First, how do you find out what really matters to customers? Companies that excel at this do two things: they streamline their operations and take out cost, and they create new experiences and tap new sources of value. Many organizations simply take a “problem view”—treating internal processes as a cost that needs to be reduced, and looking for customer pain points that need to be eliminated. That’s a good place to start, but if it’s the only view, it misses out on the idea of creating additional customer value.
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The recent news that a direct rail freight service had arrived in Barking, East London, from China via the ancient ‘Silk Road’, generated a flurry of speculation about the potential of this new route. However, the truth and implications of this are more complex and potentially far-reaching.