Would you like to learn what the top performers do in the field of Customer Experience?
We wanted it as well. That is the reason why we went out there and asked nearly 500 market leaders and top performers in CX what they do regarding their CX activities, budgets, and plans for the future. What we got is a comprehensive package from practical data and a vast future outlook on where the CX market is going and how top companies are putting their customers at the heart of their strategy in the future. We are excited to share with you the key facts and insights from the Future CX Outlook Report.
Join us on April 28 to understand where the CX budgets are appointed and what the industry feels about how to quantify the ROI of Customer Experience efforts all the way to the rise of the emotional experience measurement.
To this point, we have been living in the world of simplification. And to be honest, we still do and that is a good thing. But we would need to be able to look deeper than just satisfaction, recommendations, and ease of doing business. The study of Emotional Experience shows that compared to many others, different emotions drive the highest business value.
Emotions and feelings are the biggest part of the customer experience since everything is tied to them starting from the willingness to recommend and customer satisfaction. Emotions grow or deteriorate value for a business. This also happens in a way that you don’t even notice it if you are not paying attention to it.
Emotions are the key drivers that make it or breaks it when it comes to our desire to buy or not to buy. Even more than that, if we have decided to buy, we choose which company to do business with based on the experience and what emotional drives are behind it. Today, a whopping 46% are saying that customer experience is the main driver of the purchase decision where pricing is only 20%.
According to our recent study, today the number is still low as only 6% of the professionals and managers in the industry try to measure emotions and most of them do not have a sufficient KPI for it. Mr. Colin Shaw discusses the hierarchy of emotional value in his book and study with the London School of Economics where they asked over 50,000 people from 100 industries in 40 countries to get these answers. Out of the 4.5 million survey questions answered, 1.25 million responses were about what customers want, and another 1 million answers explained what customers feel.
In other words, look beyond NPS and CES to emotions that you want to drive in your business and find a way to measure those. In Feedbackly, we’re using the Emotional Value Index (EVI®) for it (feel free to contact us to learn more about it). One way or another, the industry is moving towards measuring deeper emotions, and that is a good thing! The next big thing is to dive deeper beyond the current KPIs and use something that explains more emotions than anything else.
To understand the emotions of your customers and how the emotions impact the performance of your business, you would need to be able to measure the emotions on a large scale.
To help you do it, in cooperation with CX Forum, Carepage and Feedbackly, we’ve put together a webinar about the Emotional Experience and Emotional Value Index™. It is free of charge and you can get the recording here!
Measuring customer experience is more popular than ever and not without a reason. In the quick pace of technological development, only a very few companies are able to compete purely based on technology and ignore the customer. Customer experience is the new competitive edge that makes it or breaks it. If you’re reading this, you likely agree. You also understand that collecting CX data is key, understanding its value to your business is critical, but identifying the right actions to take is not always so clear.
With CX Forum and Feedbackly, we have developed a completely new concept of Emotional Experience measurement. This new framework takes into consideration the vast variety of human emotions and how those emotions impact your business performance. We’re excited to open up more about this big and important topic on our next webinar.
This webinar was live on March 17. Now you can enjoy the educational webinar recording to find the answers to some key questions about how human emotions impact your business performance and how you can use them for growing your business. The webinar was brought to you by Feedbackly and Carepage.
Jaakko an award-winning CX professional and one of the founders of the Emotional Experience measurement framework. Jaakko is also the founder and CEO of Feedbackly, co-founder of CX Forum and CX academy, and the author of the CX handbook The Journey. He is a researcher in the area of utilizing AI tools to build better customer experiences. Jaakko is an award-winning Customer Experience Professional who has been featured also on the Forbes 30 Under 30 list of rising CX stars.
This webinar was live on March 17th, 2021. Big thanks to all the registrants and participants. We’re thrilled that the webinar had about 500 registrants! Thank you!
Measuring customer experience is more popular than ever and, if you’re reading this, you likely agree. You understand that collecting CX data is key, understanding its value to your business is critical, but identifying the right actions to take is not always so clear. That’s why we put together this webinar in cooperation with CX Forum and Carepage. To answer some key questions around:
What are the key steps to take when collecting CX data?
What to keep in mind when analyzing the CX data?
What actions can you take after you have analyzed the data?
What are the most common pitfalls to avoid when closing the loop between gathering data and taking action?
How to calculate the ROI of your CX improvements?
Join us on February 17 for our educational webinar to find the answers to some key questions that define if and how much your CX improvements have an impact on your growth.
The webinar will be led by the Customer Success Superhero at Feedbackly, Chief Customer Officer, Kristian Stolt. We’re proud to say that Kristian and his team have helped industry-leaders around the world become CX front-runners. Kristian is also one of the head coaches in the CX Academy.
Kristian is the Chief Customer Officer of Feedbackly and one of the head coaches of the CX Academy. Kristian and his team have helped many industry leaders across the world succeed with their CX programs and become CX front-runners. Among the many, they have helped the City of Helsinki, Merck, Innovasport, the Australian Government, Banregio.
Every year hundreds CX and marketing professionals like you take the survey to help the industry to gain a better understanding of the trends of CX.
Share your insight on the future of CX and gain early access to our latest report on “Future CX Outlook in 2021” all by simply completing a short 15-minute CX Survey. This report will give you a global overview of the CX industry and where it is heading.
By completing the survey before Feb 14th, you will gain instant free access to CX Academy’s most popular course, Customer Experience 101. Once the report is published, you will gain free early access to the “Future CX Outlook in 2021” report where you’ll be able to compare your position to your industry peers.
You may participate in the survey by filling the form below, well then email you the link to the survey. This report is created in cooperation with CX Forum and CX Academy.
The customer journey is an integral element to understand customer experience effectively and gain advantages from it. It is the sum of different stages through which a customer passes, beginning from the first encounter with the brand until the post-purchase interaction. Accordingly, it consists of awareness, interest, consideration, evaluation, purchase.
If you want to provide a stimulating customer experience that compels clients to go into the next stage, you need to have effective strategies in place for each of these phases. But, how do you ensure your strategies are executed systematically after fully understanding your customers?
This is when the power of mapping comes into play.
What is customer journey mapping?
Simply defined, it is the process of visualizing the customer journey with details specific to your business. It records every engagement that occurs between the customer and the brand. Essentially, you get into the shoes of your customer, appropriate their perspective, and map out their journey with your brand from the beginning to end. In order to do this, you have to clearly identify the stages of the customer journey and outline every aspect of customer experience related to each phase.
Customer journey mapping is no simple task. For a successful effort, the map has to be outlined after extensive research to gather relevant details. What’s important to remember is that there’s no one-size-fits-all map to explain the customer journey. There might be a need to create multiple maps to fit different types of buyers and how they interact with the brand. Moreover, it should be refined and developed with time as customers’ interactions change over time.
Why is it so important?
Mapping out the customer journey is an inevitable responsibility of every CX team. It is a vital aspect of customer experience management for many reasons.
1. Understand your customers better
If you have a thorough understanding of every customer interaction, you will have a clear idea about their tastes, preferences, expectations, and other notable behavioral patterns. This way, it’s easier to align every business activity towards the requirements of the customers. Instead of making assumptions about what’s best for your customers, you can make use of information that will grant you near-accurate solutions. Without a detailed map that outlines every touchpoint of the customer, this task will be really difficult.
2. Identify customer pain points
Every customer-centric business would want to make the buying experience a seamless one for their clients. One of the most effective ways to do this is by understanding the various pain points that customers face at different stages of the customer journey. Mapping will ensure that the identified pain points are properly structured, categorized, and well-detailed so that you can approach to solve them one by one. Moreover, it will also help you pinpoint their root causes and address them effectively.
3. Personalized customer experience
Customer journey mapping is a blueprint for successful customer experience. It gives you insights into various customer types and market niches in which your product/service is demanded. With this knowledge, you can design personalized marketing and sale content that appeal to each customer segment. It also helps you reach different customers with the most appropriate channels to engage with them.
4. Tackle gaps
Another unignorable benefit of mapping is the ability to spot loopholes, market gaps, and other pitfalls of your brand. According to Infiniti Research, a customer journey map is an effective technique to identify existing gaps between expected customer experience and actual customer experience. Using this, you can refine the service provided for high conversion rates and better customer retention.
5. You will simply sell more
But how customer journeys pay off? Customer journeys create a more predictive performance of business outcomes than touchpoints can alone. A McKinsey study shows that customer journey performance is 20-30 % more related to high revenue, repeat purchase, and positive word of mouth but also lower churn of customers. Overall, businesses that focus on customer journeys are inclined to have various rewards as they tend to sell more and win the market.
Useful tips to remember
As a final note, here are some useful tips to help you draft a good customer journey map for your brand.
Walkthrough your brand like a customer to evaluate the level of customer experience more accurately.
Always have a buyer persona in mind before you start. It will help you narrow down your focus and pay attention to nitty-gritty details.
Once you have identified pain points and issues, include actionable activities to rectify them along with a responsible employee to be in charge of it.
Make your mapping process context-specific aligning with the present trends of customer experience.
Rely on customer feedback, reviews, and queries to detail each phase more comprehensively.
Constantly update and improve your maps to enhance its impact on your business activities.
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