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Posts Tagged ‘Customer Experience’

What should you do to start the journey of constituent experience?

The effect of everyone jumping on the constituent experience bandwagon is a slowdown in the maturation of this new business discipline. Confusion abounds as does disbelief. No one wants to risk exposing their constituents (and their job security) to new engagement practices that might increase instead of decrease frustration and churn.

However, the growing confusion opens unique opportunities. Here are a couple of strategies to start action plans around.

  • Creating a disruptive mindset by reimagining your business and constituent relationships in a digital world.
  • Making trusted content the center of your business strategy and constituent experience.
  • Infusing social constituent experience across all business functional and digital touch points.
  • Repeatedly measuring and proving the financial results.

If you haven’t begun the journey, now would be the time to start.

“Lithium’s blueprint is in direct response to customer requests for advisory and insight services to help them make their social customer experience strategy a reality.” He defines social customer experience as “unlocking the passions of your customers in the digital world in a way you can capture those insights, measure them and empower your organization to bring your customers along.” ~~Rob Tarkoff, Lithium Technologies President and CEO

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Growing Constituents And Revenues Are Top Priorities For 2013

As more signs point to strengthening economic activity in the US and selected regions of other parts of the world, corporate austerity is fading and growth is back in the spotlight. Acquiring customers, improving the customer experience, and growing revenues have returned to center stage. Forrester Research recently asked more than 2,000 global business decision-makers at large organizations what their “critical” and “high” priorities are for the next 12 months. We found that:

  • Their top priority is acquiring and retaining customers (73%).
  • Tied for the top spot is growing overall company revenue (73%).
  • The third most important priority is addressing the rising expectations of customers and improving customer satisfaction (68%).
  • Lowering operating costs now only takes sixth place on the priority list (63%).

It is evident from these data that effectively managing customer relationships has become the top priority for business success.

Better customer experiences drive improvement for three types of loyalty: willingness to consider another purchase, likelihood to switch business to a competitor, and likelihood to recommend to a friend or colleague. Forrester’s models estimate that the revenue impact from a 10-percentage-point improvement in a company’s performance, as measured by Forrester’s Customer Experience Index (CXi) score, could exceed $1 billion.

More here: Carpe Diem With The CRM Playbook: Growing Customers And Revenues Are Top Priorities For 2013 | Forrester Blogs.

Is your contact center loyalty focused?

Is your contact center loyalty focused? One of the trends I am seeing is that as companies more fully understand the link between customer experience and loyalty, especially with customer service, they are increasingly viewing contact centers as value-creators and not just cost centers.

Some of the effects we are seeing is less focus on average-handle-time and other productivity metrics, more focus on customer feedback and quality metrics, more on-shoring of previously off-shored interactions, and more investment in agent training and coaching.

Tidbit: Consumers that are satisfied with customer service interactions are more than 4 times as likely to repurchase than those who are dissatisfied.

Interested in a Voice of the Customer Program? First build executive support

February 21, 2013 1 comment

Interested in a Voice of the Customer Program? First build executive support. Those who have gone through the process all say it is critical.  It is also consistent with research showing that executive support builds a foundation for VoC success.

Executive support helps Customer Experience pros put key building blocks in place, such as adequate tools to collect and analyze data and processes to systematically act on it.

How do you build support? Prove the value of the program by demonstrating tangible business value. Track the results of service recovery efforts to save unhappy customers and aggregate the results of improvement projects initiated by VoC-collected data.

So, get started fast but make sure the C-suite is on board.

What is the Customer Experience Index? Why should you care?

January 18, 2013 Leave a comment

Is it ok to your investors to ignore money on the table by providing a mediocre customer experience?

Kerry Bodine, Vice President and Principal Analyst at Forrester Research, discusses what Forrester’s Customer Experience Index is and what it means for you at Customer Experience Forum 2012 in Los Angeles.

Customer experience trend: The rise of text analytics

January 17, 2013 Leave a comment

Companies are learning that some of the richest insights from customers come from unstructured content like comments on surveys, calls into the contact center, social media conversations, and chat sessions with agents. Companies will shift more of their focus towards collecting and analyzing these types of feedback. Tidbit: Nearly three-quarters of large companies with Voice of Customer programs are using or considering text analytics.

There are also a lot of great solutions out there. It seems relatively cost effective to begin experimenting right now. You can select a tool to analyze comments captured in call center conversations and see the trends on a real time basis. It probably could be up and running withing 6 to 8 weeks.

What is the future of customer surveys in our brave new world of customer experience?

January 8, 2013 3 comments

What is the future of customer surveys in our brave new world of customer experience?  As more companies thirst for customer feedback, the number of surveys has escalated. But there is a limit to customers’ willingness to complete surveys. I know, as a customer myself, that I am growing weary of completing the long, almost narcissistic surveys. 15 to 30 minutes, really???

As completion rates get more difficult to maintain, companies will become more efficient with the questions they ask, target questions at specific customers in specific situations, and stop relying as much on multiple-choice questions. Tidbit: When the Tempkin Group asked large companies with Voice of the Customer programs about the changing importance of eight listening posts, multiple choice survey questions were at the bottom of the list.

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