CX is about future-proofing your business by ensuring that your commercial model is always looped into your customers' needs, perceptions, values, beliefs, motivators, and detractors.
There is a lot already known about the positive impact CX can have on a business, including increasing revenue and customer retention, but what happens when you neglect the framework as a whole or implement a poor quality solution?
https://www.cmo.com.au/blog/experience-design/2018/09/25/5-common-mistakes-to-avoid-in-scalable-customer-experience/
A customer’s experience is very much a qualitative and emotion based experience. So why are companies so obsessed with turning this into a quantitative measure? Whether it is Net Promoter Score, Customer Satisfaction or Customer Effort Score, companies want to track a number. Tracking a score like NPS can be used to highlight the need to improve but the number alone won’t provide the insight you need to actually make those improvements.
Many businesses solely rely on this scoring system as they simply do not have time to do a more thorough analysis of the feedback they are getting. That is where text analytics software enters and creates the potential to gather insights from thousands of open text customer comments.
http://customerthink.com/how-to-use-text-analytics-to-improve-customer-experience/
We all know that one crucial factor for the success of a SaaS business is its cumulative revenue growth. While very often SaaS companies focus on revenue growth by means of customer acquisition only, retention and expansion revenue is also important for a sustained growth. In this context, SaaS businesses must consistently take measures to improve customer retention. The most sought-after and renowned metric to do so is the Net Promoter Score. This article discusses how to use NPS to grow SaaS businesses.
http://customerthink.com/using-nps-to-grow-a-saas-business/
Customer feedback is crucial to running a successful business. From improving your customer experience to perfecting your services or products, customer feedback will tell you most things you need to know to grow your business.
However, gathering quality customer feedback isn't always easy. Business News Daily talked to business owners about how they gather feedback. Here are five tips.
https://www.businessnewsdaily.com/11074-easy-ways-to-gather-customer-feedback.html/
Are you responsible for measuring the progress your company is making in improving customer experience? If the answer is yes, I’m sure that at some point you needed to decide which metric (or metrics) to use for that job. Did you choose the ubiquitous Net Promoter Score (NPS)? Or perhaps CSAT, the traditional customer satisfaction metric? And don’t overlook the more recent entry, the Customer Effort Score (CES).
https://www.cmswire.com/customer-experience/does-it-matter-which-customer-experience-metric-you-choose/
Why are bad reviews so destructive? Despite the fact that they’re less trustworthy than most consumers think, consumers continue to base their purchase decisions on them. Pew Research Center found that 82 percent of American adults “sometimes” or “always” read online reviews before making new purchases, 65 percent of whom believe they’re generally accurate. Yet a Journal of Consumer Research study found almost no correlation between professional assessments (in this case, Consumer Reports ratings) and online reviews.
Bad reviews are bad news for brands, large or small. But the good news is that companies can prevent them with one simple action they should be taking, anyway: listening to their customers.
https://www.forbes.com/sites/serenitygibbons/2018/09/20/why-businesses-need-to-see-customer-feedback-as-make-or-break/
Honesty, openness, and transparency are three words that are shaping customer behavior in the 21st century. With the appearance and widespread use of the internet, there seem to be no secrets anymore. Online customer product reviews and social media posts have made it so that customers can air everything from accolades to complaints to everything in between.
Companies that do a good job of responding to online customer feedback reap certain rewards. However, companies that don’t respond to online customer feedback or who do so poorly are at risk for perpetuating a negative perception of their business. People who feel that their opinions do not matter or have no idea if their feedback is received will be discouraged from sharing feedback again in the future. Worse, they may walk away from your business altogether.
Managing customer feedback openly is not just good customer service, it is good marketing as well. Here’s why:
http://www.touchwork.com/why-transparency-with-customer-feedback-is-good-marketing/
The Net Promoter Score (NPS) measures how customers feel about a company, brand, product or service. The initial research in 2003 that led to the NPS metric asked customers a series of questions designed to elicit their feelings about the company. The researchers, Fred Reichheld of Bain & Company in collaboration with the company Satmetri, wanted to find a question that would correlate with real-world customer behaviors. For instance, for a company to grow, it needs customers who recommend the company to others; customers who become repeat buyers; customers who don’t constantly shop around for the best price. The researchers tested many questions with customers, trying to find the one question that would identify those most desirable and engaged customers.
https://www.business2community.com/customer-experience/how-important-is-it-to-measure-your-net-promoter-score-nps-02115530/
The average customer is online pretty much all the time, creating an abundance of data for today's businesses. If marketers aren’t using that data to offer more efficient experiences, it might be time to ask what it’s for in the first place. Here are a few ways brands have stopped sitting on their data and actually used it to solve some of the industry’s most annoying problems.
https://www.clickz.com/3-ways-using-data-solve-customer-problems/
There are many places you can go wrong in constructing and delivering a customer satisfaction survey that can keep you from getting an accurate picture of your customer experience. And most companies do go wrong in their survey design and delivery–often in multiple ways. (Alarming but true: If you send out a defective survey, it might be worse than not surveying your customers in the first place, because of the risk that the data you get back will be invalid but nonetheless used to guide company strategy.)
https://www.forbes.com/sites/micahsolomon/2018/05/25/customer-experience-surveys-13-tested-scientific-best-practices-i-bet-youre-doing-5-or-more-wrong/
