Handpicked Customer Experience Articles for Busy Customer Retention Leaders

Customer Experience:

Customer experience is the next competitive battleground, it’s where businesses are won or lost. Companies are starting to expect a $3 return on investment for every $1 invested in the customer experience. Interestingly, 2 out of 3 companies view customer experience delivered by contact centers as a competitive differentiator. According to Gregory Yankelovich, a CX influencer, “Customers are no longer buying products and services, they are buying experiences delivered via the products and services.”

These are some of the highly popular customer experience articles from the last quarter curated by VOZIQ’s internal team.

When the customer experience starts at home

To serve end customers better, begin with your employees. Charity, the saying goes, begins at home. So too does a superior customer experience.

Growing numbers of companies are coming to recognize the benefits of customer-centric strategies: higher revenues, lower costs, and stronger employee and customer loyalty. In the effort to transform customer journeys and refine direct interactions with clients, however, many companies overlook the need to engage the whole organization, including its support functions, in a customer-centric transformation.

Six ways listening improves the Customer Experience

It takes at least two people to have a conversation, and one of the keys to a successful conversation is listening. Being a good listener can create trust and confidence. It is a helpful skill in both personal and business relationships. Listening doesn’t have to just be between people. It can be between a brand and its customers, or its employees.

Rob Pace, CEO of HundredX, is adamant about creating a listening culture, and he shared six ways that listening can improve business performance.

  • Listening gets you Feedback and Data
  • Listening gets you Stories to Share
  • Listening grows Customer Retention
  • Listening will increase Customer Spending
  • Listening creates Brand Ambassadors
  • Listening Creates Employee Retention

17 stats that show why CX is so important

Customer experience (CX) has been a hot topic for a number of years now, with global brands like Airbnb and Apple setting the standard (and expectations) for what customer experience should look like. As a result, CX or ‘how customers perceive their interactions with your company’, as Forrester defines it – has become a primary focus for businesses.

Research from Salesforce tells us that 75% of people now expect a consistent experience wherever they engage with brands – be it through social media, mobile, or even in person. Immediacy is also in demand, with 64% of consumers expecting companies to interact with them without delay.

Customer Contact Centers Prioritize CX

All customer interactions matter, but ones that take place via corporate contact centers can be particularly important in determining whether a customer has a positive or negative experience with a brand. Contact centers put company representatives in contact with customers, providing the opportunity to address specific needs and ultimately strengthen relationships.

As businesses increasingly focus on the customer experience (CX) as a competitive advantage, many are rethinking the role these centers play, along with the technologies and teams needed to support more complex interactions.

We hope that you have enjoyed reading these articles. For busy customer retention leaders like yourself, our curators have compiled few more popular articles on various customer related topics from the last quarter.

 

Click the below image to download the complete list in PDF format.

Best handpicked resources recommended by VOZIQ

Customer Experience Perspectives (4th September 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

Customer Contact Centers Prioritize CX

All customer interactions matter, but ones that take place via call centers can be particularly important in determining whether a customer has a positive or negative experience with a brand. To navigate these complexities and deliver a seamless experience for customers, many businesses are looking to invest in technologies that help support customers across channels (particularly call centers) such as advanced analytics, VoC, and Omni channel routing solutions.

Make the Case that CX Transformation is both Important and Urgent

Customer experience (CX) is finally gaining the attention it deserves, with 84% of companies seeing CX as a higher priority than they did two years ago. But, there’s a disconnect when it comes to executing CX transformation, and the underlying issue is a lack of executive buy-in, which is having executives who have less awareness and understanding on CX.

Customer Journey Mapping to Improve Your Customer’s Experience

It’s true that customer journey mapping will improve your customer experience! A well thought out and designed journey map can help you and your management team gain insight into how your buyer moves through the sales process from visitor to lead to marketing qualified lead to sales qualified lead, and ultimately, to customer. It can help uncover points at which processes and programs can be improved as well as areas where you are excelling. Here are 4 significant steps in mapping your buyer’s journey. Give a read.

It’s all about the journey: Four customer experience lessons from airlines

A big challenge for the air travel industry is that, it has become a commodity product. The emergence of low cost flights, price comparison engines, tight cost margins, unpredictable fuel costs, and holiday comparison sites is forcing an industry that has traditionally innovated in customer experience to take another look at the customer journey.

Here are 4 lessons from the airline industry that we could all learn from!

  1. Customer experience matters more, because prices are easy to compare
  2. Customised experiences – you get what you pay for (mostly)
  3. Self-service rules (but makes front line employees more important)
  4. Proactive service beats reactive in a crisis.

Reducing Customer Effort Is Your Best Investment

The best marketing investment your company can make doesn’t have anything to do with marketing. It all comes down to three words: reducing customer effort! Instead of providing things like 24/7 call centers to make communicating with customers much easier, it’s unfortunate that many companies still force customers to wade through complicated phone trees with faulty answering systems to get help that might not even be what they are looking for.

Give this article a read for some insightful information on how reducing customer effort is a sure-fire way to keep your brand in business.

 

We hope you have enjoyed this edition of Customer Experience Perspectives!

Be sure to respond in the comments, tweet us at VOZIQ, or follow us on LinkedIn.

Customer Experience Perspectives (8th August 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience/retention professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

Five questions brands need to answer to be customer first in the digital age – Mckinsey

Having a consistent brand voice in this digital age is not an easy task anymore. A strong brand voice is a living, breathing manifestation of your brand promise. In this article, authors explain how to think about the challenges and opportunities.

The following questions are the most important ones to answer:

  1. Are you thinking about customer journeys rather than just touch points?
  2. How useful is your data?
  3. Do you truly understand why your customers are doing what they’re doing?
  4. How relevant are your communications and interactions?
  5. Do you have the right people on your teams (and the processes and guidelines to support them)?

Know more challenges reading this Article.

Predictive analytics: The key to pre-empting customer service problems? – Mycustomer

Business professionals know the value of data. Sadly, relatively few organizations have worked out on what to do with all this information. The fact is: all this data is useless, unless it’s properly analyzed and acted upon. So, here comes Predictive analytics, which takes this to a whole new level and can be used to anticipate customer behavior. To know the power of Predictive Analytics, read this article.

Big Data Is Changing How Businesses Make Decisions- Smart Data Collective

Data is at the heart of business decision-making. The rise of big data has created a situation in which more businesses can launch products based on predictive analytics rather than experiential testing. To know more about the impact of Big Data on Business Decisions, give this article a read.

Data Mining, Big Data Analytics in Healthcare: What’s the Difference? – HealthITAnalytics

The healthcare industry is known for its heavy dependence on snappy-sounding buzzwords and perhaps even more infamous for ever-so-slightly misusing them. The search for truly actionable data-driven intelligence continues with defining the difference between two very similar terms: data mining and data analytics. For more info, read this article –

Customer Feedback and Data Analysis: The Keys to a Good Customer Retention Rate -Smart Data Collective

Every company needs to focus on one, a key aspect to keep their business going by retaining customers from one purchase to the next. Efforts focusing on how to bring in new customers are a great feat to undertake, but such tasks are meaningless without considering a way to bring those customers back again and again. To know more about achieving this retention goal, read this article.

5 Fresh Examples of Customer Experience Innovation – Forbes

What are the ways you can make customers lives easier and better? If you start from there you will find yourself with tons of great ideas, and your business will go from disrupted to disruptor. In this article, the author talks about 5 innovate CX initiations in various industries. Read on for some insightful info.

We hope you have enjoyed this edition of Customer Experience Perspectives!

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Customer Experience Perspectives (3rd July 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

How to Integrate Data and Analytics into Every Part of Your Organization – Harvard Business Review

Many conversations about data and analytics (D&A) start by focusing on technology. Having the right tools is critically important, but too often executives overlook or underestimate the significance of the people and organizational components required to build a successful D&A function. To know more about D&A Capabilities and Strategy plan, read this article.

 

93% of Payers, Providers Say Predictive Analytics are the Future – HealthITAnalytics

Healthcare organizations will not be able to navigate the financial and clinical challenges of the future without investing in predictive analytics tools, said  more than 90 percent of respondents.To know more about impact of predictive analytics according to healthcare practitioners, read this article.

5 Best Practice Tips To Secure Your Big Data – Smart Data Collective

In this day and age, where literally everything is measured and monitored, there are vast quantities of data generated which can be used in many beneficial ways. The difficulty arises not only in deciding how to analyze the data for useful insights but rather how to protect the information. This article talks about five practices you can undertake to secure big data.

Getting Buy-In for Predictive Analytics in Health Care – Harvard Business Review

According to the National Academy of Medicine (formerly the Institute of Medicine), the U.S. health care system spends almost a third of its resources -$750 billion annually – on unnecessary services and inefficient care. New predictive analytics tools promise to reduce such waste and improve care. These tools are now being used across the continuum of care, from disease surveillance to chronic disease prevention to identifying patients who are at risk of deterioration. To know more about the transformative power of Predictive Analytics, read this HBR article.

Less Than 1% Churn? It’s Possible – Just Listen to Your Customers – Business to Community

Enriching your data with customer feedback gives you the actionable insights your business needs to turn prospects into customers—and customers into referral-rich advocates. Read the article here –

 

We hope you have enjoyed this edition of Customer Experience Perspectives!

Be sure to respond in the comments, tweet us at VOZIQ, or follow us on LinkedIn.

Customer Experience Perspectives (7th June 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

Avoiding the seven deadly sins of customer experience transformations – McKinsey

Efforts to improve the customer experience can deliver tremendous value, but temptations that can undo good intentions lurk in any change program. This article lists seven common missteps customer-focused companies must avoid.

Digitizing customer journeys and processes: Stories from the front lines -McKinsey

A compelling customer experience has evolved from ‘nice to have’ to a necessity in most industries. This article brings you an inside view of key stages of successful transformation. Most of the examples are drawn from financial services, but the lessons apply to any company seeking to reinvent its Customer Experience.

Customer Experience Crisis – Proactively Mitigating the Risk of Broken Promises – customerthink

In the eyes of a customer, a brand stands for a promise of value. Promises that are kept deliver a positive and rewarding experience that foster customer loyalty and positive recommendation.Today, when a brand breaks the promise spectacularly, the impact is not limited to one or two customers defecting to a competitor. Read this article for proactively mitigating risk of broken promises.

Customer Experience Transformation: One CMO’s Powerful Story -Forbes

This article outlines the impact of a non-traditional approach to customer experience transformation. The approach led not only to improved customer satisfaction but also to doubling of stock prices for the company. Know more about the powerful insights behind this huge success.

How to Build a better customer episodes -Bain

This infographic talks about importance of customer episodes and strategies to delivering better experience during each customer episode.

Mastering the digital advantage in transforming customer experience – Mckinsey

Digital services and operations are raising the competitive bar in every sector. To capture the opportunity, incumbents should embrace a new operating model that dramatically improves the digital customer experience. Read this article to know how.

We hope you have enjoyed this edition of Customer Experience Perspectives!

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Customer Experience Perspectives (8th May 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

The Sound Of Success: Building A Customer Experience That Gets The Subtle Things Right

The customer experience is made up of elements that are subtle, easy to get wrong, and powerful in their effect. These include color, light, smell, taste, texture, and sound. In this article, the author has shared his personal experience on his recent visit to hotel. To know more about how sound effects impacts on customer experience, you must read this article.

Improving Customer Experience Through Customer Data

Why does customer experience (CX) matter? In the digital marketplace, customers are even more demanding than ever before. More than half of customers today say they’ve switched companies solely because of poor user experiences. Companies who fail to embrace CX as a strategic path to growth won’t just be lagging; they’ll get left behind. To know more about the importance of customer experience, you must read this article.

 

Wasting Time Is the Worst Customer Experience

Reducing the amount of time a customer has to spend is one of the best ways to enhance the customer experience. The essence of digital is speed. Customers are obsessed with saving time. Those organizations who save customers’ time are like digital magnets. These days, customers are also obsessed with saving money. They go to the web to research, to compare, to find the best deal. To know more about how wasting time can impact customer experience, you must read this article.

 

 

4 Simple Churn Reduction Strategies for Your Subscription Box

Churn is a measure of attrition – the rate at which you lose subscribers. For a subscription business, churn is your main enemy. Actively reducing churn & keeping subscribers on for longer periods of time should be a core goal. At times though, it can feel like there’s nothing you can do to curb churn. Where should you start? In this article, you will find 4 strategies and 2 best practices related to churn. By implementing these, you can start to impact the churn of your subscription business.

Five Lessons From United Airlines About Handling A Customer Experience Gone Bad

Unless you live under a rock, you are most likely aware of United Airlines most recent misstep. A passenger who had boarded a plane was involuntarily bumped, asked to leave his seat and then was forcefully removed. The incident involving passenger Dr. David Dao has gone viral. There is public outcry and protests have begun. From this incident, we can learn five lessons customer experience gone terribly bad. To know more read this article.

We hope you have enjoyed this edition of Customer Experience Perspectives!

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Customer Experience Perspectives (6th April, 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

7 Tips to Skyrocket Your Customer Retention(fi.co)

Business is a numbers game. How much revenue was generated? How many new customers were acquired? These are the questions that run on every business person’s mind. And why not? After all, everyone in business is there to earn money, and getting more customers is the first thing that comes to mind when someone says making more money for a business. But in this Article, Author discussed a different perspective of business. To know more about perspectives, you must read this Article.

16 Must-Know Customer Experience (CX) Statistics and what they mean for Your Business.(customerthink.com)

Customer experience and customer-centricity are hot topics right now. Most of the talk is about why and how you should embrace CX. But would you like to know what the quantified business benefits are? Then this article is for you.To know more about CX Industry Statistics, you must read this Article.

Modernize Your Customer Service Experience The (New) Nordstrom Way(forbes.com)

Nordstrom has a way with customer service and the customer experience. And if you haven’t been keeping up with the Seattle-based retail giant lately, you’ve missed some approaches and enhancements in how it does business online, offline, and via mobile. By emulating the ways that Nordstrom has adapted and evolved its customer experience and customer service models, you can help your own business adapt to the modern customer landscape as well. To know more insights about Nordstrom way, you must read this Article.

 

How to Ensure Customer Experience is a Key Element of Your Business Strategy(customerthink.com)

The strategy needs to be a balance between what the business wants and what the customer wants. Creating that balance would mean that the strategy does not just focus on business-driven metrics (revenue, profit, cost, etc…), but also customer driven ones (loyalty, satisfaction, effort, etc.…). The better able a business is to create that balance, the more likely it is that it will not just deliver a better customer experience – it will also deliver a better employee experience.

 

Smooth Flights: Using Data To Optimize Airline Operations And Customer Experience(forbes.com)

While improving, the customer experience and profitability are clear motivators, new regulations penalizing delays in the United States and European airspaces incentivize airlines to take a fresh look at optimizing how an airline runs day to day and deals with unplanned disruptions.

 

We hope you have enjoyed this edition of Customer Experience Perspectives!

Be sure to respond in the comments, tweet us at VOZIQ, or follow us on LinkedIn.

Customer Experience Perspectives (1st March, 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

5 Best CX Strategies to Reduce Customer Churn in 2017

According to a research from Harvard Business School, increasing customer retention rates by 5% increases profits by 25% to 90%.

Based on the industry vertical and the market, companies from these industries need to design a predictive churn model to identify potential customers who have a high probability of churn. Check out these 5 best CX strategies that you can consider to make your customer happy and reduce churn.

10 Ways Machine Learning Impacts Customer Experience(forbes.com)

Today machine learning can help brands scale their engagement operations and provide increasingly relevant experiences. Machine learning holds the promise to change all the customer hate about customer experiences. Find out in this article how machine learning impacts CX in 10 different ways.

Banking Needs a Customer Experience Wake-Up Call(thefinancialbrand.com)

The financial services industry has been impacted by the increasing use of technology from smartphones to wearables. This transformation in methods of transacting has enabled more personalized engagement, allowing customers to engage  engage in seamless banking across channels. This has also increased both the potential and complexity of creating a positive customer experience.

To know more about CX Insights in Banking industry you must read this Article

Three Ways To Create An Engaging Customer Experience That Drives Sales(forbes.com)

No matter what type of business you’re in, if you want to take your customer service and experience to another level, take a few lessons from retail and hospitality.

You must read this article to know more about three ways to create a mood experience that also helps drive sales.

3 Factors Shaping the Next Wave of Customer Experience(cmswire.com)

2017 is well underway and already it’s been a big year for technology and innovation. Three foundational trends are going to define 2017 Artificial intelligence, IoT and personalization — because, when you strip away their distinct differences, these trends boil down to one specific end game: improving, enhancing and elevating the customer experience. To know more About the 3 factors in detail you must read this Article.

We hope you have enjoyed this edition of Customer Experience Perspectives!

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Customer Experience Perspectives (3rd February, 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

2017 Customer Experience Resolutions(customerthink.com)

What’s new in 2017 customer experience management? Like most resolutions, what’s new is less about shiny objects and more about mastery of down-to-earth principles. It’s all about keeping your eye on the prize with a sensible plan. Read the article to know more about the 5 ways to accelerate results that your customers and investors will both reward.

The Customer Experience: 5 Bold Expert Predictions For 2017(forbes.com)

In a lot of ways, customers aren’t that hard to figure out. They want to be acknowledged and respected as people, for instance. But what they prefer and do is dynamic to a great extent, too, leaving businesses racing to figure out how best to accommodate them. Check out the article to see how businesses are responding to consumers in 2017

Ten Customer Service And Customer Experience Trends For 2017(forrester.com)

Each year, new data comes out that indicates customer service and the customer experience (CX) are more important than ever. According to Forrester, 72% of businesses say that improving the customer experience is their top priority. Pay close attention to what’s trending in the world of customer service and CX. There’s something here that will impact every type of business. Read the article to find out which 10 trends you shouldn’t ignore.

Drive revenue with great customer experience – Our 2017 analysis will help you make a case for CX investments(forrester.com)

 

We know great CX drives revenue. But to make the case, you need a more nuanced and sophisticated understanding. So we used data from our Customer Experience Index (CX Index™) and modeled the revenue impact of improving CX.

To do that the author has raised three key questions:

  1. What is a customer’s loyalty (retention, enrichment and advocacy) worth in revenue dollars?
  2. Is there a relationship between CX quality and loyalty-based revenue?
  3. How does the relationship between CX and income potential differ by industry?

Learn more about the analysis and the result in this article.

The Difference Between Customer Experience And User Experience(forbes.com)

There are a lot of buzz words thrown around in the customer sphere, but two of the big ones relate to experiences—customer and user. Although CX and UX are different and unique, they must work together for a company to have success. Both customer experience and user experience are incredibly important and can’t truly exist and thrive without each other.

Read this article to understand the real difference between CX and UX.

We hope you have enjoyed this edition of Customer Experience Perspectives!

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Customer Experience Perspectives (5th January, 2017)

This edition of Customer Experience Perspectives features some of the best resources compiled by our analyst team for busy customer experience professionals like yourself!

Let us know your suggestions and any useful articles we may have missed.

 

Prescriptive Analytics: The Solution to Reduce Churn through Definite Actions

According to Gartner, prescriptive analytics is the next step in the value chain after predictive analytics. In this article, the author has described how by using prescriptive analytics in a churn situation, business leaders can decide which type of remedial actions can be used for different customers likely to churn. Read the article to know more about the benefits of prescriptive analytics in churn reduction.

Design Your Employee Experience as Thoughtfully as You Design Your Customer Experience (hbr.org)

 

Improving customer experience is often a top business priority, but what about employee experience? In this article, the author talks about the Employee Engagement Benchmark Study, 2016. The study showed that companies that excel at customer experience have one-and-a-half times as many engaged employees as customer experience laggards do. Read this article to learn more about the study and its impact on CX.

 

 

How to Drive Customer Experience Strategy: 5 Steps (customerthink.com)

Companies that treat customer experience as a determinant of corporate strategy tend to have stronger business results than companies that treat customer experience as a subset or unrelated to corporate strategy.

In this article the author highlights five strategies to drive customer experience:

  1. Shift gears from neutral to “drive”: sync with strategic planning.
  2. Keep your hand on the steering wheel: sync with the C-team.
  3. Keep your eyes on the road: tie-in to corporate vision, mission or values.
  4. Navigate to your destination: cascade strategies company-wide.
  5. Monitor your dashboard: sync CX management.

Read this article to know more about these tips

 

How The Customer Experience Vision Gap Is Holding Many Organizations Back (forbes.com)

There is a better way to approach problems, particularly when it comes to those associated with improving and developing the customer’s experience. Using this approach will allow organizations to develop an increased ability to deliver better and more sustainable growth, higher ROI and better outcome for them and their customers. Read this article for more insightful observations.

 

4 Ways for B2B Businesses to Keep Their Customers (hbr.org)

A large number of companies ignore the voice of the customer, blast cookie-cutter emails to all the names in their marketing spreadsheets, and lack the right survey and interview tools to gauge the health of their customer relationships. Customers expect the companies they do business with to understand them as individuals and connect with them in ways that are valuable. Doing this in the age of Big Data is more complicated and competitive than ever, requiring a thoughtful approach.

Here­­ are four ways to maintain strong and long-lasting customer engagement:

1.     Ask Yourself the Right Questions

2.     Understand Customers as People

3.     Align the Entire Organization Around Client Engagement

4.     Create Customer Advisory Boards

 

Five Trends Shaping The Future Of Customer Experience In 2017 (forbes.com)

Looking back, 2016 wasn’t exactly an easy year for consumers. Brexit, a tumultuous and surprising U.S. presidential election, and the immigration crisis have left many with a bad taste in their mouth. No matter what is going on in the world, practitioners must continue to show up for work every day to bring the best experience possible to their customers, and there is no better time to reflect on the next year than around the holiday season.

Here are Top Five Customer Experience Predictions For 2017:

  1. A Whole Lot Of IoT (No Eye Rolling Allowed)
  2. Machine Learning Can Improve Most Customer Experiences
  3. Data Defines Your Customer Experience
  4. Smart Diagnostics
  5. Mobile Everything

We hope you have enjoyed this edition of Customer Experience Perspectives!

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