Posts

What Wells Fargo (and the Rest of Us) Can Learn from Samsung

  • “Who knows what happened to us two years ago?” Wells Fargo’s Chief Marketing Officer Jamie Moldafsky (I originally wrote about this here)
  • “Who’s heard of our product, the Note 7? [pause] Yes, pretty much everybody, in every plane trip, for about a year.” Michael Lawder, SVP, Customer Care, Samsung Electronics America

Both these speakers began their speech with a similar attempt at humor to grab the audience’s attention, referencing an event that happened in late 2016, but a small difference speaks volumes to their contrasting attitudes. This small difference shows why Samsung has fully recovered while Wells Fargo continues to falter.

Problems can happen in even the best-run company. Pixar, Amazon, GE – all have experienced problems. This post isn’t about preventing problems (although many of these – particularly Wells Fargo’s problems – should have been avoidable). Instead, it’s about what to do once it happens. Read more

Ten B2B KPIs to Track Starting Now (none are NPS) – Employee-Rated and Survey Items

Yesterday, we talked about Business KPIs that you need to track to truly understand the value and cost of different clients. Unfortunately, not every important metric can be captured in your systems. Some require employee judgment to rate, for example client risk, number of contacts at the client, and potential. Others require clients to tell you about themselves, such as share of wallet, likelihood to remain a customer, and trust. We’ll discuss these items today.

 

 

Employee-Rated Items:

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Proof That CX Pays

Watermark GraphAs a customer experience professional, you know CX pays. How could it not? Customer experience leads to loyalty – so if your customer experience is poor, you have to spend an inordinate amount of time replacing the customers you’re losing. You understand this, and you understand the ideas and practices that underlie CX and all the ways it can be utilized in order to maximize companies’ engagement with customers and profit margins. Despite this, though, your boss still doesn’t quite trust it. Or your internal customers don’t ‘get’ it, or wonder how effective it really is. “What is the customer experience stuff?” you keep getting asked. “Does it really work?”

You know it does and we know it does – so we’re here to help you out when you run into those who don’t. Read more

Using Customer Experience-Savvy to Improve Your Candidate Experience

CM9Na_gWsAEXVLXHere’s a Q&A I did recently with Recruiting Social, who asked me to talk about using CX in the hiring process to improve candidate experience.

Why should the candidate experience matter to employers?

If the goal is to get the best talent, yet you make people go through really hard and opaque application and recruitment processes, you’re automatically removing potential candidates. You don’t know who they are. You don’t know if you are chasing away the people who are just not interested, or if you’re chasing away the best talent.

Is the applicant willing to reformat their resume so it’s easier for you to use and search? Maybe resumes disappear into a black box and applicants never hear anything back and never get any feedback. Does a potential applicant want to go through an experience like that? It’s very easy to get into the mindset that, “If this candidate doesn’t like a process, we’ll find another candidate.” I’ve actually heard from recruiters in the past that were getting too many job applications, so they deliberately decided to not make the process easy, so they could weed out some of the applicants. Well, doing that you’re probably weeding out the wrong ones.

Not caring about the experience degrades the quality of candidates, because they know that you are not serious about hiring the best talent. Read more

Interview with DST Health Solutions CXO Lisa Crymes: Creating a Multi-Layered Customer Advisory Board Approach

Customer Advisory Boards (CABs) are a terrific way to get consistent customer feedback, and are particularly popular with B2B firms. An effective CAB strategy allows you to stay in tune with what your customers need, and also gives you a forum for bouncing off ideas before they get too far down the road, providing an early warning before investment into a misaligned idea is too high.

One challenge to a CAB is its make-up. Does your CAB include senior leaders or day-to-day contacts? Do you focus on strategic advice or instead measure how you’re doing? DST Health Solutions looks at these options and says “Yes” to all of them, by building a multi-layered approach to CABs. Read more