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CustomerSatisfaction results in a higher share price. Whilst the above example is impressive and coming from HBR, this next example is bound to attract senior leadership’s attention as it links stock prices to customersatisfaction. Keeping Customers results in a high increase in value. So, there you have it.
With nearly half of every decision decided by habits, the real question is how much longer can you afford to ignore the power of habits in your marketing efforts?
Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s first organizations devoted to customer experience. Colin is an international author of four best-selling books and an engaging keynote speaker.
The ratio is off between internal and Customer measures. There must be a good ratio of emphasis between internal and transactional goals, like sales and productivity, and the emotional goals, like CustomerSatisfaction and Net Promoter scores. Customers were not involved in the selection of the KPIs.
However, by knowing its effects and the basic rule that the gains should outweigh the losses by a ratio of 3:1, changes in fees or changes to the value proposition could be successfully managed. So yes, that…and make sure you end with bagpipes–really, really loud bagpipes.
Colin Shaw is the founder and CEO of Beyond Philosophy , one of the world’s first organizations devoted to customer experience. Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.
View our books on Customer Experience here. To read more from Colin on LinkedIn, connect with him by clicking here. If you would like to follow Beyond Philosophy click here. Follow Colin Shaw on Twitter @ColinShaw_CX.
Follow Colin Shaw on Twitter @ColinShaw_CX The post eBay & PayPal’s Split is Good for Customers appeared first on Beyond Philosophy | Customer Experience Consultancy | CEM Consultants.
To read more from Colin on LinkedIn, connect with him by clicking the follow button above or below. If you would like to follow Beyond Philosophy click here. Follow Colin Shaw on Twitter @ColinShaw_CX.
Let’s make sure we work together to avoid them for the benefit of the Customer. Customers deserve better. For more Customer Experience concepts, register for our Advanced Customer Experience Management (CEM) Certification Course beginning on April 20th. Please click here to learn more.
For more Customer Experience concepts, register for our Advanced Customer Experience Management (CEM) Certification Course beginning on April 20th. I would love to read below in the comments of the irrational things that you do in your day-to-day life. Please click here to learn more.
Our consultants have helped customers to achieve successes such as: Recommendation rate driven to 94 percent, 30+ percent increase in NPS®, 90 percent renewal rate, and 96 percent low or very low Customer Effort Score. and Harvard Business Publishing, were honored at the conferences 2014. Qualtrics. and ultimately—to be right.
Contentverve.com. 25 March 2013. 4 September 2014. < < [link] > The post Subconscious Clues That Call People to Action appeared first on Beyond Philosophy.
Economists have long taught us that choice confers on us freedom, personal responsibility, self-determination and autonomy. As the ranges and variety of options in snacking, soft drink and beer categories expands, actual sales volume and customersatisfaction have been seen to contract significantly. In contrast to Tinder’s 3.5
United’s score on the American CustomerSatisfaction Index is a full 15 points below the U.S. Now, we come to retailers which had customer loyalty programs, usually of long-standing, and elected to discontinue them. And, none of this has helped the airline industry’s image and reputation.
The topics discussed are meant to shed light on how Ecrion can help your business overcome any problems it might have with Customer Communications Management (CCM), Customer Engagement Management (CEM), or Customer Experience (CX). . Ecrion is an organization built around our expertise in customer communications.
The topics discussed are meant to shed light on how Ecrion can help your business overcome any problems it might have with Customer Communications Management (CCM), Customer Engagement Management (CEM), or Customer Experience (CX). . Ecrion is an organization built around our expertise in customer communications.
More and more of your Customers believe access to self-service options is essential to their relationship with your business. Their Customer Service Success Blog reported some interesting stats to consider about Customer’s self-service options, including: By 2017, Only 1/3 of Customer service interactions will require human assistance.
In the past decade, we’ve seen the number of companies with an individual in the role of Chief Customer Officer (CCO) – nicely defined by Wikipedia as “the executive responsible for the total relationship with an organization’s customers” – grow from under 100 to thousands today. Michael Lowenstein, Ph.D.,
During a recent series of stakeholder behavior instructional workshops conducted for our clients, one of the strongest areas of interest among workshop participants was how to gain senior management support and sponsorship for various customer-related and employee-related initiatives. Michael Lowenstein, Ph.D.,
During a recent series of stakeholder behavior instructional workshops conducted for our clients, one of the strongest areas of interest among workshop participants was how to gain senior management support and sponsorship for various customer-related and employee-related initiatives. Michael Lowenstein, Ph.D.,
In building relationships with customers, and value for them, my long-time observation is that most organizations tend to progress through several stages of performance as they are becoming truly customer-centric: a) customer awareness, b) customer sensitivity, c) customer focus, and d) customer obsession.
There are some signs that your Customer relationship is all about you, or one-sided, and they are easier to spot than you think. Many of the things that make personal relationships fail make your relationship with Customers one-sided. Sometimes we have a relationship we think is good, but it really isn’t.
Target has issued press releases, and been on television, speaking to the fact that they are bringing in new senior IT execs to oversee customer data management. On the company web site, Target has begun posting information about initiatives and programs designed to offer customers greater purchase security. Michael Lowenstein, Ph.D.,
Michael Lowenstein, Ph.D., CMC, is Thought Leadership Principal for Beyond Philosophy. This blog represents two true stories of what happens, or can happen, to an organization when its key relied-upon key, single number (CSAT, CES, NPS, etc.) performance metrics flatline and, for all intents and purposes, have little or no granular actionability.
A couple of years ago, our local newspaper, The Philadelphia Inquirer, ran a disturbing story about how a mortgage loan company in Phoenix had sent spam advertising messages which appeared on the screens of thousands of wireless phone customers. Not only were the messages not requested, but these customers had to pay to retrieve them.
Michael Lowenstein, Ph.D., CMC, is Thought Leadership Principal for Beyond Philosophy. Defining the Objective(s) and Mechanics of Your Content Marketing Strategy. Content marketing continues to be on the upswing as a method of building connections and relationships with target audiences.
More than just a buzzword, ‘being human’, especially in brand-building and leveraging customer relationships, has become a buzz-phrase or buzz-concept. Michael Lowenstein, Ph.D., CMC, is Thought Leadership Principal for Beyond Philosophy.
There is a certain romantic notion that we sometimes just know things in our gut. We equate this to wisdom or expertise. In truth, when your gut instinct turns out to be right, it is a result of the complicated system of decision-making your brain employs.
Keeping Customers is cheaper than getting new ones. Customer loyalty and retention are goals for most organizations as a result. So now what do we do to build Customer Loyalty? In the past, some companies’ modus operandi to build their loyalty involved a loyalty card with additional benefits.
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