Finding the Performance Payoff in Customer Experience - Lessons from Leaders
Aveus, July 2008, Pages: 83
This new report examines the role of customer experience in organizations today, looking in depth at the link between its use and a firm's performance. It analyzes the profile of organizations that have a commonly understood definition of customer experience versus those who do not, calling out the revenue, profit, acquisition and retention performance within each group. We profile the characteristics of winning organizations and leaders, and reveal clear insights into the specific things they do better than both average performers and those who fall short of both growth and profit targets.
The various definitions of customer experience used, performance on specific retention and acquisition tactics, as well as the perceptions by leader-respondents by leadership level, functional group and industry are all examined.
The report is based on a web survey of 644 leaders across industries and organization types. It includes 58 exhibits and a crisp set of implications for readers based on the profile and actions of top performers.
By examining the use of customer experience and its link to financial and customer performance, you can make the operating decisions that hold the strongest potential for performance payoff in your organization.
Is customer experience the missing link to creating success and profitability? This new report examines the role of customer experience in organizations today, looking in depth at the link between its use and a firm's performance. It analyzes the profile of organizations that have a commonly understood definition of customer experience versus those who do not, calling out the revenue, profit, acquisition and retention performance within each group. We profile the characteristics of winning organizations and leaders, and reveal clear insights into the specific things they do better than both average performers and those who fall short of both growth and profit targets.
The various definitions of customer experience used, performance on specific retention and acquisition tactics, as well as the perceptions by leader-respondents by leadership level, functional group and industry are all examined. By examining the use of customer experience and its link to financial and customer performance, you can make the operating decisions that hold the strongest potential for performance payoff in your organization."
Background & purpose
Methodology
Executive summary
Key findings
Detailed findings
- A growing understanding of customer experience
- Demographic profiles of Haves and Have Nots
- Definitions and justifications for customer experience
- Revenue and profit performance of “Haves” and “Have Nots”
- Acquisition and retention performance of “Haves” and “Have Nots”
- Aims vs. outcomes: chosen result metrics and performance
- Daily decisions define best of the best performers
- What leaders do: lessons in the tactics
Implications
Tables & charts
- Respondent demographics
- Customer experience definition & use
- Overall performance measures
- Prospecting efforts & results
- Customer retention & growth efforts & results
Index of charts and tables
Exhibit 1
‘Haves’ vs. ‘Have Nots’
Pg. 8
Is there a definition of customer experience that is well understood across your organization?
Exhibit 2
Industry Type
Pg. 9
Please indicate your organization's Primary Industry Type.
Exhibit 3
Life Cycle Stage
Pg. 11
Which one of the following would best characterize your company on its lifecycle?
Exhibit 4
Market Focus
Pg. 11
Please indicate your organization's primary market focus.
Exhibit 5
Functional Area
Pg. 12
Which one of the following best describes the functional area of your company or organization in which you work?
Exhibit 6
Decision Level
Pg. 13
Please indicate your role at your company or organization.
Exhibit 7
Impact of Common Definitions
Pg. 15
If your organization were to use one of the following definitions of Customer Experience, what one of these definitions do you think would make the greatest positive impact on your organization's performance?
Exhibit 8
Why Not Now?
Pg. 18
Which of the following describe why Customer Experience is not important to your organization at this time? Select all that apply.
Exhibit 9
Revenue Performance
Pg. 20
Please think about your organization's performance year to date in terms of revenue growth. Would you say that your organization is....
Exhibit 10
Profit Performance
Pg. 20
Please think about your organization's performance year to date in terms of profitability growth. Would you say that your organization is...
Exhibit 11
Performance Gap by Industry
Pg. 22
Please think about your organization's performance year to date in terms of revenue/profitability growth. BY INDUSTRY: Please indicate your organization's Primary Industry Type.
Exhibit 12
Prospecting Performance by ‘Haves’ and ‘Have Nots’
Pg. 23
Compared to your prospecting targets, would you say that your organization's prospecting results have... BY HAVES/HAVE NOTS: Is there a definition of customer experience that is well understood across your organization?
Exhibit 13
Retention and Growth Performance by 'Haves'
and 'Have Nots'
Pg. 23
Compared to your organization's targets, would you say that your organization's customer retention and growth programs have ... BY HAVES/HAVE NOTS: Is there a definition of customer experience that is well understood across your organization?
Exhibit 14
Primary Outcome Measures
Pg. 25
Which one of the following best describes the most important way your organization measures or demonstrates its success? BY HAVES/HAVE NOTS: Is there a definition of customer experience that is well understood across your organization?
Exhibit 15
Alternative Focus and Results for Have Nots
Pg. 28
Which of the following describe why Customer Experience is not important to your organization at this time? Select all that apply.
Exhibit 16
Role of Customer Experience in Decision Making
Pg. 29
Earlier, you told us that your organization points to [Pipe Values] to demonstrate its success. To what extent does Customer Experience play a role in the way that you reach this success? In other words, to what degree does Customer Experience factor into the decisions made across your organization every day? Please use the following 0 to 10 scale. BY HAVES/HAVE NOTS: Is there a definition of customer experience that is well understood across your organization?
Exhibit 17:
Industry Prevalence of ‘Strong Haves’
Pg. 30
IF a Have (Q16) and IF a 10 (Q18C) BY Industry (Q8)
Exhibit 18
Revenue Performance
Pg. 32
Please think about your organization's performance year to date in terms of revenue growth. BY (Q18C) Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 19
Profitability Performance
Pg. 32
Please think about your organization's performance year to date in terms of profitability growth. BY (Q18C) Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 20
Use among Top Financial Performers
Pg. 35
IF “Exceeding Targets” for Revenue Performance (Q11A) and Profitability Performance (Q11B) BY Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 21
Different Tactics Used to Win New Customers
Pg. 39
How would you rate your organization on the following actions taken to win new customers or prospects? BY (Q16) Haves/Have Nots and Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 22
Different Tactics Used to Retain Customers
Pg. 40
How would you rate your organization on the following actions taken to
retain customers and grow customer relationships? BY (Q16) Haves/Have Nots and Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 23
Use Among Top Tactical Performers
Pg. 41
IF “Exceeding Targets” for Acquisition Efforts (Q22) and Retention Efforts (Q28) BY Exhibit 16: Role of Customer Experience in Decision Making
Exhibit 24
Company Role
Pg. 45
Please indicate your role at your company or organization.
Exhibit 25
Functional Area
Pg. 45
Which one of the following best describes the functional area of your company or organization in which you work?
Exhibit 26
Industry
Pg. 46
Please indicate your organization's Primary Industry Type.
Exhibit 27
Market Focus
Pg. 46
Please indicate your organization's primary market focus.
Exhibit 28
Years in Business
Pg. 47
Please indicate the number of years your organization has been in business.
Exhibit 29
Life Cycle stage
Pg. 47
Which one of the following would best characterize your company on its lifecycle?
Exhibit 30
Gender
Pg. 48
Do you identify as male or female?
Exhibit 31
Number of Employees
Pg. 48
Exhibit 32
Company Revenue
Pg. 49
Exhibit 33
Whether CE Definition Exists
Pg. 50
Is there a definition of customer experience that is well understood across your organization?
Exhibit 34
Number of Years Using Customer Experience
Pg. 50
For about how many years has your organization had an understanding or use of Customer Experience across your organization?
Exhibit 35
Familiar Customer Experience Definitions & Perceived Most Useful Customer Experience Definition
Pg. 51
Shown below are definitions of Customer Experience that have been used by various organizations or written about in the media. Which one of these definitions is most familiar to you? Customer Experience is...
If your organization were to use one of the following definitions of Customer Experience, what one of these definitions do you think would make the greatest positive impact on your organization's performance?
Exhibit 36
Degree Customer Experience Used for Decision Making
Pg. 52
To what extent does Customer Experience play a role in the way that you reach this success? In other words, to what degree does Customer Experience factor into the decisions made across your organization every day? Please use the following 0 to 10 scale.
Exhibit 37
Customer Experience in Daily Decision Making
Pg. 53
HAVES VS. HAVE NOTS To what extent does Customer Experience play a role in the way that you reach this success? In other words, to what degree does Customer Experience factor into the decisions made across your organization every day? Please use the following 0 to 10 scale.
Exhibit 38
Most Important Measurement of Success
Pg. 54
Which one of the following best describes the most important way your organization measures or demonstrates its success?
Exhibit 39
Reasons Customer Experience is NOT a Decision Driver
Pg. 55
Earlier, you mentioned that there is a definition of Customer Experience that is well understood across your organization. You also told us that Customer Experience is not how your organization measures or demonstrates its success. Why is this happening? Select all that apply.
Exhibit 40
Primary Responsibility for Defining Customer Experience
Pg. 56
In your organization, who has the overall primary responsibility for defining customer experience objectives and strategies?
Exhibit 41
Important Factors to Meet Customer Experience Objectives
Pg. 57
Please think about how your organization moves people, things or ideas from the moment a customer "order" or demand is generated until you put cash in the bank. Which two of the following are most important in helping your organization to meet your Customer Experience objectives?
Exhibit 42
Roadblocks to Having a Customer Experience Definition
Pg. 58
Which of the following describe why Customer Experience is not important to your organization at this time? Select all that apply.
Exhibit 43
Customer Experience Definitions from Have Organizations
Pg. 59
Please provide your organization's customer experience definition below.
Exhibit 44
Revenue Growth
Pg. 60
Please think about your organization's performance year to date in terms of revenue growth. Would you say that your organization is....
Exhibit 45
Profitability Growth
Pg. 60
Please think about your organization's performance year to date in terms of profitability growth. Would you say that your organization is....
Exhibit 46
Satisfaction with Prospecting Efforts
Pg. 61
Thinking about the number of new customers or clients that your organization has brought in over the past 12 months, would you say that you're......
Exhibit 47
Satisfaction with Prospecting Performance
Pg. 62
From your perspective, on a scale of 1 to 5 with 1 being "Completely disagree" and 5 being "Completely agree," how would you rate your organization on the following actions taken to win new customers or prospects?
Exhibit 48
Performance on Key Prospecting Actions
Pg. 63
Now, think about what happens and how your prospects feel from their perspective. From your prospects' perspective, how much would they agree or disagree with the following statements?
Exhibit 49
From Customers’ Perspective: Performance on Key Prospecting Actions
Pg. 65
HAVES VS. HAVE NOTS Now, think about what happens and how your prospects feel from their perspective. From your prospects' perspective, how much would they agree or disagree with the following statements?
Exhibit 50
One Action That Would Provide Greatest Leap in Winning Customers
Pg. 67
From your perspective, which one of these actions, if changed, would give you the greatest leap in winning new customers?
Exhibit 51
Satisfaction with Customer
Retention & Growth Efforts
Pg. 69
Thinking about the amount of customer retention and growth that your organization has experienced over the past 12 months, would you say that you're.....
Exhibit 52
Customer Retention & Growth
Results
Pg. 69
Compared to your organization's targets, would you say that your organization's customer retention and growth programs have .....
Exhibit 53
Performance on Key Retention & Growth Actions
Pg. 70
From your perspective, on a scale of 1 to 5 with 1 being "Completely disagree" and 5 being "Completely agree," how would you rate your organization on the following actions taken to retain customers and grow customer relationships?
Exhibit 54
From Customers’ Perspective: Performance on Key Retention & Growth Actions
Pg. 72
Now, think about what happens and how your existing customers feel from their perspective. From your customers' perspective, how much would they agree or disagree with the following statements?
Exhibit 55
One Action That Would Provide Greatest Leap in Retaining & Growing Customers
Pg. 74
From your perspective, which one of these actions, if changed, would give you the greatest leap in retaining and growing customer relationships?
Exhibit 56
Ability to Differentiate from Customer View
Pg. 76
Overall, our customers view us as:
Exhibit 57
Have & Use Buckets by Industry
Pg. 77
Is there a definition of customer experience that is well understood across your organization? AND
To what extent does Customer Experience play a role in the way that you reach this success? In other words, to what degree does Customer Experience factor into the decisions made across your organization every day? Please use the following 0 to 10 scale. BY
Please indicate your organization's Primary Industry Type.
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