Make Money. Save Money. Any Questions?
Given that senior executives like to get things done…
… it shouldn’t come as a surprise that touchy feeling stories of customer love aren’t going to cut it in the C-Suite.
Lynn Hunsaker of Clearaction:
Money talks. And logic. Upper management may need to be reminded about the source of revenue: investors leave when customers leave, not the other way around. Earnings per share increases when profitable customers organically expand share of budget with the company. Show the % of customers retained, their revenue contribution, their purchase expansion beyond the first product they bought, their influence on other customers and prospects.
Patrick Gibbons of Walker:
Ultimately I think it must make business sense (which leans toward the “logic” side). If upper management sees that a CX project led to cost savings or revenue gains it will garner some attention. This is more persuasive than observing industry trends, monitoring Net Promoter scores, or believing it is the “right thing to do.”
Colin Shaw of Beyond Philosophy:
Most senior management are interested in cost savings, certainly when I worked at British Telecom before starting your philosophy the way I approached it was to show how improving the customer experience would save money. I’ve never worked in implementation that doesn’t save money. This gets their attention.
Denyse Drummond-Dunn of C3Centricity:
From my experience the best way is through either a test case, or through the use of the cost of not responding to customer complaints appropriately. When you can show the impact on the business, not executive will be deaf. Many FMCG companies till work with TARP’s Damage Model, since it is one of the simplest to use of any trying to model the impact of customer complaints on the business