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)

Senior execs not clear on social media's impact

While 75% of respondents see customers as a critical source for innovative ideas, the inability to manage their feedback from social networks has left them unable to build a strategy that formally accounts for these insights. This means that customer feedback from social media is not playing a role in the development of new products and services.

With Twitter growing at a rate of 17% a month, the need for organisations to track customer feedback online is more important than ever. Yet, only 6% of companies track the size of their customers' social networks or referrals on social networks, and only 2% track the number of 'retweets' on social networks referencing their company. Nearly two thirds of companies (60%) are trying to redefine this type of 'customer value' to include social feedback but few have been able to redefine it at this stage.

The value of the customer is increasingly being seen across the organisation with 55% of respondents recognising that social media has made customer service a universal responsibility. As a result, data needs to be shared and analysed more quickly so that appropriate action can be taken across the enterprise. Despite this, only 52% of respondents are confident that their companies are using the technology adequately to understand their customers, and only a quarter believe that their company can respond quickly to new business environments including the evolution of new social networks.

"With social networks growing exponentially, customer feedback has become increasingly complex; therefore businesses need to redefine the way that they value customers. Customers can be the best brand ambassadors as independent advocates of an organisation," explained Richard Kellett, director of marketing for SAS UK. "These people have the ability to drive sales through direct recommendations and influencing their peer group via the wider social network. But for businesses to truly benefit from these relationships they need to take a holistic view of the customer community, which will allow them to understand which customers are of critical value for business development."

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)