The Net Promoter Score (NPS) development can be traced back to business strategist and author Fred Reichheld. In 2003, Reichheld introduced NPS in his Harvard Business Review article “The One Number You Need to Grow.” He aimed to create a simple yet effective metric to measure customer loyalty and accurately predict business growth. Reichheld realized […]

Understanding and prioritizing customer satisfaction (CSAT) is crucial for business growth and success. CSAT is a critical metric of a company’s performance in meeting customer expectations and fostering loyalty. By measuring satisfaction levels, businesses can retain existing customers and attract new ones through positive word-of-mouth and referrals. CSAT also provides insights into areas for improvement, […]

What is the customer experience? One famous definition of customer experience (CX) comes from Shep Hyken, a renowned customer service expert: “Customer experience is the sum total of all interactions a customer has with a company. It goes beyond just providing good customer service, which is reactive, to delivering an experience at every touchpoint, which […]

Listening to your customers is critical in improving your bottom line and getting repeat business. But understanding what they think and feel as they interact with your company–from visiting your website to calling support–is tricky.  A Voice of the Customer program is as close as you’ll get to reading your customers’ minds. It’s a strategic […]

In 2024, there’s more competition in banking than ever, and banking leaders are responding by focusing more on the Customer Experience. Simultaneously, technology has quickly advanced, and banks are working hard to provide seamless customer experiences across multiple channels. Banking leaders have taken on the responsibility for solving this complicated problem. Institutions are innovating to […]

Customer expectations have changed quickly over the last couple of decades, and banking leaders are realizing they need a new approach to meet the expectations of consumers who are used to top-notch experiences – both in-person and digital.  Additionally, the banking industry faces unprecedented competition, fueled by emerging fintech startups, digital banking platforms, and evolving […]

Market research has become indispensable for growth in just about any industry. Whether you’re a startup looking to carve a niche in a crowded market or an established company aiming to maintain your edge, you need to know your target audience and the overall competitive environment before you can be successful.  But what exactly is […]

Today’s customers have more choices than they’ve ever had. To stay competitive, businesses need to deeply understand their target market and effectively meet their expectations. Customer satisfaction is one of the main goals of market research, with 20% of all market research spending going toward CRM and customer satisfaction surveys.  However, 23% of organizations don’t […]

Market research allows organizations to acquire, analyze, and interpret data to better understand consumer behavior, industry trends, and competitive landscapes. It helps businesses gather and analyze information in a systematic way that facilitates data-driven decision-making and business growth. Overall, it tells you if your business aligns with consumers or your own customers, and makes sure […]

In the age of rapid technological advancements, customer expectations are evolving at an unprecedented pace. Today, customers seek more than just products and services; they demand seamless, personalized, and efficient interactions with brands. This paradigm shift has forced leaders to consider better ways of delivering amazing customer experiences.  Technology like Customer Experience Automation (CXA) has […]