What’s the CX buzz this week? (28th Jul, 2014)

We decided to add an extra dose of insight in this week’s collection of CX Buzz. In addition to great reads on the customer experience and delivering exceptional service, we are serving up employee engagement statistics, advice from top CEOs, and more. There is a great deal of information that CX professionals of all levels could easily pick up on, and use in future meetings or presentations – so don’t forget to share these insights with your network!

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

CEO’s Advice for the Customer Experience Champion’s Role [beyondphilosophy.com] 

Colin Shaw, a CX expert and the author of this article, lists some of the advice CEOs of various companies have given for the Customer Experience Champion’s role. They include:

  • Ask the right questions to get the answer for customer experience
  • Passion for putting the customer first comes from the top
  • Building a great customer experience focused on customers’ emotions is a journey, not a destination

6 Eye-Opening Employee Engagement Statistics [talentculture.com]

Did you know that increasing employee engagement investments by 10% can increase profits by $2,400 per employee, per year? Engaged employees can lead to:

  • Higher service
  • Higher customer satisfaction
  • Increased sales
  • Higher levels of profit
  • Higher shareholder returns

The Dark Age of Customer Service [business2community.com]

Although CX is a thriving industry, the overall customer satisfaction index has reduced from last year by a significant percentage. Some of the (obvious) reasons are as follows:

  • Money - Executives live in a world of bottom lines and bonuses. Long-term effects are ignored for short-term profits
  • Training - Training budgets are shrinking by the day. An untrained workforce leads to subpar interactions.
  • Culture – C-suite executives need to be involved at all levels.
  • Technology – Insufficient use of existing technology and looking out for newer ones.

 Brands blasted for prioritizing new customers over existing ones [mycustomer.com]

Did you know that 49% of consumers often switch providers because of the lack of incentives dished up to them once they are tied into a business or product? The author suggests there are five key principles for executing an effective customer retention strategy:

  • Ease of redemption
  • Reward choice
  • Maintain excitement
  • Surprise and delight
  • Communication and engagement

How To Fail Slowly At Customer Service: Three Hazards That Can Kill Your Business over Time [forbes.com]

Dramatic customer service flameouts aren’t necessarily what will kill a business, even in the age of social media. What will get you, surely and relentlessly, are the little things:

  • Cutting corners – Customer Experience should not be affected by external unrelated factors.
  • Inertia – Consistency is the key to retaining customers.
  • Hedonic adaptation – Not getting bored of the repeated activities.
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