Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Temkin report forecasts evolution of CEM

The research examined how customer experience management (CEM) has evolved and where it is heading, and found that 59% of large companies have ambitions to be industry leaders in customer experience within the next three years.

At the same time, Temkin Group estimates that there are more than 100,000 people in North America employed in full-time customer experience roles. Based on this significant ambition, and the development of customer experience tools and techniques by the growing pool of customer experience professionals, many companies are already building strong customer experience management capabilities.

"Customer experience has reached a tipping point, with a critical mass of professionals defining repeatable best practices and delivering strong ROI to their firms," noted Bruce Temkin, author of the research and managing partner for Temkin Group.

The report also revealed that companies are being motivated by a clearer understanding about the link between good customer experience and stronger business results. Temkin Group completed a study of 10,000 consumers that shows a strong correlation between customer experiences and loyalty across 18 industries in the US. In fact, a company with US$1 billion in annual sales can generate more than US$300 million more over three years with only a modest improvement in customer experience.

As organisations improve, the report suggests that they typically evolve through six stages of customer experience maturity:

1. Ignore
   The company does not see customer experience as a key differentiator.
2. Explore
   An ad-hoc group is established to understand how the company can improve customer experience.
3. Mobilise
   A full-time executive leads the effort to improve customer experience and the company establishes a cross-functional governance system.
4. Operationalize
   The company redesigns many of its operational processes using clear insights about customers.
5. Align
   Customer experience behaviours are widespread across employees and they are supported by the company's standard measurement and incentive systems.
6. Embed
   The company delivers great customer experience without focusing on it explicitly. It comes as a result of the entire organisation being committed to the company's clear sense of purpose.

While companies are gaining customer experience maturity, new technologies and processes are enabling more innovative practices, and the report goes on to identify and explain eight emerging customer experience skills that companies will need to master over the next several years: journey-centric alignment, mobile-infused experiences, predictive personalisation, distributed contextual insights, federated customer experience capabilities, business rhythm integration, rejuvenated purposefulness, and promoter activation.

The report has been made available via the Customer Experience Matters blog - click here.

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)