Strategy
Many businesses don’t have real signature points in their customer experience, which are the most important drivers of Net Promoter Scores. People aren’t going to refer your business to anyone if there is not a unique and memorable element to talk about.
Recently I was speaking at the national Association of Strategic Planning conference on the topic of customer experience and brand integrity. One question came up about how customer experience relates to the Net Promoter Score (NPS). It was a great question and for those who subscribe to NPS as a key performance metric, here is a post that describes how to improve that score and the business results it implies through Customer Experience and specifically Signature Points.
The beauty of tracking your Net Promoter Score is that it is entirely customer focused and it is simple. That’s powerful. NPS measures just one question, “how likely is it that you would recommend our company to a friend or colleague?” This is a simple question for customers to answer. The tougher question that managers then face about NPS is, “how can I improve my NPS score?” That is not a simple question. You can’t directly manage each customer’s answers to the NPS question, but you can manage the ‘customer experience’ you deliver every day. If you are working hard to improve your NPS score, here are some tips on how to simplify delivering breakthroughs in your customer experience that can give you significant jumps in your NPS score.
Three Steps to Improve NPS (more…)
While everyone is talking about the need for innovation to serve as the growth catalyst for U.S. businesses, job growth and the economy overall, a group of leaders in the Tri-Valley region is taking action.Last week, the Innovation Tri-Valley initiative (ITV) was launched at a gathering of over 300 regional business, educational, civic and political leaders (news story and press release).
Marty Beard, the key executive leading the Innovation Tri-Valley effort and President of Sybase 365, a subsidiary of Sybase, In., recently explained that, “What we are doing in the Tri-Valley may very well be defining a new model for regions around the U.S. to get moving again as leaders in innovation. It is not only an opportunity to leverage the tremendous assets we have, but also a need and an obligation as leaders to do this for our companies and for our country.” Marty’s enthusiasm, determination and drive have helped rally a highly diverse group of leaders into what has become a collaborative effort across the region. (more…)
In doing analysis for web company that provides online solutions for managing commercial and residential contractor bids and work processes, we were looking for examples of great technology integration stories. We immediately raised up the seamless integration between the iPod and iTunes as a great customer experience. It is so easy that there is no user manual needed, but this is a rare exception.
In looking for other ideas, I was thinking about integration between Google Maps and GPS devices and searched Google for examples. (more…)
Most of us would rather not go to a hospital. When we do go, it often seems that most of the staff aren’t too happy to see us there either. Individual medical professionals and staff can sometimes be friendly one-on-one, but nobody greets you, nobody welcomes you, and you spned most of the time sitting around in uncomfortable chairs, reading dull magazines, and trying to not breathe the air in the cramped waiting rooms.
I don’t write this post as an endorsement of Kaiser, but I recently went to a Kaiser facility and was extremely surprised by the great service. It provides a great view into transforming of customer experiences. In the case of Kaiser, admittedly I was expecting the worst. The ‘Thrive’ branding seems so perfect, but how could a large company in such a tough industry transform such a typically negative experience into a positive one? Kaiser proved, at least in my case, that it could be done. Anyone who provides service to the general public could learn from the detailed and simple steps Kaiser has taken to make the customer experience far exceed the expectations. (more…)
It is interesting to see how the complex system of consumer spending, retail and the general economy are playing against each other this holiday season. Helen Bulwik, our retail expert at Bedrock Dissero, was recently interviewed for an ABC-TV report on retail trends in 2009. In this she pointed out that in 2008, there were 70+ percent discounts on products prior to Christmas. This was necessary to get shoppers into stores and behind the scenes, there was a great amount of excess inventory that retailers knew needed to be reduced quickly in the face of weak consumer demand.
As the economy continues to remain in tough shape, companies have held to the mantra that “cash is king.” This is certainly true as companies use cash reserves to maintain operations, while revenues falter. However, there is a second “king” that is emerging in importance as well. That is the customer.
During the booming economy, many companies were able to take consumer demand for granted at a macro level. The more products offered, the more stores opened, the greater the revenues. It was simple. This translated into less attention to truly delivering great customer experiences in terms of meeting true needs or offering excellent customer service. There is a building awareness of the need to re-focus companies from solely driving on internal operations efficiencies and financial structures and into delivering great customer experiences.
Some companies, such as Apple and Southwest Airlines were already focused on customer experience well before the economic meltdown and are faring the downturn much better.
As we enter the normal stategic and business planning season it is clear that things are different this cycle. We are all being forced to ask tough questions about how we’ll invest, carefully, for 2010. I’ve been in several strategic planning sessions with both clients and in our own company where a single question is disturbing the status quo. The question boils down to asking, “is our current business model and approach over-engineered and over-built…and if so, how do we get it right for the coming years?” There is a fantastic Wired Magazine article you can use to spark the right conversation within your team that will help you target investments in the right areas.
A recent article in BNET was somewhat scolding executives for needing to go to ‘Strategic Planning 101′ in response to a Dartmouth Professor’s claim that newspaper publishers are just sitting around and whining, while their businesses go in the tank.
A clip from the article shows a somewhat insulting list of what Strategic Planning 101 is all about. Usually I just ignore this type of advice, but in this case it was so far off the mark, I had to comment.
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Strategic Planning 101
- Get a bunch of smart people in a room together … without cell phones and Blackberrys
- Have somebody present a completely honest analysis of the competitive situation
- Throw out all the sacred cows and preconceived notions
- Brainstorm new ideas until you can’t stand to look at each other anymore
- Vote on them, take the top ten, assign each to an executive to develop a business plan
- Meet back, present the plans, debate, decide on one or two to implement, and execute
At least you’d think that’s what they’re doing, right? All those high-paid executives with fiduciary responsibility can’t just be sitting around complaining and waiting to die. Or can they? What do you think? Do Syd and I expect too much from officers and directors that shareholders depend upon to make their investment worthwhile?
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This misguided view of what strategic planning has two major gaps that are the undoing of most efforts to set and execute strategy. (more…)
There is a natural reaction when a major disruption in business occurs to go into survival mode. That means tunnel and short-term vision as well as tactical and reactionary measures. That can be a necessity for survival. However, a recent poll of the Strategic Planning Community (SPC), a business social network of strategic planners hosted by the Association of Strategic Planning (ASP), shows that for the most part, the knee-jerk reactions to the downturn have passed and most companies are moving towards more strategic moves. (more…)
The Professional Services Journal invited Jeanne Urich, SPI Research, and I to co-lead a webinar on professional services transformations. We share background on the industry-leading PS Maturity Model Benchmark as well as our PS Transformation approach.
If you are responsible for improving performance of a professional services orgnaization or merging services organizations, you will find this webinar valuable in terms of specific benchmark performance metrics from the ”best-of-the-best” and a well proven process for transformation with some tools and case exmaples to apply to your business.
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Michael Kanazawa shares recent insights and tips about the no-nonsense, results-driven approach to driving business breakthroughs found in his new book Big Ideas to Big Results.