Why was the research conducted?The reason we why we conducted the survey was to help us all better prepare for a New Age for life after reset!
How was the research conducted?An online survey was conducted with n=1,443 respondents who are contactable via email.
What are the key findings of the research?1. The Call For Value: pay careful attention to providing your best possible price, supported by convincing and tangible benefits. Rely less on whimsical, emotive buying. Remove unnecessary features and focus on fundamental quality of products and services. Be careful not to attempt to discount your way out of the crisis. Value is not only about price.
2. Innovate for Needs Satisfaction: to gain a competitive advantage pay attention to, and spend effort on properly understanding customers’ needs and how well these are being satisfied. Focus product and service innovation on needs satisfaction before seeking differentiation or competitive advantage. Understand the triggers and barriers to purchase, and innovate to stimulate the triggers and overcome the barriers.
3. Engaged Customer Service: improve overall employee engagement and working efficiencies to develop competitively superior customer service. Understand the role of highly engaged and energised employees in achieving customer loyalty, and apply efforts to grow a culture of engagement.
4. Distance Retailing: develop and bolster all efforts to provide consumers with the opportunity to select, purchase and fulfil products and services remotely. Rethink product forms and packaging to facilitate long life, bulk buying, medium-term storage as well as ease of systematic dispensing for usage through time.
5. Technology: don’t cut back on efforts to enhance IT and especially the digital, internet-based links consumers have with your business. In fact, intensify these. Focus efforts on enhancing digital platforms to make a huge difference to customer experience, especially with respect to browsing, purchasing and taking delivery of your brands.
6. Local & Artisanal: whether or not your brands are global giants, think, or at least support local. It’s not as much national pride, but comfort huddling that underlies this neighbourhood sentiment.
7. Sanitisation & Hygiene: it almost goes without saying that all transactional interactions involving human contact need to have careful plans and protocols in place to ring-fence customers against perceived or real hygiene threats.
8. Simplicity & Transparency: streamline and clear out the small print, embedded fees, hidden clauses, exclusions and all transactional complications that run the risk of presenting obstacles to purchase or causing consumers diminished confidence in your products and services.
9. Custom-made Solutions: provide customers with what they want avoiding plug-and-play solutions or overbearing upsell pressure. Consumers will repay fleecing with disloyalty.
10. Trust & Ethics: take care to build consumer trust, make positive connections and focus on human and family values. Become closer to your customers, understand their needs and emit positive vibes to stand out from the clutter of negativity around us.
Contributor's Name: Gordon Hooper