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Customer strategy pillar 3: Time and Effort

Customer strategy pillar 3: Time and Effort

What it means

Today, customers have options. And more often than not, customers will gravitate to product and service providers that maximize their time and minimize their effort. This is exemplified in KPMG's 2019 Me, my Canadian life, my wallet report where over a third of Canadians reported feeling overworked, and nearly half feel their work/life is out of balance. It is important to create experiences that can ease those stresses.

46% of Canadians expect companies to value their time.

What it looks like

Customers neither want nor expect a clunky, time-consuming process. They don't want to navigate complex websites, get lost in labyrinthine phone directories, and have to fill out countless forms with the same information. They want to do business with companies that understand every moment counts.

Leaders in this pillar understand the value of understanding how each demographic allocates their time and effort. They recognize that younger demographics (e.g., Millennials, Gen Zs) often prefer to transact online, and gravitate towards services which allow them to browse, compare, and purchase effortlessly. They understand that Boomers are becoming equally tech-savvy, but still value quick and efficient face-to-face service. They get that Gen X'ers (aka the 'sandwich generation') are stretched thin between caring for their families and aging parents, and aren't as willing (or able) to part with the extra time they may have.

Overall, understanding these differences is key to personalizing their offerings and optimizing every interaction. Any effort to make doing business with them easier will pay off in long-term relationships.

57% of Canadians expect companies to make things as easy as possible for them (60% of Millennials).

The challenge

Catering to customers' time and effort means understanding how they relate to each. In a market of diverse demographics and endless trends, this can be challenging to track. Here again, adopting the tools and methodologies to better understand your customer and map their journey will go a long way towards tailoring your products, services, and interactions in a way that will win their loyalty.

Customers will gravitate to product and service providers that maximize their time and minimize their effort.

Where do you stand?

  • How easy are you to work with? How long is a typical transaction? Is your website easy to read? Is your store easy to navigate? Are you burying promotions where customers might not find them?
  • How fast can you respond? When a customer needs help, how quickly can they access it? Are your customer service pathways clearly defined and simple to access?
  • Are your employees on the same page? Does your team have the skills and resources to help their customers effectively? Are they empowered to use their best judgment? Do they know how to maneuver your back-office systems and processes to complete the interaction quickly?
  • Do you know your audience? What demographics do you serve? How do they prefer to deal with you? Are you respecting their time and effort as they would prefer?
     

When you are ready,

let's do this.

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