THE STATE OF
THE ECONOMICS OF CX ARE COMPELLING
CX leaders have more loyal customers
than CX laggards:
How consumers change their spending after
$370
MILLION
Average amount of
revenue generated
by a modest
improvement in
customer
experience over
three years for a $1
billion firm.
17.5%
More customers who
are likely to buy
more from them.
13.3% 21 Points
62%
2%
having a bad experience...
creas
crea
29%
21%
customers who
are likely to
forgive them if they
have a mistake
higher Net
Promoter@
e
Every company makes mistakes, but good CX can savej
the day.
HOUJ compM11Es RESPOflD RFTER R 8RD EHPERIEIICE
Companies have strong :
CX EXCELLENCE IS RARE, BUT IT'S IMPROVING
Companies with "good" or "excellent" ratings :
Temkin Experience
CX ambitions
0/
o
: Ratings
: evaluates more than :
250 companies across
19 industries based on
feedback from 10,000 :
' U.S. consumers.
has grown from
O
in 2011
Excellent
2014
2011
to 37% in 2014
Good 0th
Rate themselves Have goals to be
as CX leaders CX leaders in
today
3 years
15 OUT
OF 19
industries increased their
Temkin Experience Ratings
between 2013 and 2014
FIRMS ARE STILL IN EARLY STAGES OF THEIR CX JOURNEYS
Temkin Group's
CX Maturity:
Assessment
More than 200 •
companies with •
revenues of $500
X Ignore
million or more
completed
Align u Embed
CX SUCCESS REQUIRES MORE THAN SUPERFICIAL CHANGES
FOUR CX CORE COMPETENCIES •
only
large
companies
have reached
the top two
stages Of CX
management
maturity.
Tough
Companies that want to build sustainable
need to move their CX efforts from
Fluff
TO
Fluff
Tough
Fluff
Purposeful
00 your leaders operate
consistently with a clear
: well-articulated set o!
: values?
Customer
Connectedness : :
: Is customer feedback
• and insight integrated :
throughout your
organization?
Compelling :
Brand
Values
Purposeful Leadership:
Executives embody
Executives support
and reinforce
and endorse CX
customer-
efforts
centric values
: Compelling Brand Values:
Brand platform Employees understand
includes
the link between
clear customer
their efforts
and brand promises
promises
Employee Engagement:
Are your brand attributes
: : driving decisions about •
i: how you treat
• customers?
Engagement:
Are employee
Employees engag
as needed to
support initiatives
Employee
engagement
embedded in HR
practices
Customer Connectedness:
Closed-loop
voc
program
committed to the
goals Of your
organization?
Making Superficial
Changes
Creating customer-centric
culture & operations
Ongoing insights
from integration
between customer
feedback. CRM.
and operational
data
DID YOU KNOW THAT?
There are more than
100,000 cx
professionals in
North America
and 98% agree
with the statement,
"customer
experience IS a
great profession
to be in."
Sources (Temkin Group research):
ROI Of Experience, 2014
The State of CX Management. 2014
2014 Temkin Experience Ratings
The Emnomics of Net Promoter Scores
Employee Engagement Bench mark Study, 2014
What happens After A GOrxd Bad Experience, 2014
Compared with unengaged employees, •
highly engaged employees are...
3X more 5X more:
likely
to make a
recommendation about i
an improvement at the
company
likely .
to recommend that
someone apply for a
job at their
company
2.5x n
Companies with superior
customer experience have
almost 2.5 as many engaged
employees as do companies
that lag in customer
expenence.
Net Promoter Score. Net Promoter, and NPS are registered trademarks Of
Bain & Company. Satmetrix Systems. and Fred Reichheld
For more information, Visit the
Customer Experience Matterso blog at
ExperienceMatters wordpress.com
www.temkingroup.com
Copynght@ 2014 Temkin Group
After a very bad
experience, 32% of
U.S. consumers gave
feedback directly to a
company, 20% wrote
about it on Facebook,
and 32% posted on
Twitter.
•GROUP,
When
customersthatstick.com