MMC 3420 Chapter Notes - Chapter 5: Retail, Customer Experience, Digital Revolution
27 May 2018
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Why the Customer Experience Matters by McKinsey and Company
• Learning what customers experience from purchase, and working to make the journey to
buying a product as simple, clear, and efficient as possible
• What it means to put a customer’s needs and wants at the center of a business strategy
• Putting customer needs at the center of what a company needs to do, and ensuring along
all the “touchpoints” that the customer has a flawless experience
• Customer that is satisfied with the company can be lower cost to serve, but higher
potential for loyalty and recommendation
• Customer journeys – typically need more than one customer touchpoint to satisfy this
need
• Touchpoints – ways for the customer to fulfill their need or solve that problem
o The combination of touchpoints is the journey
• Energy Space – up to 18 touchpoints with customers to organize a customer move from
one house to the other
o Went from six weeks to under one week, and increased customer satisfaction by
more than 30%
• The complexity comes from the company, through new IT systems, regulations, legal
requirements, etc.
• Digital revolution where customer demands are becoming higher and higher
• Bigger companies like Apple, Google, Amazon, are raising the bar in terms of customer
expectation
o B2C (business to consumer)
• Customer experience is a perception
o Observed performance that the customer has – its expectation
o So increasing performance is good, but have to take into account what the
customer expects from your company
• Sometimes, giving a realistic expectation of what the customer can expect (12-15 days
for delivery) created a more positive experience when it was delivered on
• Performance angle is often overlooked (too busy focusing on financial performance)
• Developing better customer relations
o Side benefits
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