#4 Reactions to employee/customer sat posts, relationship between CX and revenue
Welcome to my fourth newsletter covering customer experience and customer-centric business strategy. The four topics this week are:
More reactions to posts about employee and customer satisfaction
I have to admit I was a bit nervous when I put links to this Tuesday’s blog post on LinkedIn. After all, LinkedIn is at the top of one of the ‘bad lists’. They have outstanding employee satisfaction as measured by Glassdoor ratings. At the same time, they have horrible American Customer Satisfaction Index ratings, down in the bottom 10%. Twitter is in a similar position. What is it about the four social media companies on that list? Maybe the lack of direct customer contact is an issue? This is the table I am referring to:
The most frequent comments I have received on these posts have been requests to clarify what I mean when I say that employee satisfaction and employee engagement are different concepts. An employee who is happy with his or her pay, the free food in the company restaurant, and their short commute distance is not necessarily doing anything at all to make customers happy. An engaged employee is working with others in their team, and indeed with other teams, towards clear company goals. If a company plans to take share from competitors, providing a superior customer experience should be on that list of goals.
Thoughts about a customer culture
If you search on “customer culture”, you quickly find quite long lists of things you should do to achieve one. Micah Solomon wrote about his 7 Secrets of Building a Customer-centric Company Culture for Forbes, for example. His is one of the shorter lists, and it does not even cover implementation. Linden and Chris Brown gave their seven ways to Diagnose your Customer Culture in the Harvard Business Review. OK, you have done your diagnosis. Now what? Personally, I don’t like lists that are too long to remember. What would you think of just two points?
I invite you to inspect your own company and to assess it on these two points. Customers don’t currently have to like you for the culture to exist. Getting from negative or neutral customer perceptions and market share trends to something more positive takes time. It will accelerate things if your company culture is more customer-centric than that of your competitors.
Our latest blog posts
Older posts are of course still available on the blog page.
Notable customer experience items from other sites
Jeanne Bliss: “Yes, good CX is tied to revenue gains”
Nice post from Jeanne Bliss about the relationship between customer experience and revenue. She relies on Forrester research results for her conclusions. Jeanne is the author of Chief Customer Officer 2.0. She has occupied that position at Microsoft and Lands’ End, among others. You can find her blog post here.
Bruce Temkin provides 20 industry charts on how CX relates to buying
In the same general vein as Jeanne’s blog post, Bruce Temkin provided 20 interesting charts that show how customer experience improvements relate to revenue for 20 different industries. He posted it on LinkedIn here.
Tips on using text analytics
As many readers know, I consider automated text analytics to be the most important frontier of customer experience research. We need to be able to ask customers open questions and limit human bias when analyzing the answers. Nobody has a perfect solution yet. Matti Airas of Etuma has just published a useful eBook that provides 23 Tips on Using Text Analysis to Increase Customer Loyalty. I enjoyed the tips and find them insightful.
Next week will see the first in a series of posts about behavioral economics and its implications for strategy and customer experience. I am a great fan of Daniel Kahneman and Dan Ariely in particular. I consider their books to be essential reading. We humans do not behave nearly as rationally as we would like to believe. Behavioral economics explains why.
Our book writing and illustrating is going well. I am still optimistic about being ready to release them around the end of the month. I have not done something like this before, and suppose all sorts of last-minute panic items will arise. I am already learning how difficult it is to have a single format for graphics that works for both Kindle and print versions.
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