Embracing the Demand for Instant Gratification – Now!

“Allow 2-4 weeks for delivery.”

“Please stay on the line. All of our representatives are busy assisting other customers.”

For many companies, these were standard messages for delivery and service five years ago. Today they’re business-killers, and if you’re still doing business on a 2018 schedule, you’re losing customers.

In today's fast-paced world, customers demand instant gratification. They expect faster service for everything from personal services to all kinds of products. When they have questions, they expect immediate, accurate answers; and when there’s an issue, they demand quick problem resolution. This shift in consumer behavior has become a decisive factor in the success of businesses across industries.

Can you keep up with your customers?

You can if you take their need for speed seriously. According to a recent study by McKinsey, consumers prioritize businesses that offer rapid service, from streamlined ordering and payment processing, to fast deliveries, to swift issue resolution. The "buy now, get it now" mentality has become ingrained in every facet of consumer culture, and companies that can’t keep up risk losing out to rivals who can deliver. 

When everyone else is operating in overdrive, how can you get up to speed? Start by reviewing your service and delivery operations. Can you optimize internal processes and reduce turnaround times without compromising quality? This optimization might rely on integrating technologies such as process automation, AI-driven analytics, and innovative technologies to enhance speed and efficiency in customer service and order fulfillment. Effective data collection and secure storage are crucial to AI-fueled transactions. Start with a data collection plan. Focus on collecting only relevant information, and storing it securely.    

Don’t forget to review your service level agreements with your infrastructure and backup systems providers. Losses of Web connectivity occur for many reasons, but this is a 24-hour economy. If customers can’t reach you, they’ll go elsewhere. If you expose their data, they will leave even faster.

Customer service excellence

Relentlessly responsive customer support is another key to instant customer gratification, and has emerged as a critical differentiator in today's market.  It might be time to invest in real-time support channels, including chatbots for instant query resolution and quick access to human assistance, to win over customers who don’t want to wait around to “press 1 for more options.”   

Resolving issues efficiently and effectively is pivotal in fostering loyalty and positive brand perception. Rapid resolution begins with fast response to customer feedback – good or bad – from reviews or other sources. Do you have a (working) process for gathering customer input after a transaction? 

Think about proactive support as well. There are more options than ever for effective self-service support and AI-driven personalized experiences that can save customers time and enable you to promptly deliver the support they need.

A transparent communication strategy helps manage expectations and build trust. Can your customers easily track the status of their order, get service updates, and find information about potential and actual delays? More than ever, communication transparency is critical to customer support.

But don’t stop there. Respond to all customer feedback

Data privacy and customer loyalty

Surveys continue to show that customers are fickle at best, and are less brand-loyal than ever before. That doesn’t mean there’s no way to build trust in today ‘s hyper-speed marketplace, or that doing so isn’t important. Although consumer loyalty is dropping, paradoxically, many consumers say they want to trust the companies they give their business to.

One way to gain their trust is to disclose data privacy policies. Nearly 70 percent of respondents to a recent PwC report indicated it’s very important for companies to disclose their data privacy policies. In fact, this was a higher priority for respondents than businesses’ disclosure of financial information, or social or environmental initiatives.

Since many companies don’t provide this information, according to the PwC report, doing so could be a quick way to differentiate your business and build trust.

Conclusion

Today’s demand for instant gratification is a fundamental shift in consumer behavior, not a short-term trend. Businesses that embrace this shift by leveraging technology, optimizing processes, and prioritizing customer-centric strategies can stay a step ahead of their competitors as well as today's instant gratification-focused consumers.

Remember, in this age of immediacy, speed is not just an option – it's a necessity. Trust is also critical to business success, and is evolving as well. The Better Business Bureau® has resources that can help your business build trust into daily operations, even at today’s fastest-ever speeds. Visit the BBB’s Trust Hub for more information.