• The Paradox of Choice: Finding the Balance for Customer Value

  • Jul 10 2023
  • Length: 16 mins
  • Podcast

The Paradox of Choice: Finding the Balance for Customer Value

  • Summary

  • This week Alex talks about the customer journey and the problem of choice. How many touch points do you think your customers go through when they engage with your product or service? What emotions do they feel throughout this journey? What influences their decision making process? Can too many choices be a negative thing? For answers to all these questions and more, tune in and let Alex guide you as she breaks it all down and allows you to understand your customers journey in a way that will add value to your business.

    KEY TAKEAWAYS

    • There are many factors that influence our attitudes, including the influence of significant people in our lives. It is important to understand our attitude and how we are influenced, especially when running a business as it will affect the choices of our staff and customers.
    • Our attitude is also influenced by our behavioural beliefs. These are beliefs we carry that may not be true, such as “I can’t do X because of Y”. These beliefs can be limiting to our growth and it is important to challenge them.
    • Alex breaks down the customer journey into 4 simple steps. She explains them and helps you to understand how each step is processed in the mind of the customer, giving you the tools to add value to your business.
    • Do people find it harder to make a choice when more options are available? Alex gets into this and talks about ‘preference uncertainty’ and helps you understand how you can give your customers better choices.

    BEST MOMENTS

    “People don’t take notice of things they aren’t looking for.”

    “We presume higher price items are better quality.”

    “We believe that products with good reviews are better quality, but what we’re really thinking is that we will enjoy that product to the same level as someone else.”

    EPISODE RESOURCES

    Alex’s Website: www.as-insights.com

    Alex’s Instagram: www.instagram.com/alexvci

    Alex’s Linkedin : www.linkedin.com/in/alexandrastacey

    Alex’s email: info@as-insights.com

    ABOUT THE HOST

    Alexandra Stacey is fascinated about value and our perceptions of value. She undertook an MSC in Strategic Marketing and Customer Experience Management with the University of Buckingham’s Business School and her dissertation included how value is experienced. Her own life experience includes being a parent, marketer, teacher, project and events manager and musician. She is the founder of AS Insights. This is a business that helps organisations improve through uncovering their stakeholder’s experiences interpreting them through behavioural theories.

    PODCAST DESCRIPTION

    In today’s world businesses and organisations are able to deliver things much more quickly at the touch of a button than 15 years ago. And our competitors can too.

    We are in danger of escalating journeys down the wrong track and be too far gone to retrieve them.

    Wouldn’t it be so much better to do the right thing right first time instead of becoming very efficient at doing the wrong thing?

    Well this is what this podcast is about. It is about optimising value in your customer or employee or stakeholder experience in different manifestations. You get to understand how we think and behave in different scenarios and can apply them to your own purchasing, sales, recruitment, team-building, customer retention and audience perception management.

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