You might want to take notes as you go through this week’s collection of CX buzz. Our team collected articles that cover everything from the inside (office productivity and measuring results) to the outside (customer loyalty programs.) The insights from many of these reads serve as great conversation starters. You can even include some of the stats in your next presentation.
Let us know your thoughts on the buzz by commenting below, or reach out to us on Twitter: @NICE_Enterprise.
Why are so many customer loyalty programs under-performing? [mycustomer.com]
We begin this week’s CX buzz with an insightful article that talks about the under-performance of customer loyalty programs.
Loyalty memberships increased by 10% per year between 2008 and 2012. For that reason alone, the proliferation of loyalty programs is understandable. However, evidence suggests that these programs are not always the silver bullet solution that common wisdom would suggest. In a McKinsey study of 55 companies, it was concluded that loyalty programs did not appear to drive stronger revenue growth, although results were highly dependent on the type of industry.
The author discusses the causes for the above contradictions in detail and tries to shed some light on the workings of the loyalty programs based on various industries.
The Customer Service Strategy with the Best ROI [forbes.com]
What is a better strategy? Is the method to increase the “wow” factor the right direction for excellent customer experience, or is it better to reduce the number of instances of customer disappointments?
According to the author, most customers will be happy if things just work, first time, easily, and each time. Minimize disappointments and you’ll create happy customers.
The Unforgiving Brits: Unhappy Consumers in the UK Punish Poor Service More Than US Consumers [beyondphilosophy.com]
According to new research from New Voice Media, UK consumers are more likely than US consumers to drop an organization due to poor service. By defining that over $20 Billion in revenue is transferred due to bad service from firm to firm in the UK, this study reveals that minding the customer experience is more critical than ever, particularly if you are in business in the UK.
We are sure you will enjoy the statistics in this article.
Customer Service Metrics - Measuring Quality vs. Quantity: A Major Issue [customerservicezone.com]
There are hundreds of metrics that companies can use to measure customer service. However, the nature of metrics is that they are MEASURABLE, meaning we need to use numbers to describe the data. Metrics are quantitative. In addition to needing quantitative measures, the data on which to calculate those metrics has to be easily available without companies having to spend millions to get that data.
Robert Bacal, CX expert and the author of this blog, has compiled a list of articles related to customer service metrics that put forth the views of various experts for you to decide the best way ahead.
Happy People Are More Productive Employees [experiencematters.wordpress.com]
Did you know that 63% of happy employees would help their colleagues in their office without being asked, as opposed to only 43% of not-so-happy employees? Did you know that happy employees take less number of leaves than their unhappy counterparts?
CX expert, Bruce Temkin, proves that happy workers are more productive, using these statistics and more.