues, greater likelihood of recommendations, process efficiencies and increased retail visits. King explains: “Businesses can more accurately measure the impact that an improved customer experience has on performance. Clients like Virgin Media, Zurich UK and Hyundai Motor Company have publicly cited improvements in those key metrics having used service design techniques which essentially put greater customer focus into designing the experience a company provides.”
The total sample size was 1,024 adults. The survey was conducted online during 22-25 June 2015. The figures have been weighted and are representative of all GB adults (aged 18+).
Engine supports organisations in the innovation, design and delivery of better services. We work to enhance customers’ experiences and to improve business performance across a wide range of industries and sectors.