Search Results: customer lifetime value
In today’s world, many companies are focusing on improving customer relationship management, and rightly so. Getting customer service right isn’t easy. According to Chris Ward of MyCustomer, 32 percent of customer service agents said they lacked sufficient knowledge to solve customer issues, and 22 percent have experienced significant problems because the information they had access…
The customer relationship management space is buzzing with tips about providing a unified customer experience, but what exactly does that mean in the context of customer experience management (CXM)? Simply put, a unified customer experience is when customers feel like they are interacting with a single company, regardless of their channel. The reality is that…
Before the COVID-19 lockdowns, many companies were moving toward automation and using technology to improve customer service functions. During the stay-at-home orders and aftermath, companies accelerated their digital technology initiatives. McKinsey reports that some companies achieved seven years of progress in less than a year. Innovating the customer service experience at a rapid pace continues,…
Interactions are the small building blocks of relationships. Over time, the quality of interactions defines how committed people feel to the relationship. The same dynamic holds for customers and brands. In a world where nearly 64% of consumers want brands to connect with them, each interaction is a chance to either build trust or disappointment….
Let’s say you are a teenager and want to borrow your aunt’s car. Do you ask her right after she just hung up from an annoying call? How about when she comes inside after mowing the lawn on a hot day – that same lawn you were supposed to mow yesterday? Most likely, you would…
The lockdowns and aftermath of the 2020 global pandemic spiked growth in e-commerce sales as brick-and-mortar stores and restaurants closed their doors. Meetings and classrooms shifted to Zoom almost overnight. The pandemic pushed late adopters into new ways of shopping and interacting. Today even as people are returning to stores, the share of purchasing due…
Today’s customers increasingly expect personalized experiences from brands, so it is tempting to think that if your customer were having a problem, their first choice would be to get on a live call with customer service. When looking at actual customer behavior, the opposite is true. According to a Forrester report, 72% of US online…
The concept of customer perception seems obvious, it is basically the customer’s opinion of a company at any given point during their customer journey. What is not so simple is tracking and measuring all the different variables that influence customer perception. The good news is that one direct way to improve customer perception is to…
Before social media and smartphones, brands primarily engaged with customers via one-way advertising channels like established print, radio, and three to five main television channels. Social media disrupted that top-down dynamic, opening up the conversation to include the customer in unprecedented ways. Brands no longer control customer behavior regarding what people share about companies. People…
Today’s companies have multiple communication channel options to reach customers and vice versa. Designing a channel strategy that improves support and overall customer relationship management can feel overwhelming. Companies need a solution that can capture their customer’s entire journey, in a way that improves on the traditional support ticket or help desk. One strategy goal…
It is a fact of human nature (and customer relationship management) that people are more likely to complain than they are to give praise. When customers are unhappy, customer service agents are busy. For many years companies believed that customer service was the vanguard for building customer loyalty. Today we know that it’s not quite…
For many years, companies focused on customer touchpoints to gauge customer satisfaction. In recent years, companies have seen that touchpoints do not capture the whole picture. Management consulting firm McKinsey makes the point that customer touchpoints only measure satisfaction at a single point in time. They don’t necessarily guarantee the customer is happy with their…