November 2016
ROI of CX, NPS & VoC Benchmarks, and Culture
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We had a great time celebrating CX Day last month! As part of the festivities, we created a lot of free content in order to help people improve the customer experience at their companies: During this past month, we also published a number of new research reports: - The ROI of Customer Experience. We found that a moderate increase in CX generates an average revenue increase of $823 million over three years for a company with $1 billion in annual revenues. See more below.
- Net Promoter Benchmark Study. In our fifth annual Net Promoter® Score benchmark study, USAA, Cadillac, and Apple earned the highest NPS® out of 315 companies across 20 industries. See more below.
- State of VoC Programs. For the sixth straight year, Temkin Group has benchmarked voice of the customer (VoC) efforts within large companies. This year we found that only 16% of large companies are in the top two stages of VoC maturity. See more below.
- Temkin Experience Ratings of Tech Vendors. In our fifth annual benchmark of customer experience in the tech industry, we analyzed feedback from 800 IT decision-makers in large companies and found that HPE outsourcing, IBM SPSS, Google and HP products deliver the best customer experience. Capgemini, Infosys, and Accenture consulting, on the other hand, earned the lowest ratings.
In addition to all these reports, we also published a new infographic, Guide to Organizational Culture Change, which helps to demystify the critical topic of culture change.
Sharp eyes may notice that in our Free Resources section below, I've added a link to our new resource, CX Data Snippets for Presentations. This page contains graphics of key data points from our research that you can easily grab and include in your presentations. We will continuously update this page, so check back!
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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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Journey Mapping Workshop in Miami on December 8 & 9
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In Case You Missed It...
Here is some research we discussed in recent journals:
- 2016 Temkin Emotion Ratings. Publix, Chick-fil-A, Residence Inn, H-E-B, True Value, Kroger, Save-a-Lot, Wawa Food Market, QVC, and Amazon earned the highest emotion scores out of the 294 companies evaluated.
- Translating Brand Promises into Employee Behaviors. This report provides best practices for making, embracing, and keeping brand promises.
- Channel Preferences Benchmark, 2016. In Q3 2016, we surveyed 10,000 U.S. consumers about which channel they prefer to use when performing 11 different activities.
- Tech Vendor NPS Benchmark, 2016 (B2B). Of the 62 tech vendors we evaluated, IBM, HPE outsourcing, IBM SPSS, and VMware earned the highest NPS, while Cognizant, Capgemini, and Infosys received the lowest.
- My Latest 9 Recommendations For NPS. In this post, I discuss topics such as choosing a metric, the effects of sampling, and setting appropriate targets.
- Five C's of Mobile VoC Disruption. Research shows how mobile is transforming how organizations capture and use customer insights.
- 2016 Temkin Web Experience Ratings. USAA, Regions Bank, and Amazon took the top spots in these Ratings.
- State of Employee Engagement Maturity. We used Temkin Group's Employee Engagement Competency & Maturity Assessment to gauge the maturity levels and efforts of large companies.
- 2016 Temkin Customer Service Ratings. USAA earned the highest score for the fourth year in a row in these Ratings.
- Emotion-Infused Experience Design. This report shows how to design experiences that create stronger emotional connections with customers.
- State of CX Management, 2016. For the seventh year in a row, we've benchmarked CX competencies and maturity levels of large organizations.
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The ROI of Customer Experience
To understand the connection between CX and loyalty, we examined feedback from 10,000 U.S. consumers that describes both their experiences with and their loyalty to different companies. In The ROI of Customer Experience, we used this feedback to understand the impact of CX across 20 industries.
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Net Promoter Score Benchmark, 2016
With an NPS of 68, USAA's insurance business earned the highest score in the study for the fourth year in a row. Four other companies also earned an NPS of 60 or higher: Cadillac, USAA's banking business, Apple, and USAA's credit card business.
Comcast, meanwhile, earned the lowest NPS for the second year in a row, coming in just below Time Warner Cable, Cox Communications, and McDonalds.
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State of Voice of the Customer Programs, 2016
In State of VoC Programs, 2016, we analyzed feedback from 169 respondents at large companies, each of whom completed Temkin Group's VoC Competency and Maturity Assessment. This assessment examines competencies across what we call the "Six Ds:" Detect, Disseminate, Diagnose, Discuss, Design, and Deploy.
When we compared higher-scoring VoC programs with lower-scoring programs, we found that companies with mature programs are more successful, they focus more on analytics, and they have more full-time staff, more strongly coordinated efforts, and more involved senior executives.
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Temkin Group Research Plans and Updates
We have quite a few exciting new reports underway, including Capturing Insights from Customer Communities, Digital Emotional Design, Temkin Loyalty Index, Tech Vendor Client Success Ratings, and Engaging a Tethered Workforce.
- 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 and workshops. We deliver leading-edge CX practices through in-house workshops, open-enrollment workshops, and customized training programs.
- Assessments of CX plans and capabilities. We identify gaps and opportunities in your CX plans and competencies.
- Informative and compelling speeches. 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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