ROCHELLE PARK, NJ, May 5, 2008 – The pursuit of customer loyalty through customer experience is high on the corporate agenda, yet companies still fail to understand the totality of customer expectations and therefore deliver commodity products and services, Strativity Group’s new Global Benchmark study discovers. The 379 executive participants study examined organizations’ complete customer experience cycle from customer experience definition to customer-centric organizational alignment as well as their mechanism to respond to customer feedback.
Although the study indicates that 80% of the executives strongly agree that customer strategies are more important to companies’ success than ever before, companies fail to design and deliver those strategies and, as such, lose customer commitment and loyalty. Study results highlights include:
- Only 43.9% (up from 40.0% in 2006) believed that their companies deserve their customers’ loyalty
- 42.6% responded that their companies’ products and services are NOT worth the price they charge (down from 44.0% in 2006)
- 56% responded that their companies have differentiated and beneficial products and services (up from 49.5% in 2006)
- 43.7% said their companies will take any customer that is willing to pay (up from 38.3% in 2006)
- Only 34.8% indicated that their company has a dedicated customer experience management role
- Only 27.2% of the respondents said that the definition of the customer experience is well-defined and communicated in their companies
- Only 28.8% responded that employees have the tools and authority to solve customer problems (down from 34.0% in 2006)
- Only 23.9% agreed that their employees are well-versed in how to delight customers
“The Customer Experience Management global benchmark study provides us with a sobering reality. Companies still fail to get what it takes to meet customer needs, let alone delight them,” explained Lior Arussy, President of Strativity Group, Inc. “Especially in this economic environment, companies must get serious about understanding and delivering the complete customer experience.”
The benchmark study highlights a critical gap between companies’ recognition of the importance of customer-focused strategies and their ability to successfully develop and implement such strategies. The executives surveyed responded overwhelmingly that their companies lack the three foundational elements critical to any customer-centric program:
- A clear customer experience strategy
- Employees with the tools and empowerment necessary to deliver extraordinary experiences
- A systematic mechanism to transform customer feedback into actions
Arussy added, “Customers are looking for partners to help them solve their complete problem. Companies, in contrast, too often sell individual products or services and fail to deliver the complete customer experience customers seek. This study reveals that this failure is the result of inadequate organizational structure and focus.”
To obtain the study Executive Summary, please Click Here.
About the Study
The research was conducted via a structured, anonymous, on-line survey which was used for assessment and qualitative insight. 379 surveys were submitted by executives from North America, Europe, Asia and Latin America. Participating companies represent a wide range of sizes and business types. For more details about the Global CEM Benchmarking study, please visit www.Strativity.com, email [email protected] or call (201) 843-1315.
About Strativity Group
Strativity Group, Inc. is a global customer experience research and consulting firm which assists organizations with the creation of differentiating experiences and profitable customer relationships. Utilizing research, consulting, education and communication programs, Strativity design customer experience strategies for its clients utilizing a methodology to develop actionable plans and drive organizational change.
Strativity Group, Inc. works with Global 2000 companies as well as emerging businesses around the world. Our clients include American Management Association, AMO, Capital One, CATIC, Circle K, CA, FedEx, Herbalife, Honeywell, Lockheed Martin, Nokia, Nordea, Nortel, SAP, Siemens, University of Pennsylvania, Verint and Wyeth.
Among other milestones, Strativity Group established the industry’s first and only CEM Benchmark Study and developed the industry’s first CEM Certification Program. For more information on Strativity Group, please visit https://strativity.com/ or email [email protected].
(201) 843-1315 ext. 1009