How to Survive the Customer Expectation Triangle of Death
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Transcript of How to Survive the Customer Expectation Triangle of Death
CUSTOMEREXPECTATION
@AgencyNation
How to Survive the
Triangleof Death
Here's the truth:
No matter where in the independent insurance industry your business falls, (agency, carrier, vendor, etc)...
Today’s, insurance
buyers areless influenced
by traditional marketing activities
and more demanding on the customer
experience we deliver.
Imagine a triangle.
Imagine a triangle.
Good Service
Imagine a triangle.
Good Service
Ease of Business
Imagine a triangle.
Good Service
Ease of Business Competitive Price
Good Service
Ease of Business Competitive Price
This is called…
Good Service
Ease of Business Competitive Price
This is called…The Customer Expectation Triangleof Death.
What this means:
Customers have expectations in terms of what they expect from a business or service provider.
Before theInternet and
advanced logistics,customers only
expected us to be able to provide two sides
of that triangle.
But with the advent of the Internet, regardless of what it is you sell, you're EXPECTED to provide all three sidesof that triangle.
You must havea great product,
you must havea competitive price,and you must be easy
to find and easy to do business with.
Here’s the rub:
If you market your business on any of the three points of the triangle, you ultimately are going to fail as well.
Greatcustomer service
is no longer adifferentiating factor
because of Google reviews, TripAdvisor,
and Facebook.
If you’re not delivering a good product or a good service, people know and don’t do business with you.
Comparative rating has popped up in
almost every industry.
They expect your business to be able to provide all three sides of the customer expectation triangle.
Good Service
Ease of Business Competitive Price
So what ultimately sets your business apart if …
Good Service
Ease of Business Competitive Price
So what ultimately sets your business apart if …
Good Service
Ease of Business Competitive Price
So what ultimately sets your business apart if …
Good Service
Ease of Business Competitive Price
So what ultimately sets your business apart if …
Good Service
Ease of Business Competitive Price
So what ultimately sets your business apart if …
no longersets you apart?
It’s your STORYand the EXPERIENCEthat your story provides to the customers or clients in which you do business with.
How does doing business with you make that
customer feel?
Do the beliefs ofthat customer align
with your beliefs asa business or
a provider or a consultant?
Do you convey a genuine emotional
connection with your clients or
customers?
Today, it is so much about the story that you tell and how people feel doing business with you than it is the actual thing thatyou do.
Availabilityand the internet
have made itso easy to find
everyone else whodoes what you do.
The story inwhich you build around your business will set you apart and help you grow.
Focus on story.Focus on storybefore all else.
For you to tell your story, clients need to find you first.
Want to make it easy for your clients to
find you?
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Agents
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