What’s the CX buzz this week? (5th May, 2014)

In this week’s collection of CX buzz, we put together a great blend of insightful articles that cover topics such as customer loyalty, organizational cultures, and of course, the customer experience. This mix offers a little something for everyone to learn from, so be sure to share the knowledge with other CX professionals.

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

Customer Loyalty is Almost Dead: Can VoC Programs Save It? [customerthink.com]

We begin this week’s CX buzz with an article that ties into customer loyalty.

In today’s world, customer loyalty may not be dead, but it certainly is not as strong as it had been in the past. Customers now are more empowered, and your competitors contribute to that empowerment.

With so many options available for the customer, the balance of power has shifted from the seller to the customer. However, despite the many tempting offers out there vying for the customer’s attention, your customer is not as fickle as one might think. There is one thing that remains constant in customers’ set of preferences: the need to feel valued as a person and not treated as just another account number. To meet this expectation, organizations need to get into the customer’s head. A good VOC program is best way forward.

5 Steps To Create And Sustain Customer-Centric Culture [blogs.forrester.com]

The most common question among business leaders is: What are the steps in the process to actually transform organizational culture to be customer-centric?

According to Forrester, following are the five critical steps that need to be followed as per their research:

Step 1: Secure Executive Support (No, Really)

Step 2: Build a Customer Experience Team to Lead the Transformation

Step 3: Create a Shared Understanding of the Intended Experience

Step 4: Rally and Align All Employees to the Cultural Transformation

Step 5: Embed Customer Experience Principles into the Organization

Got Empathy? [businessoverbroadway.com]

According to Bruce Temkin, “empathy” is the customer experience word for 2014. He offers a great list of things companies can do to encourage employees to show empathy toward their customers, including examining customer journeys, continually reviewing customer feedback (especially verbatim responses) and empowering random acts of kindness. In its basic form, empathy is defined as the ability to understand and share the feelings of others.

The author Bob Hayes, a Big Data expert, tries to demonstrate the necessity of empathy in customer experience success with the help of some funny videos.

What Marketers Talk About When They Talk About Customer Experience [4hoteliers.com]

CX is the most frequently raised issue by marketers, and the topic everyone seems to want to know most about. Specifically, how large companies can use increased knowledge of their customers to deliver a more relevant, engaging and useful experience for their current and prospective customers.

When marketers are asked to describe what customer experience means to them, they tend to mention three facets:

  • Speed

  • Seamless Experience

  • Personalization

Report: Positive Customer Experiences Decline, Raising Alarm [banktech.com]

We end this week’s CX buzz on a rather cautious note. Bank customers say they are getting fewer positive customer experiences, particularly Gen Y customers, according to a new Capgemini study. Customer experience in every region of the globe (except Latin America) declined, reversing an appreciable gain made in 2013. Lower scores in nearly two-thirds of the 32 countries surveyed -- including decreases of more than 10 percent in the share of customers with positive experiences in nine markets -- decreased the global average by 0.6 percentage points to 72.9.

Know the reasons for this decline by going through this well compiled article.

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