“Experience Management (XM) is all about people. Customers are people. Employees are people. Partners, suppliers, and prospects are all people. Even “organizations,” at the end of the day, are really just large collections of people. Everyone who is creating or consuming experiences is a human being…” – XM institute Before an organization can effectively manage … Read more
In a recent interview with Zoey Chen, assistant professor of Marketing at the University of Miami School of Business and co-author of the Return Trip Effect. Colin Shaw derived these seven steps to create a memorable experience for your customers. Decide what type of memory you want people to have about your experience. Different strategies enhance … Read more
Lifetime Value (LTV), sometimes referred to as Customer Lifetime Value (CLV), is the average revenue a single customer is predicted to generate over the duration of their account. Customer Acquisition Cost (CAC) is the average expense of gaining a single customer. The ratio of lifetime value to customer acquisition cost helps you determine how much … Read more
I love the Agile development process. I love that there are short development cycles to pivot quickly in these ever-changing markets we are in; continuous reviews with stakeholder to ensure we are delivering the right business value or course correct if needed; and the use of stories to keep the focus on the people who … Read more
Voice of the Customer (VoC) programs are great for capturing, measuring, and, ultimately, improving your customer experience. But how do you take those great customer insights and get them from idea to solution? Ideas to improve or enhance an organization’s products and services can come from many sources. Sometimes it’s the people within the organizations … Read more
To determine exactly how customer experience affects loyalty, the XM Institute recently (December 2019 report) asked 10,000 U.S. consumers about both their experiences with and their loyalty to 294 U.S. companies across 20 industries, and then they analyzed their responses. The results show improved CX correlates to increase purchases and make recommendations: Purchase more from … Read more
Generation Z, is the youngest, most ethnically-diverse, and largest generation in American history, comprising 27% of the US population. Pew Research recently defined Gen Z as anyone born after 1997. Gen Z grew up with technology, the internet, and social media, which sometimes causes them to be stereotyped as tech-addicted, anti-social, or “social justice warriors.” Millennials currently hold the … Read more
Customer experience is a global principle. Although it might look different in each location, the concept is always the same: customers want to be valued and should be central to a brand. These 25 companies around the world each demonstrate a quality customer experience in their own way to build customer satisfaction and loyalty. Countdown … Read more
As organizations grow in size and the buying cycle gets more complex, maintaining a one-to-one relationship with prospects and customers at every stage of the buyer’s cycle can be quite an arduous task. It takes years to win a customer. Building a positive customer experience is not an overnight process. You have to spend a … Read more
From a recent Forbes.com post What customers want and expect is constantly changing. To stay ahead of the competition, companies need to constantly be finding new ways to serve customers and enhance the customer experience. These 20 companies showcase the freshest examples of customer experience innovation. 1. Mercedes Launches AR Owner’s Manual Car owner’s manuals are … Read more
According to Greg Chapman, Founder and CEO of The Pocket CMO, ‘customer segmentation provides a comprehensive understanding of your current and potential consumers that produces a variety of rich data including identifying the financially-optimal targets for your brand.’ Greg shares that: “Profiles are built from data. Personas are built from insights. You don’t market to … Read more
As more organizations move towards a more customer-centric way of doing business, customer journey maps remain an important tool to help companies better understand what’s happening today, and what customers want tomorrow. In an ‘outside-in, customer-centric’ way, customer journey maps serve to discover, codify and share relevant information across the customer lifecycle and help to … Read more