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The average age of an S&P 500 company is under 20 years, down from 60 years in the 1950s, according to Credit Suisse.

Disruptive technology is seen as one of the driving forces behind this reduction, as well the increased buyout activity starting in the 1980s.

As the average lifetime of companies has reduced, many have begun doing more to innovate to improve their products/services and building customer-centric cultures.

We’ve seen a rise in The Innovation Lab. Companies such as Delta Air Lines, Target, Google, Pfizer, Marriott, Autodesk, Fidelity Investments, Ford, Verizon, and Stanley Black & Decker have all announced a lab. …


Originally published at www.rawnet.com.

Getting started

I’ve outlined 6 steps you can take to help your organisation become more customer-centric.

No business can survive long without exceeding its customers’ expectations and most understand that. Yet only a few organisations dedicate the same amount of time and effort to customer centricity as they would to business processes such as the accounting process or legal policies.

Adapting to put the customer at the heart of the business requires a potentially enormous amount of change. …


As you are aware (and probably bored of reading about), customer experience is now a key point of differentiation. With new products and services entering the market faster than ever, brand loyalty is decreasing, and the increased competition continues to shift power from the brands to the consumers.

Consumers today don’t want a purely transactional relationship with a company, they want a positive and memorable experience. It’s this personalised, thoughtful customer experience that makes them feel special and in turn, makes a brand stand out from its competition.

Customer-centric companies are 60% more profitable than companies that do not have this focus. …

About

Nick Phipps

Customer Experience Strategist at Rawnet.

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