Essay on Customer Empowerment - 3312 Words

Customer Empowerment The Choice is Yours The Internet has permanently changed the relationship between consumers and the retail industry. Electronic commerce has provided consumers with more options, more alternatives and more opportunities than ever before. Consumers are no longer limited to physically visiting main street or big-box retailers. Instead, they are able to choose from products and services from companies large and small, located all over the world, without leaving their homes. Tangible points of comparison between retailers, which now can be automatically aggregated by software buying agents in seconds, include more than selection and price. Shipping costs, return policies, privacy practices and†¦show more content†¦The customer has always been right, but its never been like this. At the same time, these same customers are learning more about their choices and the legal aspects of privacy protection. During the next 12 months, retailers must combine airtight privacy policies with business models that defer to customer empowerment. Those businesses that do not place customer service above all else will fail. Online retailers face three primary challenges. First, they must attract customers by rising above the competition through costly marketing and promotional campaigns. Second, they must compel customers to regularly visit the site through a quality user interface and overall shopping experience. Third, they must lock the customers in all the way through the checkout. In an environment where the next competitor is a mouse click away, failure to overcome any of these three challenges could be detrimental. Even with a huge potential market, attracting customers to a site is expensive. With per-customer acquisition costs ranging from $29 for Amazon.com to more than $250 for some online brokerages,ii keeping customers is as important as attracting them. These high costs underscore the importance of a traditional retail adage -- the best customer is the one you already have. Long-term relationships are based on qualityShow MoreRelatedCustomer Satisfaction, Loyalty, and Empowerment1282 Words   |  6 PagesMarketing Dr. Arni Arnthorsson Customer Satisfaction, Loyalty, and Empowerment 1. Should a company be happy or concerned if most customers are satisfied? Satisfaction of the consumer is one of the main goals for a company to achieve. Customer satisfaction is defined as the feeling that results when an offering meets a consumer’s expectations. Companies around the world are doing many surveys, in order to measure the satisfaction of their consumers because the importance of consumer satisfactionRead MoreHow Employee Empowerment Is The Most Important Resource For Any Company1516 Words   |  7 Pagescompany will have an impact on the overall company’s performance. 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