Miracle Makers with Toby Russell of Shift Technologies
Toby Russell, the Founder and Co-CEO of Shift, is driving transformation in a market that has long been associated with terrible customer experiences and a low level of trust:the used-car sales market. Despite warnings that you needed a miracle to scale a car-sales business, Russel founded Shift with a philosophy that exceptional customer experience could make a difference. On this episode of Business X factors, he reveals how Shift has found a way to radically improve experiences in buying used-cars, the lessons he learned from his previous venture, and the challenges he met on the road to offer a seamless, hassle-free purchasing experience for customers. Main Takeaways: Poor customer experience = opportunity: When a buying experience is terrible, there’s a strong chance that consumers are hungry for something new and different. Work back from what customers need and look for gaps. Examine the customer’s end-to-end experience and design a system that delivers everything the customer needs. Customer experience as priority No. 1.: In many businesses, customers or product quality are sacrificed in deference to the bottom line. This alienates current customers and puts you at odds with prospective customers before they even walk through your door. Happy customers - the kind that will return and recommend you to others - are customers that feel confident in their purchase. Take out the guesswork for your customer, provide them with a high-quality product at a fair price that they can trust. When changing a massive industry, find ways to differentiate yourself: Making waves in an established industry - especially one with a bad reputation - is no easy task. To avoid getting seen in the same light, find ways to stand out. For Shift, this meant not only committing to providing a great customer experience, but also getting creative with how consumers could engage with the company (i.e. online).---Business X factors is produced by Mission.org and brought to you by Hyland. For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.