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uncommon practice. Every day countless companies miss their opportunity to build
profits. The opportunity is there, but they don't grab it. Why? ...
... There are now more than 30 extended brands of Virgin (Uncommon Practice,
2002). It has become one of the world’s top 50 brands. ...
... It is a more and more uncommon practice but it is still widely seen anywhere in
the range of open (like the USA) and closed economies (Like Cuba) being less of ...
... significant. Eleanor was cheated on, not an uncommon practice, and then
locked in a tower to only be aloud out on holidays. Alice ...
... Following this was a series of hearings and trials, which resulted in the death
of 20 people. This was not an uncommon practice used during that time. ...
Submitted by KarenB on June 19, 2008
Category: Business
Words: 3294 | Pages: 14
Views: 74
Popularity Rank: 106,407
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Every day countless companies miss
their opportunity to build profits. The
opportunity is there, but they don't
grab it. Why? Our research suggests
that they don't act on the right
issues. For example, if you ask most
executives what comes to mind when
they think of their brand, they will
reply with such words as identity,
positioning, logos, and signage—but
not with the customer experience,
which in fact is the brand in
exemplary companies.
If you ask executives what they consider essential to creating differentiating
customer experience, they rarely cite the leadership of top management.
They should. Forum’s research shows that building customer loyalty is exactly
what is on the agenda of top executives in today’s exemplary companies.
Similarly, if you ask them what metrics are critical to monitor on a day-to-day
basis, they will typically identify revenue, same-store sales, inventory turns,
occupancy rates, and other “lagging indicators” of business performance.
Instead, Forum research shows that executives in exemplary companies focus
on leading indicators—on the drivers of the customer experience such as “wait
time to check into a hotel,” “frequency of return visits,” or “the number of
attendees at a customer event.” For example, Harley-Davidson sponsors HOG
(Harley Owners Group) events for customers to promote the brand and build
customer loyalty. They know from experience that the number of attendees at
these events is directly correlated to follow-on revenue. These are just a few
examples of metrics that are managed daily in companies that provide great
customer experiences and deliver best-in-class return to shareholders as a
result.
Exemplary companies know how to build profits by delivering a Branded
Customer...
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