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CUSTOMER LIFETIME VALUE

Futurelab

#NoBullshitCX #20yearsFuturelab “Unhappy customers cost you more than you think.” A customer is worth more than you think. In my previous column, I mentioned the surprisingly high lifetime value of individual customers–once you really get an understanding of the whole picture. The first time I realized was in the early 2000s, when we designed customer experience strategy for a Japanese luxury car brand.

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The CX value model and linking experience to business outcomes – Interview with Michael Hinshaw of McorpCX

Adrian Swinscoe

Today’s interview is with Michael Hinshaw, the founder and president of customer experience consultancy McorpCX. Michael joins me today to talk about the CX value model […] The post The CX value model and linking experience to business outcomes – Interview with Michael Hinshaw of McorpCX first appeared on Adrian Swinscoe.

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How to Measure the Hidden Impact on ROI of Evoking Customer Emotions

Beyond Philosophy

A hidden impact exists regarding your experience management return on investment (ROI). It is often overlooked because it lurks between a specific moment in a customer process and the behavior resulting from it. However, uncovering and understanding this hidden impact is critical for comprehending its implications on the bottom line. Emily Davidson wanted to know how to determine the value of her Customer Experience initiatives, a challenge many in the field face.

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Welcome to the Revenue Revolution: A Company Update from Alistair Rennie, CEO of Totango

Totango

In today’s dynamic landscape, the customer holds unprecedented power. It’s no longer sufficient for businesses to merely survive; they must deliver measurable value quickly and consistently. While new customer acquisition remains important, our era of responsible growth underscores the vital importance of guiding customers toward positive business outcomes as the most sustainable pathway to success.

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Strategic CX: A Deep Dive into Voice of the Customer Insights for Clarity

Speaker: Nicholas Zeisler, CX Strategist & Fractional CXO

The first step in a successful Customer Experience endeavor (or for that matter, any business proposition) is to find out what’s wrong. If you can’t identify it, you can’t fix it! 💡 That’s where the Voice of the Customer (VoC) comes in. Today, far too many brands do VoC simply because that’s what they think they’re supposed to do; that’s what all their competitors do.

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Uncovering the Psychological Tactics That Drive Customer Purchases

ECXO

Uncovering the Psychological Tactics That Drive Customer Purchases If you prefer to watch a summary of this article, check out the video: Uncovering the Psychological Tactics That Drive Customer Purchases I see and hear many CX professionals with great intentions when it comes to improving touchpoints in the customer journey and the customers’ lives with their brands.

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The Anatomy of an Effective Contact Center One-on-One Conversation

Customer Service Life

Image by Mikko Koivuneva from Pixabay Whether it’s called a one-on-one meeting, or a coaching conversation, or a performance check-in, this regular conversation between a supervisor and an employee is essential to an effective and high-performing contact center. In a recent article on Why Contact Center Quality Assurance Matters I stated my case for a robust and consistent quality assurance program.

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Mastering ‘Mental Accounting’: The Key to Persuasive Buying Decisions

Beyond Philosophy

Learn more about Colin Shaw : Join over 80,000 people on our LinkedIn Newsletter list or visit our website for more great podcast episodes. Listen to the podcast: I am excited. My wife and I are going on a cruise to India. It’s a big splurge for us, and we look forward to it. I mention it here, not to rub it in your face (much), but because in the booking of this cruise, I saw an excellent example of how my wife and I leverage mental accounting regarding our splurges.

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The Power of Atomic Change to Unlock Quantum Growth in Any Business

C3Centricity

Organizations must be agile and adaptable to thrive in today’s rapidly evolving business landscape. This is why atomic change is more effective than quantum disruption. The traditional approach to turbulent times has always been a monumental, top-down transformation. But this is no longer the only path to success and is certainly not the most effective.

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Industry Report: State of the Contact Center 2024

Fonolo

With the labor shortage, a workforce in transition, and the dynamic (but disruptive) impact of AI, managing a contact center in 2024 can be a real workout. Why not take a break from the heavy lifting for a moment, and check out Fonolo’s annual State of the Contact Center report? This e-book is one of our most anticipated documents of the year, featuring insights from industry experts about the topics that matter most in today’s contact center.

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The Right Customer Promises Drive Better Marketing Results

Customer Think

One of the more infamous quotes in marketing is usually attributed to John Wanamaker, who reportedly said, ” Half the money I spend on advertising is wasted. The trouble is, I don’t know which half.” Cracking the code on what drives marketing effectiveness can be incredibly difficult.

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Mapping Digital Transformation: Retail’s Strategic Shift

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

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Ensuring Customer Loyalty Amid Price Changes: Lessons from Wendy’s Public Backlash

Doing CX Right

Do You Want To Change Your Pricing Model Without Jeopardizing Customer Loyalty? Read and Apply Strategies Based On Case Study That Resulted In Consumer Backlash. The post Ensuring Customer Loyalty Amid Price Changes: Lessons from Wendy’s Public Backlash appeared first on Doing CX Right.

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Unsupervised Sentiment Analysis: Extracting Insights From Unlabeled Data

Zonka Feedback

Sentiment analysis models that learn on labeled data are a common sight. The main challenge arises when you have unlabeled data at your disposal and you want to extract customer sentiments or emotions from it.

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145: A Woman’s Rise to the Top Using Smarts, Heart, and Courage

The DiJulius Group

Imagine the shock when we discover that the quiet powerhouse of customer retention could eclipse the flash of traditional advertising in driving business success. This episode of The Customer Service Revolution peels back the layers of customer experience, highlighting how a 5% uptick in retention might skyrocket profits by an astounding 75%. We contrast the.

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The importance of moving from on-premise to cloud-based tech?

Logicalware

With more than 40,000 calls per month, long hold times, overwhelmed contact centre agents, and frustrated customers, the reality for Ombudsman Services – the UK’s leading independent dispute resolution company – was challenging. With a growing number of businesses and consumers relying on its specialist services, it needed to find a new way of working to create a more agile and scalable contact centre.

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Software Composition Analysis: The New Armor for Your Cybersecurity

Speaker: Blackberry, OSS Consultants, & Revenera

Software is complex, which makes threats to the software supply chain more real every day. 64% of organizations have been impacted by a software supply chain attack and 60% of data breaches are due to unpatched software vulnerabilities. In the U.S. alone, cyber losses totaled $10.3 billion in 2022. All of these stats beg the question, “Do you know what’s in your software?

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Enhancing Customer Support with ChatGPT: A Game-Changer

Customer Think

Due to tech advancements, the consumer journey has changed a lot. The customers are already expecting too much because, through the internet, they want a personalised touch to their experience. 52% expect to use ChatGPT to answer customer questions, and 43% to outreach potential customers.

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Amplitude’s Jenna Elliott on navigating the future of customer success

Intercom

It’s the world’s worst kept secret right now that the realm of customer experience is being completely transformed by AI – spanning customer support, success, and beyond. In customer-centric companies everywhere, strategies are being recalibrated, tactics switched up, and old playbooks thrown out the window. But what changes are being made? This week on The Ticket podcast, our VP of Customer Support Declan Ivory chats with Jenna Elliott , VP of Global Customer Success at digital analytics platfo

AI 59
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How to Design Effortless Customer Experience and Remove Roadblocks

Doing CX Right

Stacy Sherman and featured guest, Greg Mckeon, New York Times best selling author, explain how to make customer experiences effortless. Simplify work, align with needs, and validate assumptions for success. Listen to podcast now. The post How to Design Effortless Customer Experience and Remove Roadblocks appeared first on Doing CX Right.

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The Evolution of Performance Management at Help Scout

Help Scout

VP of People Leah Knobler shares why we outgrew our old performance management system, how we revamped the process to embrace a more performance-driven culture at Help Scout, and what we've learned along the way.

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7th Annual CX Report by The Northridge Group Uncovers Priority Training Focus

JUST RELEASED! New research reveals 92% of business leaders would like to provide additional training to their customer service representatives. Soft skills training stands out as a priority area of investment and/or improvement. Check out The Northridge Group’s latest CX research report —the 7th annual CX survey of 1,000 customers and 250 business executives—to see additional statistics as well as insights that businesses can use to benchmark their customer service and improve the overall exper

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The AI-powered future of CX and EX is here—let us be your guide

Zendesk

AI is radically transforming the world of customer service, and at Zendesk Relate , you’ll gain insights and best practices to lead your organization through this next wave of transformation successfully and make your business ready for AI-first service. You’ll leave with the perspective, connections, and know-how to provide more meaningful experiences, deliver automated service through next-gen digital agents that customers love, and equip your agents and admins with the knowledge to harness cu

AI 59
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Offshoring and AI: How Cost-Cutting Fixation Can Damage Revenue and Brand Reputation

Customer Think

Both strategies require careful implementation and constant supervision! By John Goodman and Peter North, Customer Care Measurement & Consulting CCMC’s latest National Rage study found that 43% of Americans admit to having yelled at a service person, and over half reported having rage. 9% are seeking “revenge” against a company.

AI 64
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The AI Feedback Loop: From Insights to Action in Real-Time

Zonka Feedback

Customer feedback allows you to understand your audience, identify areas for improvement, and ultimately, build stronger relationships. But in today’s data-driven world, navigating the vast amount of customer feedback can be overwhelming.

AI 59
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Customer Experience matters in B2B relationships

RateMyService

A lesson on shared responsibility Photo by Nick Fewings on Unsplash Customer experience is a crucial competitive advantage in business-to-business (B2B) relationships. Every interaction a client has with your company, from customer service to billing, shapes their perception of your brand. One negative interaction can unravel years of goodwill. This was recently highlighted when one of our clients described an unpleasant encounter with a key supplier.

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When Customers Win, You Win: How to Deliver Value That Transforms Your Customer Experience

Speaker: Donna Weber - Customer Onboarding Expert

Customer onboarding is so much more than going live with your product and driving adoption. The truth is, onboarding is the most important part of the customer journey. When you set positive first impressions, establish trusting relationships, and quickly deliver meaningful outcomes, you create customers for life. Invest an hour with Donna Weber to learn why your customer onboarding is critical to your success.

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7 Key Indicators Your MSP Call Center Needs a Revolutionary Shift

Hodusoft

7 Key Indicators Your MSP Call Center Needs a Revolutionary Shift For Managed Service Providers (MSPs), a call center is extremely crucial. That’s one of their most potent tools to deliver exceptional customer service. The MSP market has become extremely competitive and customer service matters a lot in providing a competitive edge. As per one recent study by Datto, MSPs, on average, serve 122 clients.

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Intelligent call routing: How it works and best practices

Zendesk

What is intelligent call routing? Intelligent call routing (ICR) is a refined telecommunications technology that efficiently directs incoming calls based on various factors, such as the caller’s needs and agent availability. ICR optimizes call handling and improves customer experiences by using data points and algorithms to connect callers with the most qualified agents.

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The dark corners waiting to undermine your customer experience

Customer Think

In November of last year, I spoke at the CX NXT – Customer Experience Summit in Dubai on the topic of failure, fumbles and fiascos in customer experience.

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Master How to Create a Questionnaire: A Step-by-Step Guide for Effective Surveys

Zonka Feedback

The best way to know how your customers and stakeholders feel about your business, products, or services is to ask them. A good questionnaire can serve this purpose.

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Your Expert Guide to CX Orchestration & Enhancing Customer Journeys

Speaker: Keith Kmett, Principal CX Advisor at Medallia

Join Keith Kmett, Principal CX Advisor, in this new webinar that will focus on: Understanding CX Orchestration Fundamentals: Gain a solid understanding of what CX orchestration is, its significance in the customer experience landscape, and how it plays a crucial role in shaping customer journeys. This includes the key concepts, strategies, and best practices involved in CX orchestration. 🔑 Connection to Customer Journey Maps: How to effectively integrate customer journey mapping into the

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Royal Mail - yet more bad news

The Customer Service Blog

The price of stamps will rise yet again next month - the fourth increase in two years for the cost of sending a letter first class. Royal Mail has announced that the price of a first-class stamp will rise by 10p to £1.35 and second-class stamps will increase by 10p to 85p. The price rises come after a warning by the loss-making company over the impact of higher costs and lower demand for letters.

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How to Anticipate and Address the Unintended Consequences of CX Transformation

Execs In The Know

Humor me for a second, and imagine your company is Homer’s Odysseus. And if customer experience (CX) transformation is your odyssey, it would serve you well to remember that the journey, if not carefully navigated, can be fraught with tunnel-visioned Cyclops, time-eating Lotus Eaters, and the seductive Siren calls of newly hyped technologies. Today, staying “current” and on course can feel overwhelming.

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Translating iconic experiences to a digital space—with Aesop’s Carine McGinnity

Zendesk

If you’ve ever walked into an Aesop store, it’s a full sensory experience. The smells, the sights, the samples—and the incredibly warm and knowledgeable staff. It’s hard to imagine such a rich experience ever existing online and yet, the team at Aesop is tackling just that. The work began in 2020, when much of the world retreated from physical spaces.

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What Exactly Is Customer Experience?

Customer Think

Years ago, I wrote a post titled, What Exactly is Employee Experience? I know I’ve written tons about customer experience, and I’ve included my definition here and there, but there are always new folks coming into the discipline, so why not do a refresh.

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How Personalized Customer Experiences Drive Retail Growth and Revenue

Speaker: Shaunna Bruton - Associate Director of Product Strategy at Orium | Sam Panzer - Director of Industry Strategy at Talon.One | Frank Passantino - Director of Product Management at Bloomreach

More and more, customers are expecting a better personalized CX. But can retailers actually deliver? Data from McKinsey shows that companies that excel in personalization increase their revenue by 40%, but despite these numbers, retailers struggle to implement customer personalization strategies. So what are the potential solutions? Join us to gain a better understanding of the current retail landscape and learn what you can do to translate personalization strategies into practical implementatio