Market Force Perspectives

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Over the last ten days, life, as we know it, has changed. What restaurant operators, specifically casual dining, QSR and fast-casual brands, are worried about today was nowhere on the radar last week. With states mandating closures and restricting business practices, restaurants are now competing for fewer dollars and fewer guests. Now, the main topic of discussion is how to make sure guests feel safe and confident receiving food from your restaurants. Customers need to know...
In light of the Coronavirus outbreak, what should retail and restaurant businesses do to protect themselves, their customers, and their reputation? Over the past few weeks, I've had the pleasure of visiting London and several other cities in England, where I ate at fast food and upscale restaurants as well as roadside food kiosks. One restaurant, in particular, had a sign in the window stating, "We're doing everything we can to protect you against the virus." That sign got...
We are in unchartered territory with the rapid wave of a new CorornaVirus (COVID-19) that is spreading with seemingly unprecedented speed in both infected patients and the number of countries involved. The impact on retail, and particularly the restaurant space, remains to be seen, but clearly, organizations must move quickly to protect customers, employees and, the business. This attack is shaping up to be a far more impactful contagion than the NoroVirus outbreaks that...
As experts in the customer experience industry, Market Force receives requests every month from brands looking to deploy customer experience survey programs. While we have a series of best practices to offer these firms, I am struck by how infrequently these companies are thinking about the Service Profit Chain. Developed in the mid-90s, this model establishes the relationship between profitability, customer loyalty, employee satisfaction, and productivity. If this research...
When a customer is looking for a new restaurant, dentist or boutique, where’s the first place they look? More often than not, it’s at online reviews.Customer reviews matter. Those star ratings and comments play a huge role in potential customers’ perceptions of the brand. Learning how to leverage reviews can create an improved experience for future and current customers.What Makes A Customer Review?Customer reviews have become incredibly popular in recent years, especially as...
One of the best ways to increase business performance isn’t to push for more sales – it’s to invest in your employees. Companies that focus on employee experience tend to see greater improvement in business performance. Stock prices on Fortune’s 100 Best Companies to Work For list rose 14% per year from 1998 to 2005, while companies not on the list increased their stock price by an average of just 6%. Another study found that companies that improve their employee-written...
In an ongoing effort to solidify client relationships and consult on successful Customer Experience (CX) best practices, Market Force’s UK client strategy team planned a day of collaboration to bring the topic of CX front and centre. On 10 October, the team hosted a forum where representatives from various consumer-focused sectors had the opportunity to share business challenges and have meaningful dialogue with CX thought leaders. This inaugural CX Collaboration Day hosted...
If you travel as much as I do, and care as much about customer experience, you stick with brands that provide exceptional service and reward loyalty. As the leader of a customer experience practice who believes in the power of CX on loyalty, it’s understandable that within reasonable cost variations, I fly the same airline, stay at the same family of hotels, and frequent the same restaurant brands wherever I go. You likely do the same thing. We are creatures of habit and when...
We are excited to announce that our UK team has settled into a new office location in Milton Keynes.We spent the last 10 years in a beautiful setting with rural surroundings but our office on the ‘Farm’, as we affectionately called it, did not offer much of interest nearby other than a local garage and a small shop. Although the Farm served us well and we made great memories there, we could not be more excited about moving into our new office!There were several motivating...
It’s no secret that data plays a critical role in customer experience. In order to provide personalized and convenient solutions, brands must have a deep understanding of their customers. This data allows companies to have strong insights into their customers, their industry and their progress.Many companies rely on survey and feedback data to gain this information. While these data sources are incredibly useful and helpful in understanding customer perception, they don’t...

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