The Power of Now Economy in the HoReCa World

now-economy

Article published by CoffeeBI – Year: 2018 – Language: English

Think about how we order meals, find a hotel, suggest a restaurant to friends, even how we take a coffee in some coffee shops, where we can skip the queue with a smartphone app. Our everyday consumer world has been disrupted beyond recognition. 

now-economyAgain, look at consumers’ behaviour over the last few years and how they have embraced immediate communication and instant service faster than many forecasters expected.

Amazon has just launched two new services for a generation of impatient digital natives, who crave instant gratification and immediate satisfaction. And are you carrying out a customer satisfaction survey on your clients the day after (in the best case) they had their experience with your product or into your shop? Yesterday may as well be one year ago.

Ten minutes after living their experience, your customers are already on TripAdvisor to write their feedback, or on Facebook to post about their experience.

So, welcome to the so-called NOW ECONOMY. For better or worse, we have to face this new lifestyle of carrying out instant interactions and highly individualised customer experiences.

These experiences are increasingly context-driven across all devices, tools, and applications, that are revolutionizing the way people consume, communicate, collaborate, and engage in both their personal and professional lives.

It’s estimated that one bad review overrides at least 30 good ones in any one of the popular review websites. People grade their experience in real time, and in a different way. How can you catch and keep your customers if you don’t have the time, tools, and budget to fight against the influence of the net?

It’s important to intercept clients’ feedback in the first 30 minutes after their experience, take an action either when they are satisfied (a reward program?) or unsatisfied (a recovery program?), and do re-marketing campaigns to consolidate their positive opinion, or give them a second chance to change their mind, if they had a bad experience with you.

Today you can make yourself a part of the now economy in a simple way. Technology is important but it’s not enough. You need technology and professionals, a new mindset without any big budget.