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Monetizing customer experience: how to create value for your customers and your business

Truly listening to your customers will benefit your business – a statement many managers have become accustomed to hearing. In order to deliver on that promise, customer experience measures need to be orchestrated along the customer journey and in accordance with actual customer needs: Here’s a quick guide on how to exploit the potential and reap the benefits of customer experience.  

A focused view on the customer
In an increasingly faster spinning world, where technologies disrupt businesses and incumbents need to think about strategies how to prevail against new market entrants, neglecting customer experience might be a ‘dangerous’ undertaking. Now that the aviation market is seriously struck by the Covid-19 crisis, it is all the more important to choose the right portfolio of customer experience measures. It is of paramount importance to reestablish customer satisfaction and, thus, reap benefits from short-term measures quickly as well as make the right decisions for longer-term investments today in order to, ultimately, find a fast track out of the crisis and stay relevant in the future.

Customer experience is not an end in itself but rather an overarching concept that needs to be orchestrated carefully with regards to investment, timing, and in accordance with customer needs in order to produce the much sought-after return on investment.

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Further insights from Lufthansa Consulting’s aviation experts are available here.