Customer Experience Perspectives (13th September, 2016)

Customer Experience (CX)

Customer Experience Perspectives (13th September, 2016)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like you.

Let us know your suggestions and the articles we may have missed.

The 30 Things Customers Really Value – HBR.Org

This article is an interesting extension of Maslow’s Hierarchy of Needs to the sphere of customer preferences. Based on research about customer preferences, the article identifies 39 elements of value that drive customer satisfaction. The researchers further found that the companies with high scores on 8 or more of these elements have average 3 times more NPS than  those with high scores on only 1 element.

Read the article to assess how customers perceive you on these elements of value.

The US Customer Experience Index For 2016, Part 3: Emotion Holds The Key To CX-Fueled Loyalty –

The emotion that drives customer loyalty is not a revelation. Every contact center leader intuitively knows this. What is surprising is  not the simple ‘happy’ or ‘angry’ feelings that affect customer loyalty. This study by Forrester has found that the customers who feel valued are loyal while those who are annoyed, disappointed, or frustrated are the ones who are on the verge of switching to competitors.

This is the 3rd part of a series of blogs on about findings of the US Customer Experience Index for 2016.

Why Companies Can’t Turn Customer Insights into Growth – BCG Perspectives

Most companies have one form or the other of customer insights team. However, these teams usually don’t make a meaningful impact on the business. Why?

The reason, as this powerful article explains, is the lack of budgetary controls with the customer insights team as well as of strategic partnerships with C-Level management. Instead, the customer insights teams are busy working on customer research mandates issued by managers.

The article also argues that ‘faced with rapidly changing technologies and consumer behaviors, companies know that it’s crucial to uncover new sources of customer information that can spur elusive growth.’

A must read!

Why You Need Customer Focus –

In this article, the author explains the value of customer focus and 3 steps to achieve the radical transformation to achieve customer centricity. Businesses now need to build teams around customers, with their individual objectives and missions dictated by the two metrics that now matter: lifetime value and churn rate.

A good reminder of the importance of the focus on customers to achieve business growth.

Pay Attention to Customer Retention –

Whether your business goal for retention is continued purchases or licensing revenue, customer advocacy or up selling, there are three elements that  consistently  part of any customer loyalty and retention strategy

1.    Use customer knowledge

2.    Build an experience brand

3.    Listen

Other Popular Customer Experience Blog Links from the Month of August:
Here are some other articles you may find worth reading –        

4 Tips for Delivering a Richer Customer Experience

7 Ways To Measure Customer Satisfaction

What’s So Sensational About Your Customer Experience?

We hope you enjoyed this edition of Customer Experience Perspectives!

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