Entries For Forrester's Voice Of The Customer Awards 2010 — Wow!

We just finished judging the entries for Forrester's Voice of the Customer Awards 2010. Announcing the winners will have to wait until we’re onstage at the Customer Experience Forum in New York on June 29. But there is something I want to announce right now: I am really impressed by the entries! :-)

Because I was also a judge last year, I couldn’t help but notice some big changes from last year. Here they are in no particular order:

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CEO As Chief Customer Officer

In preparation for our upcoming Customer Experience Forum in New York at the end of June, I’ve been having phone discussions with our speakers and their people. Yesterday Robinette Dixon from Sprint pointed out something I hadn’t quite realized. Two of the companies that are speaking have a lot in common despite the fact that they could hardly be in more different industries.

First there’s Sprint. Dan Hesse took over as CEO of Sprint, which is headquartered in Kansas, in December of 2007.  He immediately made customer experience a priority and set out to ingrain customer experience into the company’s culture and processes. You can see evidence of the results in the 15 percentage point rise Sprint made this year in our Customer Experience Index.

Then there’s H&R Block. Our Day Two speaker, Sabrina Wiewel, is Chief Tax Network Officer at that company, which is also based in Kansas. But the bigger coincidence (no, this isn’t a post about Kansas) is that H&R Block also got a new CEO recently: Russ Smyth, who took over in August of 2008. Like Hesse, Smyth made customer experience a priority. Among other changes he literally flipped the corporate org chart upside down to put customers at the top, and re-engineered how the field offices interact with customers.

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US Banks And Canadian Banks Under The Web Site User Experience Review Microscope

I’m quite pleased to announce that we just published two reports that grade the user experience at major US banks and major Canadian banks, respectively.  What makes these reports special is that our colleagues who serve the eBusiness role published their own complementary reports on the same day. You can see their US report here and their Canadian report here.

Here’s some background: For several years Forrester has published annual reports that ranked public-facing bank sites from the perspective of an eBusiness professional. This year our customer experience research team collaborated with our eBusiness research team to create our own grading reports tailored to the unique needs of customer experience professionals. The result is a stereoscopic view of 12 banks (six in each country) from the different perspectives of two professional roles that work closely together in real life.

The reports from the customer experience team dive deep into user experience issues. They grade how well customers can accomplish their goals on bank sites. The reports from the eBusiness team summarize some of these findings and add in a competitive benchmark of bank content and functionality.

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CxPi vs. Stock Performance

We recently posted the results of a Watermark Consulting study that showed a correlation between Forrester’s Customer Experience Index (CxPi) rankings and stock market performance.

We asked our researcher Andrew McInnes to run the numbers again and see whether they held up to close scrutiny. Here’s what he did:

  • Reviewed the 2007 CxPi rankings.
  • Identified the 10 highest-ranked public companies (CXP Leaders) and the 10 lowest-ranked public companies (CXP Laggards). 
  • Calculated the average annual total returns of the Leader group and the Laggard group
  • Compared the results for each group to the  S&P 500 index for years 2007 – 2009.


Andrew’s  analysis confirmed Watermark’s findings: The customer experience leaders consistently outperformed the other two groups; the customer experience laggards consistently fell short.

Does this prove that good customer experience leads to good stock performance (or that the CxPi picks hot stocks)? No. Stock performance relies on many factors, including human irrationality.

However, the correlation does highlight a relationship we all intuitively understand: Companies that treat their customers well perform better than companies that don’t.  (And it sure looks like treating your customers poorly is a very bad idea, especially in an economic downturn.)

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Multichannel customer experience: Replacing my Verizon FiOs Router

Recently I had one of my own customer experiences that shows just how hard it is to get all the elements of a multichannel interaction working right.
 
Here’s some context: Over a year ago I switched from Comcast to Verizon FiOS for my home television service and internet access. So far I’ve been very satisfied with my choice – I like the FiOS product better and the Verizon people I’ve dealt with have been great, especially the woman who signed me up and the guy who installed the service.
 

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The Browser Wars Are Back! You Can’t Run Or Hide So Here’s What To Do

Harley-Manning_small [Posted by Harley Manning]

 

The customer experience team at Forrester is currently updating our Web site review methodology, which will get us to Version 8. I’ll write more about that in a subsequent post but I wanted to get it on the table (or in the blogosphere – pick your metaphor) by way of explaining why we’ve been looking at which version of what browser to use as our default for conducting research.

 

In trying to answer that question we had one of our Researchers – Rich Gans – talk to people at Mozilla, Microsoft, Apple, and Google to get insight into where they’re going with their browser offerings and how they advise site developers to deal with the current landscape.

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