Focus on customer experience

According to Business Week, customer experience is one of  today’s great frontiers of innovation.

Here’s why:

  1. Raving Fans   Superior customer experiences are still so novel that once we encounter one we tend to talk about it to others.
  2. Loyalty –  A stable revenue base of existing customers makes it much easier to increase both the top and bottom lines.
  3. Premium Pricing –  Customers will gladly pay more for an experience that is not only functionally but emotionally rewarding.
  4. Differentiation – … Sustained positive customer experience reduces the possibility of churn afterwards.

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