Customer Champions’ 2016 predictions
Predictions for customer experience management in 2016.
The world economy is mixed with some countries continuing to see growth, others struggling to keep out of recession, and others growing but not at their previous high rates. Whilst every business is arguably global these days, in that they can be impacted by market changes, there is one consistent issue in every market, and that is the power of the customer. Ultimately they have the ability to determine the success or failure of the vast majority of businesses around the world. So what are the Customer Champions’ 2016 predictions?
Whether your company is focussed on customer strategy, centricity, effort or net promoter score the result that every organisation is focused on is ‘will my customer spend more, buy a greater range of products or services from me, and will they actively recommend my business?’
So with that common goal we thought we’d take the brave step of making some predictions of what will be key to helping you deliver that in 2016.
1. Net Promoter Score remains the number one measure
Although other measures such as Effort, or Value have been put forward the Net Promoter Score continues to be the one measure that is recognised and understood by many leadership teams. You have to take a balanced view on whether NPS is right for your business, but its simplicity and industry currency will ensure that it will remain the most popular measure of customer feedback.
2. The full impact of Employee Engagement on Customer Engagement will be recognised
Increasingly companies will pay more than lip service to recognising that employees are a key factor in the successful delivery of a customer centric strategy. Fully engaging with those employees will be seen as an essential investment in the successful deployment of that strategy.
3. Customer Journey Mapping will continue its high take up
Every day our articles on the website about Customer Journey Mapping receive an increasing number of readers. It appears that businesses around the world, and in very different markets, are identifying the value of customer journey mapping to help structure and identify what actions are key to customers, not only to help redesign processes, but to help to reduce customer effort and increase the value being delivered when compared with the competition.
4. Business-to-Business markets will place greater emphasis on customer testimonials
Particularly in a B2B market potential customers want to know more than a Net Promoter Score to gauge a potential suppliers performance for their customers, they want to have access to customer testimonials, case studies, and reference customers. These will become a natural extension of any B2B customer feedback programme.
5. Greater understanding of senior key decision makers
Continuing with the focus on B2B, every business tends to have a small but key group of senior customer decision makers who can significantly impact their business. Companies are increasingly going to recognise that gathering their views through techniques such as online or telephone interviews just doesn’t collect the level of high value feedback that is available to them. The use of independent face to face Executive Interviews and reports will continue to grow.
6. Value for Money becomes the key strategic differentiator
Increasingly businesses don’t want to compete on price, and customer centricity may not be enough to differentiate in increasingly competitive markets. Delivering customer focused Value for Money (VFM) better than your competitors will deliver a long term competitive advantage. VFM is a subjective concept where perception is a not insignificant factor in customer evaluation – merely dropping the price is not always the most effective route and is certainly not good for long term profitability. We predict therefore that organisations will start to think smarter and turn their gaze towards making this perception element work harder.