Inside every organization is a hidden advantage that if used right will result in a tremendous competitive edge. Most organizations don’t understand how to deploy this secret weapon so they carry on doing what they’ve always done wasting a precious resource.
This presentation covers why it is imperative for you to uncover and deploy your Secret Weapons and how to do it.
3. Customers expect more Along with the reset in the economy, Customer Engagement has also been reset In 2008 59% of consumers were Engaged CUSTOMER ENGAGEMENT The % of your customers that will return, go out of their way to do business with you, recommend you and are passionate about your brand Crept up to 52% in 2010 Plummeted to 51% in 2009 3 PeopleMetrics Most Engaged Customers Study
4. If they don’t get it, performance suffers Companies that failed to increase Customer Engagement from 2008-2010 saw below average stock price performance 5+ Point increase in Customer Engagement Industry Average 5+ Point decrease in Customer Engagement PeopleMetrics Most Engaged Customers Study 4
5. Employees are disengaging at an alarming rate 84% of employees plan to look for a new position in 2011 Only 27% are Actively Engaged2 ! …up from 60% last year1 5 1. Manpower 2 HR Solutions 3 PeopleMetrics
7. They do not fix problems Impact of Service Failures & Recovery on Customer Engagement % Engaged PeopleMetrics Most Engaged Customers Study 7
8. They do not go above & beyond for customers When an employee fails to go above & beyond customers are: 3x More likely to be Actively Disengaged AD: customers that hate you 2x More likely to be on-the-fence OTF: customers that may be ready to leave you 8 PeopleMetrics Most Engaged Customers Study 1
9. They provide (at best) average service customers don’t talk about average 84% of customers who experience great service will recommend you 16% of customers who experience average service will recommend you PeopleMetrics Most Engaged Customers Study 9
11. Many companies choose to trust their assumptions Assuming they are good enough 80% Of companies describe the experiences they deliver as “superior” 8% Of customers agree Assuming they know when they are not 1 of 26 Customers who experiences a problem will complain Assuming they are using the right metrics to find out 60% Of customers describe themselves as “satisfied” right before they leave 1 Bain & Company 2 TARP Research 1 Bloomberg Business Week (October 2009) 11
12. Others fail to maximize the value of the intelligence they have While close to six out of ten companies have a formal Voice of Customer program in place, most are ‘in the early stages of evolution’… Temkin Group Insights Report: The Evolution of Voice of the Customer Programs , September 2010 12
13. Of companies DO NOT have established methods for responding to customer feedback 77% 85% DO NOT take immediate action based on individual customer feedback 79% DO NOT define best practices for utilizing and deriving actionable insights from customer feedback Aberdeen Group: The ROI on Customer Feedback, March 2009 13
14. But, the race is on … 88% Of all CEOs say getting closer to the customer is the top business priority for the next five years 76% Say intelligence (insight) and action are key 95%ofCEOs from standout companies say getting closer to the customer is their top priority IBM 2010 CEO Study 14
15. What is the best way to get close to the customer?
16. First, find the agents of your brand Brand Ambassadorsnoun 1 :the people inside your organization who through their great work and commitment to service create Passionate Promoters of your brand 16
17. Second, find your new advertisers Passionate Promotersnoun 1 :the people who call your company to the attention of the public (without the use of paid announcements) 17
18. ! Harnessing the power of your Brand Ambassadors to create Passionate Promoters is the secret weapon that lies in every organization 18
19. Here’s How to Deploy It: Recognize, promote and learn from your Brand Ambassadors Uncover obstacles to success and opportunities for growth Make it easy for managers to act on this intelligence Identify, reward and encourage your Passionate Promoters 19