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Breakfast Leadership Show
Michael D. Levitt
965 episodes
16 hours ago
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Entrepreneurship
Education,
Business,
Management,
Self-Improvement
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All content for Breakfast Leadership Show is the property of Michael D. Levitt and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Show more...
Entrepreneurship
Education,
Business,
Management,
Self-Improvement
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Deep Dive: The Loyalty Illusion: Customer Experience Survey 2025 from PwC
Breakfast Leadership Show
13 minutes
1 week ago
Deep Dive: The Loyalty Illusion: Customer Experience Survey 2025 from PwC
Understanding the Modern Customer Experience: A Guide for Aspiring Professionals 1.0 Introduction: The Great Customer Experience Divide In today's competitive market, the customer experience isn’t just a part of the brand; it is the brand. Every interaction, from a first glance at a social media post to a final click on a purchase button, serves as a referendum on a company's value and trustworthiness. Get it right, and you build loyalty. Get it wrong, and customers will walk away without a second thought. 1.1 The Loyalty Illusion A significant conflict is brewing between how businesses perceive customer loyalty and how customers actually feel. This "loyalty illusion" creates a dangerous blind spot for executives who believe they are succeeding while their customer base is quietly eroding. Executive Belief Consumer Reality ~90% of executives believe customer loyalty has grown in recent years. Only 40% of consumers feel they have become more loyal to brands. This perception gap isn't just a difference of opinion; it's a direct threat to revenue. "About nine out of 10 [executives] say customer loyalty has grown in recent years, but only four in 10 consumers say the same." The business risks of this blind spot are clear: 52% of consumers have stopped buying from a brand due to a bad product or service experience, and 29% have abandoned a brand due to poor customer experience. To close this gap, companies must first understand the entire modern customer journey, which starts long before a customer ever visits a website or store. 2.0 The Customer Journey: From First Glance to Final Click 2.1 Redefining the Starting Line Customer loyalty no longer begins at a company's digital or physical front door. It's now seeded much earlier in what can be called the "experience supply chain"—the connected sequence of interactions that moves a person from curious to committed. This journey often starts in the realm of indirect influence. Key "indirect influence" touchpoints include: A friend’s recommendation A discussion thread on Reddit A product review on an independent site While price remains the single most significant factor for 69% of consumers when making a purchase decision, mastering these early stages of discovery and influence is critical for building the long-term commitment that defines true loyalty. 2.2 What Brands Can Do To win customers in this new landscape, brands must adopt a more holistic and proactive approach to the customer journey. Analyze the Journey: Use data analytics and AI to forensically examine every step of the customer life cycle. This allows you to identify and fix points of friction before they drive potential customers away. Embrace New "Front Doors": Treat online comment threads, product comparison sites, and even AI-generated search results as strategic entry points to your brand. These platforms are where modern discovery happens. Ensure Consistency: Align every touchpoint—from social media chatter to post-purchase support—with a cohesive brand narrative. This consistency builds the trust necessary for a customer to move from awareness to action. Understanding the full customer journey is the first step. The next is understanding what customers truly expect from a brand during that journey. 3.0 Beyond the Basics: What Customers Truly Value 3.1 Table Stakes vs. True Delight In the modern marketplace, fundamentals like fair pricing and product quality are no longer differentiators. They are simply "table stakes"—the minimum cost of entry to compete. The real opportunity for brands lies in their ability to layer personalized, meaningful value on top of these basics to create moments of true delight. Factor Considered a Minimum Expectation (%) Considered a Bonus (%) Good value for price 77% 19% Product/service quality 76% 20% Transparent business practices 58% 35% Personalized experiences 17% 62% However, many companies are struggling
Breakfast Leadership Show