Showing posts with label Forrester. Show all posts
Showing posts with label Forrester. Show all posts

Tuesday, May 27, 2014

Making Promises, Keeping Promises: Building Brand and Loyalty through Customer Experience

Photo by paul bica

Would you be willing to pay more for a better customer experience?

According to Kerry Bodine, former VP and Principal Analyst, Customer Experience Research Practice for Forrester, most people would.

During last month's Total Customer Experience Leaders Summit, Kerry indicated that 81% of consumers are willing to pay more for a better customer experience. In addition, she stated that:
  • 70% of consumers stopped buying goods or services from a company after experiencing poor customer service
  • 64% made future purchases from a company's competitors after experiencing poor customer service
These sobering statistics show that customers' perceptions have a profound impact on every organization's brand equity, customer loyalty and revenue. Here's how you can help successfully define, implement and manage your organization's customer experience to deliver on its promises:
  • Come to terms with what your brand really stands for
  • Determine how your brand is (or isn't) reflected in your customer experience
  • Help employees discover the role they play
  • Align your marketing with your actual customer experience






Peggy L. Bieniek, ABC is an Accredited Business Communicator specializing in corporate communication best practices. Connect with Peggy on LinkedIn, Twitter, Google+, and on her website at www.starrybluebrilliance.com.
 

Wednesday, July 10, 2013

Stand Out from the Crowd: Create Innovative Customer Experiences

How can your business create an innovative customer experience (CX) that helps your stand out? It’s harder than one might think.

According to a recent Forester report, “Customer Experience Innovation Demystified,” everyone talks about innovation, but no one knows quite what it is or how to get it. Today, the biggest driver for CX innovation is differentiation that will distinguish a company in the marketplace. Thirteen percent of respondents are shooting for a better CX than any company in any industry. The report states “innovation that drives differentiation and long-term value is the key to getting there.

Additionally, more and more companies want innovation. Customers have higher expectations than ever, upstarts are using technology to compete, and competitive advantages do not last long. Forrester points to customers being wow’d by new apps like Google Now, to Warby Parker’s Net-based competition with established retailers like LensCrafters, and to USAA’s short-lived advantage with its mobile check deposit app.


However, the strategy and planning do not match the ambition. Three-quarters of respondents focus on making incremental improvements, not radical ones. And, less than a third said they connect CX improvements with results that have business consequences. Not to mention, the majority of respondents said their companies plan CX innovation by watching their competitors or companies in other industries, 62 percent expect technological improvements will help them innovate, and only 53 percent develop ways to understand customer needs.


Ultimately, Forrester says that CX innovation differs from normal innovation processes because it goes beyond traditional methods. CX improvement enhances current customer needs, while innovation solves unmet ones. Companies need to reframe their business opportunities as meeting customers’ unmet needs. To do so, of course, involves looking at the company’s CX from the customer’s needs.


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Wednesday, July 3, 2013

The 4 Phases of Customer Maturity

These days the list of things that can go wrong in creating and managing the processes that comprise the execution of the customer experience is endless. Despite the complexities in managing all aspects of the customer experience, companies' intentions are in the right place.

In fact, a Forrester study has revealed that companies are ambitious when it comes to customer experience (CX). Forty-seven percent of executives use CX as a competitive differentiator in their industry. But their efforts are weak as just 53 percent measure CX quality consistently, leaving half without a way to tell if they're succeeding. Additionally, less than a third track everything the firm is doing to improve experience. Only 15 percent follow a design process – meaning that 85 percent of firms have no systematic approach to determine what a differentiated CX looks like.

Forrester found that CX leaders achieve customer maturity when they follow a path: Repair, Elevate, Optimize, and Differentiate. Recently, Principle Analyst Megan Burns shared the four requirements necessary to advance each phase with 1to1 Media.

1. Repair
Before they set out to create experiences that satisfy customers, firms should first fix the experiences that pain customers. By doing that, CX leaders begin to change the way their businesses operate. In these initial steps, they must identify problematic customer experiences, prioritize the fixes, coordinate implementation, and measure results.

2. Elevate
In this phase, Burns says to share customer insights routinely, measure thoughtfully, and use the metrics to reward. Most importantly, take best practices and made them standard.

3. Optimize
To take CX from OK to good, companies need to develop sophisticated CX toolkits. That's why, in phase 3, customer experience leaders should: model the relationship between CX and business results, build strong experience design practices, and sharpen employees' CX skills.

4. Differentiate
Burns said that organizations that succeed at differentiating their CX do so because they're unwilling to think differently. This requires companies to deploy advanced research techniques to mine for new types of insights. It also requires the development of a business architecture that's based on customer journeys instead of internal processes.


Amanda Ciccatelli, Social Media Strategist at IIR USA in New York City, has a background in digital and print journalism, covering a variety of topics in business strategy, marketing, and technology. She previously worked at Technology Marketing Corporation as a Web Editor where she covered breaking news and feature stories in the tech industry.  She can be reached at aciccatelli@iirusa.com. Follow her at @AmandaCicc. 
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