We’ve documented the top items a few times in the past: linking everything to business value, understanding the technology and data, measuring and improving emotions, and using change management. Read more
“We’ve all seen those studies where it says a one-point increase of CSAT equals this revenue, but to a Commercial Officer, a CEO, or a CFO, this doesn’t sound real. So it doesn’t put CX in a credible position. We need to prove this based on our own data: ‘These are the scores for the past year, and this is the revenue or the growth in revenue and the growth and shipments for these exact countries. And this is what it looks like. This is the correlation between the revenue and customer satisfaction and NPS.’” – 2020 interview participant
I bet that like me, you love to read research that shows that CX pays. Luckily for both of us, there’s plenty of industry data on the topic. The most compelling is Watermark Consulting’s tracking of stock prices. Read more
It’s going to impact you…and the way CX is practiced going forward.
This slew of recent transactions (such as CSG’s purchase of Kitewheel), will spur innovation and consolidation that will result in broad, new enterprise experience platforms. These offerings will pack a powerful punch by combining previously disconnected technologies and capabilities, such as journey mapping, analytics, and orchestration. Read more
Customer experience (CX) is about more than surveys.
CX is about understanding customers through operational and financial metrics, reaching into each individual’s journey, and making a difference.
So now might be a good time to ask for a raise, because you’re going to be doing a lot more!
Leaders in the CX space are spending money consolidating disconnected CX technologies into enterprise experience platforms. Your job as a CX leader is to lean in and take advantage of the upward momentum, and spread the reach of what CX is all about in your company. Read more
This post picks up where last week‘s left off…
Both points in that statement need to be analyzed.
First, understanding how to drive customer satisfaction (I’m using this as a catch-all for NPS, customer effort, etc.) isn’t that easy.
When I led a CX program in the health savings account (HSA) marketplace, I asked teams what they thought the top drivers of satisfaction were. Product thought it was about features. Marketing thought it was about educating on how to use the HSA. Sales thought it was about pricing.
They were all wrong. Read more
I’ll get right to the point: Change management is cheaper than bribing employees. It’s more effective, too.
The CEO of a client organization recently asked us about offering a bonus tied to their Net Promoter Score (NPS). He believed that this would motivate employees to think more about customers and improve their experience.
Without mincing words, I told him I thought that was a terrible idea – one that is universally frowned upon.
He pushed back: “Why? What’s the evidence? Other organizations are doing it. Why is it so bad?” Read more
Research from CustomerThink, Forrester, Pointillist, and the XM Institute agree: Few CX programs can prove that their work matters to business outcomes.
This reminds me of a story from my college days.
I was visiting my buddy Rick, and we went down to the rec room in the basement of his dorm to shoot some pool. Tucked in the corner was a video game.
A little background you should know: When I was in high school, I had a paper route that included a vending machine. That meant I always had pocketsful of quarters. Which, given the era, meant lots of afternoons at an arcade, happily feeding those quarters into video games. Read more
“What does ‘good’ look like?”
That’s a question CX leaders spend a lot of time pondering. For example, I’m often asked questions like, “How fast does our response rate need to be?”
The easy answer? “As quick as you can make it.” That’s the lazy answer, too.
It should come as no surprise that easy, lazy answers – even when they seem logical – might not be the best. But they can also seriously harm your brand.
Because nothing comes without tradeoffs.
For example, one Heart of the Customer client focused on same-day shipping for every service request. You ask for it today, they get it out to you today. That sounds better than “good,” right? It seems downright great. Read more
If I could only ask you one question to determine if you’re a Change Maker, it would be this: “Tell me about your data.”
But not the Change Makers.
They understand that business data is what the organization runs on. And they have a thorough understanding of the metrics that make up their customer journeys, particularly their organizations’ key performance indicators (KPIs). Read more
The benefits of customer journey maps – static and living – can be transformational for both your organization and your customers. But your maps won’t lead to an increase in customer loyalty or company earnings if your journey mapping process is flawed.
So why do almost two-thirds of journey mapping initiatives fail to drive change?
Because journey mapping is an art and a science, and doing it right is hard. Which makes it tempting to cut corners and rush the process.
But you’re not going to gain anything with those shortcuts if your journey mapping project turns out to be a huge waste of time and resources as a result. And there’s even more on the line than that.
One failed journey mapping project makes it that much less likely that you’ll be able to muster the internal support needed to try again. Read more