The Top Customer Experience Takeaways From Net Promoter Conference 2015
After spending a few days with some of the brightest minds in customer experience at Satmetrix’s Customer Passion Net Promoter Conference, one thing became clear: companies need to ensure every touchpoint in the customer journey is amazing if they want to stay competitive. Reactively putting out fires with unhappy customers isn’t enough anymore.
Several speakers discussed how improving the customer experience is vital to increasing revenue through loyalty and retention, and preventing detractors (those who give you a NPS® score of 6 or less) from turning off potential buyers. According to the London School of Economics, brands that focus on reducing negative word of mouth stand to gain 300% more revenue.
Also mentioned throughout the conference was the untapped potential of promoters (those who give you a NPS® of 9 or 10), who are usually forgotten about after taking a survey. However, since 92% of consumers trust recommendations from friends and family more than any other form of advertising (according to the Keller Fay & Word of Mouth Marketing Association), brands can no longer sit around hoping customers will recommend them.
Here are some of the top takeaways from the conference for fuelling advocacy, loyalty and growth by improving the customer experience.
1. Everyone must live and breathe the customer’s story
In spite of most CXOs’ desires to create a better customer experience, Jeanne Bliss, CEO of CustomerBliss, and author of Chief Customer Officer 2.0, says many companies still work in separate silos when it comes to creating and reporting on the customer journey.
Her recommendation: have every employee in your company experience the customer’s life cycle. Everyone from the C-suite to the frontline should go through the customer journey end-to-end so they can identify areas where it’s lacking. It will also help them better empathize with customers.
Jeanne also encourages brands to create a visual representation of the customer journey somewhere in their offices for everyone to see. This will help standardize the phases in the buying and adoption process, cut across organizational silos, and make customers seem like real humans instead of scores on a spreadsheet.
2. Find the real reasons for churn throughout the customer experience
Nick Mehta, CEO of Gainsight, says most B2B brands erroneously chalk up churn to the last event in the customer life cycle. In reality, a lot of small things are more likely to contribute to customer churn. Finding the “breadcrumb trail” of negative experiences that lead to a customer leaving is the key to preventing it from happening again.
Trying to predict churn based on high priority support tickets doesn’t mean much. Nick says a higher number of low priority tickets is a better indicator of potential churn because your customer is likely having multiple issues with your product. Other predictors of churn include unsubscribing from your emails and late bill payment. Both mean the customer is disengaging from your brand.
Nick recommends doing a thorough root cause analysis any time a customer leaves to find out the true reasons for churn. He also suggests account managers work harder at developing personal relationships with multiple stakeholders in your customers’ organizations to watch for warning signs.
3. The secret to customer advocacy: enchantment
Guy Kawasaki, Chief Evangelist at Canva, says that brands need to work on the three pillars of enchantment to truly engage their customers. They are:
- Be likeable. Be willing to go the extra mile to get and keep customers.
- Be trustworthy. You must trust your customers before you can expect them to trust you.
- Be competent. Create a great product that is useful, intelligent and elegant.
Guy says that once customers express happiness with your services, brands should ask them for something in return. As humans, we are psychologically hardwired to give back after we receive. Because of this need for reciprocation, companies that ask for specific acts of customer advocacy, like a recommendation, will find their happiest customers are eager to oblige.
Measuring your customers’ happiness with NPS® surveys is great place to start, but unfortunately too many companies stop there. Rake an active role in inviting your Promoters to help you increase leads, generate more revenue and reduce churn through advocate marketing in this free eBook by Influitive and Waypoint Group.