Linking Customer Experience Metrics to ROI: Attainability and Actionability for Any Company

Size: px
Start display at page:

Download "Linking Customer Experience Metrics to ROI: Attainability and Actionability for Any Company"

Transcription

1 Linking Customer Experience Metrics to ROI: Attainability and Actionability for Any Company Successfully Driving Customer- Centric Culture and Ini8a8ves Through Real- World Insights and Analy8cs

2 Your hosts Michael Lowenstein Thought Leadership Principal Colin Shaw Founder & CEO

3 Beyond Philosophy introduction Customer Experience Experience isis Customer all weall do.. Since we do! 2002! We focus on the emotional side of customer experience Copyright Beyond Philosophy All rights reserved We work globally with offices in London and North America; with partners in Africa & Asia. Secrets of a Successful Global Customer Experience Program Palgrave MacMillan 2015 beyondphilosophy.com Thought leadership is our differentiator Evidence based consulting & training 3

4 Organizations we have worked with Copyright Beyond Philosophy All rights reserved beyondphilosophy.com 4

5 Seven S Customer-Centric Direction Structure Systems Strategy Shared Values Style Skills Staff

6 Any Actionable Metric Has Value: The Current Customer Experience Measurement Landscape Comparing Satisfaction, Loyalty Indices, NPS, CES, Delight, and Advocacy/Bonding

7 Customer Sa8sfac8on Measurement American Customer Sa0sfac0on Index (ACSI), Survey Research Center, University of Michigan, 1994 Core tracking covers several hundred companies 100 point scale of sa0sfac0on level Largely measures func0onality and tangibility (0me, cost, accuracy, completeness, cost, etc.) Strong tac0cal and transac0onal orienta0on AItudinal response; passive and benign Proven to be minimally connected to/driving future ac0on, such as loyalty behavior, industry to industry

8 Loyalty/Secure Customer Indices Typically composed of three elements: sa0sfac0on, future purchase intent, and recommenda0on likelihood With some ques0on varia0on, very ac0vely used core approach by many b2b and b2c companies; in use for decades Sa0sfac0on, because it is fairly transac0onal, rather than rela0onship- based, tends to have limited correla0on with actual loyalty behavior Recommenda0on has mul0ple analy0cal challenges: aggregate score, non- granular, etc. Sa0sfac0on and recommenda0on tend to dampen CLI and SCI ac0onability

9 Customer Delight Score Per Tim Keiningham and Terry Vavra, 2001 Not recommenda0on or sa0sfac0on, but, defined as extreme sa0sfac0on or complete sa0sfac0on using scale Tends to be transac0onal Early ayempt at building emo0ons into the experience Addresses unseen, yet important, customer needs Endeavors to measure how companies surprise and elate customers, and differen0ate themselves from compe00on

10 Net Promoter Score (NPS) Fred Reichheld (Bain) and Satmetrix, 2003 Net recommenda0on (subtrac0ng Detractors from Promoters) represents method for C- suite to address macro loyalty drivers; easy to understand Found to be challenging to apply on a universal basis (cannot be used in all industries/purchase situa0ons); may not help an organiza0on be more customer focused or customer- centric Range of ac0onability/analy0cal issues - Ques0onable because of hypothe0cal nature, scale, calcula0on method, and actual meaning/value of recommenda0on, mul0ple ways of arriving at score - Low correla0on between NPS score and customer ac0on - Non- granular applica0on: difference, and group aggregated, score rather than individual customer classifica0on score - Non- discrimina0ng (same customer can recommend mul0ple brands)

11 Customer Effort Score (CES) Developed by Corporate Execu0ve Board, 2008 Measures customer percep0on of how easy/difficult it is to do business with a firm, such as frequency of complaint resolu0on contact Transac0onally- based, rather than rela0onship- based Only addresses aspects of service, not overall experience More relevant with fairly generic, u0litarian products and services Needs accompanying granularity, re. technologies, business processes, and employee behavior contribu0on to customer ease/difficulty of doing business

12 The Impact of Customer Influence has Pushed the Strategic Relevance of Advocacy/Bonding Grow Revenue Posi8on Brand Increase Share Decrease Risk 80s: Quality 90s: Sa8sfac8on Late 90s: Loyalty Current: Advocacy/ Bonding Advocacy captures the influence the customer and partner base have, in addi8on to measures below. Embrace customer reten8on within the framework, but it does not capture the influence customers have on other customers and partners. Sa8sfac8on gets to some of the intangible dimensions of the rela8onship, but is a passive measure and does not explain nor predict reten8on/loyalty behavior. Assessing customer rela8onship has its genesis in quality assessment. Realiza8on that quality alone does not generate a sa8sfied customer. Beyond Philosophy All rights reserved

13 Key Performance Metrics Question: Is it possible to demonstrate the impact of enhanced customer experiences on business outcomes in monetary terms? Beyond Philosophy All rights reserved

14 Customer Advocacy/Customer Bonding Measurement Beyond Philosophy All rights reserved

15 Advocacy/Bonding Defined.a combination of two key constructs: rational and emotional attitudes toward a brand (brand impression and perception) and downstream customer communication behavior (word-ofmouth) resulting from strategic and tactical experiences. Advocacy offers a contemporary and real-world measure to extend enterprise understanding of customer loyalty and business performance. Beyond Philosophy All rights reserved

16 Thought Leaders

17 Experts Agree on the Power and Actionability of Customer Advocacy/Bonding Leading companies) use the word-of-mouth effect of unpaid advocates truly loyal customers to boost their reputation. Advocates will do your marketing for you if you mobilize them, listen to them and engage them. Professor Philip Kotler, Northwestern University (2010) Word-of-mouth is the primary factor behind 20 to 50 percent of all purchasing decisions. And its influence will probably grow McKinsey (2010) Loyalty is very passive. I may be loyal and buy products from a brand, but I don t go out and speak about the brand. Advocacy is active. Jaime Cohen-Szulc, Former CMO of Levi Strauss (2010) Customer advocacy is the best indicator of experience success Forrester (2010) Beyond Philosophy All rights reserved

18 Leading companies want to build strong bases of loyal, profitable customers who are also advocates for the organization. Advocates spend more, remain customers longer, and refer family and friends, thus increasing the quality of the existing customer base and new acquisitions. IBM Global Business Services We predict that customer advocacy will be the new focus for business leaders. Creating the customer experience via customer advocacy will become the single most important initiative that cutting-edge, forward-thinking, innovative companies will adopt. Hitachi Consulting Beyond Philosophy All rights reserved

19 An Advocacy/Bonding Conceptual Framework Develop Insights Measure Customer A]tudes, Emo8ons and Behavior Brand Staff Business Outcomes Customer Experiences Customer Rela8onship with Supplier/Brand Retention Rate Share of Wallet New Client Acquisition Value Touchpoints Beyond Philosophy All rights reserved What is the right construct to measure rela8onship?

20 What is the most actionable measure of a customer relationship? Is it... Customer Satisfaction? Engagement? Commitment? Loyalty? Secure Index? Recommendation? Advocacy? The best measure: Should reflect today s real- world market condi8ons Should relate directly to business outcomes Beyond Philosophy All rights reserved

21 Experience Research Accountability and Relevancy Most customer sa8sfac8on research programs today come under two types of pressures: ü What is the return on customer investment? Accountability ü Where is the brand s competitive advantage based on enhanced customer experiences? Relevancy ü Are we measuring the right customer attitudes and behaviors? ü Can the metrics help us make key decisions and allocate resources for our business?

22 The Strategic Roles of Customer Advocacy and Bonding In marke8ng and services decision- making guidance and how- to ac8on, including Marke8ng and Communica8ons Planning and Engagement Media Effec8veness Customer Service/Touchpoint/Process Experience Effect Company Image and Reputa8on Impact Product and Service Development Web Site Visit/Usage Op8miza8on Customer Rela8onship Building Brand Messaging and Posi8oning Assessment Loyalty Program Development/Refinement Customer Life Cycle Op8miza8on

23 Understanding Customer Advocacy and Bonding The concept of customer advocacy /bonding is used to mean different, but directly related, behaviors to different organizations. The advocacy/bonding framework segmentation and analysis offers: The best understanding of customer loyalty behavior for your brand or business Strategic segmentation of your customer base to focus on your best customers and reduce the damage to your brand from your Alienated customers The most direct linkage to business performance, and improvement opportunities Also, it is critical to note that: Advocacy is NOT Recommenda8on Advocacy is NOT Loyalty Advocacy is NOT Word- of- Mouth Advocacy is NOT Referral Advocacy is NOT Promo8on Advocacy and Bonding Are Much More!

24 How Is Customer Advocacy/Bonding Measured? Multiple questions are asked in a customer experience feedback survey and customer responses to these scaled items are used to classify them into four advocacy groups and set the basis for in-depth analytical insights. A full scale advocacy battery, based on customer support experience, includes: l Customer favorability towards brand l Future consideration l Intensity of brand support l Use of online and offline social networks l Positive and negative buzz/volume l Distribution of most recent purchases/competitive brand set Beyond Philosophy All rights reserved

25 Posi8ve and Nega8ve Things Said Past Six Months An advoca)ng/bonded customer speaks posi)vely about their experience, through use and/or service, and percep)on of the brand. Total Population Total Soaware Posi0ve Said Nega0ve Said Advocates Total Soaware Posi0ve Said Nega0ve Said Beyond Philosophy All rights reserved

26 Impact of Advocacy/Bonding Improvement Through Service Quality: Case Study of a B2B Client Share of Wallet/Retention 70% 60% 50% 40% Current ABC Bank Performance (22%) Achievable Target Over Next 3 yrs (28%) Retention Share of Wallet 30% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Percentage of Advocates Beyond Philosophy All rights reserved

27 Advocacy/Bonding Segmenta8on: Profile of A]tudes (Top Two Box Ra8ngs) (Scale: 1 10; 9 and 10 Are Top Boxes) Critical Attribute Advocate Allegiant Ambivalent Alienated Brand Has earned my trust and confidence It is a pleasure to do business with them The bank is definitely for people like me Staff Staff makes me feel like a valued customer Staff are trained to offer reliable services Staff follows up with information as needed Value Proposition Breadth of checking and savings accounts offered Variety of cards with different features suitable to you Communication of different products and their features

28 Advocacy/Bonding Driver Analysis Swing up and swing down (discriminant function) analysis identifies the emotional and rational experience performance attributes that will drive customers from Alienated to Ambivalent, Ambivalent to Allegiant, Allegiant to Advocate. Quality of Staff Services Critical to Reducing Alienated Critical to Building Advocates Analysis repeated for brand, product and key touch point abributes for input into an overall improvement ac8on plan. Staff makes me feel like a valued customer Staff appears competent and knowledgeable Staff are trained to offer reliable services Staff delivers service in a timely manner Staff follows up with information as needed Staff suggests only those products that are best for me 24% 21% 13% 14% 9% 6% 1% 5% 6% 12% 15% 22% Staff proactively suggests products and strategies that will help me 1% 17% I have an open and honest relationship with the people at my bank 13% 14% Staff always takes the time to talk with me 1% 10% à Alienated à Advocate Beyond Philosophy All rights reserved

29 Rela8onship Abributes for B2B Services Company Swing Up (to Advocate)/ Swing Down (to Alienated) Beyond Philosophy All rights reserved

30 Advocacy Applied to Customer Life Cycle Evaluation: Defected B2B Customer Advocacy-Based Research Example

31 Reasons for Defec8on Price is the most frequently stated reason for defec8on. Changes in business focus also fuel discon8nua8on. Though content is also men8oned, a closer look at the verba8m comments indicate that most oaen a business focus change rendered the content less meaningful, rather than a dissa8sfac8on with the content itself.

32 Building Customer Advocacy and Reducing Aliena8on Customer service 3% 3% Timeliness of information 1% 10% Usefulness of product delivery method 18% 5% Product quality 2% 6% Information content s relevance to your needs 2% 3% Competitiveness of pricing 2% 36% Billing accuracy 19% 2% Timeliness of problem resolution 2% 1% Licensing requirements 1% 4% Ease of doing business 4% 6% Reputation 23% 2% Market Leadership 2% 1% Understanding of your data/information needs 18% 6% Customer focus 2% 15%

33 Concluding Advocacy/Bonding Value Message The benefits of building advocacy can t be ignored. Sa9sfac9on and loyalty are important, but they re old news. It s a new dawn in customer experience strategy, where the customer controls over 50 percent of the overall brand message. Forward thinking companies will be the ones that can iden9fy and work with their customer advocates to genuinely build trust in the brand, the customer base, and the bodom line. Cul)va)ng Customer Advocates: More Than Sa)sfac)on and Loyalty 2011 Peppers & Rogers Group White Paper Beyond Philosophy All rights reserved

34 And finally Metric s forum A debate of this webinar Thursday June 26 th 2014 Customer Experience Measurement online training November 5 th & 19 th 2014 Discount code: WEBINAR25

35 Colin Shaw Founder and CEO Michael Lowenstein Thought Leadership Principal

Ac#onable Customer Experience Measurement: Linking Analy#cs, Customer Behavior and Brand Percep#on with Strategic Business Outcomes

Ac#onable Customer Experience Measurement: Linking Analy#cs, Customer Behavior and Brand Percep#on with Strategic Business Outcomes Ac#onable Customer Experience Measurement: Linking Analy#cs, Customer Behavior and Brand Percep#on with Strategic Business Outcomes Presented by Michael Lowenstein, Ph.D., CMC Thought Leadership Principal

More information

Net Promoter Score: A Critical Number Your Business Needs to Know

Net Promoter Score: A Critical Number Your Business Needs to Know 1 YouTube: http://www.youtube.com/watch?v=jowg1inpe_a Net Promoter Score: A Critical Number Your Business Needs to Know Holly Duarte NPS Manager Cummins Inc 1 The Golden Rule: The foundation of loyalty

More information

NPS2. Reaching the Next Level of Customer Experience Leadership. By Deborah Eastman

NPS2. Reaching the Next Level of Customer Experience Leadership. By Deborah Eastman NPS2 Reaching the Next Level of Customer Experience Leadership By Deborah Eastman Overview Get an introduction to NPS2, the next generation of the groundbreaking Net Promoter methodology. Find out how

More information

The Simple Way to Measure Customer Experience. First Briefing Paper

The Simple Way to Measure Customer Experience. First Briefing Paper The Simple Way to Measure Customer Experience First Briefing Paper 2014 1 The Simple Way to Measure Customer Experience 1.1 Measuring Customer Experience Customer experience ( CX ) is the sum of all the

More information

Seven key strategic questions critical to improving your Customer Experience Colin Shaw Founder & CEO Beyond Philosophy

Seven key strategic questions critical to improving your Customer Experience Colin Shaw Founder & CEO Beyond Philosophy Seven key strategic questions critical to improving your Customer Experience Colin Shaw Founder & CEO Beyond Philosophy www. Who are Beyond Philosophy? Customer Experience is is all we do.. Since 2002!

More information

Insider s Guide to Digital Media Measurement Sen5ment Analysis Symposium 2015

Insider s Guide to Digital Media Measurement Sen5ment Analysis Symposium 2015 Insider s Guide to Digital Media Measurement Sen5ment Analysis Symposium 2015 Presented By Stephen D. Rappaport, Global Digital Advisor, Sunstar Inc. Senior Consultant SDR Consul5ng E. steve@sdrconsul5ngllc.com

More information

CUSTOMER EXPERIENCE MANAGEMENT: STRATEGIES TO SUCCEED

CUSTOMER EXPERIENCE MANAGEMENT: STRATEGIES TO SUCCEED CUSTOMER EXPERIENCE MANAGEMENT: STRATEGIES TO SUCCEED WRITTEN BY: SUMAIR DUTTA, CHIEF CUSTOMER OFFICER JANUARY 2014 Page 2 of 10 SUMMARY Customer Experience Management (CEM) is more than Customer Feedback

More information

Special Report. RESULTS BASED Onboarding Evalua/on Tools and Metrics. Sign up to get your free report today!

Special Report. RESULTS BASED Onboarding Evalua/on Tools and Metrics. Sign up to get your free report today! Special Report Sign up to get your free report today! RESULTS BASED Onboarding Evalua/on Tools and Metrics By Robert C. Bilotti, Managing Director Novita Training Need to get a bigger bang for your buck

More information

CEM+ Calculator HOW DO YOU PREDICT THE ROI OF CUSTOMER EXPERIENCE? Introduction

CEM+ Calculator HOW DO YOU PREDICT THE ROI OF CUSTOMER EXPERIENCE? Introduction HOW DO YOU PREDICT THE ROI OF CUSTOMER EXPERIENCE? A key obstacle cited by many executives for measuring the customer experience is the difficulty of monetising the value of investments for improvement,

More information

GE Capital The Net Promoter Score: A low-cost, high-impact way to analyze customer voices

GE Capital The Net Promoter Score: A low-cost, high-impact way to analyze customer voices GE Capital The Net Promoter Score: A low-cost, high-impact way to analyze customer voices The Net Promoter Score: A low cost, high impact way to analyze customer voices GE Capital s Net Promoter survey

More information

WHITE PAPER Blending Strategy and Tactics

WHITE PAPER Blending Strategy and Tactics WHITE PAPER Blending Strategy and Tactics Benefits of an Integrated Approach to Measuring the Customer Experience The Challenge: Customer-Centricity Customer-centricity is at the heart of every successful

More information

CUSTOMER SATISFACTION SURVEY POINT Research and Marketing Consultancy

CUSTOMER SATISFACTION SURVEY POINT Research and Marketing Consultancy CUSTOMER SATISFACTION SURVEY POINT Research and Marketing Consultancy Copyright 2012 POINT Consultancy All rights reserved. No reproduction or distribution allowed without express written permission. The

More information

Moving the NPS Needle - How to Use Customer Feedback to Drive Improvement

Moving the NPS Needle - How to Use Customer Feedback to Drive Improvement Moving the NPS Needle - How to Use Customer Feedback to Drive Improvement Content Introduction: NPS for the Digital Enterprise 3 Chapter Three: Taking Action with Net Promoter Online 12 Chapter One: Vanity

More information

The Case for Improving the B2B Customer Experience

The Case for Improving the B2B Customer Experience The Case for Improving the B2B Customer Experience How better customer experiences can help you drive profitable growth and create competitive advantage I preferred the Other Brand s product but I bought

More information

Beyond Net Promoter Scores

Beyond Net Promoter Scores Beyond Net Promoter Scores Understanding Customer-Generated Word of Mouth A Shirman Group Client Brief The highly popular Net Promoter Score (NPS) customer satisfaction metric has gained broad adoption

More information

A Guide to the Net Promoter Score for Law Firms

A Guide to the Net Promoter Score for Law Firms A Guide to the Net Promoter Score for Law Firms Learn how to effectively measure and track your client satisfaction using the Net Promoter survey method for law firms. Copyright 2014 Inavero, Inc. All

More information

Are you listening to your customer feedback? A Handy Guide to Net Promoter Score

Are you listening to your customer feedback? A Handy Guide to Net Promoter Score Are you listening to your customer feedback? A Handy Guide to Net Promoter Score Net Promoter Score: The Basics Stop treating your feedback as another administration process and start treating it as a

More information

Customer Centricity in Banking: Driving Revenue and Loyalty. Developing the 21st century workforce TM

Customer Centricity in Banking: Driving Revenue and Loyalty. Developing the 21st century workforce TM Customer Centricity in Banking: Driving Revenue and Loyalty Developing the 21st century workforce TM In today s hypercompetitive banking environment, most financial-services firms are overlooking the one

More information

Temkin Group Insight Report

Temkin Group Insight Report ROI of Customer, 2014 CX Highly Correlates to Loyalty Across 19 Industries, Delivers Up To $460M Over 3 Years By Bruce Customer Transformist & Managing Partner Group September 2014 Group info@temkingroup.com

More information

The Case for Improving the B2B Customer Experience

The Case for Improving the B2B Customer Experience The Case for Improving the B2B Customer Experience How better customer experiences can help you drive profitable growth and create competitive advantage I preferred the Other Brand s product but I bought

More information

Colin Shaw. Founder & CEO, Beyond Philosophy. beyondphilosophy.com. Beyond Philosophy 2001-2008

Colin Shaw. Founder & CEO, Beyond Philosophy. beyondphilosophy.com. Beyond Philosophy 2001-2008 The DNA of Customer Experience: How emotions drive value. Colin Shaw Founder & CEO, Beyond Philosophy Customer Experience definition A Customer Experience is an interaction between an organisation and

More information

Insurance customer retention and growth

Insurance customer retention and growth IBM Software Group White Paper Insurance Insurance customer retention and growth Leveraging business analytics to retain existing customers and cross-sell and up-sell insurance policies 2 Insurance customer

More information

Strategies for Improving Customer Experience. Summary Results May, 2012

Strategies for Improving Customer Experience. Summary Results May, 2012 Strategies for Improving Customer Experience Summary Results May, 2012 Observa(ons and Conclusions Virtually all responders rate earning customer loyalty as central to their organization s core values.

More information

Amjad Zaim, PhD. Cognitro Analytics, Founder and CEO

Amjad Zaim, PhD. Cognitro Analytics, Founder and CEO Amjad Zaim, PhD Cognitro Analytics, Founder and CEO Cognitro Analy-cs Profile Overview of Marke-ng Segmenta-on Value Proposi-on Segmenta-on (VPS) Case Study United Global Holding Conclusion 2 COGNITRO

More information

Why Advocacy Is Not Enough

Why Advocacy Is Not Enough Why Advocacy Is Not Enough White Paper 2008 ResponseTek Networks Corp. Content Introduction... 3 Key Concepts... 3 Using Advocacy... 5 Relationship Between Advocacy and CEM... 5 Measuring Advocacy... 6

More information

Executive Summary. Overview

Executive Summary. Overview Jack Felton Golden Ruler Award Research Based Business Transformation: Benchmark and Tracking the Customer Experience Padilla Speer Beardsley and GfK for Rockwell Automation Executive Summary Listen. Think.

More information

The Customer Experience Management Business Case

The Customer Experience Management Business Case The Customer Experience Management Business Case Dennis Weiss, Federico Cesconi This paper is brought to you by: About CustVox CustVox AG, is a global specialist in Customer Experience Management (CEM).

More information

Net Promoter Score, Net Promoter and NPS are registered trademarks of Bain & Company, Satmetrix Systems and Fred Reichheld

Net Promoter Score, Net Promoter and NPS are registered trademarks of Bain & Company, Satmetrix Systems and Fred Reichheld The purpose of this Net Promoter System SM (NPS ) Assessment is to help you understand the progress your company or organization is making against a full potential Net Promoter System implementation. Your

More information

"The purest treasure mortal times afford is spotless reputation" Othello, William Shakespeare

The purest treasure mortal times afford is spotless reputation Othello, William Shakespeare Published on CustomerThink (http://www.customerthink.com) Home > Corporate Image, Trust, and Reputation and Customer Advocacy Behavior: Is There Linkage? Body: "The purest treasure mortal times afford

More information

Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1

Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Table of Contents Introduction... 3 Problem... 3 Solution... 5 Speech Analytics... 5 Effectiveness of speech analytics...

More information

DTCC Data Quality Survey Industry Report

DTCC Data Quality Survey Industry Report DTCC Data Quality Survey Industry Report November 2013 element 22 unlocking the power of your data Contents 1. Introduction 3 2. Approach and participants 4 3. Summary findings 5 4. Findings by topic 6

More information

Performance Management. Ch. 9 The Performance Measurement. Mechanism. Chiara Demar8ni UNIVERSITY OF PAVIA. mariachiara.demar8ni@unipv.

Performance Management. Ch. 9 The Performance Measurement. Mechanism. Chiara Demar8ni UNIVERSITY OF PAVIA. mariachiara.demar8ni@unipv. UNIVERSITY OF PAVIA Performance Management Ch. 9 The Performance Measurement Mechanism Chiara Demar8ni mariachiara.demar8ni@unipv.it Master in Interna+onal Business and Economics Defini8on Performance

More information

Net Promoter Score and Partnership Working

Net Promoter Score and Partnership Working Net Promoter Score and Partnership Working What we are going to cover Introduction to NPS NPS in a partnership working environment How to do it Strength and weaknesses Time for discussions and Q and A

More information

Six Steps for Flawless NPS Implementation

Six Steps for Flawless NPS Implementation Six Steps for Flawless NPS Implementation July 17, 2012 The Service Profit Chain Institute The Service Profit Chain Institute is a consulting firm dedicated to helping our clients succeed by improving

More information

Beyond the pill: How to improve the customer experience in pharma

Beyond the pill: How to improve the customer experience in pharma Beyond the pill: How to improve the customer experience in pharma A practical approach to creating value for patients and providers By Dave Michels, Christian Rebhan and Parijat Ghosh Dave Michels is a

More information

2015 Customer Success Industry Trends Report

2015 Customer Success Industry Trends Report 2015 Customer Success Industry Trends Report Table of Contents 3 EXECUTIVE SUMMARY 4 MEET THE SURVEY RESPONDENTS 6 WHO DOES YOUR HEAD OF CUSTOMER SUCCESS REPORT TO? 8 HOW WOULD YOU CHARACTERIZE THE MATURITY

More information

Asking the "tough questions" in choosing a partner to conduct Customer Experience Measurement and Management (CEM) programs for Your Company

Asking the tough questions in choosing a partner to conduct Customer Experience Measurement and Management (CEM) programs for Your Company Asking the "tough questions" in choosing a partner to conduct Customer Experience Measurement and Management (CEM) programs for Your Company A whitepaper by John Glazier Steve Bernstein http://www.waypointgroup.org

More information

The 2013 Financial Institution Consumer Recommendation & Loyalty Study Advanced

The 2013 Financial Institution Consumer Recommendation & Loyalty Study Advanced The 2013 Financial Institution Consumer Recommendation & Loyalty Study Advanced A study of the depth of consumer loyalty towards Australian Financial Institutions using the Net Promoter Score Net Promoter,

More information

Briefing Paper. How to Compete on Customer Experience: Six Strategic Steps. www.syn gro.c om SynGro SynGro 2013 2013 Tel: +44 (0 ) 15 06 5 92 2 24

Briefing Paper. How to Compete on Customer Experience: Six Strategic Steps. www.syn gro.c om SynGro SynGro 2013 2013 Tel: +44 (0 ) 15 06 5 92 2 24 Briefing Paper How to Compete on Customer Experience: Six Strategic Steps How to Compete on Customer Experience: Six Strategic Steps Voice of the Customer as a term has come to reflect the growing understanding

More information

Data management for improved customer experience and higher returns

Data management for improved customer experience and higher returns Data management for improved customer experience and higher returns An Experian Whitepaper Data management for improved customer experience and higher returns - 1 Table of contents 1. Executive summary

More information

Cultivate Subscriber Loyalty by Refining the Digital Experience

Cultivate Subscriber Loyalty by Refining the Digital Experience White Paper for Telecommunication Companies Cultivate Subscriber Loyalty by Refining the Digital Experience Abstract Understanding how the digital customer experience impacts brand promotion gives telecommunications

More information

A Quick Guide to Social Customer Service: Measure, Refine & Scale

A Quick Guide to Social Customer Service: Measure, Refine & Scale A Quick Guide to Social Customer Service: Measure, Refine & Scale Measuring how well your Social Customer Service program is working for both your customers and your business is not easy. For the last

More information

Strategies to Improve the Customer Experience 3eBook

Strategies to Improve the Customer Experience 3eBook Strategies to Improve the Customer Experience 3eBook 2 Three Strategies to Improve the End-to-End Customer Experience (CX) Focus on the following areas to take your customer experience to the next level:

More information

CUSTOMER LIFETIME VALUE?

CUSTOMER LIFETIME VALUE? WHAT IS CUSTOMER LIFETIME VALUE? By: Laura Bassett, Director of Marketing, Customer Experience and Emerging Technologies, Avaya Customer lifetime value (CLV) is both a concept and a measure. At its core,

More information

Why customer experience matters more than ever for enterprise IT

Why customer experience matters more than ever for enterprise IT Why customer experience matters more than ever for enterprise IT Greater pricing transparency and the rise of cloud services are among the changes giving end users more voice in technology buying decisions.

More information

The customer experience: have customers been forgotten?

The customer experience: have customers been forgotten? The customer experience: have customers been forgotten? In the current economic climate, keeping customers happy ought to be at the top of every company s agenda. But many managers are simply too bogged

More information

The State of Social Media Measurement Standards

The State of Social Media Measurement Standards The State of Social Media Measurement Standards Presented by: Ka9e Delahaye Paine, SNCR Fellow, CEO KDPaine & Partners 6 th Annual SNCR Research Symposium November 3 4, Harvard University s Faculty Club

More information

The 10 Week Business Success Challenge

The 10 Week Business Success Challenge The 10 Week Business Success Challenge Week Two: Branding Just who are You? Branding is so much more than your logo or colours. This week you will discover how to identify and weave your unique and authentic

More information

The Customer Journey. Verity Page, Head of Strategic Accounts

The Customer Journey. Verity Page, Head of Strategic Accounts The Customer Journey Minor changes, major results Verity Page, Head of Strategic Accounts Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reicheld

More information

thevaluespace Marketing I Sales I Customer Experience global learning, development & business services thevaluespace.com

thevaluespace Marketing I Sales I Customer Experience global learning, development & business services thevaluespace.com Marketing I Sales I Customer Experience global learning, development & business services thevaluespace.com Contact: Dr Gopal Kutwaroo BScEcon(Hons) MScEcon Ph.D MCIM DMI +44 (0)7825 829323 gk@thevaluespace.co.uk

More information

WHAT DO WE MEAN BY CUSTOMER ENGAGEMENT?

WHAT DO WE MEAN BY CUSTOMER ENGAGEMENT? THE AGE OF ENGAGE Viewpoint The age of engage WHAT DO WE MEAN BY CUSTOMER ENGAGEMENT? Chris Warren Non Exec Director Indicia Ian Stockley Managing Director Indicia It s a term that s come into common marketing

More information

Navigating the Alphabet Soup of Survey Methodologies. David Jackson CEO, Clicktools

Navigating the Alphabet Soup of Survey Methodologies. David Jackson CEO, Clicktools Navigating the Alphabet Soup of Survey Methodologies David Jackson CEO, Clicktools Life used to be simple. People charged with implementing customer feedback programs had one focus for their surveys: customer

More information

Customer Experience Management

Customer Experience Management Customer Experience Management 10 tips for the successful development and execution of Chris Bland Research Director SPA Future Thinking Introduction, sometimes referred to as Customer Feedback Programmes,

More information

LOST YOUR CRM DIRECTION?

LOST YOUR CRM DIRECTION? LOST YOUR CRM DIRECTION? THIS 5-STEP ROADMAP CAN HELP The better an organisation understands its customers and their needs and their expectations, the greater opportunity it has to satisfy those needs

More information

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Lynn Brunner Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions,

More information

The Age of the Customer: Focus on Retention

The Age of the Customer: Focus on Retention The Age of the Customer: Focus on Retention A 5% increase in customer retention can boost profitability 75%. Does your customer loyalty make the grade? CONTENTS Customer Lifecycle 101: Roadmap to Customer

More information

THE 2015 CUSTOMER EXPERIENCE ROI STUDY

THE 2015 CUSTOMER EXPERIENCE ROI STUDY THE 2015 CUSTOMER EXPERIENCE ROI STUDY Demonstrating the business value of a great customer experience Excellence leaves a lasting impression TM A MESSAGE FROM WATERMARK S F O U N D E R Six years ago,

More information

Integra(ng Data Analy(cs into a Risk- Based Audit Plan. Presented by: Andrew Simpson, MBA, Chief Operating Officer, CaseWare Analytics

Integra(ng Data Analy(cs into a Risk- Based Audit Plan. Presented by: Andrew Simpson, MBA, Chief Operating Officer, CaseWare Analytics Integra(ng Data Analy(cs into a Risk- Based Audit Plan Presented by: Andrew Simpson, MBA, Chief Operating Officer, CaseWare Analytics Drivers of Risk Management Risk is high on the agenda for boards today

More information

Fixed Scope Offering (FSO) for Oracle SRM

Fixed Scope Offering (FSO) for Oracle SRM Fixed Scope Offering (FSO) for Oracle SRM Agenda iapps Introduc.on Execu.ve Summary Business Objec.ves Solu.on Proposal Scope - Business Process Scope Applica.on Implementa.on Methodology Time Frames Team,

More information

Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale

Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale Linking Employee Satisfaction, Employee Engagement, and Employee Ambassadorship Session 1: Ambassadorship Concept/Framework Introduction and Rationale Driving A Successful Customer-Centric Culture Through

More information

Valuing a Target Using Net Promoter Score (NPS)

Valuing a Target Using Net Promoter Score (NPS) Valuing a Target Using Net Promoter Score (NPS) By Lumeric Consulting LLC March 2011 Contents Net Promoter Score Overview of Net Promoter Score (NPS) 2-4 NPS case example commercial due diligence 6-11

More information

DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS

DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS by Dave Nash and Mazen Ghalayini; Contributions by Valentin Grasparil This whitepaper is the second in a 3-part series

More information

Moving Beyond Social CRM with the Customer Brand Score

Moving Beyond Social CRM with the Customer Brand Score Cognizant 20-20 Insights Moving Beyond Social CRM with the Customer Brand Score Travel and hospitality organizations can boost customer loyalty by better understanding customer behaviors and attitudes,

More information

How to Build Successful Customer Satisfaction and Loyalty Programs That Drive Growth

How to Build Successful Customer Satisfaction and Loyalty Programs That Drive Growth SPECIAL REPORT How to Build Successful Customer Satisfaction and Loyalty Programs That Drive Growth By Julie Schwartz Companies struggle to get a clear view of customer satisfaction and loyalty because

More information

Email: Optimization for Smartphone Screens is Key to Retaining Consumer Interest

Email: Optimization for Smartphone Screens is Key to Retaining Consumer Interest Mobile FirstLook Strategy 2014 Email: Optimization for Smartphone Screens is Key to Retaining Consumer Interest Steve Rowen, Managing Partner, RSR Research Matthew Witt, Executive Vice President and Director

More information

Measuring Customer Effort

Measuring Customer Effort Measuring Customer Effort A hassle free introduction Craig Strudley Research Director Measuring Customer Effort The idea of a Customer Effort measure was first introduced back in 2010 when the Harvard

More information

Maximizing Your Customer Experience Management Metrics

Maximizing Your Customer Experience Management Metrics Maximizing Your Customer Experience Management Metrics For Internal Use Customer Experience Is The New Brand Image Other people s experiences influence everyone Good and bad experiences impact non-customers

More information

Effective Strategies for Customer Experience Management. Dan Koroscil Director of Support and Service

Effective Strategies for Customer Experience Management. Dan Koroscil Director of Support and Service Effective Strategies for Customer Experience Management Dan Koroscil Director of Support and Service Transforming the Organization 1. Establish a sense of urgency 2. Form a powerful guiding coalition 3.

More information

Managing the Customer Experience by Measuring the Impact Payoff

Managing the Customer Experience by Measuring the Impact Payoff W E B C A S T S E R I E S Managing the Customer Experience by Measuring the Impact Payoff April 24, 2013 2pm to 3pm EDT Featured Speakers Gael Lundeen Vice President Customer Experience Dennis Fitzgerald

More information

Measure the Value of Customer Experience Improvements

Measure the Value of Customer Experience Improvements WHITE PAPER Measure the Value of Customer Experience Improvements Customer Experience Value Analysis connects customer initiatives to tangible financial impact. A TeleTech Company Table of Contents Key

More information

Using SAS Enterprise Miner for Analytical CRM in Finance

Using SAS Enterprise Miner for Analytical CRM in Finance Using SAS Enterprise Miner for Analytical CRM in Finance Sascha Schubert SAS EMEA Agenda Trends in Finance Industry Analytical CRM Case Study: Customer Attrition in Banking Future Outlook Trends in Finance

More information

CRM. Best Practice Webinar. Next generation CRM for enhanced customer journeys: from leads to loyalty

CRM. Best Practice Webinar. Next generation CRM for enhanced customer journeys: from leads to loyalty CRM Best Practice Webinar Next generation CRM for enhanced customer journeys: from leads to loyalty Featured guest speaker Leslie Ament SVP Research and Principal Analyst at Hypatia Research Group and

More information

Customer Experience Management

Customer Experience Management Customer Experience Management Best Practices for Voice of the Customer (VoC) Programmes Jörg Höhner Senior Vice President Global Head of Automotive SPA Future Thinking The Evolution of Customer Satisfaction

More information

SATISFYING YOUR CUSTOMERS. Part 1. Best Practices and Technology that Anchors Your Business On Customer Loyalty. www.axisgp.

SATISFYING YOUR CUSTOMERS. Part 1. Best Practices and Technology that Anchors Your Business On Customer Loyalty. www.axisgp. SATISFYING YOUR CUSTOMERS Best Practices and Technology that Anchors Your Business On Customer Loyalty Part 1 www.axisgp.com (305) 418 9440 INTRODUCTION Satisfied customers are the foundation of a healthy

More information

Satisfaction with Contact Centers Drives Customer Loyalty

Satisfaction with Contact Centers Drives Customer Loyalty Satisfaction with Contact Centers Drives Customer Loyalty By Sheri Teodoru CFI Group Partner and CEO Across American industry, company contact centers have become critical channels for building customer

More information

Five steps to improving the customer service experience

Five steps to improving the customer service experience Five steps to improving the customer service experience Metrics, tips, and tools for utilizing customer feedback An Ovum White Paper Sponsored by Publication Date: January 2012 INTRODUCTION As the use

More information

The Inside Stories Behind Today s Most Successful Customer-Centric Companies

The Inside Stories Behind Today s Most Successful Customer-Centric Companies W E B C A S T S E R I E S The Inside Stories Behind Today s Most Successful Customer-Centric Companies July 24, 2014 2 pm to 3 pm EDT Featured Speakers Bob Thompson Founder & President Rob McCabe VP, Global

More information

Kotler Keller. Marketing Management 14e

Kotler Keller. Marketing Management 14e Phillip Kevin Lane Kotler Keller Marketing Management 14e Crea%ng Long- term Loyalty Rela%onships Discussion Ques%ons 1. What are customer value, sa%sfac%on, and loyalty, and how can companies deliver

More information

Getting Behind The Customer Experience Wheel

Getting Behind The Customer Experience Wheel Getting Behind The Customer Experience Wheel Create a Voice of the Customer Program for your Organization In any business, serving your customers well is critical to success, loyalty and growth. But do

More information

Brand metrics: Gauging and linking brands with business performance

Brand metrics: Gauging and linking brands with business performance Brand metrics: Gauging and linking brands with business performance Received (in revised form): rd February, 00 TIM MUNOZ is a managing partner of Prophet (www.prophet.com), a management consulting firm

More information

Strategic Guide to creating a World Class Customer Advisory Board Program

Strategic Guide to creating a World Class Customer Advisory Board Program Strategic Guide to creating a World Class Customer Advisory Board Program This paper is authored from CustomerAdvisoryBoard.org industry association research including the CAB Manager Industry Surveys,

More information

White Paper Seven Key Components To Improved Customer Experience

White Paper Seven Key Components To Improved Customer Experience Consumer Products Sector We make it happen. Better. White Paper Seven Key Components To Improved Customer Experience A Practical Guide to Creating Holistic Customer Experiences that Drive Long-term Loyalty

More information

3.17.10. CEO SERIES: Get ahead of your competition by using social media

3.17.10. CEO SERIES: Get ahead of your competition by using social media 3.17.10 CEO SERIES: Get ahead of your competition by using social media ICIC CEO Series: Social Media March 17, 2010 Introduction Social Media how a communica8ons evolu8on became a revolu8on The evolu8on

More information

From Issue to Action Evaluating the experience in the foundation of a CX program for a global player within the webhosting industry

From Issue to Action Evaluating the experience in the foundation of a CX program for a global player within the webhosting industry From Issue Evaluating the experience in the foundation of a CX program for a global player within the webhosting industry CX Forum, Bern, 15.11.2012 Michael Galla 1&1 Internet AG 2010 Page1 1&1 Hosting

More information

How Australia s utilities can boost customer loyalty

How Australia s utilities can boost customer loyalty How Australia s utilities can boost customer loyalty As growth slows in Australia s electricity and natural gas markets, keeping customers happy becomes more important than ever. By Katrina Bradley and

More information

Customer Engagement What s Your Engagement Ratio?

Customer Engagement What s Your Engagement Ratio? Customer Engagement What s Your Engagement Ratio? Copyright 2009 Gallup, Inc. All rights reserved. Gallup, CE 11, Q 12, Performance Optimization TM, The Gallup Path, Gallup Poll, Gallup University, Gallup

More information

Engagement: Measuring the Impact of Social Media

Engagement: Measuring the Impact of Social Media Engagement: Measuring the Impact of Social Media Laura Ramos Vice President, Principal Analyst Forrester Research June 3, 2009 Social media will change how marketing engages with customers and demonstrates

More information

The Loyalty Robot Learn how to increase customer loyalty and grow online sales automatically

The Loyalty Robot Learn how to increase customer loyalty and grow online sales automatically The Loyalty Robot Learn how to increase customer loyalty and grow online sales automatically Adam Dorrell Webinar 10 Mar 2010 Adam.dorrell@directness.net Agenda & Hosts Introduction Why build a Loyalty

More information

Welcome to ICMI s Leadership and Business Management. ICMI Study Course

Welcome to ICMI s Leadership and Business Management. ICMI Study Course Welcome to ICMI s Leadership and Business Management Study Course Strategy and Valuation We will begin the session shortly. Administrative Notes Participate! Taking notes 3.1 1 Today s Agenda Vision, mission

More information

CUSTOMER SUCCESS STORY

CUSTOMER SUCCESS STORY CUSTOMER SUCCESS STORY Using Client Feedback Strategically to Nurture and Sustain Growth Since we are growing so fast, there can be a tendency to focus on operational and financial data and to lose sight

More information

The Banking Relationship Management Experience

The Banking Relationship Management Experience The Banking Relationship Management Experience A Strategy for Becoming a Trusted Financial Partner and Increasing Revenue and Profitability A White Paper by High Definition Banking Table of Contents I.

More information

Choosing the right CX metric

Choosing the right CX metric STRATEGIC ACCELERATION SERVICES Choosing the right CX metric By Donnovan D. Simon A review of CX metrics Many companies invest lots of time and money measuring how their customers feel about their company,

More information

Improving Customer Satisfaction to Accelerate Your Business Results

Improving Customer Satisfaction to Accelerate Your Business Results Improving Customer Satisfaction to Accelerate Your Business Results Adrian Posteraro Managing Director Agenda About Presenter Why Customer Satisfaction (CSAT) Benefits of CSAT How to Implement a CSAT Process

More information

GAME-CHANGING TRENDS IN SUPPLY CHAIN

GAME-CHANGING TRENDS IN SUPPLY CHAIN customer teams FIRST focused ANNUAL on serving REPORT override system designations BY THE of SUPPLY available CHAIN MANAGEMENT FACULTY AT THE The research partners at UNIVERSITY Ernst and Young OF TENNESSEE

More information

20 Best Practices for Customer Feedback Programs Building a Customer-Centric Company

20 Best Practices for Customer Feedback Programs Building a Customer-Centric Company Business growth through customer insight 20 Best Practices for Customer Feedback Programs Building a Customer-Centric Company The content of this paper is based on the book, Beyond the Ultimate Question,

More information

LISTEN TO THE VOICE OF CUSTOMER EXPERIENCE

LISTEN TO THE VOICE OF CUSTOMER EXPERIENCE LISTEN TO THE VOICE OF CUSTOMER EXPERIENCE The Four Essentials of a Customer Experience Program www.nice.com WHERE CX PROGRAMS STUMBLE Many companies recognize the value of a customer experience (CX) program,

More information

The Top 9 Ways to Increase Your Customer Loyalty

The Top 9 Ways to Increase Your Customer Loyalty Follow these and enjoy an immediate lift in the loyalty of your customers By Kyle LaMalfa Loyalty Expert and Allegiance Best Practices Manager What is the Key to Business Success? Every company executive

More information

Harnessing Voice of the Customer for Incremental Innovation

Harnessing Voice of the Customer for Incremental Innovation A three-page excerpt from our 15-page Best Practice Guidebook: Harnessing Voice of the Customer for Incremental Innovation 1 Best Practice Guidebook Harnessing Voice of the Customer for Incremental Innovation

More information

Managing the Guest Experience High Tech or High Touch?

Managing the Guest Experience High Tech or High Touch? Managing the Guest Experience High Tech or High Touch? Carlo Fontana, CEO carlo.fontana@hoxell.com CRM is a customer centric business philosophy dedicated to winning and keeping customers by creating and

More information

The Role of Feedback Management in Becoming Customer Centric

The Role of Feedback Management in Becoming Customer Centric A Customer Centricity White Paper 5 Old Coach Road Hudson, NH 03051 603-491-7948 www.customercentricity.biz The Role of Feedback Management in Becoming Customer Centric By Stewart Nash QuestBack Boston

More information