What’s the CX buzz this week? (10th Feb, 2014)

In this week’s edition of CX Buzz, we gathered articles covering everything from the customer experience, to Big Data, to ROI. The variety will surely capture the interest and curiosity of CX Professionals. Have a look, and let us know what you think of these insightful and informative pieces. Our team found each of them to be great conversation starters!

Let us know your thoughts by commenting below, or reach out to us on Twitter: @NICE_Enterprise

Do you love your customers? [sethgodin.typepad.com] 

We begin this week’s CX buzz with a short and meaningful post from CX expert, Seth Godin. He begins the article by asking, “Do you love your customers?” He then describes two contradictory points of view for a possible answer.

Godin’s point is that customers can tell when you are faking customer service. Customers also know when you genuinely care about them. Only genuine attempts to help the customer will help build an excellent customer experience.

Big Data Trends for 2014 [businessoverbroadway.com]

Big Data expert Bob Hayes gathered predictions for 2014 from Big Data vendors. This article summarizes what he learned.  

Here are some of the predictions: investments for Big Data-related initiatives will increase; indifference in the decision-making processes will continue; there will be skills shortages; and many more. The author cites well-researched statistics used by various businesses to support each prediction, and some of the numbers are real eye-openers.

The satisfied customer paradox [customerthink.com]

At NICE, we believe that employee engagement is the key to driving the customer experience. This same belief is asserted in this very interesting article, which takes a unique approach to prove the point. The author argues that, according to a recent research, there is no correlation between satisfied customers and business results. In fact, he talks of the existence of a negative correlation. He explains that the better the company’s performance in its market, the more competitive pressures are created in the company’s various silos, which leads to a greater chance of losing business.

So what does this mean? Should businesses remain small in order to continue being successful? On the contrary, what it means is that management’s formulas for success should not change as the market grows. Managers must continue to insist that employees be willing to go the extra mile for the customers. This in turn means that employee engagement is the most important mainstay of an excellent customer experience and continued growth of the company.

Customers happy to pay a premium for good service [mycustomer.com]

Did you know that, according to UK Customer Satisfaction Index (UKCSI), 60% of customers would not accept lesser service for cheaper deals? And 25% are willing to pay a premium for superior service? These and many other important metrics collected over the past few years are included in this post by Chris Ward, Deputy Editor of MyCustomer.com

Hope you enjoy the article as much as we did!

Fake ROI and Customer Experience [blogs.sap.com]

And we end this week’s buzz with an article that talks about a topic most important to any senior management: the connection between the customer experience and the company’s return on investment (ROI).

The author warns of avoiding some of the approaches that might create a misleading impression of the impact of customer service on ROI. In the end, the author concludes that the purpose of the business is to create and keep the customer. As long as the customer is happily on board with you, all the metrics are of secondary importance.

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