How To Deliver Great Customer Experience At Scale
Strategy-Business.com reports that as travel restrictions and lockdowns were announced around the world in the spring of 2020, businesses had to quickly rethink their customer experience strategy. Unable to continue in-person interactions, many companies looked for new ways to meet their customers (and identify new customers) online. Recent indications are that some of these trends will endure: Forrester predicts at least 80 percent of the B2B sales cycle will happen in digital settings moving forward. And according to eMarketer, “buy online, pick up in store” sales in the U.S. are expected to reach US$58.5 billion this year — a 60 percent increase over 2019.
For all companies, such shifts underscore the need to attract, retain, and build loyalty with customers. Yet in the 2020 Achieving Customer Amazement survey, U.S. companies across a variety of industries fell short of customer expectations by 38 percent, and 96 percent of customers said they would leave a company because of a bad customer experience. As a chief customer officer, Dutta Satadip says that he has found that such findings often reflect an approach that seeks to plug the hole before more water can escape. For example, many leaders have increased spending on digital capabilities and digital infrastructure. Although critical, these investments alone will not help create the scale companies need. Leaders are also investing heavily in customer support or other customer-facing teams, but this results in costs that increase linearly alongside business growth, impeding scale.
McCormick Celebrates 20 Years of Flavor Forecast
Over the past two decades, the McCormick Flavor Forecast has identified top trends and ingredients that have shaped the future of flavor. As a global leader in flavor, these discoveries have been foundational to food and expanded how we cook, flavor and eat in exciting ways. Releasing as a celebratory 20th edition report, the McCormick Flavor Forecast Looking Back to Look Forward reflects on the evolution of the most influential flavors, culinary trends and recipes.
From pumpkin pie spice and chamoy to dukkah and turmeric, these forecasted flavors have seen incredible success across consumer products, restaurant menus and online recipes. In a unique year that has brought home cooking to the forefront, this report focuses on four themes that continue to shape our tastes as we yearn for comfort and familiarity, yet also a bit of fiery and global experience.
Netflix Subscriber Loyalty Rates Highest Among SVOD Competitors
MediaPlayNews.com says new data from JustWatch, an international streaming guide across 46 countries, finds that Netflix subs — unlike competing service members — are also quite loyal to the SVOD pioneer.
Netflix users are less likely to use another streaming service additionally whereas 90% of Amazon Prime Video users also use Netflix. When it comes to Hulu and HBO Max, Netflix and Prime Video users behave similarly. Notably, Disney+, which launched in November 2019, is more likely to be used by Prime Video users compared to Netflix subscribers.
Fanatics acquires WinCraft
Sports merchandise company Fanatics has completed another acquisition to strengthen its position in the licensed sports apparel sector as speculation increases the company will eventually go public.
The Michael Rubin-led company purchased licensed sports merchandise manufacturer WinCraft, the company told CNBC. WinCraft chairman Dick Pope is retiring and decided to sell the company that started in 1961, Fanatics said. Terms of the acquisition were not disclosed.
With the purchase of the Minnesota-based WinCraft, Fanatics will have a more significant presence with non-apparel merchandise. WinCraft sells home, office and automotive sports-themed merchandise, such as clocks and banners.
Canada's Leading Companies Commit to Meaningful Action on Climate Change
Maple Leaf Foods and a coalition of Canada's leading corporations, shared a unified commitment to four strategic actions to protect the environment and ensure a sustainable, equitable and healthy future for all Canadians.
Companies that have signed the sustainability commitment to date include Maple Leaf Foods, CN, and Celestica Inc.
Their Paris Climate Accords-aligned commitments cover four key areas to be addressed by each signatory company in its own sustainability strategy.