When we first set up our businesses we are 100% convinced that we can and will do a better job than the competition. We list out the factors that we will do better, that we’ll relentlessly focus on until we have this wonderful business that clearly offers a “superior experience”. We smirk, snigger and discuss with our friends and colleagues just how badly the competition is – we even allow ourselves to believe that our enterprise can’t go wrong, that it will be a “no brainer” since our offer will be so much better.
But what is the reality? What are the actual facts? What exactly does your customer think of this supposed “superior experience”
The management consultancy firm Bain and company undertook some research on the subject of which businesses supply a “superior experience”. They surveyed a total of 362 firms and 80% believed that they truly offered a “superior experience for their customers.
When they surveyed the customers of these businesses though the story was a little different. Only 8% of these businesses were rated as superior.
Where do you fall?
Are you in the 20% who know you don’t offer a “superior experience” – in which case good luck in the current economic climate.
Are you in the 8% who genuinely do offer a “superior experience” – in which case I bet you’ve worked very hard at it and are in that category of clients (of mine) who don’t seem to have noticed that there eve is such a thing as a “credit crunch” or…
Are you in the 72% of businesses who are living in denial? Are you falling asleep at night worrying about the business and thinking that you can’t do any better but feeling the crunch hitting you hard?
If you are in the last category it’s time to get really realistic about your business and wake up. It’s time to really push the boat out and genuinely provide a “superior experience” because if you’re not it’s going to be a VERY bumpy ride.