There was a recent article in the NZ Herald on Wednesday 31 October which talked about the retail giants SEARS facing receivership.
In the article it talks about how one of the largest and successful retail chains in America was about to be put into receivership with debt of 11.3 billion dollars US and assets of only 7 billion. It was interesting to read this article where as a brick and mortar retailer, SEARS had struggled due to a series of blunders, financial oversights and mis-management. In the article it states that the ultimate business failure was that it did not acknowledge the needs of its customers and displayed a staggering inability to embrace and implement the sorts of technology the customer expected. I look at this in a NZ concept and I still continue to see many of our service and retail providers encouraging their clients to use on-line platforms or on-line portals where one of the key service propositions is actually the face-to-face connection with the customer and holding relationships in the real. Many of NZ customers want to have the loyal transaction with a business that they can trust.
This is why this trust concept is so important in business today and the work that we are doing with many businesses is around how to deliver this level of trust and engagement with the customer in real and ensuring that it provides your customers with value which keeps them coming back over time. The last thing that we want to do is to encourage clients to use unconventional formats without business structure and position correctly structured beforehand. Can I ask you to consider today “how are you connecting with your customers in the real, bringing them into your environment wherever possible and creating greater experiences that will keep them coming back to see their trusted advisor.
One of our key skills is to help companies identify if service propositions that brings the customer into your environment for a productive transaction.