There is research that states that about 80 percent of CEOs of big and medium businesses believe that they are indeed delivering high quality products and services for their customers. But, what is actually surprising is that only about 8 percent of their customers agreed to their claims of superior quality. What most entrepreneurs don’t realize is that there are so many varieties available in the market today, and the customers have a ton of choices. So, if the brands don’t improve their customer experience, they will probably lag in build wealth and positive brand image for their customers.
Most often what companies tend to do is they make elaborated promises to their customers, and then fail when it comes to deliver-ability. So, in an attempt to create an impeccable impression, companies then to risk their businesses on established myths of the past, that just eat away the business, slowly. When the firms are taking advice from the wrong side, they might develop incompatible programs or use outdated technological tools, and none of these help them get actionable insights. So, in order to save you from this mess, we bring to 3 myths that you need to avoid, to save your brand from the probable damage. Read along:
The first big myth that rules the industry is the one which says, “Big failures hurt the brand, much more than the minor incidents.” While it is obvious that big mistakes tend to have a more catastrophic effect on the business, but to ignore the smaller issue might be the bigger mistake. A pattern of little failures can lead to unpleasant customer behavior.
The second one on the list is the one that says, “One or two bad experiences can cause the customers to leave the brand.” While a series of mishaps can be annoying, but one negative service may not be it. If that were true, 80 percent of the big brands would be out of business, in a month. The actual truth is, unsatisfied customers will leave the door, but only if they feel they have better alternative somewhere else. Customers will tolerate a few bad experiences, if they are being compensated somehow.
The third myth is, “Word of mouth is better over other means of advertising.” While it is true that customers tend to trust a recommendation from a friend or colleague, but while these recommendation might cause the initial spark, it won’t be able to keep the fire burning for long.