At CX Talks Atlanta 2018, Will Payman (VP of Strategy at Macquarium), gave a compelling presentation on the growth of voice experiences. He takes us back to June 29th, 2007 when the smartphone was launched. He reminded us how many industry pundits questioned its viability, yet it soon began to play a role in every step of a customer's journey. 10 years later, there are now 230M smartphones in the US, with over 70% of adults owning one.
Find yourself in a group of customer experience (CX) professionals, and phrases like “delighting the customer” or "creating moments of wow” will pepper the discussions. You will learn that delighting your customers will result in increased loyalty, share of wallet and a positive word of mouth. Few would argue that delivering a great CX provides you a competitive edge, but what return should you expect from delighting the customer?
Customer Expectations and "Moments of Wow”
At the Customer Experience Professionals Association’s conference in Phoenix this year, the Corporate Executive Board presented some interesting insights from The Effortless Experience. The author of the book Matt Dixon cited a study with over 125,000 people who had interacted over the phone with contact-center representatives or through self-service channels such as the web, voice prompts, chat, and e-mail.
Conventional wisdom is that exceeding customer expectations deepens loyalty, however the study detected only a slight increase in loyalty after customer expectations had been met. It turns out that creating delight consistently is difficult and only succeeds in 16% of the interactions with an incremental operating cost between 10 to 20%.
I have a severe case of "App Fatigue." While I enjoy discovering new mobile apps, the new app inevitably joins dozens of others languishing in trailing screens or folders. My seldom-used apps take up space on my phone and keep my wireless company happy by consuming bandwidth quota during countless app upgrades.
Since its launch, the beacon technology has garnered considerable market interest. Curious minds across many industry segments have been asking themselves...
Business As Usual Has Been Disrupted
Time and again, customers embrace brands that go beyond selling products and services to providing meaningful utility in their lives. Consider the disruptive offerings by companies like Uber, who transformed a functional task into an effortlessly enjoyable one, changing consumer behavior seemingly overnight. Every day, we read about more companies like Uber, who are upending traditionally well-ensconced business models—not by inventing the new, but by re-imagining the customer experience for a particular market segment, applying the many possibilities of emerging technology to significantly improve the value that the experience provides.
“We do not currently support Apple Pay!!” According to numerous industry articles over this past weekend from the likes of Verge, Mashable, GigaOm, a number of retailers—Walmart, Gap, Best Buy, Old Navy, 7-Eleven, Kohl’s, Lowe’s, Dunkin’ Donuts, Sam’s Club, Sears, Kmart, Bed, Bath & Beyond, Banana Republic, Stop & Shop, Wendy’s, and most major U.S. gas station chains—have dug their heels in. Collectively, these retailers have formed a joint venture (MCX), to build their own mobile payment app, called CurrentC, which is planned to launch in 2015. MCX has been working on a mobile payment solution since 2011, to avoid paying the 2-3% credit card transaction fees charged by the likes of Visa Inc.
As we work on refreshing the Macquarium brand, I have been reflecting on our roots, and where we are headed. Prospects often ask me what makes Macquarium different? My answer is a steadfast “our people, how we think, and the results we deliver for our clients”. Yes, we have methodologies, great case studies and awards, but it's employees, their talent, passion for the work they do, and client success that drive an agency’s success. It’s people that start companies, design products and services, buy those products and services, consume them, and essentially shape the brand. It’s people that spark innovation, create the culture, and harness the energy to do great things for clients. So, it’s a fitting time to salute the 22 year heritage Macquarium enjoys as a human-centered digital pioneer. It’s also fitting to share some excitement about where we are headed. In addition to our people, it’s about…