Fred Reicheld, the creator of the Net Promoter system, discusses the impact of increased automation and technology on customer loyalty. Far from making it irrelevant, he says technology places a premium on the less routine face to face interactions customers have with you.
Transactions that are more complex, he says, create a “moment of truth” opportunity to either delight or greatly dissappoint your customer. Since routine interactions with a human being are less frequent, there is less opportunity to offset a failed “moment of truth” so getting those moments right is even more important than it ever has been.
For investment companies such as Vanguard, a “moment of truth” is often a life event such as a birth, marriage or passing away of a loved one. Helping customers through these significant and emotional moments successfully can create a great deal of loyalty.
Read his Linked In article here.