Despite the plethora of advice about pitfalls and best practices, people still make tons of mistakes, said Scott Rogers (@jayhawkscot) of thinkJar.
The clearest evidence is the language companies use when they're trying to describe success with customers. The vast majority of companies are not using the words that show they are focused on the end results of their strategies. They use company-centric words like retention, loyalty, and lifetime value rather than customer-centric words such as experience, satisfaction, and customer centricity.
Perception gap between customers and companies
What the customer thinks is important is very different than what the company believes the customer thinks is important as IBM discovered in its CRM Study in 2011.
The study asked companies why they think customers follow them on social sites. And then they asked customers why they follow companies on social sites. For customers, the most important reasons for following a company in a social space were discounts and purchases. Clearly not understanding their customers' desires, companies rated these two variables as customers' least important reasons.
While more than ¾ of companies have some form of customer feedback mechanism, less than 10 percent think their efforts are stellar, said Rogers.
Similarly, 80 percent of organizations think their customer experiences are good. Eight percent of customers agree, according to a report from Bain and Company.
"Competitiveness is far more about doing what your customers value than doing what you think you're good at," said Rogers, quoting Clayton Christensen.
People make emotional decisions about products. This is their thinking. When we make decisions, we have our own values and beliefs and our own hurdles, said Rogers.
Rogers continued his conversation by looking at different aspects of the purchase and relationship cycle (loyalty, relationship, satisfaction, experience, and brand) and placed each one under a customer and company lens, showing how divergent the two groups actually are.
Here's his analysis:
The clearest evidence is the language companies use when they're trying to describe success with customers. The vast majority of companies are not using the words that show they are focused on the end results of their strategies. They use company-centric words like retention, loyalty, and lifetime value rather than customer-centric words such as experience, satisfaction, and customer centricity.
Perception gap between customers and companies
What the customer thinks is important is very different than what the company believes the customer thinks is important as IBM discovered in its CRM Study in 2011.
The study asked companies why they think customers follow them on social sites. And then they asked customers why they follow companies on social sites. For customers, the most important reasons for following a company in a social space were discounts and purchases. Clearly not understanding their customers' desires, companies rated these two variables as customers' least important reasons.
While more than ¾ of companies have some form of customer feedback mechanism, less than 10 percent think their efforts are stellar, said Rogers.
Similarly, 80 percent of organizations think their customer experiences are good. Eight percent of customers agree, according to a report from Bain and Company.
"Competitiveness is far more about doing what your customers value than doing what you think you're good at," said Rogers, quoting Clayton Christensen.
People make emotional decisions about products. This is their thinking. When we make decisions, we have our own values and beliefs and our own hurdles, said Rogers.
Rogers continued his conversation by looking at different aspects of the purchase and relationship cycle (loyalty, relationship, satisfaction, experience, and brand) and placed each one under a customer and company lens, showing how divergent the two groups actually are.
Here's his analysis:
Common CRM Pitfalls and Misconceptions about Customers cloud nine | |
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