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CX, ROI and Reality: The Numbers Are Real, and So Are the People

ResponseTek

In our last article, “ How to Calculate the ROI of CX for Your Business ,” we discussed the gains brands stood to make industry by industry with good customer experience. The estimations that experts like Forrester and Temkin put forth seem larger than life once calculated, but they are very legitimate. Case in point, United Airlines suffered a one-day billion-dollar loss following its widely publicised passenger dragging incident.

Benchmarking Your CX Programme Based on Your Business Size

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A recent Gartner report, “Customer Experience Benchmarks: What Kind of Organisation Are You?” ” looked at the various CX projects undertaken by 298 organisations worldwide, and researched how these projects were measured and what made them successful.

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3 Revenue Relationship Models in CX and What They Mean for Your Customer Experience Strategy

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Nailing down a concrete blueprint for your CX strategy is no easy feat.

ResponseTek CEO Syed Hasan moderates Vancouver Entrepreneur Forum’s Panel on Customer Experience

ResponseTek

It was a night of energetic discussion on the merits and importance of customer experience in Vancouver on Tuesday night. Hosted by the Vancouver Entrepreneur Forum and moderated by Syed Hasan, CEO of Responsetek, the panel consisted of local business leaders and CX practitioners: James Thomas – CMO, Allocadia. Matt Dion – CEO, Mintent.com. Shevy Levy – CEO, Lambda Learning Solutions Maura Rodgers – Serial Entrepreneur.

Forbes Insights: Data Elevates the Customer Experience

New ways of discovering and applying customer insights

How to Reduce Churn: Frontline Transformation

ResponseTek

Last week, we opened the discussion on the most effective ways to address and reduce churn. In our last post we talked about using real-time insight from customer feedback as a key pillar.

Customer Experience Best Practices Now and Into the Future

ResponseTek

This month we’ve continued to focus on mobile and general industry best practices. To continue this discussion, here are some great articles for our Monthly Must-Reads. Here’s what The Seattle Times, CustomerThink, and Temkin have to say about current customer experience best practices and trends to watch out for in the future: 1. Improve Your Work Relationships by Stealing a Page from Customer Service.

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5 Customer Service Lessons That Can Prevent Epic CX Failures (Part 1)

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While no two businesses are alike, there are several basic concepts about customer service that apply to practically every organisation, regardless of the industry or company size. When these principles break down, they become like fractured links in a chain, causing CX failures that slowly grow into catastrophic situations—something we’ve seen a lot of recently with several high profile airline debacles.

Chalk Marketing Up To Experience. Customer Experience, That Is

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We all know it’s hard and expensive to get new customers. So why is it that once they’ve got them, some companies pay so little attention to them? Digital transformation has empowered consumers. They now have more choices, higher demands and better ability to switch vendors. Today ’s empowered customers no longer purchase products; they buy experiences. They engage with brands that deliver what they need, when they need it, regardless of the delivery mechanism or channel.

5 Tips for Hiring a Great Customer Support Team

Customer support is the most important job in your company, so it pays to hire right

How to Reduce Churn: Closed Loop Feedback

ResponseTek

To conclude our series of posts on how to reduce churn, we round out our last post on the third pillar: Closed Loop Feedback. We’ve already discussed the first two pillars – real-time insights and frontline transformation, if you missed those posts, check those out here and here !

Why Awards Matter for Your CX Programme

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This month we are announcing the winners of our annual C.A.R.E Awards, which recognise leading brands who have pushed their CX programmes towards exceptional gains over the past year. In light of the C.A.R.E. Awards, we wanted to highlight the importance of benchmarking and accolades for CX initiatives. Aside from giving brands the obvious bragging rights, awards offer several other crucial benefits, including the following: They show where your customer experience strengths lie.

How to Calculate the ROI of CX for Your Business

ResponseTek

Getting Buy-In with Generic Stats Doesn’t Work.

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Mobile Industry Trends in Insurance, Banking and Telecommunications

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New mobile strategies within insurance, banking and telco are picking up speed, and while these verticals are at different maturity stages, all three stand to make huge returns from their investments. Below is a list of techniques and technologies that top brands are using to enhance their mobile strategies in a rapidly changing consumer landscape. 1) Insurance Focuses on Concierge-Style Apps, Push Alerts and Preventative Knowledge.

The Ten Commandments of Customer Service

This cheat sheet covers ten fundamentals of customer service to help your business excel.

How to Reduce Churn: Real-Time Insight

ResponseTek

The most effective way to address and reduce churn is to focus and improve customer experience. To do this, there are three core pillars that comprise a winning customer experience strategy: Real-Time insight. Frontline transformation. Closed loop feedback. We will be looking closely at each of these three pillars in order to better explain how you can leverage these tools to reduce churn and improve your overall customer experience. Part 1 will focus on real-time insight. Real-Time Insight.

4 Critical Customer Experience Predictions for 2017

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CX Predictions for 2017 are exciting and herald in a year of mobile dominance, employee engagement, predictive technology and the even bigger growth of Big Data. A must-read list for any CX professional, these 4 topics can help you lay the foundation for this year’s strategies: 1) Mobile Becomes a Monolith. Remember the days when phones were used for just calling and talking to people? Well, in our current era, they are now used more for data than calling.

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How to Increase CSAT with Micro-Training

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Agent knowledge is often identified as a key driver of overall CSAT. What does this mean for your organization?

Is There an ROI to Customer Experience? 

ResponseTek

Yes, Read the News, This Is No Longer a Debate. A recent horrific customer experience incident with a major US airline resulted in a stock drop by several points – a oneday loss of over a billion dollars for the company.

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How to Build Great Customer Journeys

Make Each Touchpoint a Meaningful Experience

What’s the Deal with Millennials? We’re Not as Different as You Think

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The way current research talks about millennials makes them sound like foreign lifeforms from another planet. I’ll admit, when writing about millennials, I am prone to making our demographic sound like a strange wild animal that I don’t understand—despite the fact that I am one!

Technology Is Altering How Your Consumers’ Complete Surveys

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If their behavior is evolving, shouldn’t your surveys evolve as well? Did you know? For many organizations, completion of email surveys on mobile devices has significantly increased. In some cases, to over 65%. The migration is happening. We all saw it coming. We are all consumers.

How Has the Retail Landscape Changed in the Last Decade?

ResponseTek

You don’t need me to tell you that customers shop differently now compared to the early 2000s. At ResponseTek, we have seen changes in customer behavior, more than ever before, customers research and deliberate their product choices.

Awards and Benchmarking for CX Success

ResponseTek

This month we announced the winners of our annual C.A.R.E. Awards, and in celebration of this, we are focusing on how awards and benchmarking can help you achieve CX success. Here are some great reads by CustomerThink, Temkin and Forbes to get you started: 1. Obsess with Customer Experience (CX) Benchmarks for the Right Reasons. In this fantastic CustomerThink article, readers can discover some useful dos and don’ts of benchmarking.

5 Things You Can Do to Make Your Customer Experience Stickier

Tactics for Boosting Engagement and Brand Affinity.

Big Brands Take on Mobile as Its Global Reach Expands

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“There will be nearly 3.5 billion individual smartphone users among more than 5 billion individual mobile subscribers by 2019. Mobile will clearly be the battleground where you must win, serve, and retain your customers globally,” [1] forecasts Forrester in their report “The Global Mobile Revolutions Is just Beginning.”

Customer Experience: Hearing is not listening…

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When the first stirrings of market trade happened centuries ago it was all very simple. There was a need and there was a supply. There was a man or woman who had what you wanted and you went to them to get it. If they didn’t have it, and they saw an opportunity to make more money, they often attempted to provide it. A fair bit of price haggling and bartering went on but ultimately it was a transaction between two people.

Employees Are the Key to Understanding a Broken Business

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Employee experience is at the heart of any strong customer experience. It would be difficult to delight customers if the people deploying the service didn’t have the right tools or resources to do their job effectively. In a previous article , I discussed how sampled and frequent employee feedback can allow for more iteration and ultimately better customer journeys through business process improvements.

Millennials: Why You Need to Cater to Their Mobile Needs

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Millennials (generally categorised as individuals born between 1982-2000) are poised to become the largest generation ever. This demographic recently surpassed boomers as the dominant age group in the U.S., with approximately 83.1 million people, according to a 2015 United States Census Bureau report[1]. Additionally, by 2020, they, along with their predecessors, Generation X, are expected to control more than half of all investable assets, or about $30 trillion US[2], according to PwC.

How Does Customer Experience Impact Angry Customers?

Let's look at how the customer experience of an angry customer informs strategy, and how companies can transform frustrated customers into delighted ones.

Why Mobile Is Mandatory for Success in Our Modern Era

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From texting and working to shopping and browsing, almost everyone accomplishes an uncanny number of tasks with their mobile smart phones. In fact, for the first time in history, phones are now used more for data than calling[1 / 2]. It’s no wonder then, that researchers and forecasters are encouraging businesses from all industries to implement ‘mobile-first’ strategies.

Opportunities and Threats to the Insurance Industry in the Digital Age

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A recent study of insurance companies by McKinsey & Company [1] found that while digital technology may make some companies market leaders, it, for the most part, depletes the earnings and overall value of the industry in general — consumers not companies are usually the winners. The traditional insurance business model has proven to be resilient but is feeling the “Digital Effect”.

The Secret to Great Customer Experience: Engaged Employees

ResponseTek

‘Employee feedback’ in and of itself is not a foreign concept. We understand this process to be largely driven by Human Resource/Talent and Culture teams that look to understand employee happiness levels. This is the great distinction between historical feedback programs and CX-centric feedback programs. True Voice of the Customer (VoE) initiatives must ask employees about what processes enable them to provide great customer experiences and which hinder them.

Front Line Employees: The Forgotten Source of CX Intel

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Conversations around ‘customer experience management’ often center around the customer. Does this interaction meet or exceed customer expectations? Would this innovation or process lead to consumer satisfaction and loyalty? But where does the customer journey truly begin if not with an employee?

5 Customer Satisfaction Templates You Can Use Right Away

Begin or improve your customer satisfaction program with these 5 ready to use templates.

The Growth of Mobile in CX

ResponseTek

To continue our discussion on mobile and CX this month, we’ve compiled a few interesting reads below that include the latest data in mobile usage, an article on the rise of mobile, and how mobile messaging is expected to change this year. Here are our top picks from TechCrunch, Temkin, and Gartner: U.S. Consumers Now Spend 5 Hours Per Day on Mobile Devices. TechCrunch shares some interesting data in this post about the increased growth of the time spent using mobile apps by users.

How Technology Plays a Part in Retail CX

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When you think of ‘retail’ chances are that you think of a physical shopping mall with bustling shoppers and racks of goods on sale. You probably didn’t think of Amazon.com. Because although we are seeing some retailers accepting the technology revolution, they are still miles away from seeing true technology adoption – technology is not yet ‘mainstream’ within retail. In a previous blog post , I wrote about how consumers are using technology to enable better purchasing decisions.

10 Survey Best Practices and Tips to Increase Response Rates (Part 2)

ResponseTek

Continuing with our post from Tuesday, we continue to breakdown the top 10 best practices for your feedback surveys. Part 2 below lists our best practices and tips 6 through 10: 6. Act on Feedback. Make sure that if you are collecting feedback, you act on it. The best brands take survey feedback and immediately route it to the right teams to ensure follow-through takes place.

Why are Comments so Important?

ResponseTek

As an organization looking to obtain customer feedback, you typically know the type of information you’re looking to receive from your customers. You construct questions that are meant to illicit a certain anticipated response that can fit in either yes or no categories or fit on a predetermined scale. The ‘Comment’ box, if you choose to include one, is a great place to collect unstructured feedback that can sometimes be surprising and include important data, making it highly valuable.

Customer Experience Strategy: How to Measure the Immeasurable

Take a second to reflect on the brands you love. How do you go about creating an awesome customer experience strategy that works for your own customers?