TheCustomer News Ep7

TheCustomer News – Episode 7

In TheCustomer News Episode 7, Rafer and guests tackle:

Fashion Fallout – How COVID forever changed the fashion industry

The impact on fashion retail has been seismic.  Sales have plunged 75% in March year on year.  Also there’s been an 188 percent increase in requests for mental health support from people who work in the industry in the U-K.  Mike, that’s a staggering statistic.

Retail workers have borne the brunt of the pandemic anxiety and this is proof of the effects of that.  But I also think this is a call to retailers to stop paying lip service to the value of an optimize EMPLOYEE Experience (EX) as well as the customer experience (CX).  The technology is out there – Is the willpower?

Loyalty at a Premium – Study shows Retailers Benefit from Immediate Loyalty Benefits.

A new study shows that 86% of retailers that offer benefits within the first week say their loyalty program members shop at least once a week.  That number goes down to 63% when retailers provide benefits within the first month. So Mike, investing in your customer yields an ROI if you do it quickly.

Time-to-engage is becoming a big deal – and it only makes sense.  Any relationship – personal, customer, or otherwise – will decay over time.  It makes GREAT sense to engage your program members as quickly as possible and now we have data to prove it.

C-Suite Not the Sweet Spot for CX – Big Mistakes with Customer Experience Programs

While companies are embracing improving the customer experience, most are looking in the wrong direction, apparently.  Too many CX programs are launched based on what people inside the organization want or think they know rather than the customer.

There’s nothing wrong with asking the C-Suite for guidance but let’s be clear – the point of this exercise is to understand what CUSTOMERS want and not what company executives personal perspectives biases project on to them.

Roundtable Discussion, TheCustomer News Episode 7 – Navigating Corporate Structures to Enable Better CX

Roundtable guests:

  • Sam Stern, Senior Manager CX at NewBalance
  • Carl Doty, Principal at Atlaas
  • Dave Frankland, Principal at Atlaas

Catch past episodes here!

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