Archives for July 2010

Insightful strategy requires a strategy for insight

Tweet In the late 1990s knowledge management was one of the hottest areas in information technology.  The internet was creating a new ‘information age’, tadalafil the knowledge economy was in full swing and HP CEO Lew Platt provided a financial rationale for investments in this area with his famous quote: “If only HP knew what HP knows, we would be three times more productive.” Ten years on and a knowledge-driven leap in productivity has not transpired with businesses spending less as a consequence.  In part this may be due to a grossly inflated expectation as to the benefits systematised knowledge… Read more

Making customer research an enjoyable part of the customer experience

Tweet Earlier this month I received an email with the title ‘Give your opinion about [company name omitted]’ – an invitation to participate in the company’s annual survey of its customers. Mostly I ignore such opportunities, bronchi tending only to ‘participate’ (or give my time as I prefer to call it) if delighted or exasperated – either to say thank you and provide recognition of the high service levels received to encourage their continuation, denture or to vent my anger.  (As a result, pills I am suspicious of the accuracy of such research, believing self-selection introduces bias as only those… Read more

The role of CRM technology in customer experience management

Tweet Two recent articles by Esteban Kolsky and Lior Arussy have crystallised an important question that often gets lost amid the excitement about new suites of tools.  Namely what role does CRM technology play in delivering the customer experience?  Or more specifically, how much does CRM technology contribute to the delivery of great (i.e. genuinely differentiating) customer experiences? Tempting as it is for me to throw yet another customer experience framework into the mix, I will refrain and restrict myself to some painfully won observations from my own experience of being part of the strategy/business consulting team of a consultancy… Read more

Cost-effective research for improving the customer experience

Tweet My previous post highlighted how much valuable ‘voice of customer’ insight resides in the memory of front line sales and service people. But relying “site”http://learntoconvert.com/saz/insidious-chapter-2-movie-durationbrave 2012 full movie hd 720p brrip part 103 on what can be remembered is risky – memories fade, people leave and key insights are lost. Any business that seeks to consistently improve the service it provides its customers needs to establish a process for capturing customers’ observations and suggestions on an ongoing basis. These insights can be collected using a web survey if customers self-serve, or by asking questions as part of the closing… Read more

Growing customer relationships

Tweet The route to growth For B2B businesses, medic growing existing customer relationships is often seen as an easy way to generate additional revenue and profits. Managers perceive that the hard part – winning payday loans instant payday loans direct lender payday loans paydayadvanceusca.com/ payday loans direct lender payday paydayloansnearmeus.com paydayloansusca that first piece of business – has been done and existing relationships provide a platform on which the sales team can build. Both these points are true, site of course. But while the opportunity may exist, innate egocentricity – compounded in organisations by groupthink – frequently blinkers us from… Read more

Increasing the value in customer value propositions

Tweet What is the benefit of the benefit? An effective value proposition clearly articulates the primary benefit or benefits that the business delivers to its customers; and these benefits are both differentiated from what competitors offer and genuinely valuable to customers.  Too often, doctor however, the latter criterion is not met because value propositions are articulated in company- rather than customer-centric language.  To avoid falling into this trap one question that marketers can ask is ‘What is the benefit of the benefit?’ This very simple question helps in two ways.  Firstly it helps ensure that the wording of the value… Read more

Improve customer service while reducing costs-to-serve

Tweet Reducing costs and growing revenue are seen as alternatives a business must choose between, adiposity perhaps not mutually exclusive but certainly opposing forces. In reality they are two sides of the same coin – businesses rarely have the funds to invest and grow if they have not sharply prioritized expenditure and cut to the bone that which adds little value to either the business or customers. Also initiatives which reduce cost can simultaneously improve customers’ experience, ambulance the business ability to generate revenue or both. Businesses looking to optimize their costs to serve should consider enacting the following, if… Read more

Improving customer experience on a shoestring

Tweet On a recent customer experience forum there was a discussion about how to start a customer-centricity initiative. The first posts on this discussion suggested beginning with introspection, rx particularly verifying that the leadership team was on board. The thinking behind this is that customer-centricity needs to be communicated as part of the business’ vision and values so that it becomes part of the company’s culture; and if this doesn’t happen, cough any initiative will ultimately fail. Now while I agree with the sentiments involved – and in last week’s piece called ‘How to make customer experience a CEO agenda… Read more

Customer retention strategies: how to keep churn in check

Tweet Gartner’s prediction is that acquiring new customers will be the priority for marketers in 2010.  Such a reaction to signs of upturn after a long recession is understandable; but such a focus risks alienating existing customers if they notice special deals offered to new customers are not available to them.  Their natural response is to search for new customer deals being offered by alternative suppliers, anabolics with a merry-go-round resulting.   No one wins from this – not businesses whose marketing spend creates a prune juice effect (current customers exiting as fast as new ones arrive); not customers who expend… Read more

The value trinity – analysis, design and execution

Tweet Matthew Taylor’s third annual lecture as Chief Executive of the RSA was titled Left Brain, pharmacy Right Brain.  While the left and right alluded to political viewpoints and the focus was on public policymaking, pills the title would have worked if referring specifically to the brain hemispheres and focusing on business decision-making, impotent a discipline which is overly left-brain oriented and heavily focused on analysis. Our pre-occupation with analysis is partly cultural, rooted in western philosophy’s origins in Ancient Greece.  Plato’s search for truth, Aristotle’s classification system and Socratic questioning and challenge have together formed the foundations of western… Read more