Delivering a high-quality customer experience on a consistent basis converts customers into enthusiastic brand advocates – people who genuinely want to tell their friends and colleagues about the experience your products and/or services deliver. And they might even post on their social media platforms, which is incredibly strong (and essentially free) marketing – boosting levels of … Read more
The Lean institute say 95% of process activities associated with manufacturing ultimately add no value to the customer and HCL Technologies say 70% of the engineering changes which delay production are due to brands trying to retrospectively correct issues with design to deal with assembly, cost & quality problems. Design for excellence (DfX) is a … Read more
Design for excellence (DfX) is a systematic and proactive approach to design that uses the knowledge and experience of experts in other parts of the product development process (test, manufacturing, operations, support, etc.) to ensure the final product can be realized at reasonably low life cycle cost while still meeting reliability, quality, durability, and customer expectation targets. DfX … Read more
According to a report by Fortune Business Insights, the global loyalty management market may expand significantly, increasing from $6.47 billion in 2023 to $28.65 billion by 2030. This represents a compound annual growth rate (CAGR) of 23.7% over the forecast period, which signifies that companies must ensure a better customer experience for their clients. “Customer … Read more
Customer journeys include many things that happen before, during, and after the experience of a product or service. Journeys can be long, stretching across multiple channels and touchpoints, and often lasting days, weeks or longer. Brand awareness, converting prospects to customer, providing long-tern value to create loyalty and advocacy are all part of the journey. … Read more
Lifetime Value (LTV), sometimes referred to as Customer Lifetime Value (CLV), is the average revenue a single customer is predicted to generate over the duration of their account. Customer Acquisition Cost (CAC) is the average expense of gaining a single customer. The ratio of lifetime value to customer acquisition cost helps you determine how much … Read more