Salesforce finds what's behind high-performing customer experience
Customer experience is now firmly a part of the marketer's role, but Salesforce’s 2016 State of Marketing report shows a big difference between successful marketers and the rest.
Salesforce surveyed over 4,000 marketers, from both North America and Europe, and across a range of company sizes. They asked marketing professionals how satisfied they were with their marketing outcomes, and found 18 percent to be “extremely satisfied.”
What is interesting though is the common approaches used among these top teams. Over 50 percent were heavy tech adopters, compared with just 7 percent for “underperformers” Nearly three-quarters also stated they would increase their spending on technology in the coming years, while 83 percent of top performers were also using customer data to better target their advertising.
Across the entire field, 80 percent of marketers put email as the core of their marketing strategy. The use of SMS grew by 111 percent, and 75 percent of respondents stated that social media was producing a positive return on investment with Facebook the most effective channel followed by Twitter.
It would seem then that marketing departments are taking a multi-platform approach. However, top marketers were also 7.7 times more likely to lead cross-business customer experience initiatives than the rest of the pack.
And with customer satisfaction being this year’s most chosen success metric, over 2015’s revenue growth, it is clear that investment in digital marketing technologies is going to be an important part of the future of customer experience.
Read the full report.
Microsoft's HoloLens lifts customer experience
Ever had trouble visualizing what your new kitchen will look like? How the colors will look or the design? Lowe’s, the retail home improvement and appliance store, thinks that Microsoft’s HoloLens technology can help.
For a while, it seemed as though Microsoft’s technology was struggling to find real world traction, but Lowe’s is hoping the technology will help shoppers visualize and design better spaces, according to a Microsoft blog.
Currently in just the pilot phase, Lowe’s will use the HoloLens to demonstrate design options for kitchen cabinets, appliances, countertops, and backsplashes. As stated in the blog “home improvement is an incredibly visual undertaking. It can be difficult to conceptualize a full-scale remodel using just sample squares and paint swatches.”
Rather than just a complete virtual mockup of a customer’s kitchen, the mixed reality solution was important to Lowe’s. As it allows customers to remain with the physical kitchenette and view options and adjustments to that existing physical space.
For Lowe’s the benefit is in providing a brand new type of retail customer experience alongside making efficient use of store floor space. While the customer’s HoloLens design can also be viewed during the process by others on a tablet.
Right now the technology is restricted to the kitchen, but in the future, Lowe's and Microsoft think it will transform the showroom experience by designing way more than just the kitchen.
“In the same way that people often place tape or cardboard outlines of new furniture in their living rooms to properly assess size and scale relative to physical options — imagine a more high-quality, easily modifiable replacement to that task, powered by holograms. Imagine a view of your custom kitchen, within your existing kitchen space or reviewing options for a brand new dining room table and chairs without ever leaving home,” states Microsoft.
How a little technology saved thousands of hours!
With unemployment at 13% after the 2008 financial crisis, Michigan’s Department of Human Services experienced, in just 24 months, a 25% increase in the number of people seeking assistance. And with no additional funding to increase staffing levels, the department decided to turn to customer experience technology - with some very amazing results.
Customer experience technology such as Interactive Voice Response (IVR) was seen as an efficient and cost-effective strategy to free up more time for the department’s 4,000 caseworkers.
VR saved caseworkers countless hours of paperwork.
And what was the result? In 13 months, IVR handled 496,145 phone calls without involving a single department caseworker. Estimated at five minutes per call that added up to several thousand hours per month that were now free for caseworkers to do more complex work.
Caseworkers were found to be 40% more productive, as more than 188,300 application forms were collected via phone, saving people from entering an office to see a caseworker. The department's case backlog was eliminated in less than six months, and inbound calls dropped from 26,000 per month to 16,000.
Customer experience technology then is not just about creating happier customers but about saving time and resources, follow the link to read more on this story.
The continued correlation of ROI and NPS
Research done for the credit union industry shows that credit unions with loyal, happy customers are financially topping their industry.
The Member Loyalty Group, which specializes in customer feedback for the credit union industry and uses NPS as the base of its Voice of the Member programs, has done a lot of surveys over the last 8 years; 2.5 million to be exact!
And with all that data they have been able to uncover some interesting trends about the financial implications of having a voice of the customer program.
Since 2009, their clients have experienced a greater average Return on Assets (ROA) than the industry average. But when they went deeper and separated their own clients into groups, they found that top performing credit unions (loyalty leaders who scored in the top quartile) had an ROA of 0.96% compared to 0.65% for their bottom performers.
Although these findings are specific to the credit union industry, it is another piece of evidence that adds weight to the claim that customer feedback programs produce a positive ROI.
To read the original article click here.
NPS in brief
Liquid web, a provider of web-hosting and cloud services, has a very healthy score of 70.
UK bank Aldermore has a score of 22, which for banking is good.
Want more Net Promoter scores, head over to http://www.npsbenchmarks.com/