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   In this Issue:
      Driving CX
      Managing Quotes
      A Few Quick Seconds
      Latest Blog Posts
 

Sales & Marketing Newsletter Volume 417

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Did You Know?

Many companies have high customer satisfaction rates but have a difficult time translating the high satisfaction-levels into action.

This problem often occurs when an organization fails to effectively measure all drivers of the customer experience.

To avoid this pitfall, and to ensure your Customer Experience program generates the anticipated ROI, Dr. Vikas Mittal, a Professor at Rice University, suggests going beyond simply measuring “overall satisfaction.”

Instead, a better approach involves taking a customized, comprehensive approach by identifying and measuring the key drivers of customer satisfaction for your organization.

“I was involved in a satisfaction study for a document delivery company," Vikas explained. "Customer interviews showed reliable delivery to be a key driver. But this was not specific enough. Further research showed that, by reliable delivery, customers really meant delivery within two days… which became the new standard.”

He also warns against taking a one-size-fits-all approach, and recommends segment-specific analyses to avoid working to improve the wrong things.

Recognizing how customer relationships and priorities evolve over time is also a factor. “Trust and confidence might be very important to customers in the early stages of the relationship; but, over time, efficiency or quality might become the key drivers of satisfaction.”

Finally, it is imperative to tie customer satisfaction to retention and referrals.

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 Managing Quotes
 
 
"To win in the marketplace you must first win in the workplace."
—Doug Conant 
 
 
"If you are persistent, you will get it. If you are consistent, you will keep it."
—Harvey Mackay 
 
 
"Those who can’t change their minds can’t change anything."
—George Bernard Shaw
 
 
"The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow."
—William Pollard
 
 
"You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new."
—Steve Jobs
 
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Driving CX: The Customer Experience
 
Improving the “Customer Experience” (CX) has become a top priority for the vast majority of organizations this year, says the Forrester CX Index.

It makes sense… in order to thrive and grow, an enterprise must satisfy its customers.

But research also shows that the “CX” concept means different things to different people; and in many cases, the difference in opinion or interpretation is taking place between provider-organizations and their customers!

One of the best definitions we’ve found describes CX as, “the sum-totality of how customers engage with your company and brand, not just in a snapshot in time, but throughout the entire arc of being a customer.”

We favor this definition, which was published by the Harvard Business Review, because it emphasizes the importance of measuring customer satisfaction over time.

“Companies have long emphasized touchpoints—the many critical moments when customers interact with the organization and its offerings on their way to purchase and after,” the article states. “But the narrow focus on maximizing satisfaction at those moments can create a distorted picture, suggesting that customers are happier with the company than they actually are.”

The key lesson associated with this perspective is that an organization must understand and satisfy customer needs on a comprehensive basis, not just at points of purchase or delivery. Many refer to this more all-inclusive perspective as being customer centric.

When an organization is truly customer centric, the customer is at the center of its philosophy, operations, decision-making, and processes. The “voice of the customer” is gathered from numerous sources – including the use of tools such as NPS and customer surveys, and via systematized feedback loops from sales and customer support personnel. This information is put to practical use on a day-to-day basis, thus enabling the organization to not only better-understand and serve its clients, but to also anticipate their needs.

Customer Experience Drivers
A recent Gartner report shared steps for becoming more customer centric and for driving CX. Among their key findings was the importance of culture.

“One of the most critical factors in customer centricity is organizational culture," the report said. "Organizations that invest in their employees and in adequate CX governance see greater investment from their customers.”

Their research also revealed the importance of clearly-addressing customer concerns over data privacy, and being able to quickly-react to customer feedback or emerging demands.

This latter point requires a fair degree of organizational agility, a concept defined by Conway Management Company as, “the ability to identify the developing threats and opportunities to our mission and to quickly align or realign resources to thrive in the new environment.”

The Gartner report also listed common habits of the most customer centric organizations. Some key inclusions:

  1. Continually listening to customers and consistently following-up with customers on their feedback
  2. Acting proactively to anticipate needs
  3. Building customer empathy into processes and policies
  4. Engaging employees
  5. Adapting to customer demands and circumstances in real-time

 


A Few Quick Seconds…

Here are a couple of related articles from past issues you might have missed, and which generated especially positive feedback:

Know Your Customer
I don't think it was by chance that Arthur "Red" Motley's well-known and frequently cited fifteen-word definition of the selling process begins with a reference to customers...

Read full article

 
5 Keys to a Good Question

When involved in selling, it is critical that we truly understand our customers' needs, interests and priorities. Otherwise it is nearly impossible to close the sale. The question is, which are the best questions to help us find out?

Read full article...

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