Emotion: The Business Blindspot (Marc Davis, Customer Alignment)
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Presentation by Marc Davis, Customer Alignment, at the 20 June 2019 CX Emotion conference (http://cx-emotion.com)
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Emotion: The Business Blindspot (Marc Davis, Customer Alignment)
- 1. The Business B l i n d s p o t Emotion Marc Davis
- 2. A typical customer story No emotional detection or emotional connection Customer Alignment Proprietary & Confidential Information Calm Alarm Annoyance Frustration Powerless Exasperation
- 3. “widespread CX stagnation” in 2019 Forrester’s 2019 US Customer Experience Index (CX Index™) 14%Scores rose 5%Scores declined 81%Scores stayed the same Yet we see lots of focus & activity Customer Alignment Proprietary & Confidential Information
- 4. ‘Find & Fix’ approaches only remove short-term functional pain The emotional experience is rarely on the radar Customer Alignment Proprietary & Confidential Information
- 5. LOW IMPACT ON OVERALL SATISFACTION CURRENT DELIVERY IS GREAT CURRENT DELIVERY IS POOR HIGH IMPACT ON OVERALL SATISFACTIONThings that will improve the experience Customer Alignment Proprietary & Confidential Information Our Customer Experience Lens
- 6. HIGH IMPACT ON OVERALL SATISFACTION LOW IMPACT ON OVERALL SATISFACTION CURRENT DELIVERY IS GREAT CURRENT DELIVERY IS POOR We find companies are letting customers down on the ‘emotional’ • I feel valued as a customer • They understand me and my needs • They appreciate my situation • They always do what they say • I can give feedback and feel listened to Rational is ‘easier’ to do well Tends to be more rational interactions Tends to be more rational interactions Tends to be more rational interactions Customer Alignment Proprietary & Confidential Information
- 7. Yet, Emotion drives loyalty Forrester It’s the influence in customer loyalty NO. 1 Customers are nearly times more loyal when they feel valued than when they feel annoyed 5 Customer Alignment Proprietary & Confidential Information “customer retention and global loyalty are declining at a rapid pace. Only 44% of consumers in total say that they have stayed with their service providers for at least 3 years. This is a reduction of 39% since 2015.” – Verint 2019 And loyalty is linked to revenue; loyalty is declining
- 8. Emotion separates ‘Leaders’ from ‘Followers’ Question asked of CX business leaders Which of these attributes are very important factors in experiences that drive your customers’ loyalty? All respondents 1. Easy 2. Quality 3. Consistent 4. Personalised 5. Effective Winners 1. Emotional 2. Consistent 3. Customised 4. Personalised 5. Human CustomerThink Customer Alignment Proprietary & Confidential Information
- 9. Emotion isn’t a standalone ‘thing’ leadership technology people listening Nor does it happen overnight Customer Alignment Proprietary & Confidential Information
- 10. Think like a customer Feel like a customer
- 11. Amanda - +44 7811 192316 Marc - +44 7775 672401