Execs In The Know- A Global Network of Customer Experience Professionals

Tag Archives: CXMB Series

CXMB Industry Insights: Financial Services – Select Findings [INFOGRAPHIC]

Together with research partner COPC Inc., and report sponsor VXI Global Solutions, we are excited to share with you the latest installment of our CXMB Industry Insights series. CXMB Industry Insights: Financial Services marks the third release in the series, following reports focused on travel and hospitality and retail.

The report is aimed at providing insights into consumer opinions and behaviors, specific to the financial services industry. Topics in this report include customer care experiences, channel use, customer effort, quality of care, privacy, and a comparison on U.S. and Canadian customers.

The infographic below highlights a few key findings, but you can also download the full complimentary report here. 

COPC Inc. and Execs In The Know Publish Customer Experience Research for Financial Services

Nearly 57% of surveyed customers reported moving some or all of their business as a result of a poor customer care experience

WINTER PARK, FL — (May 22, 2018) — COPC Inc., a global consulting firm that helps companies improve operations to transform the customer experience, together with Execs In The Know, a global network of customer experience professionals, announce the results from their first financial services industry survey, CXMB Industry Insights: Financial Services. This report was sponsored by VXI Global, a customer care, sales and technical support services company. A key research finding is that nearly 57% of surveyed customers reported moving some or all of their business as a result of a poor customer care experience with a financial institution. When asked what could be done differently, customers referred to ease of use, accountability, and access to a live person. To learn more about this and other findings, download the complimentary report.

CXMB Industry Insights: Financial Services provides research about consumer opinions and behaviors specific to the financial services industry in the United States and Canada. The survey confirmed that customer expectations are rapidly changing and that financial institutions need to focus not just on technology solutions but rethink the entire customer interaction—from the customer’s perspective. Continue reading

Execs In The Know & COPC Inc. Publish 2017 Corporate Edition in Customer Experience Management Benchmark Series

Findings Show That Only About One-Third of Respondents Felt Their Company Offered Support in All The Channels Their Customers Want to Use — A Slight Increase Over 2016 Results.

PHOENIX, ARIZONA – April 3, 2018 – Advocates for customer experience professionals, Execs In The Know and COPC Inc., have announced the release of the 2017 Corporate Edition of the Customer Experience Management Benchmark (CXMB) Series. The 11th volume in the series, titled The CX Journey: Strategic and Operational Insights, provides an understanding of the current CX landscape. Specific areas of expanded exploration include channel consistency, quality programs, and CX priorities for corporate professionals. Traditional Care (phone, email, and in-person), Interactive Care (online/video chat, FAQ, and self-help), Social Media Care (Twitter, Facebook, forums, etc.), and Mobile Care (apps, text/SMS, and mobile chat) are all explored.

Key Insights from the 2017 Corporate Survey:

– Only 50% of respondents answered “Yes” when asked, “Is your company’s leadership fully committed to a customer-first strategy?”

– Thirty-four percent of respondents didn’t believe their company had a good understanding of which channels their customers preferred, nor how these preferences differed from current channel offerings.

– Interest and investment in chatbots and artificial intelligence (AI) exploded in 2017, with more than a threefold increase in the percentage of brands naming chatbots and AI as the technology of most interest and/or investment.

– Only 14% of respondents felt their brands were doing a good job of providing a consistent customer experience across channels and solutions, while only half of brands (51%) had any initiatives to create greater consistency.

The CXMB Series is a resource for customer care professionals, looking to enhance their customer care program, improve brand opinion, and drive customer satisfaction. Brands such as Marriott, Blue Rock Energy, The Mine, The Home Depot, LinkedIn, Hyatt, Desjardins, CIBC, Williams-Sonoma, Inc., and more participated in this year’s survey. Continue reading

Top 10 Best Things About CRS Charleston

Charleston was our most successful Customer Response Summit yet, and we’ll be pondering the ideas it sparked and reliving the memories we created for a long time to come. Narrowing it down to just 10 was tough, but here’s our take on the top highlights of the event.

10. The 5 Minutes of Brilliance Presentations

These bite-sized presentations were so beloved, many attendees asked for more at future events (we’re working on it!).

Andy Yasutake of LinkedIn and Mark Killick of Grubhub did an excellent job of breaking down their respective topics—Andy spoke about how LinkedIn worked on customer service request surges, and Mark spoke about using business intelligence to improve operations. We’re still thinking about their talks.

9. The Case Studies

One thing we’ve heard again and again is that our community craves presentations on what real companies do to move the customer service needle. At CRS Charleston, there were many breakout sessions to choose from. The topics represented leaned to digital and AI concerns, but they were varied enough to make the sessions useful to everyone:

  • -BOTs, Speech, and Humans – Seamlessly Balanced
  • -CX Measurement for the Ever-Connected Customer
  • -Are You Ready? This is the Year of Consumer Messaging & Bots
  • -Scaling True to Yourself
  • -The Future of Customer Service is Here. Are you Ready?
  • -Expanding Customer Conversations Over Digital Channels
  • -University of Pittsburgh Medical Center Health Plan Delivers A High Touch, High Tech Customer Experience

8. The “Networking” Event

There’s no better way to make new connections than at our social events. The evening at Prohibition combined a 1920s-themed party with networking. Friendships and business relationships were formed—or cemented—by the night’s end.

7. The CXMB 2017 Corporate Edition Results

Every CRS Charleston attendee received a copy of the full report in their welcome packet, and COPC Inc.’s Judi Brenstein, Balsam Brands’ Caroline Tuan, Sweetwater Sound’s Salena Scardina, and Grubhub’s Mark Killick explored the real-world implications of the CXMB 2017 Corporate Edition.

Here are some highlights:

  • -82% of corporate leaders feel their organization meets the customer service needs of its customers, while only 40% of consumers do
  • -Just 61% of executives believe their company offers support in all the channels their customers want to use
  • -Metrics CX senior leaders are using to measure success include CSAT (77%). NPS (67%), Customer Effort (28%), and Other (10%)

Continue reading

Execs In The Know & COPC Inc. Release 2017 Consumer Edition in Customer Experience Management Benchmark Series

Findings Show That After Two Consecutive Years of Solid Improvements, Consumer Opinion Toward Customer Care’s Ability to Meet Needs and Expectations has Flattened

PHOENIX, ARIZONA – November 16, 2017 – Global leaders in the customer experience industry, Execs In The Know and COPC Inc., have announced the release of the 2017 Consumer Edition of the Customer Experience Management Benchmark (CXMB) Series. The report provides compelling insights into key areas of consumer expectations, opinions and perceptions in using multiple channels for customer care. Traditional Care (phone, email, and in-person), Interactive Care (online/video chat, FAQ, and self-help), Social  Media Care (Twitter, Facebook, forums, etc.), and Mobile Care (apps, text/SMS, and mobile chat) are all explored.

Key Insights from the 2017 Consumer Survey:

– After two consecutive years of solid improvements, consumer opinion toward customer care’s ability to meet needs and expectations has flattened

– With results going back to 2014, 2017 saw the lowest percentage of consumers avoiding interacting with customer care

– Whether or not consumers self-select the multi-channel approach (as opposed to being forced into it) continues to have a profound impact on resolution and satisfaction rates for multichannel engagements

– In-Person Shoppers place far more value on good customer service than Online Shoppers

The Consumer Edition of the CXMB series is a resource for customer care professionals, looking to enhance their customer care program, improve brand opinion, and drive customer satisfaction. The 2017 Consumer Edition is the fifth consecutive year of reporting on findings of U.S. consumers, in all age groups and geographic regions. The survey findings provide both an overview of the entire customer care experience and insights regarding specific channels, as well as two new sections about the purchase experience and customer effort.

“The 2017 Consumer Edition of the CXMB Series is our most comprehensive to date,” said Chad McDaniel, President and CEO of Execs In The Know. “With every CXMB Series edition we continue to expand questions and sections that are important to today’s CX Professional, in addition to comparing data over the years to identify trends and patterns. Our community find the reports highly valuable and love using these insights to benchmark, learn, and plan their future approach.”

The full 2017 Consumer Edition is available at https://www.execsintheknow.com/cxmbseries/2017-consumer-edition/. Continue reading

COPC Inc. and Execs In The Know Publish Retail Customer Experience Research Insights

WINTER PARK, FL — (May 24, 2017) — COPC Inc., a global consulting firm that helps companies improve operations to transform the customer experience, together with Execs In The Know, a global network of customer experience professionals, announce the results from their first retail industry survey, CXMB Industry Insights: Retail. This retail report was sponsored by Gladly, the customer service platform for the 21st century consumer. A key research finding is that almost half of both online and in-store shoppers think retail brands should focus improvement efforts on the customer care experience instead of other types of experiences, such as the shopping or purchase experience. To learn more about this and other findings, download the complimentary report.

CXMB Industry Insights: Retail is aimed at providing insights into consumer opinions and behaviors, specific to the retail industry. Topics in this report include comparisons between online and in-store shoppers in the areas of pre-purchase research, shopping, customer care, drivers of mobile device shoppers, and the multi-channel experience.

Findings reveal differences and similarities between online and in-store shoppers when it comes to the customer journey. Among the most popular methods of issue resolution — in-person, phone and email — online shoppers prefer to resolve issues via email, while in-store shoppers strongly prefer to resolve issues in person. However, both groups had low preference for self-serve solutions, including self-help and automated tools.

Additionally, responses between online and in-store shoppers are strikingly consistent when respondents describe what is most important to them when interacting with a retailer to resolve an issue. Customers want agents who provide clear communication, listen patiently, understand the issue, express empathy, and are empowered to break away from the script to get issues resolved. More information can be found on this infographic.  

Survey Insights:

– In the event of a customer care issue, 68 percent of online shoppers and 75 percent of in-store shoppers would rather interact with a human versus a self-help system to resolve the issue.

– Among consumers who frequently shop from their mobile device, 44 percent would choose email as their preferred communication method with a brand compared to just six percent who would choose a phone call as their preferred communication method.

– Thirty-five percent of survey respondents think retail companies do a better job of providing a positive customer experience compared to other industries.

“We know retail brands have a huge opportunity to differentiate themselves by providing an exceptional customer experience. We conducted this survey to show real customer needs and to provide actionable data that all retailers should consider to improve customer satisfaction and increase loyalty,” said Kathleen Jezierski, chief operating officer, COPC Inc.

CXMB Industry Insights: Retail is the second in a series of industry-specific reports and is an extension of the Customer Experience Management Benchmark (CXMB) Series, also published in partnership between COPC Inc. and Execs In The Know. The first industry-specific report examined travel and hospitality and is available here.

“CXMB Industry Insights allows us to dive deeper into various industries and provide relevant insights that our community members in each vertical are seeking,” said Chad McDaniel, president, Execs In The Know. “Our retail survey offers information about consumer perceptions, expectations and behaviors so that our community can have a better understanding of the customer landscape in online and brick-and-mortar retail.”

For more information about the findings of this retail research or the CXMB Industry Insights survey series, contact Judi Brenstein, vice president, COPC Inc., at jbrenstein@copc.com.

 About COPC Inc.

COPC Inc. is an innovative global leader that empowers organizations to manage complex customer journeys.  The company created the COPC Customer Experience (CX) Standard and provides consulting, training and certification for operations that support the customer experience. Founded in 1996, COPC Inc. began by helping call centers improve their performance.  Today, the company works with leading brands worldwide to optimize key customer touchpoints and deliver a seamless experience across channels. COPC Inc. is privately held with headquarters in Winter Park, FL, U.S. and has operations in Europe, Middle East, Africa, Asia Pacific, Latin America, India and Japan. To learn more about COPC Inc., visit www.copc.com.

About Execs In The Know

For over 15 years, Execs In The Know has built a reputation of excellence in the Customer Management Industry and a worldwide community of over 50,000 Customer Experience Professionals. Execs In The Know connects people to engaging industry content, thought leadership, current trends, peer-to-peer collaboration, networking and industry employment opportunities. Examples of this can be seen at their Customer Response Summit events, roadshows, webinars, workshops, Blog Talk Radio segments, Industry Benchmarking Series, blogs, thought papers and social communities. For more information, visit www.execsintheknow.com.

CXMB Industry Insights: Travel & Hospitality Survey Results [INFOGRAPHIC]

travel-survey-infographic-nov-2016-final

To hear further discussion about CXMB Industry Insights: Travel and Hospitality, join Execs In The Know, COPC Inc. and guest speakers from Choice Hotels and Marriott International next Tuesday, December 6, at 1 p.m. ET for a webinar. To register, visit http://ow.ly/iGaO306Bmsy.

Execs In The Know and COPC Inc. to Host 2016 CXMB Series Workshop in Toronto

Leaders Learning From Leaders in Exclusive, One-Day Event Focused on Customer Journey Insights

PHOENIX, AZ. October 24, 2016 – Following the recent release of the 2016 Customer Experience Management Benchmark (CXMB) Series Consumer Edition, Execs In The Know and COPC Inc. are headed to Toronto, Canada on November 29th for a CXMB Series Workshop. This exclusive, one-day event presents an excellent opportunity for customer experience professionals to gather and share their challenges, successes and insights, while also making lasting connections in their local area.

As with past CXMB Series Workshop events, great attention will be paid to the results of the 2016 CXMB Series Consumer Edition, which focuses on customer journey insights from the consumer’s perspective. The Consumer Edition of the CXMB Series brings a host of new content in 2016, while a number of topics from last year’s report are clarified and expanded further, including the consumer’s preference for live interactions over automated ones and the consumer’s perception of the multi-channel journey.

This year’s Consumer Edition report also features two new sections: The Millennial Consumer and The Alternative Channel Customer Journey.

A few highlights from the findings:

– While much work remains to be done, there was a measurable improvement in the consumer’s overall impression of the customer care they received in 2016

– While the preference for Traditional Care remains strong, there was a slight pullback in 2016

– Consumer preference for human assistance over automated/self-help systems remains strong

If you’re interested in attending this event, visit the CXMB Series Workshop section of the Execs In The Know website at execsintheknow.com/events/cxmb-workshop, or contact Chad McDaniel via email or phone at chad@execsintheknow.com or 623.234.2843.

If you can’t attend the event, but are interested in obtaining the CXMB Series 2016 Consumer Report, visit execsintheknow.com/cxmbseries/2016-consumer-edition/.

About Execs In The Know

For over 15 years, Execs In The Know has built a reputation of excellence in the Customer Management Industry and a worldwide community of over 50,000 Customer Experience Professionals. Execs In The Know connects people to engaging industry content, thought leadership, current trends, peer-to-peer collaboration, networking, and industry employment opportunities. Examples of this can be seen at their Customer Response Summit events, roadshows, webinars, workshops, Blog Talk Radio segments, Industry Benchmarking Series, blogs, thought papers, and social communities.

To learn more about Execs In The Know, visit www.execsintheknow.com. For more information on their Customer Management Recruitment Solutions, visit www.justcareers.com.

 About COPC Inc.

COPC Inc. is an innovative global leader that empowers organizations to manage complex customer journeys.  The company created the COPC Customer Experience (CX) Standard and provides consulting, training and certification for operations that support the customer experience. Founded in 1996, COPC Inc. began by helping call centers improve their performance.  Today, the company works with leading brands worldwide to optimize key customer touchpoints and deliver a seamless experience across channels. COPC Inc. is privately held with headquarters in Winter Park, FL, U.S. and has operations in Europe, Middle East, Africa, Asia Pacific, Latin America, India and Japan.

For more information, please visit www.copc.com.

Media Contact

Alyssa Pitura
Director of Marketing and Brand Experience
info@execsintheknow.com
www.execsintheknow.com
@ExecsInTheKnow

Get Your Chat Fitness On

Chat Analytics Webinar Deck_MASTER

The following is a guest blog from Leslie Joseph, Senior Director, Product Marketing at [24]7. For more information about [24]7, visit http://www.247-inc.com/.

When was the last time you asked yourself “How can I improve the performance of my chat program?” No matter how optimized your chat program is, there is always room for improvement. As with any fitness program, simply following generic rules will only get you half way there. A customized workout for your chat is necessary to get the highest gains in performance. So how does one find the right routines, tools, and methods for getting chat-fit? The answer to all of these questions is in your data. It’s not just about what data you use, but how you use the data to make the biggest improvements.

Data is key. You don’t need to be a 1000-agent chat program before you start thinking about data. In fact, chances are, if you start thinking about data only after hitting a 1000, or even just 100, you probably have some catching-up to do. Smart execs can optimize even a fledgling chat program based on insights that can be gleaned from mashing up chat logs and reports with web data. But that’s just scratching the surface. Once you’re ready, chat transcript mining is the next frontier. Chat transcripts are a goldmine, rich with nuggets of insight that the performance-focused exec can arm to implement actions on the floor that enhance not just the efficiency, but also the effectiveness of agents. Chat mining is also a way to unlock other insights into customer sentiment and issue drivers that can lead to lower out-of-scopes, better customer engagement, smarter targeting, reduced costs and improved customer satisfaction. These insights, either on their own or paired with predictive models, can trim and tone your chat program to top efficiency.

But it doesn’t end there. The most important part is getting started. Once you start building momentum and making traction, you will soon realize that data-driven improvements will put even the best performance enhancing drugs to shame.

Join me on July 19, 2016 at 1:00 P.M. EDT as I discuss how some of the most successful companies use data and analytics to turn their chat channel into lean, mean performance machines. Register today!