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See things in the present, even if they are in the future.Larry Ellison, co-founder of Oracle
Presently, this is what I’m seeing in CX.
2021 Customer Experience ROI Study
This is a nice study by Watermark Consulting examining the impact of good customer experience on the company value indicator the majority of CEOs care about the most: share price.
The approach is simple in theory (there is quite a lot of work to do of course):
- Identify companies with good and bad CX using a variety of industry studies: Forrester, Temkin Group, etc.
- Track their share price.
- Compare the two.
The results could not be more clear:
- CX Leaders achieve higher total returns than the average company (S&P 500)
- CX Laggards total returns actually shrink over time.
Download the full report for all the details but next time someone asks …
Where’s the proof that CX actually generates business value
…just show them the chart.
[Changing Your Perspective]
Service Is Not Servitude
Long time CX/Customer Service practitioner Bill Quiseng shows that good content doesn’t have to be long content, it just needs to make you think.
Check out his post for the all the details but here’s the key sentence for me:
“Service is not servitude … Service is not satisfying your customers because you have to please them. Instead, make your customers happy because you want to please them.”
Pull out his list in your next product / service / software design meeting.
I particularly like:
- Keep It Simple; and
- Avoid Feature Creep: kind of a corollary to 1. More is not synonymous with better.
Check out the list and find the ones you like the best. ✅