Home Depot Still Has A Spark Of Customer Centricity

I’m in the process of publishing a report called “The Customer Experience Journey” which describes 5 levels of maturity as companies head towards Experience-Based Differentiation. As companies evolve past the first couple of stages, they need to develop “Customer-Centric DNA,” which I’ve defined as: A strong, shared set of beliefs that guides how customers are treated   So I’m always looking for tangible examples of this type of culture. Well, I found an example in a comment to one of my posts called Can Frank Blake Revive Home Depot? I know that people don’t always read the comments, so I decided to post an excerpt of it Read More …

Can Frank Blake Revive Home Depot?

Home Depot’s stock closed yesterday at $27.18; 29% lower than a year ago. That’s certainly troubling, but what’s even more concerning for the retailer is the poor feedback from its customers: According to the American Customer Satisfaction Index, Home Depot’s satisfaction dropped 4.3% in 2007 — the largest drop of any specialty retailer that it tracks. By comparison, Lowe’s customer satisfaction increased by 1.4% over the same time-frame. In Forrester’s Customer Experience Index, Home Depot received a score of 72%; 25th out of 27 retailers. Lowe’s, on the other hand, ended up with a 79%; 15th out of the retailers. This is a terrible story. So is Home Depot doomed to failure? Not Read More …