The MHEDA Journal - Second Quarter, 2016 - (Page 57)
Creating Great Customer Experiences:
Why, How, and Why Now?
BY LYNN DANIEL, THE DANIEL GROUP
n the past 10 years - judging by the number of Google hits -
interest in "customer experience" has doubled. Searching for
this term now returns 350+ million hits. We certainly hear
more managers talking about it. Why the surge of interest?
And how can you do something about it?
What is the
The customer experience is the customer's view of all the interactions they've
had with your company. This includes
everything from the instant they first considered buying to the last time they called
in for service.
It is not another name for "customer
service," which covers part but not all of
the total customer experience, i.e. postsale customer support. And don't confuse
it with "customer satisfaction" or "customer loyalty." These are the outcomes
of the customer experience.
Why Invest to Improve the
More referrals. Our research showed
that 35% to 40% of customers gave a
referral in the past six months. Over
90% of these came from customers that
expressed the highest satisfaction with
their experience. And every referral from
a satisfied customer is extremely valuable.
More favorable word of mouth.
Research shows that 2 out of 3 customers
will likely talk about a negative service
experience, while only 1 in 3 talk about a
negative experience with a product. This
shows that getting the service experience
right is essential.
cost savings. One client researched the
impact of customer service on metrics
like billing adjustments, good will, and
so on. They discovered they could add
more than $1 million to their bottom line
by improving their customer service.
Product differentiation is increasingly short-lived given the accelerating pace of innovation. To sustain a
competitive edge for the long haul,
dealers must deliver consistently
excellent sales and service experiences. Over time, this will help you
build a brand that can weather the
ups and downs of your products' competitive positions. Now more than
ever, you're in the customer experience business!
As consolidation continues in the
material-handling industry, don't be
tempted to take your eye off your customers. Any merger or acquisition
tends to pull your attention inward.
This is a real danger for managers trying to stitch the operations and people
of multiple companies together. Don't
give competitors any opening, even
during a major transition.
Where to Begin?
To improve your customer experience, it's important to know where
you stand today. Since the customer
experience is the customer's view of
your company, you need to ask them
for feedback. You can't get at this by
looking at your operating metrics; you
need to survey your customers.
The first question is whether to
outsource your surveying or do it
The MHEDA Journal | Second Quar ter 2 016
Table of Contents for the Digital Edition of The MHEDA Journal - Second Quarter, 2016
From the Desk of Liz Richards
Ask Your Board
MHEDA University Calendar
MHEDA Member Profile
Teamwork and Personal Accountability
Exhibitors' Showcase Product Guide and Floor Plan
Six C-Level Cyber Blunders (And Solutions)
What to Look Forward to in 2016
How to Build a sense of Community for Your Business
Women Mean Business
What's Your Exit Strategy?
Creating Great Customer Experiences: Why, How and Why Now?
Turning Near Misses into a Winning Safety Environment
Too Much of a Good Thing
Matuson's Sixteen Workplace Predictions for 2016
Spotlight on Association News
Index of Advertisers by Product Category
The Last Word
The MHEDA Journal - Second Quarter, 2016