360° Club London: Competitive Advantage Through Customer Experience

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Grange St.Paul's Hotel

10 Godliman Street

London

EC4V 5AJ

United Kingdom

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Customer experience remains one of the most important battlegrounds for companies in 2017. The opportunity to compete via product differentiation has almost entirely disappeared, so companies are focusing on the wrapper – customer experience. Only recently McKinsey discovered that B2B & B2C businesses who are optimising customer experience are growing 10% faster and exceeding the gross margins of their competitors by 26%. Companies such as Charlotte Tilbury, Joe & The Juice and Spotify are three prime examples of organisations using technology to innovate around CX and gain competitive advantage.

This is a genuine opportunity for small & mid-tier companies. As we enter into 2017 we see a market that is still full of well-intentioned companies who are falling short when it comes to customer experience. Their primary issues are two-fold:

Firstly, rarely do businesses have a complete view of their customer. Typically, they have a fragmented view, one that sits across different channels. This is due to the siloed, unintegrated nature of business operations and systems. There is much debate about whether a single view is possible, and ultimately it depends on your definition. But what is certain is you need to continually improve your customer view - and make it better than your competition’s view - in order to improve your customer experience.

Secondly, some companies misinterpret their customers’ opinion of them. At our last club event, Matt Ballantine, Angel of Disruption at Stamp London, emphasised “you’re less likely to be disrupted if you are in sync with your customers’ view of your value proposition.” This is about truly knowing your customer and understanding where they see the value in what you do. It is about walking in your customers’ shoes and mapping their journey. History is littered with companies who got this wrong.

You can watch Matt and read the last evening’s insights here.

So, why are the CXO’s of small and mid-tier companies prioritising customer experience in 2017 above all else?

In a word “agility”. Your business can move faster. You can achieve a complete view of your customer quicker. You can break down silos easier. You can listen to your customer more intently, and identify the ‘fracture points’ of the customer experience. All of which means, you can adapt and align your business in a faster, more responsive way than much of your competition. It starts with that all-important customer view.

So, is the customer experience you provide better than your competition? Do you have a single view of your customers across channels & systems? Can you easily identify your most profitable customers?

If you answered “no” to these questions you need to join us.

We’re discussing and debating this topic at the 360° Club’s next networking evening on the 1st March 2017. Our ultimate goal is to unite senior leaders of fast-growth organizations to evaluate best practices and exchange insights via a panel of expert speakers and guests.

We will be meeting at 18:00 at the SkyBar at the Grange St Paul’s Hotel, for networking, drinks and canapés. This will lead into our opening speaker, more drinks and canapés and then our famous “question time” expert panel session.

If you would like to join us then please register through the link below and we look forward to welcoming you on the 1st March.

Date and Time

Location

Grange St.Paul's Hotel

10 Godliman Street

London

EC4V 5AJ

United Kingdom

View Map

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