Report: State of Voice of the Customer Programs, 2016

1610_stateofvocprograms2016_coverWe published a Temkin Group report, State of Voice of the Customer Programs, 2016. This is the sixth year that we’ve benchmarked the competency & maturity of voice of the customer programs within large organization. Here’s the executive summary:

For the sixth straight year, Temkin Group has benchmarked the competency and maturity levels of voice of the customer (VoC) programs within large organizations. We found that while most companies think that their VoC efforts are successful, less than one-third of companies actually consider themselves good at reviewing implications that cut across the organization. Respondents think that in the future, the most important source of insights will be customer interaction history and the least important source will be multiple-choice questions. And although respondents believe that technology will play an increasingly important role in their VoC efforts, they also cite “integration across systems” as the biggest obstacle to their VoC success, and this concern has only grown in the past year. In addition to asking questions about their VoC program, we also had respondents complete Temkin Group’s VoC Competency and Maturity Assessment, which examines capabilities across what we call the “Six Ds”: Detect, Disseminate, Diagnose, Discuss, Design, and Deploy. Only 16% of companies have reached the two highest levels of VoC maturity, while 43% remain in the bottom two levels. When we compared higher-scoring VoC programs with lower-scoring programs, we found that companies with mature programs are more successful, they focus more on analytics, and they have more full-time staff, more strongly coordinated efforts, and more involved senior executives.

See the State of VoC reports from 2010201120132014, and 2015.

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Here are the results from Temkin Group’s VoC Competency & Maturity Assessment:

1610_vocmaturity

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Report: Benchmarking HR’s Support of CX and Employee Engagement

1602_HRinCXBenchmark_FCOVERWe published a Temkin Group report, Benchmarking HR’s Support of CX and Employee Engagement.  We surveyed 300 HR professionals from large organizations in North America and compared the results to a similar study we did in 2012. Here’s the executive summary:

Employee engagement is a critical component of customer experience (CX). To determine how effectively human resource (HR) departments support these engagement efforts, we surveyed 300 HR professionals from large companies and compared the results to a similar study we conducted in 2012. Seventy-three percent of HR professionals believe that it’s very important for their organization to become more customer-centric, but only 31% believe that HR professionals are significantly helping these efforts. The good news? That’s more than twice the level of HR support we found in 2012. Compared with 2012, companies are both measuring and acting on employee feedback more frequently, and HR professionals have more bandwidth to work on employee engagement. When we compared the companies that deliver outstanding customer experience with the companies that don’t, we found that the CX leaders have better financial performance, enjoy higher levels of engaged employees, are more customer- and mission-centric, have HR groups that are more actively involved in CX and employee engagement activities, and more frequently measure employee feedback. To improve employee engagement, companies must master the Five I’s of Employee Engagement: Inform, Inspire, Instruct, Involve and Incent.

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Here’s one of the 25 figures in the report:

1602_ImportanceOfCXCulture

Here are some other findings in the research: Read more of this post

Report: State of Voice of the Customer Programs, 2015

1510_StateOfVoCPrograms2015_CoverWe published a Temkin Group report, State of Voice of the Customer Programs, 2015. This is the fifth year that we’ve benchmarked the competency & maturity of voice of the customer programs within large organization. Here’s the executive summary:

For the fifth year, Temkin Group has benchmarked the voice of the customer (VoC) programs within large organizations. We found that while most organizations consider their VoC efforts to be successful, less than one-third of organizations actually believe they are good at making changes to the business based on these insights. Respondents think that the most important source of insights in the future will be customer interaction history, and they think that going forward, multiple-choice questions will be the least important. Respondents believe that technology will play an increasingly important role in their efforts, but the largest obstacle to VoC success remains integration across systems. In addition to asking questions about their VoC program, we also had respondents complete Temkin Group’s VoC Competency and Maturity Assessment, which examines capabilities across what we call the “Six Ds”: Detect, Disseminate, Diagnose, Discuss, Design, and Deploy. Although only 16% of companies have reached the two highest levels of VoC maturity, this is still an improvement from the 11% last year. When we compared high-scoring VoC programs with lower-scoring programs, we found that companies with mature programs are more successful, focus more on analytics, have more full-time staff, have more strongly coordinated efforts, and have more involved senior executives.

See the State of VoC reports from 201020112013, and 2014.

Download report for $195
BuyDownload3

Here are the results from Temkin Group’s VoC Competency & Maturity Assessment:

1510_VoCCompetencyMaturity

Download report for $195
BuyDownload3

CX Moneyball, Game-Changing Analytics

I met Billy Beane, General Manager of the Oakland Athletics, last year when we both spoke at the same event. He enjoyed making fun of me as one of the few Red Sox fans in attendance. Even with the ribbing, I’m still a big fan of Beane.

Beane is the main character in the book, and now movie, Moneyball. It’s a great story, portraying Beane as a game-changer in baseball. He recognized that his small-market team could not compete with big-market teams like the Yankees and Red Sox if they operated in the same way. Those other teams would always have dramatically more money to spend on players.

So he found a new way to compete: using data. Beane recognized that teams were incorrectly valuing players. By examining the data, he found that baseball teams overvalue things like defense and closers, but undervalue other areas like how often players get on base (measured by a stat called OPS, or “on base percentage”). This analysis allowed the Athletics to more effectively spend its limited budget on player salaries.

Seeing the movie made me think about how to apply Moneyball to customer experience. What data or analysis would Beane use if he were a customer experience leader? Here are some that I came up with:

  • Experience Elasticity. It would be very valuable to understand how much impact every interaction had on the long-term loyalty of each customer. With that data, we could identify the specific interactions that have the most impact on our business. This would allow us to invest in improvements to customer experience that have the highest business value for the company.
  • Predictive Feedback. Customers are getting more and more surveys, because companies recognize the importance of this outside-in feedback. But it’s very hard to get this data on every interaction. It would be extremely valuable to predict the feedback that customers would give based on an analysis of their interactions. With this type of data, a company could evaluate every call center agent on every call and the experience for every online interaction — without any survey fatigue.
  • Word of Mouth Value. Lots of people talk about the value of word of mouth, but there’s little understanding of what it really means for a business. How many customers or prospects change their behavior based on what someone else has said about a company? And what role does social media play in those decisions? If we really understood this information, then we could better align our social media strategy.
  • Employee Engagement Elasticity. One of my 6 Laws Of Customer Experience is that unengaged employees don’t create engaged customers. But what does it take to truly engage employees? It would be vary valuable to understand which things create the most engaged employees so that we could target our spending on HR, training, hiring, communications etc.
  • Brand Value Elasticity. Every interaction can reinforce or refute a brand. But which elements of a brand truly affect the behaviors of customers and prospects? This information will allow us to understand which brand elements we really make sure are reinforced during interactions.

What analysis would you point to as CX Moneyball?

The bottom line: There are many disruptive opportunities for CX analytics

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