The value to business leaders of this type of insight is huge - and the measurement can be repeated, for example, on a monthly basis with the results readily available via a dashboard so that areas of concern can be readily identified, monitored and, where appropriate, action taken.
In the past I have seen plenty of examples where the chief executive or senior managers of an organisation have taken for granted the views of their clients and staff, and have lived to regret it.
In their recent discussion paper DP20/1, which is well worth a read, the FCA say that “consumers who experience firms acting purely and selfishly for profit lose trust and may vote with their feet”.
The regulatory focus on the new Senior Managers regime and its impact on the culture of an organisation requires all Senior Managers “to pay due regard to the interests of their customers and treat them fairly”.
That is particularly true at the present time.
In this fast changing and unpredictable world, the quote from Arthur Nielsen “the price of light is less than the cost of darkness” has never been more relevant.
If you want to ensure your business adapts successfully and in a timely way to the new realities of the post-virus environment now is the time to gain the insight. Don’t delay.
John Moret is chairman of Investor in Customers
