Business – Fix Operational Performance and Customer Satisfaction first, then work on Marketplace Dignity.

 

So, here’s an article on “Marketplace Dignity.” 

 

https://knowledge.wharton.upenn.edu/article/marketplace-dignity-the-hidden-driver-of-customer-engagement/?utm_campaign=KatW_Monthly2024&utm_medium=email&utm_source=kw_campaign_monitor&utm_term=7-7-2024&utm_content=Marketplace_Dignity_The_Hidden_Driver_of_Customer_Engagement

 

It made me think of Maslow’s Hierarchy of Needs.  It’s hard to work on self-actualization and self-esteem when you are hungry, cold, and in danger. 

 

Same for Marketplace Dignity and Operational Performance and Customer Satisfaction. 

 

The article’s emphasis on giving Customers Agency, Representation, and Equality is sensible and laudable.  But first you must provide adequate if not excellent operational performance, satisfying Customers’ basic needs.

 

What are the most important basic needs?  In my research with lots and lots of real Customers, Customers always prioritize Price / Value, Reliability (the product or service doesn’t break), MTTR (it gets fixed fast), and On-time Delivery (which is really keeping your promises to Customers).

 

What I see, read about, and experience as a consumer is widespread piss poor operational performance by too many businesses.  Just look a Net Promoter Scores (NPS) for various industries.  Scary bad.

 

Unless your company is top quartile in NPS, I think your attention should first be focused on improving operational performance and NPS … then you can work your way up the hierarchy to Agency, Representation, and Equality.

 

PS.  I wish companies could do both at the same time, but I doubt it.  Achieving operational excellence is a big, hard job.