67% of Companies See Fiscal Benefit with Implementation of Chief Customer Role

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According to a study conducted by the Chief Customer Officer Council, the first peer-led advisory group for Chief Customer Officers(CCO’s), 67% of companies who implemented and kept a CCO for at least two years saw an increase in revenue while those who let their CCO go saw a decline.

Curtis Bingham, Founder and Executive Director of CCO Council, believes that a CCO is essential to an organization for more than just direct revenue reasons. “The CCO,” Bingham says “is a way for organizations to get back in touch with their customers on a more personal level, and with the advent of social media and immediate, constant customer interaction, the cycle back to that sort of communication is not surprising.”

Bingham also found that the most effective CCO’s are those who report directly to the CEO. According to research recently completed by the council, the CCO is the most fragile of the C-suite with the average tenure being 29.4 months, the CMO by comparison is 34.7 months, the CIO is 53 months, the CFO is 57 and the CEO is 74 months. The reason why it is so fragile is because often he or she does not report directly to the CEO. As soon as the company hits a revenue road bump they cut costs. In addition, the growth rate of CCO’s since 2000 was about 41% and was very strong before the recession. The biggest growth took place in 2007 and started to taper in 2008, 2009 and a huge drop in 2010. Many CCO’s are viewed as a cost, and companies don’t know how to do anything during a recession other than manage costs.

Learn more about the CCO role at the Next Generation Customer Experience conference in LA, May 23-25. For more specifics, attend the session discussing the case for creating a separate customer experience department led by Curtis N. Bingham, Jasmine Green, Vice President, Chief Customer Advocate, Nationwide Mutual Insurance Company and Helen Burt, SVP and Chief Customer Officer, Pacific Gas & Electric as they address driving customer and brand loyalty through the Chief Customer Officer role.

Other topics to be discussed and debated by such headlining companies as BMO, REI, Citrix, Godiva, CVS Caremark, Sprint, Zappos are: Profiting from your customer experience strategies, mobile and social media brand experiences, metrics around the customer experience, engaging your corporate culture and more.

For more information, please visit http://www.the-customer.com.

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Michael Salkinder
WBR
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