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Growth Personal Development

Big Data Conversations: Don’t Get Caught

 

By Judith Glaser

Why and How of Engaging Customers

Gallup’s State of the American Consumer report states, “Fully engaged customers are more loyal and profitable. Afully engaged customer represents a 23 percent premium in terms of share of wallet, profitability, revenue, and relationship growth.”

How can you effectively engage with your customers who operate at warp speed? We live in a world of right now, and the demand for instant results is seeping into every corner of our lives. Instant gratification is no longer a desire—it is an expectation.

In what Qualtrics calls the “era of immediacy,” we now operate in real-time and expect everything instantly. To engage with their customers and satisfy their need for speed, businesses must re-engineer their approach. Today, it’s about giving the customer what they want, when they want it and how they want it—or they’ll go someplace else. 

Fast data is gathered quickly and shared and acted on quickly, before its shelf life expires. Fast data delivers the information needed to help address specific issues, drive results and propel innovation in the moment. Fast data helps enterprises gather real-time insights into what customer are thinking so they can address issues in the now and keep customers happy. Enterprises need to catch customers and employees when they’re thinking it. Forrester Research predicts: “In the age of the customer, the race will be won or lost based on your firm’s ability to know your customers and react faster and better.”

For example, the Viceroy Hotel Group used fast data to uncover valuable insights about potential customers that boosted the hotel’s bottom line. Using Qualtrics Site Intercept product, the VHG experienced a sudden surge in local web traffic. Managers scratched their heads. The locals weren’t planning to stay there, so what was up with all the traffic? In less than an hour, the LA-based hotel set up an online survey using Site Intercept that asked local visitors what they were looking for. It turned out they wanted a happy hour menu. A quick fix allowed the hotel to make the happy hour menu available to anyone from the LA area who visited the website. With fast data, the VHG delivered potential customers exactly what they wanted, which boosted the hotel’s bottom line.

Meet the Voice of the Customer

Enterprises struggle with having access to the right information at the right time and place in order to interact with customers, build new products, and improve service. This is why most leaders are investing resources to strengthen their customer engagement programs. This renewed commitment to customer engagement impacts how enterprises approach their Voice of Customer (VoC) initiatives. VoC is now a strategic initiative for better understanding customers and responding to their specific needs.

For example, JetBlue, another Qualtrics’ customer, noticed that their NPS score at a Philadelphia airport was very low for an early morning flight. By focusing on this insight, JetBlue could trace customer dissatisfaction to the fact that the shops and amenities in the terminal were not open when customers were looking for coffee and refreshments before their flight, making them grumpy. With this insight, JetBlue responded quickly by passing out water, juice and coffee at the gate in the morning to boost customer morale. This made a tremendous change in JetBlue’s satisfaction scores.

Customers now expect to give feedback, and to have that feedback acted on. This expectation is driving the demand for VoC. Organizations are looking to technology to address the new rules of customer engagement.

Today, anybody can gather data on nearly anything. The challenge isn’t in finding the right solution to help you gather data—it is in finding the right solution to allow you to access, and act upon those insights quickly and effectively. Otherwise, customers will go someplace else. Adapt or vanish, the old adage goes.

We can now collect insights faster than ever before, enabling us to make timelier and better business decisions, improve business results and create happier, engaged customers. This means more revenue and profits. In the era of immediacy,” actionable data enables us to give our customer what they want, when and how they want it.

Judith Glaser COLOR copy

Judith E. Glaser is CEO of Benchmark Communications, Inc., Chairman of The Creating WE Institute, an Organizational Anthropologist, consultant to Fortune 500 Companies, and author of four best selling business books, includingConversational Intelligence: How Great Leaders Build Trust and Get Extraordinary Results (Bibliomotion, 2013) Visit www.creatingwe.com orwww.conversationalingelligence.com; email jeglaser@creatingwe.com or call 212-307-4386.

 

Categories
Growth Personal Development

Big Data Conversations: Don’t Get Caught

 

By Judith Glaser

Why and How of Engaging Customers

Gallup’s State of the American Consumer report states, “Fully engaged customers are more loyal and profitable. Afully engaged customer represents a 23 percent premium in terms of share of wallet, profitability, revenue, and relationship growth.”

How can you effectively engage with your customers who operate at warp speed? We live in a world of right now, and the demand for instant results is seeping into every corner of our lives. Instant gratification is no longer a desire—it is an expectation.

In what Qualtrics calls the “era of immediacy,” we now operate in real-time and expect everything instantly. To engage with their customers and satisfy their need for speed, businesses must re-engineer their approach. Today, it’s about giving the customer what they want, when they want it and how they want it—or they’ll go someplace else. 

Fast data is gathered quickly and shared and acted on quickly, before its shelf life expires. Fast data delivers the information needed to help address specific issues, drive results and propel innovation in the moment. Fast data helps enterprises gather real-time insights into what customer are thinking so they can address issues in the now and keep customers happy. Enterprises need to catch customers and employees when they’re thinking it. Forrester Research predicts: “In the age of the customer, the race will be won or lost based on your firm’s ability to know your customers and react faster and better.”

For example, the Viceroy Hotel Group used fast data to uncover valuable insights about potential customers that boosted the hotel’s bottom line. Using Qualtrics Site Intercept product, the VHG experienced a sudden surge in local web traffic. Managers scratched their heads. The locals weren’t planning to stay there, so what was up with all the traffic? In less than an hour, the LA-based hotel set up an online survey using Site Intercept that asked local visitors what they were looking for. It turned out they wanted a happy hour menu. A quick fix allowed the hotel to make the happy hour menu available to anyone from the LA area who visited the website. With fast data, the VHG delivered potential customers exactly what they wanted, which boosted the hotel’s bottom line.

Meet the Voice of the Customer

Enterprises struggle with having access to the right information at the right time and place in order to interact with customers, build new products, and improve service. This is why most leaders are investing resources to strengthen their customer engagement programs. This renewed commitment to customer engagement impacts how enterprises approach their Voice of Customer (VoC) initiatives. VoC is now a strategic initiative for better understanding customers and responding to their specific needs.

For example, JetBlue, another Qualtrics’ customer, noticed that their NPS score at a Philadelphia airport was very low for an early morning flight. By focusing on this insight, JetBlue could trace customer dissatisfaction to the fact that the shops and amenities in the terminal were not open when customers were looking for coffee and refreshments before their flight, making them grumpy. With this insight, JetBlue responded quickly by passing out water, juice and coffee at the gate in the morning to boost customer morale. This made a tremendous change in JetBlue’s satisfaction scores.

Customers now expect to give feedback, and to have that feedback acted on. This expectation is driving the demand for VoC. Organizations are looking to technology to address the new rules of customer engagement.

Today, anybody can gather data on nearly anything. The challenge isn’t in finding the right solution to help you gather data—it is in finding the right solution to allow you to access, and act upon those insights quickly and effectively. Otherwise, customers will go someplace else. Adapt or vanish, the old adage goes.

We can now collect insights faster than ever before, enabling us to make timelier and better business decisions, improve business results and create happier, engaged customers. This means more revenue and profits. In the era of immediacy,” actionable data enables us to give our customer what they want, when and how they want it.

Judith Glaser COLOR copy

Judith E. Glaser is CEO of Benchmark Communications, Inc., Chairman of The Creating WE Institute, an Organizational Anthropologist, consultant to Fortune 500 Companies, and author of four best selling business books, includingConversational Intelligence: How Great Leaders Build Trust and Get Extraordinary Results (Bibliomotion, 2013) Visit www.creatingwe.com orwww.conversationalingelligence.com; email jeglaser@creatingwe.com or call 212-307-4386.

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Best Practices Economics Entrepreneurship Management Marketing Personal Development Technology

Tesla is Redefining the Customer Experience

One of the harsh realities of this fast-paced digital world is that almost everything we buy is out of date by the time we get it home. To obtain the most value of any purchase, especially if it is an expensive one, we need to adopt a future mind-set to help us avoid picking up legacy products.

Driving has long been considered a symbol of personal freedom — an open road going forward, with almost limitless possibilities and opportunities on the horizon. For this reason alone, car manufacturers like to add new features that make us feel like we are purchasing a car that is equipped to transport us into the future.

I recently found myself wanting to replace my hybrid SUV. I have been very happy with my Lexus, but before buying, I wanted to see what the other major brands — including BMW, Mercedes, Porsche and Cadillac, to name a few — had to offer, to see which was most suited to me and my lifestyle. As you might guess, since I have been forecasting semi-autonomous as well as fully autonomous car features for decades now, I was interested to see what they had to offer at this point in time.

As you would expect, all of the high-end vehicles had great features, including automatic braking and various systems to alert you if you are about to change lanes and hit another car that is in your blind spot. However, it was when I drove the Tesla Model X that I felt like I was driving in the future. After that test drive, my view of the other brands was changed. All the others instantly felt like the past.

From a customer experience perspective, that’s a powerful shift. Any time you can make the competition seem like they are offering yesterday’s features and functions, and you are offering tomorrow’s, you can accelerate growth well into the future.

Buying a car has always been both a left-brain and a right-brain experience. On one hand, we would love to buy that just-out-of-reach dream car, the one that our emotional, creative side would love to have. On the other hand, our rational, logical, sensible mind wants the car to be safe, economical and not too expensive. Tesla has found a way to do both.

The realization that the Tesla is already offering a wealth of future-oriented features — features that can save lives, features you know we will all have someday — has the power to change how potential customers think.

Tesla, like Amazon, is what I call an Anticipatory Organization, one that identifies the Hard Trends that will happen and then uses that knowledge to turn disruption and change into its biggest advantage.

With all of this in mind, where would the greatest young engineering talent want to work? Ford, General Motors or Tesla? I suspect that Tesla would attract the talent because it is showcasing the future, today.

Rather than sitting around waiting to be disrupted, maybe it’s time to jump on board and disrupt both yourself and your industry, to become the disrupter. We often talk about legacy software and hardware holding businesses back, but the reality is that legacy thinking is far more damaging.

If your company wants to attract the most talented employees as well as the imaginations of future customers, you need to follow Hard Trends and learn to become anticipatory rather than getting better at reacting.

When I returned to the showroom a few weeks ago, it quickly became apparent that Tesla is a prime example of an Anticipatory Organization. The majority of competitors within the automotive industry are still taking incremental steps rather than exponential leaps. The majority have embraced the idea of agility as the best way to turn rapid change into an advantage. The problem they are finding is that all organizations are becoming agile organizations, which greatly decreases the advantage of agility and, more importantly, the main advantage of agility is that you can be far better than your slower competitors. Being agile is very important and we all should get better at it, but it is no longer enough.

It’s true that there is more uncertainty today than ever before. On the flipside of this coin is the science of certainty, learning to separate the Hard Trends that will happen from the Soft Trends that might happen. As the exponential pace of technological change continues, having the ability to foresee growing problems, disruptions, customer demands and new opportunities has never been more important.

Technology now surrounds us. The rapid rise of the internet of things (IoT) in our cities, businesses, infrastructure and even our homes will also raise the bar of both our expectations and demands. As our world continues to evolve, why would the automotive industry remain the same? Why would a dealership stay the same as it always has been? Why would I want to buy a new car that has only a few more new features than the car I’m driving now?

Having a business strategy based on certainty has low risk. Leaders now have a choice to anticipate today, before their competitors do, or find themselves left behind in the slow lane. What are you going to do?

Why deploy customer surveys when technology allows you to collect real-time user experiences? Learn to how an Anticipatory Organization saves money in R&D, marketing and other steps along the way.

Order Daniel Burrus’ book today!

Categories
Best Practices Entrepreneurship Health and Wellness Industries Management

Peloton: The Poster Child of Intentional Customer Attention

Create an Exceptional Customer Experience with Intentional Attention

If you follow me on Instagram, you know I’m obsessed with Peloton. What’s a Peloton, you ask? It’s basically a bike that goes nowhere. It is also a case study in my book, Attention Pays.

John Foley, the CEO, is the brainchild of Peloton, a stationary bike with a tablet attached. But what John will tell you is it’s a technology company, not a fitness company.

They are the poster child for intentional customer attention for many different reasons. John is very attentive to the community which has over 80,000 subscribers on their Facebook group. This active community posts questions about features they’d like, and then, the company incorporates them in the software.

They carefully choose instructors they know will resonate with riders. Their instructors have become so adored, they even have their own cult following. These instructors are like celebrities. Each very different and very talented, attracting a certain kind of customer. Instructors often times have their own Instagram and Facebook pages that riders can follow as well.

Peloton pays attention to their community, which is made up of home-riders. These home-riders use their bike in the basement, their home gym and on their patio while following instructors they love. Riders can choose to ride live recordings or ones previously recorded. They can select from many different scenic rides when the class model isn’t what they desire.

They even created the home rider invasion where riders leave the confines of their home and travel to New York. There, they get to meet their favorite instructors and do classes in the studio. Because their rider community is so strong, meeting each other in the home rider invasion is as much of a perk as meeting the instructors.  I a very loyal customer and any day I’m working from home, I take advantage of my Peloton. I love their instructors! Jennifer Jacobs is definitely one of my most favorites.

Peloton’s business model demonstrates how one leader paid intentional attention to the customer and created a revolution in the fitness industry. Are you ready to do the same in your business?

Categories
Culture Management Marketing Negotiations

Commit to Clients and Customers

Consider the amount of money that goes into acquiring a new customer. Paying sales professionals, product development, marketing, advertising, media, the list is endless. Many of our business costs are associated to attract new customers for the sake of our business growth.

Imagine if companies were to spend as much attention on retaining a customer than they do try to earn a new one. When we show our clients, customers, patients, members and shoppers that we pay attention to their needs, we are not only likely to retain them, we will most certainly create advocates in them as well.

A brilliant book on elevating the customer experience is Never Lose a Customer Again by Joey Coleman, I loved this line in his book ‘it’s time to stop thinking B2B or B2C the future of business is H2H’ (human to human)

Follow these 5 strategies to give professional attention to your clients and show them the love they deserve.

1. Reach out. When was the last time you reached out and personally thanked your clients for being customers? Do you make it habit to routinely remind them of your joy in doing business with them? Consider deepening your relationship with frequent reach-outs. Find out how their business is doing and what you can do to make it better.

2. Examine the experience. Take the time to walk through the same business experience your current customers do. Call your phone number and listen to how you are addressed. Enter your workplace, office or shop as a customer and truly examine the impression being given. Evaluate your website and order your own products. Experience what your customers do when they are doing business with you. You may be surprised what you learn.

3. Know your numbers. Many companies measure their success through profitability, sales and growth. Perhaps consider adding a few extra numbers to the mix. Understand how many new sales come from repeat customers. Recognize your referral rates and most importantly know the churn your company suffers. Set meaningful goals – short and long-term – to retain more customers and improve your new sales from return clients.

4. Motivating Factors. Do you know what motivates your customer to buy from you? Maybe they buy because of price or convenience. Maybe it’s because of location or experience. Do your homework by asking your customers these questions. Know what motivates them to do business with you the first time, and continued business in the future will help you prioritize the areas of opportunity within your business.

5. Be a Partner. When was the last time your bank called you to ask how they can help you better invest your money to plan for a better future? Has your physician ever called to see how you were doing and offered you free literature on the topic you last discussed? This higher level of attention brings a personalized touch to any customer relationship. More so, it creates a partnership with you and your client that benefits their success and well-being as much as it does yours. It’s a win-win anyway you look at it. Partnering with your customer will create mutual trust and respect in the relationship.

Are you ready to pay more attention to your customers? Are you ready to heighten your professional relationships and invest more in their success? Pick up a copy of Joey Coleman’s “How Not to Lose a Customer” and read his strategies for investing time and energy in cultivating long-lasting client relationships.

Want to take your attention a step further? Pick up a copy of  Attention Pays. Learn how attention to employees will benefit your clients and ultimately your bottom line. Understand how evaluating your day-to-day activities can help you carve out time to focus on those who matter most – your customers.

Categories
Best Practices Culture Management Personal Development Sales

The Responsibility is Too High

After making a purchase, it’s common to receive a survey asking about your experience. For the most part, companies are seeking to either, see how they can improve or how the customer feels about their business. It’s your chance to express your opinion. Companies put a lot of weight on surveys which means a lot of responsibility for the customer, so careful thought should be given.

Surveys can be about facilities, logistics, or salespeople. The question you should ask before diving in is… What is this survey pertaining to? There’s something the business wants to know. By understanding what they are evaluating your answers will be helpful.

When it comes to a salesperson’s survey, most customers do not know how to answer them correctly. A survey of the person who worked with you is not the time to complain about the company. The survey is about the salesperson. You would be blaming the wrong person for your unhappiness. Here’s what happens.

The salesperson’s survey is going to his manager. It does not get to the management or ownership of the business. Unfortunately, many businesses will ask questions on the salesperson’s survey about their experience overall, but don’t be fooled. Whatever you answer will affect the salesperson.

If you are upset with how your last visit went, don’t blame the person you are working with now. When you do, you are rating your current salesperson for what happened. Or if you think it took too long for the service department to get your item fixed don’t blame the salesperson. Unless he’s the one fixing your item, he doesn’t have control over the amount of time it took. He also doesn’t have control over how the cashier treated you. Your opinion will not get to those who can do something about it.

Stay on topic. The survey is about the person who helped you, your salesperson. In some cases, they get paid less. If their normal commission is 25%, it can be cut to 15%, because of someone or something outside the salesperson’s control.

Another example would be if your delivery was late or your items didn’t come in on time. It’s not the salesperson’s fault. They weren’t the ones delivering it to you or the one who will go and pick up the item. Don’t blame the salesperson.

Here’s an example I heard from a single mother with two children. She sold a $187.00 chair to a customer, telling him he has to put it together and that the sale was final. The customer stated he would be able to do it.

When the customer took it home, he decided he didn’t like it. The sale was final, but he wanted to return it. After the store told him no, he decided to blame the salesperson stating she lied to him so the store would allow him to return it, which he did. The customer filled out the survey on the salesperson and rated her a zero. On a scale from 1 to 10 a zero is horrific. But, the customer was happy because he was able to bring the chair back.

The outcome for the salesperson was devastating. As expected, she did lose the commission of $3.37. Okay. The score of zero meant she did not get her $1000.00 bonus that month, all because of a customer. Now you see the importance of filling out a survey correctly.

A problem with surveys is you are not given a key explaining what the scores mean. Some scales are from 1 to 5, or 1 to 10. Without understanding the ratings how can you accurately pick a number? There is a practice widely used and that is; if you score anything lower than the highest rating the salesperson fails in the eyes of the company.

You might notice when you take your car in to be serviced the attendant presses you to take the survey and give him a perfect score. What they are telling you is anything lower than the highest number will affect them negatively. They could lose money, privileges, promotion, even their job. If you are upset with how your car was washed, don’t rate the salesperson who didn’t wash the car. Anything on that survey goes against the service attendant.

Here is the company’s view from your survey. Using a system of 1 to 10 for their rating, it’s not uncommon for the scale to represent:

A score of 9 or 10 is good – it helps the salesperson

A score of 7 or 8 doesn’t hurt or help the salesperson

A score of below 7 is like giving the salesperson a zero

My practice is to give the salesperson the highest score. I don’t want the burden of taking food away from a family. If I have something to complain about I write it in the comment space. I handle a problem with a salesperson by making comments on the survey so their manager will see, but I still give them the highest rating.

I take every survey I am given. Most people only fill out a survey when they are unhappy, which means that one bad survey can blow it for a salesperson. It takes fifteen good surveys to outweigh one bad one. If you were happy with your experience, take the survey and help them out.

Receiving a survey is a huge responsibility, so take it seriously. Score it by only addressing the overall topic. If you are unhappy with the situation or the salesperson give them a high rating, putting in the notes what you didn’t like. Your comment will get to the manager of the salesperson who can address it with them. If you are happy with your experience, send in the survey with the highest grading to counteract those who don’t know the significance of the ratings.

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