Market Force Perspectives

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CX ROI: What's the value of investing?

There are two schools of thought around customer experience. The first school says, “Of course you have to focus on customers. Just do it.” The second says, “I have any number of initiatives where I need to spend money. Prove to me that my investment in CX has an ROI.” The latter is a tall order, but the link has been proven both by independent companies like Forrester and through modeling work by Market Force.In July of 2015, Forrester released new research regarding the link between CX...

Three Ways to Increase Your Survey Response Rates

Every brand wants customers to provide feedback. That feedback ensures that the brand has solid metrics around the customer experience being delivered by each of its locations—and can then help each location meet or exceed various goals.A 2015 research study conducted by Market Force showed that 83% of all consumers had completed at least one survey in the past 12 months, with an average of three to four being completed in that same time period. That’s good news. The bad news is that they...

The results are in! Market Force’s annual QSR survey

The results are in. Each year Market Force conducts a QSR panel survey across multiple categories, looking at which brands are consumer favorites and why. We conduct the survey in both the US and UK, this year surveying 10,477 and 4,565 consumers, respectively. The ranking is not just for overall favorite brands, but the survey delves into each brand’s ranking for factors such as staff friendliness, value, curb appeal, atmosphere and food quality, among others.The study also looks at...

Guest Recovery in the age of One Strike and You’re Out

The restaurant industry is a ‘one strike and you are out’ kind of business. If you disappoint a guest they are likely never coming back. There are just too many other options out there. Because of this brutal reality, many restaurant organizations have multiple listening posts to ensure that they are able to hear from their guests. Most concepts have guest experience surveys where a customer can take a survey and provide scoring on attributes such as their overall satisfaction, likelihood...

A softening economy means renewed focus on CX

The World Bank projects a 3.3% growth in GDP for 2016. But the projection for high income countries is lower, with the US at 2.8% and Europe at 1.8%. When the economy softens, businesses typically respond in two ways: By cutting costs By seizing the opportunity to gain competitive market share.The one thing businesses must not do is short-change their focus on customers. A 2015 study by Forrester Research shows that companies that deliver excellent customer experience have a high...

Bridge Silos and Improve Loyalty through Customer Journey Mapping

Customer journey mapping has become very popular in the last two years with 62% of Fortune 1000 companies reporting that they have conducted or are considering conducting customer journey mapping, according to a 2015 survey by Accenture. Why is it so popular? Because businesses are realizing that their functional organization creates silos—and therefore barriers—to a great customer experience. Forrester Research notes: “Many CX initiatives don’t meet their full potential—or worse, fail...

3 Things Women Want From Your Fashion Retail Sales Team

Shopping for new clothing: It can be the best of experiences and the absolute worst, with generally one of two outcomes. Women can leave your store with a spring in their step and confidence in how fabulous they look ... or they can leave discouraged and frustrated because nothing fits, they couldn’t find the right thing, or they had trouble putting together the ensemble they wanted. Your fashion retail sales associates can make all the difference to a woman’s shopping experience.In our...

Are apparel retailers delivering a customer experience that inspires loyalty?

We all know that the fashion industry is highly competitive, with every brand investing heavily in its brand image, marketing, fashion design, quality, price, locations and customer service. Some retailers spend up to 30% of their sales on marketing—driving traffic to stores and e-commerce sites in the hopes of capturing both new customers and more wallet share from existing customers.Yet, how well do fashion brands capitalize on that marketing spend? Do their individual locations create...

Focus Sales Associates’ Attention and Increase Conversion Rates

I’ve been working with retailers for over a decade and I see a common struggle: Sales associates are given a list of items to be done during the day—important things, such as cleaning, merchandising etc. Although they may diligently focus on the items on their ‘to do’ list, they may do that at a cost: Ignoring or underserving their customers.You’ve no doubt experienced this: A customer walks in the door and the associate remains absorbed re-arranging the merchandise on...

Make Loyalty Your Currency

You've painstakingly crafted your brand, your organization lives and breathes its values, and customers are responding to its message. Protecting that brand image is now paramount. As business booms, so does the need to establish processes to interact with customers, secure feedback, answer questions and resolve issues. You need a contact center. Whether your approach is home grown or outsourced, it’s imperative to institute an engagement strategy and to measure how effectively the contact...

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