Customer Experience Leadership Survival Guide – Part 4

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Installment 4 of 5

5 Reality based actions to make customer experience work inside your operation.

Make Customers an ASSET of Your Business

I call this “’customer math.”  And this is about building passion across the organization and establishing a simple rallying cry for leaders.  It goes like this:

Rather than talking about customer retention, let’s begin each meeting saying the raw numbers of:

  •       Incoming customers – outgoing customers = net growth (or loss) of customer asset in that period
  •       Customers who recommended us
  •       Top five reasons why customers left

For many companies, just putting together these simple articulations of “incoming” customer requires an alignment in definition and certainly an alignment in data and databases as every part; every silo frequently has varying definitions.  This is essentially the outcome of the experience you are delivering to customers – I call it “customers vote with their feet” on whether they stay or leave.  And I have found it very powerful to always begin meetings with this simple report card of “earning the right” to customer growth.

At one Client Company, we wanted a visual to depict the outcome of the customer math each month or quarter — so we came up with a pretty unique idea with marbles.  We determined the mathematical equation for the number of customers a single marble would represent.   Then we began to begin every meeting with two bowls of marbles: one with a bowl filled with marbles representing the lost customers and one bowl filled with marbles representing the new customers.  It really got people’s attention at this company when the bowls were even, or when the “lost” marbles exceed the “new” customer marbles. 

Decide if this type of simple talk track for beginning key meetings and giving leaders something to be passionate about regarding customers will help your company.  Then determine your version of this simple metric…and how to translate and communicate it across your organization – in your own unique style.

Below is an audit you can begin with that we cover in one of my Chief Customer Officer Boot Camp sessions. For a PDF of this slide, please click here: Customer Management Review

Click here to read Installment 1.

Click here to read Installment 2.

Click here to read Installment 3.

Republished with author's permission from original post.

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