The Incentive Research Foundation recently released a study, Incentivizing Your Channel Partners Leads to Positive Business Outcomes, based on 2,000 dealers with the opportunity to win an incentive travel trip. Out of these 2,000 dealers, approximately 20% of these dealers are awarded the trip annually.
And that leaves us … ???
CXM without the endgame of loyalty and advocacy is simply effort wasted. Learn more here….
Is effective Internet copyright enforcement even possible? “We won’t know,” writes blogger Kevin Drum, “until we try.” But Congress has been “trying” for two decades, with ever-larger costs to consumers and taxpayers.
Why? Because providing satisfying customer experiences has a real impact on the bottom line:
- Forrester estimates that improved experiences can drive from $46M to $1.7B in increased revenues, depending on the industry.
- Bruce Temkin conducted a survey that showed that experience leaders exceeded laggards by roughly 15% in terms of their customers’ willingness to buy more, reduced likelihood to switch, and likelihood to recommend.
- Aveus conducted a research study and found that “organizations that have a well-understood definition of customer experience are twice as likely to beat their profit targets than those who do not.”
Results like these get noticed, and more and more clients are asking about for digital tools that provide “an ideal digital customer experience.” However, few fully understand what it takes to develop, deliver and continually optimize one digital channel (i.e., web), let alone a collection of interconnected channels (web + mobile + social + email). They also don’t always know where to start; for example, customer experience management should ideally focus on improving each and every customer touchpoint and interaction. Most businesses, however, simply don’t have the time and resources needed to make a wholesale change to the way they interact with customers via their marketing, sales, and customer service systems.
So the real questions are:
- Where is the best place to start developing and maturing your experience management capabilities?
- How do you develop a realistic roadmap forward for developing and maturing the technology, people and processes needed to execute and optimize an integrated multichannel customer experience that delivers business results?
Having spent a number of years as both a company executive and consultant, I’ve been on both the strategy development and implementation sides of the equation, and I know that the answer to each of these questions will be uniquely different every each company or organization. That said, in my experience, the process of determining where to start – and the roadmap forward – are similar no matter what the size or complexity of of a business. In the coming days, I’ll be working to develop each of these steps in detail in separate blog posts. For now, here are the basic steps as I have seen them play out time and time again…”.