We live in an experience economy, where the ability to understand and manage experiences in four fundamental areas—customer, employee, product, and brand—distinguishes winners from losers. No one is impervious to the effect of experiences in each of these interdependent areas.
Yet, across every single industry, there is a significant gap between how important people say experience is compared to their level of satisfaction with their experiences as customers. Research suggests that for product development the central value-creating engineering tasks are idle for most of ￼the time (62%). If the tasks are active, engineers spend 40% of their time on pure waste, 29% necessary but non value adding activities, and only 31% on value adding activities.
If the belief is that brand presence will provide the answers, you take brand to be the associations that are made with a company, product, service, individual. These associations may be intentional – that is, they may be actively promoted via marketing and corporate identity, for example – or they may be outside the company’s control. As Customer Attitudes and actions are evolving increasingly Customers are ignoring advertising as they don't believe companies are telling the truth.
If you ask people which companies they admire, people quickly point to organisations like Apple, Amazon, etc. Ask how many layers of management these companies have, or how they set strategy, and you’ll discover that few know or care.
What people respect about the companies is not how they are structured or their specific approaches to management, but their capabilities—an ability to innovate, or to respond to changing customer needs, to engage with authenticity and make things easy, create meaningful experiences by delivering positive outcomes. Such organisational capabilities, are key intangible assets. You can’t see or touch them, yet they can make all the difference in the world when it comes to market value.
Understanding your customer’s journey is becoming increasingly critical, designing your Customer TouchPoints to deliver coherent information & a consistent experience is mission critical. Loyalty is driven by useful experiences backed by dependable outcomes, we will help you scale while building capability, while simplifying to ensure consistency of both experience and outcomes. Irrespective of a B2C or B2B business success depends on people connecting with people. Central to this is the notion of Employee Engagement. We’ve all heard of it. Some of us may even know that it’s important.
Engagement affects every person inside your organisation, and every person inside your organisation affects your bottom line. This idea is best expressed in the Service-Profit Chain, a model first put forward by a group of Harvard Researchers in the nineteen nineties that established links between profitability, customer loyalty, and employee engagement. The best business leaders know that an engaged workforce can drive innovation, increase performance and raise productivity, grow the business, improve customer care, and foster loyalty, both internally and externally.
Research firm Gallup reported that an astonishing 68.5% of U.S. employees are not engaged in their current roles. Within that group, 17.5% of the workforce characterise themselves as actively disengaged, which means that they are actively working to undermine the success of their own companies.
What’s worse, actively disengaged workers are not only unhappy and unproductive themselves, but their negativity actually rubs off on the people around them, turning potentially engaged employees into non-engaged workers. Gallup estimates that active disengagement costs American companies $450 – 550 billion in lost productivity each year.
The answers are in the data; but on its own, data is messy and meaningless. Across your operations and among your teams, you likely have data that answers some of your biggest product and market challenges.
The power of trust - Trust is hard to define, but we do know when it’s lost. When that happens, we withdraw our energy and level of engagement.
of customers don't believe that companies are telling the truth in ads.
of UK on line adults ignore advertising
of customers are not willing to share their data.
You likely also have data that uncovers entirely new challenges you’ve yet to identify. The problem isn’t the lack of data — the problem is that there’s no structured way to make sense of what’s out there.
Gathering data is essential these days, gathering quantitative operational data and qualitative experience data, blending these data sets to enable predictive indicators that can be acted up on starts to change the game. Operational data are things like sales data, finance data, HR data, tangible records of tangible activities. O-data is really helpful because it tells you about win rates, profitability by product line, and employee attrition. Most companies do pretty well with the operational data because it feels automatic. It’s easy to take for granted. Companies that don't become data driven, that don't demand immediate access to O-data, will eventually get left behind.
But O-data is no longer a competitive advantage. Companies need X-data. X-Data: This is the experience data, the human factor data — the beliefs, the emotions, and the sentiments. X-data is the human feedback that points to the gaps between what you think is happening and what’s really happening. Unfortunately, most organisations are O-data rich, and X-data poor. This is why there are still so many surprises in business: O-data is no longer a competitive advantage on its own.
O-data is data about the past. X-data is about the future. O-data tells you what happened. X-data tells you why it’s happening. Blending to create predictive insight and acting upon it raises the bar in terms of what is possible in terms of sustainable success..
The Experience Gap
There is evidence to support the fact that some companies avoid the surprises and are wildly successful. Companies that close the experience gap, that use experience data to stay one step ahead - these companies manage four core experiences. They obsess over product experience. They’re fixated on their customer experience. They steer every aspect of their employee experience, and they maniacally manage their brand experience. These four fundamental business experiences are not independent. They are interdependent.
Increasingly experience is identified as a top factor in purchasing decision, while eighty percent of CEOs believe that they are delivering a superior experience to their customers, in reality only 8 percent of their customers agree.
As we move further into an economy driven by experience, companies must actively manage key experiences.
It will take a combination of the right technology, a focus on people -- customers and employees -- and a mindset geared toward designing, adopting and delivering to meet and exceed expectations.
This is why organisations are investing more resources than ever into initiatives like Voice of Customer, Employee Engagement, User Experience, and Brand Management.
That’s also why it is more vital than ever to leverage a platform that drives real, quantifiable business outcomes.
That is where our solutions come into their own; we don't sell a solution - that happens to be at best a generic solution or at worst the solution to someone else's challenges, we work with your teams to tailor a solution that works for you, we will help you quantify the gaps, generate actionable insight, help you develop the capabilities that allow you to:
- differentiate against your competitors
- create the meaningful experiences
- build positive brand associations
- consistently deliver positive outcomes
Go from data to intelligence
Measure your customer experience and turn data into actions with the world’s most agile customer experience platform.
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Turn brands into religions
Strengthen brand equity, improve brand perceptions, and optimise your brand and communication strategy—all with software that’s as easy to use as everyday email.
Turn employees into ambassadors
first and only Employee Experience Management platform that helps companies reduce unwanted attrition, improve employee engagement, develop top performers, and build strong teams, by optimising the employee experience.
Turn products into healthy obsessions
We help organisations stay ahead of competition by making it easy to incorporate feedback into every product decision, prioritise product features, and build a data-driven product roadmap - all on a single platform.