To better compete in the US luxury automotive landscape, leadership at Audi of America had focused on improving three fundamental areas: the brand, the products, and the dealership. And they had made huge progress.
But according to Jeri Ward, director of customer experience at Audi of America, “The customer experience had not kept pace.”
Troubling data points made that clear: Customer loyalty was at 40%, and sales satisfaction was in 26th place out of 31 brands. But what really drove the problem home was this quote from an Audi customer: “The whole time the salesman spoke with me, he was eating Skittles out of a bag in front of me.”
Just imagine that you’re trying to buy a $60,000 to $90,000 car from someone who can’t be bothered to stop cramming junk food into his mouth. Would that work for you? I didn’t think so.
In this excerpt from Jeri’s speech at Forrester’s Forum For Customer Experience Professionals East, she describes some of the tangible actions Audi took to solve this problem by creating a customer-centric culture that inspires passion for the Audi experience. The results the firm’s efforts produced are a testimony to its success: In just three years, sales satisfaction went from 26th place to 12th place, and the company has experienced 30 months of record sales.
As always, we welcome your comments! And if you're interested in seeing more great speakers like Jeri, check out our upcoming Forum For Customer Experience Professionals in Los Angeles in October and London in November.
Like CX Forum East, the theme of our Los Angeles event is “Boost Your Customer Experience To The Next Level.” We picked that theme to showcase examples of companies that improved the customer experience they provide, whether they were just starting out, already leading their industry, or somewhere in between.
To kick off the event, Forrester Vice President and Principal Analyst Megan Burns will describe the four-step path to customer experience maturity that she details in her new report. The fascinating thing about this study is that when we started it, we thought we’d uncover several paths that companies have followed to get to success. But what we found instead is that there is only one path that’s proven to work, and many paths that lead to dead ends and failure.
In addition to speeches and track sessions by Forrester analysts like Megan and my co-author Kerry Bodine, our speaker lineup features senior leaders from companies that recently made major improvements to their customer experience. These executives include the president of Days Inn Worldwide, the CMO and VP of CRM at Sears, the chief customer officer at Eli Lilly, and the president and CEO of Safelite Autoglass.
Who doesn’t know Walgreens? It’s an iconic American brand that’s been around for over 100 years.
But at Forrester’s Forum for Customer Experience Professionals in New York on June 26, Graham Atkinson showed us a Walgreens that’s totally different from the one we’ve come to know. Graham is the Chief Marketing and Customer Experience Officer at Walgreens, and he’s leading the charge to transform the company from one that traditionally differentiated based on location, location, location to one that differentiates based on experience, experience, experience.
In this video excerpt from his speech, he describes three initiatives that are currently underway:
Delivering the well experience.
Transforming the community pharmacy
Taking the Walgreens brand to the world
As always, we welcome your comments! And if you're interested in seeing more great speakers like Graham, check out our upcoming Customer Experience Forums in Los Angeles in October and London in November.
Those are the fundamental questions answered for Wells Fargo by its CMO, Jamie Moldafsky, at Forrester’s Forum for Customer Experience Professionals in New York on June 25.
Going into the event, I didn’t envy Jamie’s task. The four large banks that dominate the U.S. retail banking industry don’t have stellar reputations for delivering a great customer experience. Feedback from their own customers bears this out: In Forrester’s Customer Experience Index, Bank of America, Wells Fargo, Citibank, and Chase received scores ranging from 60 to 69 on a 100 point scale. In contrast, credit unions have an average score of 82, and regional banks like SunTrust Bank, PNC, and TD Bank have scores in the high 70s.
But to be fair, when you have 70 million customers spread across more than 90 businesses – as Wells Fargo does – delighting everyone might just be mission impossible. And yet that’s exactly what Jamie and her team are trying to do on their journey to “get to wow.”
In the following video snippet of her speech, Jamie explains why customer experience is important to Wells, what she’s trying to accomplish, and the factors that make her mission both challenging and critically important.
As always, we welcome your comments! And if you're interested in seeing more great speakers like Jamie, check out our upcoming Customer Experience Forums in Los Angeles in October and London in November.
Way back in January I spoke at the Luxury FirstLook conference put on by Luxury Daily in New York (a terrific event, by the way). Several of the other speakers intrigued me. One, in particular, gave a speech that I immediately wanted to bring to attendees at Forrester's Forum For Customer Experience Professionals East: John T. A. Vanderslice, the global head of luxury and lifestyle brands at Hilton Worldwide (those brands being Waldorf Astoria and Conrad).
Here’s one of many things John said that struck me: "Today's luxury buyers make investments of passion." That’s a far cry from the way customer experience (CX) practitioners usually talk about emotional engagement. But it struck me as an authentic way to describe super-affluent buyers who’ll pay to reenact the life of a Roman gladiator or to take a trek through the wilds of Nepal.
I ambushed John on his way out the door and recruited him to speak at our forum, which he did earlier this week. He was great. And he was also gracious enough to answer some questions that we posed to him, which we’re now happy to share with you.
1. When did your company first begin focusing on customer experience? Why?
Marketing and customer experience are two sides of the same coin: Marketers are responsible for communicating the brand promise, and customer experience professionals are responsible for making sure that the promise is kept.
It’s that synergy between marketing and CX that led us to invite Jamie Moldafsky, CMO at Wells Fargo, to speak at Forrester’s Forum for Customer Experience Professionals in New York on the morning of June 25. As a run-up to our event, Jamie took the time to answer a few questions about why Wells Fargo cares about customer experience and how its approach to CX has evolved over the years.
Q: When did your company first begin focusing on customer experience? Why?
Treating customers with courtesy and respect has been a core value at Wells Fargo for more than 160 years. Back in 1888, its agents were given the following instructions: “Proper respect must be shown to all — let them be men, women, or children, rich or poor, white or black—it must not be forgotten that the Company is dependent on these same people for its business.”
There is a staggering amount of customer experience work going on in the healthcare industry these days. From providers (the docs), to pharma companies and payers (health insurers), everyone is trying to figure out what to do and how to do it.
I’m excited to finally be able to talk publicly about our CX Forum East in New York at the end of June. The theme this year is “Boost Your Customer Experience To The Next Level.” We picked that theme because ever since last fall when we published Outside In, our book about customer experience, people have been asking us to show them how to either get started on the path to CX maturity or accelerate their progress. This forum is all about helping people create customized roadmaps for their organizations.
Megan Burns will kick off the first day of the event with a speech about “The Path To Customer Experience Maturity.” The speech will debut new research about companies that successfully adopted new competencies and changed employee behavior. Attendees will be the first ones to get copies of Megan’s new report that details her findings – I’m editing the report and I am really jazzed about what she’d discovering.
Kerry Bodine, my co-author for Outside In, will kick off the second day of the event with a speech about customer experience innovation. Her speech will also be based on new research. She’ll detail her findings into what distinguishes incremental CX improvements from true innovations. She’ll also describe how companies can create innovation engines within their organizations – the “road map” for the advanced class. For those of you who want to leap ahead of the pack and truly differentiate through customer experience, this is a “must see” presentation.
As an avid personal investor I’m often appalled by cable shows that report on the markets as if they were non-stop sporting events. Seriously, how many people care how the NASDAQ or the Dow are doing on any given minute of any given day? But apparently there are enough day traders out there that noon reports from the floor of the New York Stock Exchange are as compelling as half-time reports during the NFL playoffs.
I have to confess that there is one piece of financial analysis that I do look forward to – though in my defense, this is an annual occurrence and not an hourly update. The analysis comes from Jon Picoult, a gentleman who runs Watermark Consulting.
For a while now Jon has been taking the data from Forrester’s Customer Experience Index (CXi) and using it to do a thought experiment. In this experiment he looks at what would have happened if, back when we first published the CXi, an investor had taken two equal buckets of money and created two U.S. stock portfolios. The first portfolio would have consisted of the top 10 publicly traded companies in our index (the customer experience leaders). The second portfolio would have consisted of the bottom 10 publicly traded companies in the index (the customer experience laggards).
In Jon’s model the investor would have held each portfolio for a year, then sold them both and taken his profits (or losses). He would have then used the proceeds to purchase the new year’s leaders and the new year’s laggards, continuing this cycle of selling and buying for all six years that the CXi has been in existence.
Intriguing, right? Even those of us who believe in the business value of customer experience (or in my case can prove it through research) don’t normally look at the impact on stock performance.
There are six award categories for the Outside In Awards:
Best customer experience strategy.
Best customer understanding program.
Best customer experience design.
Best customer experience measurement program.
Best customer experience governance program.
Most customer-centric culture.
You can find all of the information you need on our Outside In Awards home page. The 2013 nomination forms are all available there, and nominations are due by 5:00 p.m. ET on May 3rd. You can also review this year's timeline, get answers to FAQs, and check out information about past customer experience award winners.