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...
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...
For emerging restaurant concepts, scale is the name of the game. Increasing the number of locations is the quickest way to obtaining meaningful additions to revenue; however, the industry is littered with brands that didn’t get it right—chains that grew too much too quickly. There is a delicate balance between growth and instilling processes that ensure quality and consistency at each location. The strongest brands provide the same experience regardless of where the...
In a Forrester Research article authored by Jennifer Belissent, PhD, Forrester, the author defines insights services in this way:"Insights services combine internal and external data sourcing and advanced analytics to deliver actionable business insights that clients subscribe to and apply to specific functional or verticalbusiness use cases."                      —Insights Services Disrupt The Data And Analytics Market,...
2017 is in full flight. As business leaders, we’ve all committed to objectives and targets ranging from product introductions to revenue growth and cost management. We’ll have balanced scorecards, any number of reporting dashboards, and the ubiquitous spreadsheet telling us whether we’re on track to achieve our goals. But be careful. Many of those metrics are lagging indicators—a rearview mirror into what’s already happened. We need to have leading indicators that help us...
In the January-February 2017 issue of the Harvard Business Review, the article “Curing the Addiction to Growth” presents a provocative idea: Companies in all industries eventually see their growth slow. The authors argue that too often, multi-location businesses focus on opening new stores to drive growth—even when doing so can destroy the profitability of their other businesses.Instead of focusing on sales growth, the authors suggest that multi-location businesses should...
In a recent study conducted in the UK, Market Force found that bad customer service could be stalling a high street revival, with seven in 10 shoppers vowing never to return to a particular store because of a bad experience. (Read more about the study here.)We found that slow service, rude staff and unavailable items are deterring shoppers from the high street amid Brexit-related price hikes and another disappointing Black Friday. In our survey of 3,000 UK adults, seven in...
According to Deloitte nearly three quarters (72%) of consumers still want to use their local branch to access financial services. This emphasizes the importance of the branch experience on customer loyalty—at least for now. However, our most recent competitive benchmark shows over one in ten banking customers are not satisfied with their relationship with their primary bank. This makes brands vulnerable to losing market share. Overall, 12% of all banking customers are...
Retailers with brick-and-mortar stores need to differentiate from online channel retailers. What will help create that differentiation? Engaged staff that love their brand, understand the mission statement and are empowered to create great customer experiences.To find out whether your brand has created the culture and environment that engages employees, you’ll need to ask them. But doing that, especially across very large organizations, can present obstacles. Here are five tips we’ve...
Brands continue to invest in customer experience—and that investment is validated by independent analysts in the CX space. MarketsandMarkets projects that the CX space will grow from $4 billion in 2014 to $8 billion in 2020.Why do brands continue to invest in CX? Because there is a high ROI.In the recent Market Force webinar featuring Forrester, titled “Show Me The Money”, Forrester profiled companies that they have identified as CX leaders and CX laggards....

Pages

We've noticed you might not be visiting the appropriate version of our site. Would you like to: