“Amazon did not kill the retail industry.
They did it to themselves with bad customer service.
Netflix did not kill Blockbuster.
They did it to themselves with ridiculous late fees.
Uber did not kill the taxi business.
They did it to themselves with the limited number of taxis and fare control.
Apple did not kill the music industry.
They did it to themselves by forcing people to buy full-length albums.
Airbnb did not kill the hotel industry.
They did it to themselves with limited availability and pricing options.
Technology by itself is not the real disruptor.
Being non-customer centric is the biggest threat to any business.”
– Alberto Brea
While certainly a component, technology, by itself, did not “kill” these industries. Rather, it was the fact that businesses using new technology decided to enhance these industries in a customer-centric way. The real disruption was new businesses investing extra time and resources to improve the customer experience.
A customer-centric company is more than a company that provides a good service. From the first interaction with your brand to the post-purchasing stage, customer-centricity means providing a great experience throughout. It is recognizing the behavior of customers, their needs and ensuring the entirety of your business is focused on meeting them.
In a Five9 survey, 95 percent of respondents said that a positive customer experience is very or somewhat likely to make them continue to do business with a company. It can be challenging to keep up with the changing needs and expectations of today’s modern consumer. Thankfully, new and evolving technology enables businesses to provide more of what their customers want.
In today’s customer experience era, failing to utilize this technology leaves you at risk of being left behind. A lack of customer-centricity will be the demise of any business.
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