Companies with the best-in-class Voice of the Customer (VoC) programs achieve 10 times higher YOY increase in revenue compared to other firms. Furthermore, they retain 55% more customers, experience an average drop of 23% in YOY customer service expenses, and boast employee engagement rates that are 292% higher.
So, if your Voice of Customer isn’t delivering noteworthy results, then it’s time to take a hard look at what’s going wrong.
Making your VOC program best-in-class isn’t simple, but there are certain things that can be detrimental to it. Things you should ideally avoid doing.
So, we decided to make a list of the 5 main things that can sabotage your Voice of Customer program.
https://customerthink.com/5-things-that-can-sabotage-your-voice-of-customer-program/
Apple CEO Tim Cook last year said in an interview with CNBC the company's stock price should be the result "of doing other things well." Specifically, he cited customer experience and making sure customers are treated well. It's great that the CEO of a company closing in on $1 trillion in valuation values the customer so greatly.
https://www.cmswire.com/customer-experience/voice-of-the-customer-8-tips-to-win-executive-buy-in/
Established in 2001 in the Netherlands, Translink operates as the connecting force behind the OV-chipkaart. One card used for accessing all sorts of public transportation, the OV-chipkaart is an easier and more secure way for people to travel. The OV-chipkaart also allows Dutch public transportation companies to make more efficient use of capacity, resources and staff.
https://mopinion.com/translink-provides-seamless-online-experience-with-customer-feedback/
Last week, I shared how early on in my career I managed a technical support and customer service center and service was considered a cost center and a necessary evil. How times have changed, and how far most companies have come in changing that perception!
Continuing in that vein, this week I will share our different approach to measuring customer service at that time, and how there are better means of gauging various aspects of service today. (Note: I’m limiting this to live interactions because my time running a service center only saw the beginnings of self-service.)
I’m going to organize this around points in the typical customer service process:
https://customerthink.com/youre-doing-it-wrong-what-to-measure-in-customer-service/
This is the final article of the 6-part series focusing on how CEOs adjust to their disruptive business environments and what they learned from their efforts that might be helpful to other CEOs. To answer these questions, we interviewed six CEOs/Chairman/Presidents from a variety of industries: Joe DePinto (CEO, 7-Eleven); Mike Fucci (Chairman, Deloitte); Tony Guzzi (CEO, EMCOR), Margaret Keane (President and CEO, Synchrony Financial), Bob Leduc (President, Pratt & Whitney), and Bob Weidner (President and CEO, MSCI). We also interviewed General Dennis Reimer, who led the Army through a major transformation during the period when the Army created the term “VUCA.” We asked each of the leaders to describe their business environment and discuss how they are leading their companies to thrive in the face of massive disruptions. We are grateful to these leaders for their thoughtfulness and candor. We found their stories fascinating and relevant and hope you have as well.
https://chiefexecutive.net/leading-by-learning-for-business-success/
Why integrating best practices for CX has less to do with the right technology than it does with the right organizational culture.
Customer experience is something we weren’t really talking about in healthcare 10 years ago. What’s changed? Why are we hearing so much about it now?
http://www.healthcareitnews.com/news/cx-healthcare-it%E2%80%99s-all-about-culture/
As the influence of social media continues to proliferate, so does the volume of online consumer insights available to companies.
The ability to successfully filter, capture and analyze actionable data is extremely lucrative for data-driven organizations. According to a 2017 McKinsey study, organizations that leverage consumer behaviorial insights outperform their competitors by 85 percent in terms of sales growth and by more than 25 percent in total profits.
https://www.cmswire.com/customer-experience/the-customer-voice-bringing-value-to-online-data/
"A lie can travel halfway around the world while the truth is putting on its shoes," as Mark Twain said, but he did not envisage social media: "halfway" is understating it. A lie – or at least a bad impression – can get fully around the world, in an instant.
That is the nightmare scenario for companies and organisations in the social media age.
http://www.afr.com/news/special-reports/rebuilding-corporate-trust/social-media-has-given-communities-a-voice-20180225-h0wm7s/
The essence of business never changes: engaging the customer, every day.
This is not just the source of revenue: the customer experience – and perspective – remains the "early warning system" to show if things are not working, says Karen Penrose, director at Bank of Queensland. "Trust is remade on every customer encounter," she says.
But these days, there are other stakeholders that business must engage: governments, regulators, employees, suppliers, investors, funders and the general public. "In the modern environment, questions get raised (about a business) by a whole host of interested, invested individuals," she says.
http://www.afr.com/news/special-reports/rebuilding-corporate-trust/customer-always-the-key-but-other-stakeholders-also-vital-20180225-h0wm3f/
Companies are often so focused on front-line touchpoints with customers that they ignore the impact an incorrect bill, a late order or claim can have on customer satisfaction. Here are some tips for making sure “backstage” employees are part of your CX program, too.
https://customerthink.com/putting-the-back-office-front-and-center-in-your-cx-program/
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