What’s the CX buzz this week? (13th Jan, 2014)

We collected a variety of informative articles on CX and contact centers, including many interesting statistics. These insights offer a great reference point as companies work towards revamping their CX strategies for 2014. Don’t forget to bookmark and take notes!

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Customer Service Is Everything (Infographic) [business2community.com]

Did you know that the customer service sector makes up a whopping 68% of the U.S. GDP? Did you know that only 1% of customers in the US feel they receive good service? Also, did you know that only 26% of companies have a plan in place to address customer service improvement?

We begin this week’s CX buzz with many interesting statistics about the customer service industry, a majority of which are taken from this great Infographic. Take a look at the Infographic and article.

The Death of the Contact Center...The Rise of the Relationship Center [nojitter.com]

The post begins with a thought-provoking question: If companies are claiming to be focused on the customer experience, then why aren’t their customers satisfied? Are companies being truthful about their claims, and if so, is there something else causing a major hurdle?

The author believes it is a mix of both. In the name of development, companies are investing in newer technologies and succeeding in reducing their costs by streamlining their processes. During the process however, they tend to forget about their customers. This ultimately leads to the customers dealing with multiple silos during the course of their customer journey.

In the end, the author offers some very good advice to companies on how best to move forward in their endeavors to improve the customer experience.

Customer Service – Your Most Powerful Retention Tool [teleperformance.com]

Reducing customer churn by 5% could increase the profits by up to 125%.These statistics from Gartner really make us understand the value of customer service.

The author supplemented his blog with links to Infographics and industry reports, which further highlight the importance of customer service and provide some very strong numbers to support the premise.

A Remarkable Customer Experience Trumps... [cx-journey.com]

Picking up from the last post, Annette Franz, a customer experience expert, further amplifies the importance of customers by looking at them as brand ambassadors rather than service seekers.

Did you know that 9 out of 10 customers will pay more for a better customer experience? Did you know 64% of brand promoters are likely to forgive, compared with 11% of detractors? With more and more statistics to support this idea, it is abundantly clear that expenditures to improve customer service can result in profits for businesses.

Ten Customer Experience Prediction Posts from 2013 [barrydalton.com]

We will end this week with one of the most common themes of any new year, a look back at the predictions made for this past year versus the reality of what actually transpired. To know where you’re going, it is vital to understand where you’ve been – so looking back at the past is always helpful in guiding prognostications of near future trends.

The author, Barry Dalton, another customer experience expert, has compiled a list of predictions around customer experience that were made by various research institutions, analysts and industry experts for 2013. The author concludes that the predictions were generally accurate but not completely fulfilled, which reinforces the common belief that the delivery of customer experience is a practice that needs to evolve over time.

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