Product / service providers shouldn't assume that cost and hassle of switching will protect customers from jumping ship. Because every year brings startups and new offerings, there are more options available to buyers. All these options makes convincing prospects more difficult.

Listen to Hank Barnes explain why good customer experience is critical to compete in today's marketplace.

Video Transcript: Importance of Customer Experience

In the world we’re in today, customers have so many options and so many choices. That if I don’t deliver a great experience they have more of an ability to switch and go to someone else.

 Now, let’s be really direct about that. Switching is really hard. It requires new training for people, it requires new processes but it’s certainly as easier than before. Customer experience, particularly as I moved to new models like software as a service, it becomes more important. Because people are going to look at it and say, how much am I using it, do I like this experience? Do I want to continue working with this company?