The following is content taken from John’s new book The Relationship Economy, Building Stronger Customer Connections In The Digital Age. (October 2019 Greenleaf Books)
A study by the Relational Capital Group revealed that 89 percent of senior leaders believe that relationships are the most important factor in their success year over year. However, the study also revealed that only 24 percent of these leaders actually do anything intentionally to promote building those relationships. Finally, the study further indicated that less than 5 percent of organizations actually have any specific strategies for helping their professionals develop and strengthen the relationships required to achieve their goals.
3 Strategic Ways To Dominate The Relationship Economy
- Use technology to perform basic tasks, alternative convenience for customers, enabling employees to focus on what is most important: Building relationships that result in higher customer loyalty, retention, lifetime value, and job satisfaction.
- Build a culture that creates emotional connections with your employees.
- Incorporate relationship building training for new and existing employees
See How One Company Went From $80 Million to $120
The Experience Disconnect
PWC released a study titled Experience is Everything highlighting some great consumer insights and major mistakes too many companies are making today, which they referred to it as The Experience Disconnect. Which are businesses are jumping the technology/digital bandwagon but are failing to invest in the aspects of customer experience that are the most meaningful. Such as:
- Human interaction matters now—and 82% of consumers want more of it in the future.
- Over 80% of the top-performing companies report paying close attention to the human experience around digital and tech.
What Drives Customers Away
The study also showed the top thirteen reasons people stop doing business with companies. Three of the top four reasons were attributed to employee performance and (lack of) training.
- Bad employee attitude
- Unfriendly service
- Untrusted company
- Unknowledgeable employee
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Order John’s Newest Book!
It is finally here (October 2019), John DiJulius’ new book, his best work, The Relationship Economy, Building Stronger Customer Connections In The Digital Age. This book could not be timelier in the world we are living in.