A few weeks ago we fielded a Benchmark Survey to put the results of...
As I described here recently, banks can get big financial rewards for even modest improvements in customer experience (CX). Allegiance’s... View Article
I've written in the past about some of the big challenges facing the customer experience (CX) discipline, such as a lack of real understanding among executives and a confusing tech market. Those issues are still around, but they've been pretty well documented lately and have CX leaders appropriately on guard. Now there's a more insidious threat on the horizon: tunnel vision.
Customer experience (CX) pros are constantly asked, and ask themselves, “What’s the ROI?” It’s a logical and important question, even... View Article
In my spare time, I have the pleasure of sitting on the Customer Experience Professionals Association (CXPA) "CX Expert" panel, where nine other panelists and I field questions from members (and one another) on all things CX. Recently, my fellow panel member and Allegiance partner, John Carroll of Ipsos, inquired about the convergence of customer feedback and CRM. I think a lot about this convergence in my role at Allegiance and as an industry watcher in general. It's happening more and more, and there's significant value in it. However, as with many early developments, the value often gets confused in the marketplace. I started my response to John by describing the flavors of convergence we see adding value, and I thought this overview might be helpful for the broader VoC and CX world.
I recently sat down with my colleague Jamie Ziegler to chat about the role of sales organizations in customer loyalty programs – an important consideration for B2B companies. Jamie has a wealth of practical knowledge on the topic having run global loyalty programs at JD Edwards and VMware and spent several years as an enterprise salesperson herself. As we talked, we naturally hit on a number of well-documented best practices like closing the loop directly with customers for service recovery and growth. We also identified a handful of equally important but often forgotten tips. Here are five of the less obvious items you can use to give your program a boost.
It's often said that customers who encounter problems and get good service recovery are more loyal than customers who never encounter problems at all. This is known as the service recovery paradox. It's a seductive idea, and it's become standard wisdom in the customer experience and service worlds. But is it actually true? Sometimes. Maybe.
I shared the details of the retention and acquisition increases in my last two posts. Here are the details for share of wallet...
Today, most VOC practitioners generate insights from their data by following the basic flow of the scientific method. They pinpoint some kind of problem that they want to investigate, such as customer churn or dissatisfaction. Then they think up a hypothetical explanation (a hypothesis) that they can test. Data mining changes all that.
Voice of customer (VoC) and customer experience (CX) practitioners often ask, “How good is our program?” To help with this... View Article
The leaders we talk with often ask how good their voice of customer (VoC) programs are and how they compare... View Article
A few weeks ago we fielded a Benchmark Survey to put the results of our new online VoC Program Effectiveness... View Article
The move from traditional customer satisfaction research to modern customer feedback management is a big change for most firms. To... View Article
During last week’s webinar with Forrester analyst Kerry Bodine, we discussed the importance of what she calls the “customer cascade,” which goes like this: Companies need to develop deep customer insight in order to design and deliver great customer experiences and ultimately reap the financial rewards that follow. Insight, action, result. It’s a true and beautiful pattern, and it’s been pretty well documented in recent years.
A few weeks ago, a friend who leads the customer experience (CX) team at a large B2B company described a common challenge in her voice of the customer (VoC) program. Her team had gathered and analyzed lots of customer feedback regarding interactions with support representatives in the contact center, and the results were clear. Customers thought issue resolution time was too long, and that perception was killing overall loyalty. The CX leader immediately took the findings to the head of support to make the case for change. She had already built significant momentum and accountability around CX, so the support leader was receptive. He quickly understood the problem and wanted to fix it. Then he brought the conversation to a halt with a simple question: How long should resolution time be?
We at Allegiance recently hosted the second annual VoCFusion conference, which brought together more than 300 voice of customer (VoC) and customer experience (CX) practitioners – roughly half of which were Allegiance clients – as well as thought leaders like Nate Silver, Bruce Temkin, and Esteban Kolsky, and veteran vendors from firms like Ernst & Young, Ipsos Loyalty, and Waypoint Group. During the event, Allegiance CEO Carine Clark asked attendees to gauge the current and future states of their programs in a short survey (…surprise, surprise…). The responses show that most practitioners have achieved moderate results already but see their best days ahead as their programs increase in scope and scale. Here are some specific findings along with my interpretations...
Allegiance has been tracking banking customer experience (CX) since 2007 as part of our Pulse of America benchmarking service. The resulting dataset tells us all kinds of interesting and useful things about the state of the industry. Now I thought I'd share some tidbits publicly. Look out for a series of related posts over the coming weeks. To begin, let's consider the state of banking CX at a high level. As part of the Pulse of America methodology, we segment customers into three groups – Engaged, Swing, and Disengaged – based on their responses to a series of engagement-related survey questions. These segments are conceptually similar to the three Net Promoter segments (Promoter, Passive, and Detractor), where Engaged customers are more valuable than Swing customers who are more valuable than Disengaged customers.
The customer experience business discipline has no inherent connection to wow moments or cool technology. It’s about defining the right experiences for your company – given your customers’ needs and company’s strategy – and consistently delivering over time. As we encounter the standout stories, we should focus on why they actually make sense for the companies behind them and the customers in front of them.
Most companies still haven’t developed a mature enough understanding of CX or mature enough CX practices to keep the discipline alive when today’s hype dies down. But we can still do a number of things to help secure the future for the sake of our customers, our companies, and our careers. Here are three approaches that VoC practitioners in particular need to pursue to make their programs stick.