February 16, 2021
Following our online survey in January, we have just released key findings in our report: Blueprint for 2021: The Year for Building Trust and Customer Experience. The report identifies key business priorities that will help privately-held and family-run businesses succeed in 2021.
- Two-thirds of respondents believe customers are the number one priority to focus on in order to achieve success in 2021 and weather the COVID 19 business environment.
- 60% of business owners are investing in the customer experience in 2021.
- 90% of business owners feel optimistic about the state of business.
The survey revealed a number of strategies likely to be adopted to achieve profitability in 2021. They include reducing costs (61%), investing in the customer experience (60%), identifying new business opportunities (57%), launching new sales and distribution strategies (51%), and investing in training to strengthen relationships of trust with customers (47%).
Not surprisingly, 94% of all survey respondents said customer trust is extremely important in this business environment. Yet, 58% do not have a clear idea of what steps to take to achieve this. In 2021, businesses need to operationalize trust in the customer experience. It is not the time to wait, retrench or cut back. Companies that balance online interaction with personal interaction will win in 2021.