EP Business in Hospitality Issue 53 - April 2015

Carolyn Hails | Opinion
Inside the
mind of the
customer
In 2015, knowledge is power – power to the customer. Armed with social media and real-time
trends, people’s expectations are high. So, how do you survive in this brave new world?
We live within a superfast,
well-informed society with
real-time trending and social
media channels instantly feeding the
knowledge of consumers. Armed with high
expectations, customer needs and desires
are more demanding then ever. The game
has changed; to survive, we have to
compete head-on with the outside world.
Forget the dark days of winter when
consumer spends are traditionally
restrained and cash sales are depleted – we
must focus on change. Spring is the perfect
time for brushing away the cobwebs and
planning something fresh and exciting for
your catering facilities. It doesn’t have to
be anything too grand; often the simplest
of ideas drive the biggest rewards for your
customers and for you.
Re-engage with your building, take the
time to talk to your colleagues, clients and
customers; get to know who they really are
and, most importantly, what they really
want. Are they satisfied? What are their
expectations? Did you know that 96% of
unhappy customers don’t complain, they
simply don’t come back?
Satisfaction is the best indicator of how
likely it is a customer will return to your
facility and how much they will spend. It,
therefore, has to be a key element of your
business strategy. Truly satisfied customers
contribute 14 times more revenue than
somewhat dissatisfied ones. We saw in 2014
that value for money was still a top priority
for the majority of consumers, but it’s the
value of the product or service that prevails,
not price alone. The true driver to increasing
cash sales is not just to create value, but also
to provide an experience.
According to Forrester’s Customer
Experience Index, customer-centric
“
Satisfaction is the best indicator of how likely
it is a customer will return to your facility and
ho w much they will spend. It, therefore, has to
be a key element of your business strategy. Truly
satisfied customers contribute 14 times more
revenue than somewhat dissatisfied ones
”
companies have gained 43% in overall
performance compared to a 33.9% decrease
for those companies that have neglected the
customer experience.
In 2015, companies will recognise that
a better customer experience will improve
customer satisfaction, increase loyalty and
improve retention.
It also generates trust; among the top
British companies that have gained our trust
in recent years are John Lewis, Virgin
Atlantic, QVC and First Direct.
To quote Sir Richard Branson, “The
brands that will thrive in the coming
years are the ones that have a purpose
beyond profit.” And he believes the
three ‘Ps’ to business success are
‘Profit, People and the Planet’.
So let us compete with the outside
world, take a fresh look at our facilities
and get inside the mind of our customers.
Co-create new initiatives and service
offers with them and for them.
Inclusion is integral for future loyalty.
Remember, we must stimulate, personalise
and delight to win hearts and minds. To do
that, we must create the best possible
customer experience.
Carolyn Hails
Director of Thinkspace Partnership Ltd
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