Rich brand, poor brand
Five takeaways adapted from the bestselling book Rich Dad Poor Dad that will change the way you see CX.
5 minute read
When you want to be noticed by a greater number of potential customers, 'business as usual’ won’t help you stand out from the crowd. You need to get brave and bold if you want to deliver a memorable customer experience. Start by thinking about the kind of journey your customers would design for themselves2.
‘Poor’ Brands rely on old customer journeys designed only to benefit the financial needs of the business.
‘Rich’ Brands create new customer journeys designed to benefit the needs of their varied customers in ways that pay greater dividends.
Don’t be afraid to stray from the standard path and invest in creating a fun, easy and enjoyable end-to-end journey your customers will remember and recommend.
Don’t try to copy what your competitor is doing. Your focus should be on delivering the best experience for customers in a way that only you can. When you make the customer experience representative of your core brand ideals, you give customers a good sense of what they can come to expect from a relationship with you in the long-term3. Make a practical promise, and then deliver on it.
‘Poor’ Brands make promises that their CX does not deliver on.
‘Rich’ Brands create a series of CX touchpoints that deliver on the inherent promise of the brand.
Make sure to set customers’ expectations from the outset, and you’ll be on the path to a good relationship.
When you embrace change and invest in new ways of thinking, you begin to welcome exciting opportunities you might normally have ignored. As a business, especially when it comes to customer interaction, there is almost always room for improvement. Every touchpoint should be representative of your brand's current positioning and relationship to your customers.
‘Poor’ Brands rely on aging survey-based measurement systems that don’t speak to their customers’ needs.
'Rich’ Brands collect smartphone and interaction data to yield deeper insights, while harnessing predictive analytics to anticipate behaviours and connect more closely with their customers, thereby identifying CX issues and opportunities in real time.
Your organisation should always be challenging itself to do better. Cast off your old habits and give some thought to what's outside your comfort zone.
The ability to effectively communicate ideas to your customers and have them be understood is one of the most important skills of running a business. The other key skill is the ability and willingness to listen and to hear. Because CX is more than just a blast of messages from you to your customers.
Instead, it's an ongoing two-way conversation that lasts for as long as you want to maintain the health of that relationship. You should constantly be honing your communication skills, and taking feedback from your customers as to where you might be tripping them up on their journey4. If they’re not picking up what you’re putting down, that’s not on them, that’s on you to express the idea in a way they can more easily understand. Brands have to invest in the customer experience if they want to begin a relationship that leads to customer loyalty.
‘Poor’ Brands make a one-off statement, refuse to elaborate, and leave the chat, ignoring their customers.
‘Rich’ Brands start an ongoing conversation with customers, because the more you can understand about who they are and what they want, the better you can assist them.
Good CX is a dialogue, not a monologue. Another important communication tool you need is the ability to listen to your team. Let them tell you about their experiences with your customers and listen to any suggestions they may have to help improve the customer experience.