Is it possible to measure something as seemingly subjective as customer experience? In this week’s CX Buzz, several authors argue that you can and should. Because customer experience has real, tangible effects on the bottom line, you must implement benchmarks and processes to ensure you are on the right track. One way is to simply ask your customers, through Voice of the Customer programs. Another way is to measure the non-resolution rate, as Amazon does. Whatever benchmarks you adopt, it is important to make consistent progress, one step at a time.
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Customer Engagement – Can You Measure the ROI? [customerthink.com]
It’s funny how numbers can put things into perspective. Most executives would agree that improving customer engagement is a good thing. But without precise benchmarks for measuring how it affects the bottom line, they don’t make it a priority. This article offers a brass-tacks way to actually measure things like customer intimacy and customer loyalty. One way is to gather customer data – whether from internal systems, customer interviews, or surveys.
Forget the Competition. Think Customers. [playbook.amanet.org]
The author of this article, David Braun, urges readers not to let the competition define one’s growth strategy. Instead, plan for the people who matter the most â”€ your customers. While it’s important to keep an eye on competitors, it is unwise to base your strategy on what they do. That’s because you will always be a step behind them, someone else will be driving your business, and you will be over-focused on today.
Rather than worrying about your competitors, focus on what matters the most: your customers. After all, without them, your business would cease to exist. Obvious as it may seem, leaders easily forget this fact when they are preoccupied with outperforming their rivals.
5 Reasons Why Customer Feedback Matters More Than Ever [customerthink.com]
You may be treating your customers like kings and queens as well as providing everything to match their wants and needs all the time. Now, how do you know if your strategies are working? How do you know if your customers are happy with their experiences in your company? What do they like and dislike about your products and services? How do you keep up with their demands?
The first step to fully understand a customer’s perception of your brand is by asking them directly, and the best way to get “the voice of the customer” is through customer feedback. Call centers, being the focal point for customer interactions, hold a huge opportunity to gather customer feedback that can provide valuable insights to improve every aspect of your business.
How to Pay for a Better Customer Experience [1to1media.com]
So you’ve come around in your thinking and you agree that you need to improve customer experience. But how much will it cost you? It costs money to implement changes, even if it earns you money in the long term.
At Amazon, the most useful indicator of a customer's satisfaction is considered to be "resolution." The company wants to ensure that all of a customer's problems are quickly and easily resolved, so that no friction interferes with any customer's experience. The Non-Resolution Rate (NRR) is considered by some Amazon execs to be, “the single most important metric they use to gauge their success in their own call centers.”
Your company may set different benchmarks for what makes good customer experience. The trick is to identify the sources of friction in your customer experience, and then work to resolve them, one at a time.
Why the Journey of Today’s Customers Must Change [bluenose.com]
The customer is king. Have you ever heard that expression? Well today it is truer than ever before. With the Internet and social media at their fingertips, customers are demanding quick resolutions to their problems accompanied by a “wow!” experience.
The author, Wendy Lea, recommends rethinking and revamping your customer experience journey if you want to please today’s entitled customer. It is not going too far to be “customer obsessed,” she writes. And it can’t just be a one-time project; it has to be a full-time commitment from your entire organization. You won’t be able to get more customers or keep the ones you have unless that customer experience is constantly improving.
We hope you enjoyed our picks and bookmarked a few of these articles for future reference. Please don’t forget to share the buzz with other CX professionals.
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