Greetings!
Happy New Year! I wish you and your entire family a happy, healthy, and prosperous 2013.
The year may just be starting, but this month's journal is full of new content. It starts with 13 customer experience trends to watch in 2013 and includes highlights from two new research reports: The State of CX Metrics, 2012 and What Happens After a Good or Bad Experience?
Before things get too crazy, we have two Temkin Group events to put on your calendar:
Watch for an announcement next week about the 2012 CX Excellence Award. We had an incredible group of nominees and are looking forward to recognizing the finalists and winners for their great CX efforts.
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13 CX Trends To Watch in 2013
In 2013, we are moving deeper into the Era of CX Professionalism in which many CX management practices will gain maturity. So how will CX be changing? The recent blog post 13 Customer Experience Trends to Watch in 2013 provides details about the following trends:
- Decline of surveys: Fewer multiple choice questions.
- Rise of text analytics: More unstructured feedback.
- "Big data" predictive insights: Analytics applied to multiple data sources.
- Anticipatory service: Take action before customers complain.
- Experience-infused product development: Embed CX into products from their inception.
- Design-based process improvement: Use customer empathy to drive process change.
- Loyalty-focused contact centers: Prioritize long-term value over short-term productivity.
- Appreciation of employee assets: Focus resources on engaging employees.
- Mobile, mobile, mobile: Connect mobile with other channels.
- Software as an Experience: Cloud computing goes through a CX evolution.
- Resurgence of values: Commitment to vibrant missions and customer promises.
- Rethinking risk-experience trade-offs: CX finally trumps overly conservative business rules
- Continuing CX education: Universities and corporate training embrace CX.
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CX Workshop in Miami South Beach in February
- Learn key principles of CX.
- Engage in small group exercises at retail locations.
- Participate in interactive discussions on how to build and sustain great CX.
- Meet and share with other CX professionals.
This workshop costs $1,695. Sign up now before it fills up.
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State of CX Metrics, 2012
In the report The State of CX Metrics, 2012 we examine the activities of more than 200 large companies and compared those results to data from last year. Our research shows that companies with strong CX metrics programs are five times as likely to be CX leaders.
We examined a number of CX metrics activities. As you can see below, likelihood to recommend metrics are on the rise.
Here are a few of the other findings:
- Only 11% of respondents think that their company mostly integrates CX and financial metrics, and it's down from 13% in 2011. Also, only 35% of companies consider CX metrics in many of their important decisions.
- About 40% of executive teams review CX metrics at least monthly, which is about the level we found last year.
- Fifty percent of companies use common metrics across most of their company, an increase from 43% last year.
- Over half of companies feel good about their measurements of phone and online experiences, but only about one-quarter of them feel that way about measuring mobile and cross channel experiences.
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We uncover insightful consumer behavior in the report What Happens After a Good or Bad Experience?
As the title suggests, we asked 5,000 U.S. consumers about how they responded to different types of experiences from companies. The research uncovered a deep connection between service recovery and loyalty. Here are some of the findings:
- ING Direct (2%), Holiday Inn Express (2%) Whole Foods (3%) and Holiday Inn (3%) had the fewest occurrences of bad experience, while Best Buy (29%), QVC (29%), Gap (28%), and eBay (26%) had the most.
- After a bad experience consumers were most likely to completely stop spending with rental car agencies (40%), credit card issuers (39%), computer makers (35%), and auto dealers (35%), but least likely to stop spending with retailers (9%) and Internet service providers (10%).
- When companies responded very poorly after a bad experience, 47% of consumers stopped spending completely with the company. When they had a very good response, only 6% stopped spending and 37% increased their spending.
- 38% of consumers gave feedback directly to the company after a very bad experience, but only 31% gave feedback after a very good experience.
- 14% of consumers gave feedback on a rating site like Yelp after both a very good and a very bad experience.
- The use of twitter to communicate about a very bad experience has grown from 4% to 9% of consumers over the last year.
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Customer Experience Matters Blog
Here are some other recent posts: |
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Temkin Group Research Plans and Update
We have a lot of research underway, even early in the year including a look at B2B best practices, the state of the CX profession, 2013 CX plans, the 2013 employee engagement benchmark study, some employee engagement case studies, and an update to the four CX competencies report. We are also kicking off research for the 2013 Temkin Ratings. Here's a link to our current list of research.
If you're looking to accelerate your customer experience efforts, here are a number of ways that Temkin Group can help:
- Assessments of customer experience efforts, to identify gaps and opportunities to accelerate your transformation efforts
- Speeches and webinars on a wide range of customer experience and leadership topics
- Interactive workshops for executive teams or other groups to gain alignment around key customer experience principles and priorities or to develop plans in areas such as voice of the customer programs
- Educational curricula to establish and reinforce an understanding of proven customer experience principles across an organization
- Strategy reviews of marketing and product plans for vendors who want to help companies transform their customer experience
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Subscribe to Temkin Group Research
Temkin Group research and advisory services can be a great resource to your CX efforts. The insights will help you implement best practices, benchmark your performance, identify mistakes to avoid and provide you with guidance along the way. Our corporate subscriptions include the following:
- Unlimited access to all Temkin Group research and Temkin Ratings data for all of your employees for 12 months (for internal use only)
- Up to 10 inquiries (questions that Temkin group can answer in a short email or during a phone conversation of up to 20 minutes)
- One advisory call (phone discussion up to 90 minutes)
Please send us an email if you are interested in pricing or in receiving more details about our research subscriptions.
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CXPA Update
Are you a member of the Customer Experience Professionals Association (CXPA.org) yet? If not, then you're really missing out on an amazing resource for things such as:
The CXPA is a nonprofit organization that's dedicated to the success of customer experience professionals. Join us!
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Sincerely,
Bruce Temkin
Customer Experience Transformist
& Managing Partner
Temkin Group
Chair, Customer Experience Professionals Association
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We are a research and consulting firm that combines thought leadership with a deep understanding of the dynamics of large organizations to help senior executives accelerate their customer experience transformational efforts
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CX Execs Starter Kit
Check out Temkin Group's great package for CX executives that combines research, eBooks, and an educational presentation for execs and their key stakeholders
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1) Faking Executive Commitment
2) Over-Relying on Customer Surveys
3) Neglecting Experience Design
4) Treating All Customers the Same
5) Un-Engaging New Customers
6) Ignoring Employees
7) Obsessing About Detractors
8) Forgetting to Celebrate Success
9) Falling in Love with a Metric
10) Mapping Internal Touchpoints
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