Your Guide to Customer Experience Transformation

February 2016
CX ROI, Emotions, Plans for 2016 & Lessons
in CX Excellence
Greetings! 
 
We have a lot of exciting customer experience content to share with you this month. To begin with, we published a new infographic, The ROI of Customer Experience. It shows the link between customer experience, loyalty, and revenues.
As I've mentioned in previous journals, Temkin Group has labeled 2016 as The Year of Emotion. We believe that emotion will be a key area of focus for customer experience this year. As part of our commitment to support those efforts, we released a new video, Emotion: The Missing Link in Customer Experience. We had a lot of fun putting this together and hope that you enjoy our 2.5-minute production.

 In this month's journal, I highlight three new pieces of research:
  • Customer Experience Expectations and Plans for 2016. We surveyed 160 large companies and used their responses to examine CX priorities for the upcoming year.
  • Lessons in CX Excellence, 2016This is typically one of our most popular reports of the year. It provides details on the eight finalists for our CX Excellence Awards: EMC Global Services, Hagerty, InMoment, Safelite AutoGlass, SunPower, The Results Companies, Verint, and Wheaton | Bekins.
  • Tech Vendors: Product and Relationship Satisfaction, 2016800 IT professionals from large companies rated both the products of and their relationships with 62 tech vendors. Intel, Google, and HP outsourcing earned the highest overall satisfaction ratings.
We also just opened up nominations for the 2016 CX Vendor Excellence Awards. These awards recognize any type of vendor (software company, research firm, consultant, etc.) that helps its clients deliver great customer experience. Submit your nominations by March 11th.

And don't forget that Temkin Group is here to help accelerate your CX results. Check out our schedule of highly interactive workshops, which are a great way to build CX skills. Register soon for our customer journey mapping workshop on March 8th & 9th in Miami, as it's likely to sell out.

 
 
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Temkin Group is a leading CX research, advisory, and training firm. We help the world's largest brands accelerate their transformational journeys towards customer-centricity and build loyalty by engaging the hearts and minds of customers, employees, and partners. Our team combines CX thought leadership with a deep understanding of the dynamics of organizations to accelerate results.
Don't Miss Upcoming Journey Mapping Workshop
Register for Temkin Group's hands-on workshop: 
in Miami on March 8th & 9th
Learn what it takes to build and use customer journey maps.
In Case You Missed It...

Here is some content we discussed in recent journals:
  • 11 CX Trends for 2016 (The Year of Emotion). Want to see what's in store for 2016? Check out our annual list of CX trends.
  • The State of CX Metrics, 2015. In our fifth annual benchmark of how large organizations use CX metrics, we found that the percentage of companies with strong CX metrics efforts grew from 11% in 2014 to 14% in 2015.
  • Make Your VoC Action-Oriented. Our research shows that in order for voice of the customer programs to become more actionable, they must be simplified. This report identifies five strategies for simplifying VoC programs: Stakeholder Empathy, Tailored Insights, Feedback Rationalization, Loop-Closing, andCustomer Journey Alignment.
  • Tech Vendor Client Success Ratings. Based on a survey of 800 IT decision-makers, we developed client success ratings for 82 companies. Sitting at the top of the list are IBM softwareIntelPitney Bowes, and IBM SPSS.
  • Temkin Loyalty Index. We evaluated five different areas of consumer loyalty for 293 companies, and USAAH-E-B, Publix, and Trader Joe's earned the highest loyalty ratings.
  • B2B CX Best Practices: Our research uncovered 20 best practices for customer experience across five key business-to-business (B2B) processes.
  • ROI of Customer Experience, 2015. Our research shows a strong correlation between CX and several areas of loyalty across 20 different industries. Our model found that a modest improvement in CX can generate more than $800 million in additional revenue over three years.
  • Net Promoter® Score Benchmark Study, 2015. We surveyed 10,000 U.S consumers and used their feedback to calculate the NPS® of 291 large organizations across 20 industries. USAA earned the highest score, while Comcast earned the lowest.
February 11 (1:00 ET): Temkin Group 
March 8 & 9: Temkin Group workshop in MiamiMapping & Improving Your Customers' Journey
March 11: Nominations due for 2016 CX Vendor Excellence Awards
March 18 (1:00 ET): Temkin Group webinar: 2016 CX Trends: CX Profession Maturing
April 5: Bruce Temkin is speaking in Toronto at the Strategy Institute's Customer Experience Strategies Summit
April 6 & 7Temkin Group 
workshop in 
San Diego: Driving Customer Experience Transformation
July 19 & 20Temkin Group workshop in BostonDriving Customer Experience Transformation
Customer Experience Expectations and Plans for 2016

In the data snapshot CX Expectations and Plans for 2016 we surveyed 160 respondents-each from a company with $500 million or more in annual revenues-about their customer experience efforts over the past year and their plans for 2016 and beyond. This annual research effort shows that companies are increasing focus, effort, and spending on customer experience in 2016.

Firms plan to increase their spending the most on voice of the customer software, CX consultants, and text analytics. And they are planning to focus more on Web experiences, CX measurements, CX insights, and customer-centric culture.


Lessons in CX Excellence, 2016

The report, Lessons in CX Excellence, 2016, provides insights from eight finalists in the Temkin Group's 2015 CX Excellence Awards: EMC Global Services, Hagerty, InMoment, Safelite AutoGlass, SunPower, The Results Companies, Verint, and Wheaton | Bekins. The report--which has rich insights about both B2B and B2C customer experience--is 100 pages long, including an appendix with the finalists' nomination forms.

Here's a summary from the three winners of the award.
  • For over 10 years, EMC's Total Customer Experience (TCE) program has helped transform the company from a leader in storage to a leader in big data, cloud, and trust technologies. In order to continue improving in the field of CX in 2015, EMC's senior leadership sponsored the implementation of the Next Generation TCE program, with the mission to "Enhance the total customer/partner experience, leveraging a data-driven approach for continuous improvement throughout the customer/partner journey."
  • To support its corporate vision of becoming the "natural choice for vehicle glass repair and replacement services in the U.S.," Safelite AutoGlass adopted two strategic principles--People Powered and Customer Driven--both of which are rooted in the idea that engaged employees create loyal customers who, in turn, help the company grow. Each of these principles is built on four cornerstones, including leadership, caring, focusing, and listening.
  • The sustainable energy company SunPower has a corporate-wide CX strategy founded on three core elements: Knowing our Customers, Creating a Branded Experience, and Driving Engagement with Customers and Employees. SunPower used a customer-validated journey map to chart emotional responses at each phase of the lifecycle, making sure to represent the stages with cross-functional stakeholders who then determined the ideal outcomes for the customer throughout the journey.
Tech Vendors: Product and Relationship Satisfaction, 2016

During Q3, 2015, 800 IT professionals from companies with at least $250 million in annual revenues rated both the products of and their relationships with 62 tech vendors. The research examines satisfaction with eight areas. Across the eight areas, Intel, Google, and HP outsourcing earned the highest satisfaction ratings, while Unisys, Sage, and Cognizant IT services received the lowest. 

When it comes to product satisfaction, Intel leads in product features, Apple and IBM IT services lead in product quality, Google leads in product flexibility, and NetApp leads in product ease of use. When it comes to relationship satisfaction HP outsourcing leads in tech support and in cost of ownership, Intel leads in account team support, and Google leads in innovation.

Temkin Group Research Plans and Updates

We have quite a few exciting new reports underway, including, Experience Review: Mobile Gift Cards and Lessons in CX Excellence, Customer-Driven Process Improvement, Distributing CX Across the Organization, State of the CX Profession, 2016, Emotion-Drive Experience, and the 2016 Temkin Experience Ratings.

 

Here are some ways that Temkin Group can help accelerate your CX success:

  • Research & Advisory subscriptions. Get access to leading-edge best practices, assessments, and benchmark data, in addition to ongoing advice from our CX Transformists to help keep your efforts on track.
  • CX training. We deliver leading-edge CX practices through in-house workshops, open-enrollment workshops, and customized training programs.
  • CX assessments. We identify gaps and opportunities in your CX plans and competencies.
  • Speeches and webinars. We will inform and inspire your internal or client audiences.


If you're interested in Temkin Group's research or services, then drop me a line at 
bruce@temkingroup.com, visit our website at www.temkingroup.com, or give us a call at (617) 916-2075.

 

Sincerely,

Bruce Temkin, CCXP
Customer Experience Transformist & Managing Partner
Temkin Group 

 

Co-founder, Customer Experience Professionals Association 

 

 

Net Promoter Score, Net Promoter, and NPS are registered trademarks of Bain & Company, Satmetrix Systems, and Fred Reichheld. 

Customer Experience Matters is a registered trademark of Temkin Group.