Market Force Perspectives

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What does it cost if you fail to deliver on your brand promise? How does it affect your current and future sales? What does it mean for the long-term health of your business and ultimately your brand? These are important questions and, unfortunately, to ignore them can be a costly mistake.There is a simple truth when it comes to in-store execution. It costs just as much to deliver a bad experience as it does a great one.  Labor costs vary only...
Most convenience store and gas station operators understand the importance of an excellent customer experience. After all, fuel price and location are not the only factors that drivers consider when deciding where to fill up. But, the holy grail for these businesses is predicting how improvements in consumer experience can grow fuel volume sales.For more than a decade, Market Force Information has worked with Phillips 66 to design and conduct a mystery shopping program for...
Customer experience (CX) key performance indicators (KPIs) are important for any customer-facing brand because they let the business how satisfied and loyal its customers are. The best CX KPIs are typically focused on customer perception with metrics such as Overall Satisfaction (OSAT) and Likelihood to Return. Some surveys also include a question about Problem Experience and how effectively a business resolved a customer’s issue. These specific survey questions have a...
As contact centers push to shrink cost and increase efficiency in light of increased consumer demands, live chat is seeing a resurgence as a go-to customer support channel. We recently picked the brain of Ryan Stewart, our Vice President of Canadian Operations and Global Contact Center, to learn why chat is gaining in popularity, how it compares to other customer communication channels and which organizations should be using it.1. Chat has been around for two decades, yet it...
My office is located in Peachtree Corners, Georgia and for as long as I can remember, there’s been a Chick-fil-A right around the corner. I’ve loved having it there because it’s a tremendously convenient and great-tasting option for when I need something good to eat and quickly get back to the office. In fact, the drive-thru’s always really impressed me, on the rare occasion that I don’t go in. Around lunch time the line almost always wraps around the store. ...
The results of Market Force Information’s annual US banking study are in, and it’s good news for the retail banks. Consumer sentiment appears to be improving, as evidenced by the fact that 57% of those surveyed are very satisfied with their relationship with their primary bank – that’s up 8 percentage points over last year. Banking customers are also more inclined to recommend their primary bank to friends or colleagues.So why, specifically, is satisfaction up? Which aspects...
Just as the dust has settled, along comes a new shift in the data protection landscape.The California Consumer Privacy Act (CCPA), enacted in June 2018, has been cited by some as a move towards a GDPR-type data privacy law,1 which not only will provide California residents with a set of comparable rights with respect their personal information but which also places obligations on businesses which collect, use, sell or disclose that information. 2The CCPA is not an...
Businesses that don’t think reviews on social media matter are making a huge mistake. Users on social media platforms can have an immediate and deleterious impact on the bottom line.Just ask the Starbucks CEO after staff at a Philadelphia store called police on two African American men waiting to meet a friend. The interaction was caught on a smartphone and went viral. What followed was the shutdown of all locations nationwide as a training was conducted for all employees.Or...
Customer satisfaction surveys allow you to hear the voice of your customer at both the brand and location level. It can be a powerful tool in providing actionable insights to every level of the organization, and ensuring your customers have a mechanism for providing feedback to help you improve your service delivery and the customer experience.There may be many reasons for collecting personal data during the course of a survey. You may want to incentivise participation in...
Looking for insight in 2016 into how it executes in each of its stores in serving customers, MetroPCS partnered with Market Force Information to launch a mystery shopping program. The key component of the sales efficacy and customer service measurement tool was for the shopping results to be delivered real-time on the KnowledgeForce online reporting platform. This platform provides a snapshot of the customer experience at the location level, allowing managers to ensure...

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