Brands with the strongest customer experience management process in place, don’t just let it happen!
C-levels, top managers, senior executives, need to understand this challenge. Does it make sense to manage, “improve,” and measure customer experience on processes and products there were never designed with customer experience in mind?
By asking a simple single question, you will predict the potential growth of your organization. It was the promise of a consultant named Fred Reichheld, and the whole business world started to questioning old solid traditions such, the annual customer satisfaction study, the market research ‘old’ world and the need to build scorecards combining different KPIs to control the sanity of the business organizations and monitoring the value creation. It was 2003, I did my first NPS project in 2006. Fred promised, “This number (the NPS) is the one number you need to grow!”. After 11 years and several projects under my belt, can I honestly say Fred has kept his promise? Continue reading “The One Number You Need to Explain: Net Promoter Score”
In the last years, a lot of researchers have invested time and resources into a new approach to Natural Language Processing: forget linguistic algorithms, let’s turn the words into mathematical vectors and plot them in a 3D space. Then, applying linear algebra, it allows us to perform specific tasks, such topic detection, sentiment analysis, etc. without even using a single code of pure linguistic algorithms. To nice to be true? Let’s discover the magic word of vectors using a very simple example.
Once again several clients asked me about the reason Net Promoter Score shows high volatility in a trend. The main issue is how to show improvements (or decreases) of NPS and how to assess if the change is statistically significant. (remember, in statistic significant doesn’t mean the finding is important or that it has any decision-making utility, it simply means that you are very sure that the statistic is reliable: not due to chance)
An effective Customer Experience Management (CEM) program is a perfect blend of different ingredients. A good mix of a clear strategic vision, measurable goals, key performance indicators, structure in place, and change management efforts. To support that, one of those elements, it is a robust CEM/VOC platform.