ABOUT ROSE-TINTED SPECTACLES
AND THE CUSTOMER IS KING

LOOKING THROUGH ROSE-TINTED SPECTACLES MAKES THE WORLD SEEM BEAUTIFUL …

Bildschirmfoto-2016-08-26-um-17.34.16

… but this is merely an optical illusion. Erich Kästner wrote in his book “When I was a little boy”: “If you look through rose-tinted spectacles, the world appears to be rosy. The view may be pretty, but it is merely an optical illusion. It is a result of the spectacles; that is not how the world really is.”

Paycoach takes a very active part in discussions about what retail will look like in the future. We often realise that many of the people involved in retail seem to be wearing rose-tinted spectacles when it comes to digital customer retention. They think that their customer retention world is rosy. They send out a few newsletters calling the customer by name, address the customer in person at the checkout using the name on their credit card, and send them a birthday message. And they think that is enough to guarantee customer retention.

Let us hear what else Kästner has to say: “Anybody who confuses the two will be surprised when life takes the glasses off their nose.”

Whether in retail or in the service industry, in the digital or the bricks and mortar trade, doing what almost everybody else does is not enough. In other words, the customer retention world is not rosy. This is merely an effect of the glasses through which you are looking at your customers and their behaviour. As a result, it is best to look at the customer retention world without any kind of optical illusion.

LEARN MORE …

THE CUSTOMER
IS MORE OF A KING
THAN EVER BEFORE!

20160214-R6B0361-600x400

Nowadays, retailers and service providers no longer need to make kings out of their customers. The customer is more of a king than ever before, and retailers and service providers must endeavour to ensure that the customer does not lose this royal status.

Just like kings, modern customers are all-powerful and, more often than not, have mastered their powers digitally. Information, prices and services are constantly available to them on their smartphones. It is no longer so easy to deceive them. The only thing that still impresses a “king customer”, is trust. Customers are used to being able to control everything. Suddenly, they are shown what trust means.

Trust is established when the retailer or service provider does not humbly indulge the customers’ new-found power, but instead surprises them. For instance if a customer happens to lose track of their expenses and can no longer meet their financial obligations after a purchase. To immediately give up on them would be reckless in today’s world, because with new, modern means of communication, they could quickly spread the word throughout their entire “kingdom”.

And in the eyes of many people, the customer would not be the guilty party. Instead, the right approach is to coach the customer through the unpleasant situation and offer them trust while you help resolve the payment difficulty.

LEARN MORE …

ABOUT ROSE-TINTED SPECTACLES
AND THE CUSTOMER IS KING

LOOKING THROUGH ROSE-TINTED SPECTACLES MAKES THE WORLD SEEM BEAUTIFUL …

Bildschirmfoto-2016-08-26-um-17.34.16

… but this is merely an optical illusion. Erich Kästner wrote in his book “When I was a little boy”: “If you look through rose-tinted spectacles, the world appears to be rosy. The view may be pretty, but it is merely an optical illusion. It is a result of the spectacles; that is not how the world really is.”

Paycoach takes a very active part in discussions about what retail will look like in the future. We often realise that many of the people involved in retail seem to be wearing rose-tinted spectacles when it comes to digital customer retention. They think that their customer retention world is rosy. They send out a few newsletters calling the customer by name, address the customer in person at the checkout using the name on their credit card, and send them a birthday message. And they think that is enough to guarantee customer retention.

Let us hear what else Kästner has to say: “Anybody who confuses the two will be surprised when life takes the glasses off their nose.”

Whether in retail or in the service industry, in the digital or the bricks and mortar trade, doing what almost everybody else does is not enough. In other words, the customer retention world is not rosy. This is merely an effect of the glasses through which you are looking at your customers and their behaviour. As a result, it is best to look at the customer retention world without any kind of optical illusion.

LEARN MORE …

THE CUSTOMER
IS MORE OF A KING
THAN EVER BEFORE!

20160214-R6B0361-600x400

Nowadays, retailers and service providers no longer need to make kings out of their customers. The customer is more of a king than ever before, and retailers and service providers must endeavour to ensure that the customer does not lose this royal status.

Just like kings, modern customers are all-powerful and, more often than not, have mastered their powers digitally. Information, prices and services are constantly available to them on their smartphones. It is no longer so easy to deceive them. The only thing that still impresses a “king customer”, is trust. Customers are used to being able to control everything. Suddenly, they are shown what trust means.

Trust is established when the retailer or service provider does not humbly indulge the customers’ new-found power, but instead surprises them. For instance if a customer happens to lose track of their expenses and can no longer meet their financial obligations after a purchase. To immediately give up on them would be reckless in today’s world, because with new, modern means of communication, they could quickly spread the word throughout their entire “kingdom”.

And in the eyes of many people, the customer would not be the guilty party. Instead, the right approach is to coach the customer through the unpleasant situation and offer them trust while you help resolve the payment difficulty.

LEARN MORE …