Stay Ahead of Your Competition with New Advances in CX Marketing
This podcast discusses the five areas you can address that will change the results you get with your Customer Experience. With a focus on these five key actions, you will not only improve your Customer Experience, but you can also get a jump on the competition in the new year.
5 CX Concepts to Keep You Ahead of the Competition
Focus on the ROI of CX improvement.
Having a record of your return on investment (ROI) for Customer Experience programs is vital. An increase in sales is excellent. But not all ROI is sales-based. You can have an increase in your NPS (Net Promoter Score, which indicates your customers will recommend you to family and friends). You could also see improved Customer Satisfaction ratings, which are great for building a foundation for loyalty. Another area where ROI is apparent is in the costs you save by providing an improved Customer Experience.
We all have varying levels of risk tolerance. When we shy away from risk, we call that risk-aversion. This episode of The Intuitive Customer discusses the concept of risk aversion and how it affects customers’ behavior in your Customer Experience.
People like sure bets better that come with less significant gains over risky ventures, even when the risky venture proposes a substantial benefit. We hate losing things. Losing things makes us much more upset than gaining things makes us happy.
So, if we are risk-averse by nature then we must always be risk-averse, right? Not so fast. Human behavior is rarely predictable, and our behavior regarding risk is no different. There are exceptions and variables that can change our risk preferences. We discussed the four influences on our tolerance for risk in this episode.
There is an abundance of theory in behavioral economics which can seem overwhelming. How can Marketing and Customer experience teams start using it today. In this podcast we give you an overview of the big ideas. To do this, Ryan has developed a framework of the four key principles – a summary of the four principles of human behavior. Ryan calls this the 4R’s.
There is a great deal of information in academia that can help your business, but how do you access it? How do you read it? How can you apply this to your customer experience? Colin will reveal how you can benchmark your performance against other companies to determine how you are doing in the new world of behavioral economics and customer experience. Just complete a short questionnaire and we will then send you a free personalized report!
It seems from two recent surveys that despite all the money and resources that have been ploughed into improving Customers Experience, this is not having any effect? What will happen next is that CEO’s and the C-Suite will start to remove their support for these changes. What is the problem and what can be done about it? Who better to answer that than Colin Shaw with 17 years experience in the industry and many successful implementations that have driven a great return on investment.