Companies are particularly vulnerable to a decline in customer experience during periods of rapid growth.
Fairfield, CT (PRWEB) July 21, 2015
Companies are particularly vulnerable to a decline in customer experience during periods of rapid growth. The growth then becomes short-lived once customers realize the experience is no longer what it was. To ensure that CX keeps pace with rising revenue, companies must monitor certain metrics or risk high rates of Churn, the loss of customers. Denise Graziano, President of Graziano Associates has identified nine Critical Churn Triggers™ that companies should monitor to maximize customer experience and reduce customer attrition.
“There are specific metrics every company should be monitoring throughout a customer’s journey with them,” says Graziano. A recent Gartner Study stated that by 2016, 89% of companies expect to compete mostly on the basis of Customer Experience. Consider what often happens to a favorite “best kept secret” business, product or service. Once they grow rapidly some of what was great about them is lost. “CX is not a “nice to have” approach; it is critical to long term business success,” says Graziano. Most companies’ main obstacle to addressing Customer Experience is a lack of strategy, according to Forrester Research. “As part of creating CX strategies for our clients, I identifed nine areas that must be routinely assessed to maintain a postive customer experience and growth. Of the nine areas, some are more obvious than others. The less obvious ones pose the most danger to a company if left unchecked,” says Graziano. “The result is lost growth and revenue.”
Below are the nine Critical Churn Triggers™:
1) Perception and Perspective
3) Service and Conflict Resolution
5) Value over Price
6) Employee Engagement
7) Poorly/Undeveloped Managers
8) No Formal Client Retention/Nurturing Efforts/Programs
9) Siloed Information within Companies
The cause of companies not successfully addressing Customer Experience can be attributed to many issues, from misguided thinking about CX, a half hearted approach, poor imitations of others’ actions, just assuming they are immune or not really understanding CX and the impact it has on their bottom line.
Ms. Graziano holds executive round tables in New York and Connecticut to help executives pinpoint their Critical Churn Triggers™ (CCT’s) and understand the importance of CX to the success of their company. In these small, high-level meetings, Ms. Graziano reveals her research on CX and executives learn and share their CX experiences. They also explore why many companies fail at CX when they attempt to address it on their own. Common reasons include a lack of a customer-centric culture, and attacking the symptom and not the cause of the problem, causing the problem to repeat itself.
To have Denise Graziano speak to your corporation or sales team regarding CX or EX, contact her at 203-254-0195. Denise Graziano is a leading authority in helping fast growth, mid-market companies to improve customer and employee experience. A strategic thinker and leader with over 28 years of business experience, Denise is a speaker and author of numerous articles on customer experience, client retention, sales, and trade show practices.
Founded in 1992, Graziano Associates helps fast-growing mid-market companies in the business-to-business market turn customer and employee interactions into opportunities — to deepen loyalty and engagement, and set companies up for growth.