The EIU's study suggests companies' failure to prioritise customer service improvement is a major missed opportunity.
Companies in Asia are not putting sufficient emphasis on customer service. Over half of the companies in the survey invest in customer service only after development of their core product, and one-third say they invest in customer service only when they see a real need. However, the vast majority of Asian consumers polled (76%), say that customer service should always be a company’s top priority.
- Price is no longer the only factor in purchasing decisions.
- Rising expectations are driven by information and competition, not income, suggesting that expectations even in lower-income countries will rise quickly.
- Customer service, like products, should be tailored to individual markets. Call centre service is fine…if done well.
- The emphasis on online communication may be misplaced. Foreign firms can compete on service.