What customers want

According to the article, Executives Have No Idea What Customers Want, "A satisfied customer isn't necessarily a loyal one. Even a satisfied customer who rates a company's service as exceptional will leave that company for one that provides better value...."

So what's important to remember?

Service is paramount: No fewer than 78% of consumers believe service trumps personalized features, and 86% of customers say service defines the brand. Customers rate brands based on their own experience with a company, and virtually all leading brands can charge a premium by making service their defining characteristic.

So what can you do to reconnect with your customers?

Cover the Basics First: Help customers when they need it, and present personalized offers only when they make sense. Our data say customers don't want to hear about special offers or add-ons when they need service. Companies should make those offers only at times when and via channels where customers are receptive.

Ensure "One and Done": Companies need to refocus their customer service on resolution, not speed. Customers want a "one-and-done" experience, and they don't care how they get it as long as their problem is solved quickly. Companies should favor policies that empower employees to resolve issues without needing to transfer to the customer or escalate the issue, even if it means taking a little more time.

Take and Outside-In Approach: Create multiple options, using multiple channels, whereby customers and employees can provide feedback and incentivize decision makers to act on that feedback. Resolution has to be immediate, or it won't help.