Customer Experience Revolution - Introduction at harvard

What is Customer Experience (CX)? Why is it a revolution? And why should you care? Customer Experience is defined as 'the sum up all the interactions' that a customer, or a consumer, might have with your brand - across a lot of different channels. Those channels will depend on what business or company you might be: direct, in store, call center, web social, mobile... All the different channels and the interactions that a customer has with your company - - regardless of those channels - together make up the Customer Experience. So why is the Customer Experience so important, and why is it that we're calling it a revolution? Let me put a face if, I could, to the name your customer. Let's call her Katie and Katie as your customer has always called the shots. From the very beginning a time we might say the customer, in this case, was "the Queen." But things have changed and the balance of power has shifted from the company to the consumer in ways that it never has before she now has more control as a share this message with different companies especially those that are customer-oriented they're not in their heads and saying yes yes the customers really really driving the conversation there actually driving our business and our processes in ways they never have before so why did why does the Casa why does Katie have so much clout well it begins with an understanding of some other trends they're going on in no surprise social media is a big part of those trends we partnered up with Harris Interactive a very inside fourth study and found that after bad customer experience in other words when your company's made a promise and you haven't kept that promise are you set an expectation those expectations are not delivered 25 percent of people go online I'm will use Facebook or Twitter some other social platform to talk about a bad experience and this is a cross all demographics right so in some demographics in some brands that number will be even higher now at the same time as you can see seventy-nine percent of consumers feel like those complaints are be ignore they're talking and companies perhaps your company isn't listening so we have really the grounds for revolution if you will because we have two opposite ends of the spectrum two classes if you will that are communicating together now at the same time customers just are loyal like they used to be we as consumers have more choices than we've ever had in the history of the world were also connected we can go online you can find many alternative the brand's that we do this with today and our studies found that fifty will give a like week before the start to break up with that business so to speak and eighty-nine percent customers would begin doing business with competitor following single bad experience because they have choice they can start looking around not loyal anymore the perfect case study is the United breaks guitars media and you guys have seen this video anybody and you too okay you have for everybody who has a meeting the short version this gentleman is a guitar player and he's on a United flight is getting ready to take off and he and his band are gonna go do what we can perform in some routes and he notices before the flight takes off at the baggage handlers are tossing his guitar it's out there on the tarmac and he fears the worst and as luck would have it guess whose destination guitars broke it was a nice Taylor acoustic it har broke in ruined the gig was ruined the weekend was cancelled the band century had a pack up and go back home right to he does with a lot of us do after bad customer experience: he gets up on the you get a little United says hey take some responsibility right we saw this happening I would you own up to this and United Says no as far as he's concerned they would take no responsibility cell he does what we've done before he escalates the supervisors you start writing emails he sent letters to the company disclose on and on for about a year the final United Says no stop asking so being in this air that we're in now and being a musician he writes a song he calls the United breaks guitars he puts it on YouTube and as you can see the video went viral got eleven million views four-day and in the same four days their stock dropped ten percent it got so bad the United executives had to address this individual in earnings call right before all the analyst in all the people in the industry and now I think it's $12 million views and counting in the same four days again our stock dropped ten percent hen percent by more than the Cossack so this is an example the way things have shifted this revolution because if we go back by me ten years ago at the mo and he had the same experience he might have told his friends his family his coworkers what are we talking 50 people a hundred maybe two hundred people he was very ambitious and connected 12 million and counting and it's still up there today right so they put a lot of pressure on the brand's and on your company to pay attention the cast this is why they have balance the transfer in there they're calling the shots like they never have before now the good news for your company is there lot of money you can deliver on it superior customer experience are same research found that after a bad customer experience: customer I'm sorry our customers will be willing to pay 80s 25 percent more for good customer experience eighty-six percent of customers will be willing to pay 25 percent more for good customer experience and this is just into it right you you think about your personal shopping whether you go to Nordstroms or Starbucks or somewhere else we all tend to go to places where we know we're paying more and we're happy to pay more because we get good customer experience so that's why it's important you that's why brands and businesses wanna pay attention good customer experience now we because the negative consequences but because the positive value the benefits that can bring company so how do you do it we could talk at length but poor the purposes that today I wanted real down three-point what makes consumers fall in love with the brand the first thing and this is pretty obvious is friendly employees and helpful customer service good people they're helpful and nice to talk to you and what makes them helpful its easy access to information and support so that when you call up I know what you purchased from or what conversations you had with my brand no matter what channel why you engaged and then when I know that and I'm friendly I can deliver the true pinnacle good customer experience and that is a personalized experience good afternoon I haven't seen you are you have engaged with our company since last week when you bought that pair tennis you what do you think you know shoes by the way and would you like some suggestions for trousers that might go well shoes right that's a personalized experience and now requires me to know a little bit about who you are it to be good friendly employees so that's how we deliver on customer experience so my my challenge to you my invitation today is to define if you haven't already customer experience strategy if you have that one in place execute at the end of the day as you can see appear only one percent of consumers feel like their needs army there's a lot of room for improvement across all brands in all industries and you can deliver on this you can take advantage the customer experience rebel thank you