|By Business Wire||
|April 29, 2014 09:03 AM EDT||
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.
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.
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Sep. 1, 2015 07:00 PM EDT Reads: 262
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Sep. 1, 2015 06:45 PM EDT Reads: 470
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Sep. 1, 2015 04:30 PM EDT Reads: 387
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Sep. 1, 2015 04:15 PM EDT Reads: 433
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Sep. 1, 2015 04:00 PM EDT Reads: 196
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Sep. 1, 2015 04:00 PM EDT Reads: 207
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 1, 2015 03:00 PM EDT Reads: 439
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Sep. 1, 2015 03:00 PM EDT Reads: 509
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 1, 2015 02:45 PM EDT
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 1, 2015 02:45 PM EDT Reads: 136
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
Sep. 1, 2015 02:30 PM EDT Reads: 212
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 1, 2015 01:00 PM EDT
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Sep. 1, 2015 12:45 PM EDT Reads: 476
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 1, 2015 12:30 PM EDT Reads: 912
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Sep. 1, 2015 12:30 PM EDT Reads: 259