April 2016
Temkin Experience Ratings, Future CX Organizations, and Process Improvement
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Greetings!
Last month we published the sixth annual Temkin Experience Ratings, our free (yes, free!) benchmark evaluating the customer experience of 100s of companies. Here's a preview of the best and worst companies. You can find out more about the Ratings below.
- MaritzCX
- Medallia
- Potentiate
- Rant & Rave
- Walker Information
In this journal, we also cover four additional new research reports:
- What Happens After a Good or Bad Experience, 2016. This annual analysis first examines which companies deliver the best and worst experiences and then looks at how consumers subsequently share these experiences and change their purchasing behaviors.
- The Federated Customer Experience Model. This report discusses how companies need to focus more on embedding CX capabilities across departments and functions through a federated CX model, a structure for enabling and coordinating a distributed set of customer experience capabilities.
- Customer-Infused Process Improvement. This report highlights five strategies for connecting CX and process improvement methodologies: Prioritize Improvements Across Customer Journeys, Embrace Deep Customer Empathy, Involve Customers in Solution Development, Innovate to Meet Latent Needs, and Measure Success with Customer-Focused Metrics.
- Data Snapshot: Media Use Benchmark, 2016. Our analysis examines the amount of time consumers spend every day watching television, browsing the Internet, reading books and newspapers (both print and electronic), listening to the radio, reading a print magazine, and using a mobile phone.
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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.
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Employee Engagement Workshop in Boston on May 10th & 11th
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Year of Emotion: Make A Difference in 2016!
In our CX Trends for 2016, we named 2016 " The Year of Emotion." To help organizations emotionally engage customers, we created an Intensify Emotion page with numerous resources, including the opportunity to share your ideas and win part of our $1,000 award.
Here's a tip for how to intensify emotion in your CX efforts:
Every time you interact with a customer, they reach one of five emotional states ( we call them the Five As): Angry, Agitated, Ambivalent, Appreciative, or Adoring. Ask front-line employees to label which of these five states they think customers are in, and then use their responses as a tool for coaching them on customer emotions and for raising organizational empathy.
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In Case You Missed It...
Here is some research we discussed in recent journals: |
2016 Temkin Experience Ratings
We recently published the 2016 Temkin Experience Ratings, the most comprehensive benchmark of customer experience in the industry (and the report is available for free). This year, the sixth year of the Ratings, we asked 10,000 U.S. consumers to rate their experiences with 294 organizations across 20 industries.
Here are the overall industry results:
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What Happens After a Good or Bad Experience, 2016
In What Happens After a Good or Bad Experience, 2016, we asked 10,000 U.S. consumers about their recent interactions with 315 companies across 20 industries and compared the results with similar studies we've conducted over the previous five years. Here are some of the findings:
- More than 20% of the consumers who have interacted with TV service providers and/or Internet service providers during the previous six months report having a bad experience, the highest levels of any industry.
- AirTran Airways (28%), Time Warner Cable (27%), Comcast (27%), and HSBC (25%) have the highest percentages of consumers reporting bad experiences.
- The percentage of revenues at risk due to bad experiences is highest for TV service providers (6.8%) and rental cars (6.5%) and lowest for retailers and supermarkets (less than 2%).
- Seventy-six percent of consumers share their experiences after a very bad experience, but only 69% share after a very good experiences. About 50% of consumers share their experience directly with their friends, while about 19% share it on Facebook.
- As you can see below, companies can actually increase their revenues when they respond very effectively after a bad experience.
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The Federated Customer Experience Model
When a company starts its CX journey, it often establishes a centralized team to build the necessary internal capabilities and catalyze change. However, that team's effectiveness can be limited by a number of things, including divided attention within lines of business and a lack of resources to reach across the company. In The Federated Customer Experience Model, we introduce an emerging structure for enabling and coordinating a distributed set of customer experience capabilities. It operates through centers of excellence, which spread specialized expertise beyond the boundaries of the centralized team, along with enterprise CX coordination, which ensures that company-wide goals and standards are in place, and distributed CX skills and mindsets, which infuse customer-centric mindset throughout the company.
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Customer-Infused Process Improvement
Process improvement and customer experience have traditionally served different roles in a company. However, these two disciplines are starting to intersect as customer experience looks to process improvement to operationalize key customer interactions and process improvement needs customer experience to provide customer-focused insights and continually monitor new processes.
- Prioritize Improvements Across Customer Journeys: By understanding customer interactions in the context of their broader journeys, companies can invest in process improvements projects that have the most impact on the customer's experience.
- Embrace Deep Customer Empathy: In order to effect sustainable changes, employees impacted by redesigned processes need to understand why these changes are important to customers.
- Involve Customers in Solution Development: Process improvement efforts must have resources available to ensure that ongoing, incremental changes can be made based on this customer input.
- Innovate to Meet Latent Needs: Customers can't always articulate what they want; instead, they often describe a slightly improved version of what they already know.
- Measure Success with Customer-Focused Metrics: Companies can't measure the success of process improvement efforts with internally focused, operational metrics.
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In January 2016, we surveyed 10,000 U.S. consumers about their media usage patterns and compared the results to similar data we collected in January 2015, January 2014, January 2013, and January 2012.
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Temkin Group Research Plans and Updates
We have quite a few exciting new reports underway, including, Emotion-Driven Experience Design, State of CX Management, 2016, Social Media Benchmark, 2016 Temkin Trust Ratings, and 2016 Temkin Forgiveness 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.
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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.
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