Welcome!

News Feed Item

HBR Analytic Services Study: customer experience programs foster growth

Everybody agrees: we live in a customer-driven world. And a new study of 403 global business executives by Harvard Business Review Analytic Services finds that companies prioritizing customer experience initiatives fare substantially better across a range of business measures, from profitability to customer retention. The study, “Lessons from the Leading Edge of Customer Experience Management,” was sponsored by business-analytics leader, SAS.

Customer experience leaders face similar struggles to their lagging counterparts. But they are investing in the funding, processes, and strategy to surmount them and consider successful customer experience programs a strategic business priority. Indeed, 71 percent believe that customer experience efforts provide a competitive advantage.

Unsurprisingly, organizations that downplay customer experience management simply don’t believe it provides such a benefit. Yet this viewpoint may be harming their businesses: organizations prioritizing customer experience initiatives are doing better across such wide-ranging KPIs as profitability, revenue growth, quality and customer retention rates – in some cases outperforming by a factor of two or more.

“What matters most is the complete customer relationship journey—how each experience is orchestrated, how the bumps are handled, and what the customer’s perception is along the way,” said Adele Sweetwood, Vice President of Marketing at SAS. “The right mindset, approaches and technologies help manage experiences and help truly understand what customers want, to build loyalty, and ultimately to create higher profitability.”

The study acknowledges that successful customer experience management is hard. Integration and data issues can thwart attempts to deliver a single view of the customer. Cultivating a customer-focused culture can be a challenge. And proving ROI – tying customer experience efforts to business outcomes – is tricky. However, customer experience management leaders are rising to the challenge. Armed with an intrinsic belief in the business value of customer experience management, they’re putting the funding, processes, and strategy in place to overcome the hurdles.

What does a successful customer experience management leader look like?

  • They’re funding customer experience programs – 64 percent believe their programs are adequately funded.
  • They have the right skills, tools and systems. An overwhelming majority – around three quarters – say they have the proper support processes in place.
  • They use internal and external data efficiently and apply analytics more effectively than others.
  • More than half recognize the importance of multi-channel management, and are more likely to adopt new channels such as social media, mobile, and video, juggling as many ten customer channels.
  • They are more likely to tie customer experience strategy to corporate strategy; they reward, measure and report on customer experience efforts widely and regularly.
  • They employ a number of technologies for customer experience management, including online surveys, marketing operations management, real-time decision making tools, social media monitoring software, and content management systems.
  • They recognize the importance of emerging analytics technologies that analyze online behavior, social media sentiment, and text, as well as tools that deliver real-time analysis of large data sets.
  • They use a wider range of metrics, often more effectively, to report on their customer experience management progress – measures such as customer lifetime value, indirect traffic, social media sentiment, and upsell rates.

“Customer experiences reflect the clearest impact of digital transformation efforts in business today,” said Wilson Raj, Global Director of Customer Intelligence at SAS. ”Successful customer experience leaders view data, analytics and technologies as a unified digital business capability—to mirror the customer expectations of a unified relationship with the company, regardless of channels.”

For more information about this study please visit Lessons from the Leading Edge of Customer Experience Management.

About SAS

SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 70,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2014 SAS Institute Inc. All rights reserved.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
As people view cloud as a preferred option to build IT systems, the size of the cloud-based system is getting bigger and more complex. As the system gets bigger, more people need to collaborate from design to management. As more people collaborate to create a bigger system, the need for a systematic approach to automate the process is required. Just as in software, cloud now needs DevOps. In this session, the audience can see how people can solve this issue with a visual model. Visual models ha...
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, will discuss some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he’ll go over some of the best practices for structured team migr...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...