Maybe there is hope for ROI and Customer Experience
In a recent Media/Temkin Group study of 100 customer experience professionals, 47% stated that their organizations were either “ineffective” or “very ineffective” at measuring the impact of customer experience. Whether it is before or during such an endeavor, customer experience teams fight a continual uphill battle against CFOs, CxOs and companies as a whole, in proving the ROI of customer experience.
This month’s issue of Customer Strategist looks to change some of this perspective, by exploring the ROI of customer experience, and how improvements in customer experience effect customer value and business profitability.
The focus of the issue is to look at customer experience efforts from an enterprise-level view and show how a number of forward thinking companies are molding their business to align with customers. It seeks to show that there are tools and processes to make ROI connections, it is simply a matter of leadership making the decision to try them.
In Top Considerations for Mastering Digital Marketing ROI successful measurement strategies are identified in contact centers and digital channels. While, the reasons why consumer banking profits from flexible contact centers are explicated in Break Down the Contact Center Wall.
For these articles and more read: Finding the ROI of Customer Experience
EMC isn’t pulling any punches when it comes to NPS
Want customers that are more akin to raving fans at a rock concert? Well, one company isn’t far off. EMC a computer storage multinational goes all the way when it comes to NPS; not just closing the loop with their customers but actively encouraging their customers to be part of their company.
Steaming ahead of others in their industry, EMC shifted a number of years ago from customer satisfaction scores to the Net Promoter System. In the process they started the ball rolling such that NPS is now used by almost all the major players in their industry.
However EMC is still one step ahead and continues to remain a leading innovator in its industry. EMC doesn’t just use NPS to address customer concerns but they also bring customers into their marketing strategy.
At EMC events they allow customers to explain the impact that their products had on their business. Customers speak of how individual departments within their organization receive personal attention from EMC, while others speak about where competitors fall short and EMC was the only fit for them.
EMC’s customers are utilized to champion their products and services, and yet creating such products and services is only possible because of their intimate relationship with their customers. Such closeness and complete understanding of their customers needs and wants is the result of EMC’s commitment to a company wide integrated NPS.
Want to know more about why EMC is so loved, then read the full article here.
NPS in brief
American health insurance provider Gravie has posted a score of 78, in comparison to the industry average which hovers anywhere from 0 to 20.
Educational technology company 2U which has a blended survey group of both students and faculty, received a score of 71.5 last Q3.
The financial wing of Australian supermarket giant Coles, has reported a NPS score in the 60s.
While the Ambassadors Group, a leading provider of educational travel, has recorded a post-summer score of 74.
While within the industry of U.S. security transfer agents, Wells Fargo & Company are steaming ahead at 65, in comparison to the industry average of 50.