CEOs say: The quality of customer service often the only differentiator.

NEW YORK (Reuters) - Chief executive officers of companies listed on the New York Stock Exchange believe that meeting and exceeding customer expectations will help drive sustainable growth in the future, according to a new report.

More than half of the executives surveyed, from 240 leading companies across 24 countries and 20 industries, told the NYSE CEO Report 2008 they would budget more for customer relationship management in 2008.

Many executives also said retaining customers has become tougher than in the past. With companies increasingly selling similar products, CEOs said the quality of customer service was often the only differentiator.

The report, which is the third such annual survey of CEOs brought out by trans-Atlantic exchange operator NYSE Euronext , also found that executives of companies based outside the United States find it harder to attract and retain customers.

My two pennies worth...

Half of all CEOs is an interesting number. 50% of CEOs get it. What in the world are the other half thinking? What are they doing to earn their keep? It reminds me of the old joke about 50% of the doctors graduated in the top half of their med school class. Hopefully, that includes your doctor. And hopefully your CEO is one of those that understand the absolutely critical nature of customer service and of delivering a unique, valued and consistent customer experience.


What say you? Comments? Ideas?


Eric Fraterman
eric@customerfocusconsult.com
www.customerfocusconsult.com