As we approach the end of 2024, it’s time to reflect on what has been another eventful year for many organisations. And given this is my last note to you before Christmas; in keeping with tradition, I’d like to take a slightly different approach.
To give things a Dickensian twist, it feels as though the Ghost of Service Past continues to linger, shaped by the aftershocks of recent global challenges: structural changes post-pandemic, a budget that has hit many businesses hard and a highly volatile geopolitical environment. These pressures have been evident in our latest UK Customer Satisfaction Index, showing service levels have hit their lowest point in recent history.
At the same time, the Ghost of Service Present reminds us of the persistent hurdles: economic stagnation, creeping inflationary pressures, and evolving consumer behaviours. Organisations that fail to adapt to the present reality – or who fail to align people and technology in a way that serves their customers may fail to find the redemption that eventually comes to Scrooge.
Just as Jacob Marley’s chains were forged through short-sightedness, businesses today risk similar constraints if they view service excellence as anything other than a business imperative.
Yet, like the timeless story of A Christmas Carol, this can be a tale of hope and transformation. There is growing recognition in the boardroom as to the importance of customer service. Customers are willing to pay more for a better customer experience and will vote with their feet if they see organisations misbehaving! Regulators are increasingly ensuring service is a key tenet in the way they measure firms in their sector, and we are seeing a far greater sense of professionalism in many service roles.
There’s a key lesson that we should never underestimate the impact of positive human intervention and connection. A genuine, empathetic and open approach can translate into significant business results: our research shows that 31% of customers will happily spend more for excellent service, after all.
I hope, like me, you feel inspired by the opportunities that Scrooge’s guided evolution to becoming a better person and the enlightenment he gets from seeing the impact of his actions on those around him. We know intrinsically that when we do the right thing and when we listen to our customers and employees, good things happen.
Wishing you a joyful Christmas and a prosperous New Year!
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