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According to the American Customer Satisfaction Index, US customer satisfaction remains near record lows at about 74%. Why? One reason is that 40% of customer service leaders say their companies see their departments as a sunk cost rather than a source of value creation.
To learn more about the state of customer satisfaction today and what to do about it, the EEA has assembled a worldwide panel of customer experience experts for a live meeting on Nov. 14 at 11 am ET, which will be summarized in an ESM article and featured in its library of how-to and reference information. Register here to attend the live session.
As reported in Forbes by business coach Kathy Haun, a recent online survey of 2,000 Americans finds that:
- 53% of consumers indicate that the experience a company offers matters as much as the products or services it provides.
- 48% of consumers are willing to pay more for quality customer service.
- Almost half, 49%, state that the relationship a company nurtures with its customer base is as significant as its offerings.
- Product quality: A commanding 70% of consumers are willing to leave their current brand if they find a higher-quality alternative.
The panelists will address such questions as:
- What is the general state of customer service and what can or should be done about it? Is it generally viewed as a sunk cost to be minimized or as a source of growth and value creation?
- Are most organizations measuring the cost of defections and low referrals?
- If so, why do they continue to tolerate high levels of dissatisfaction?
- Why are companies using virtual assistants when most appear to be useless?
- Are companies deliberately using bots, long wait times, and low-level employees to discourage people from calling for customer service?
- What is the ROI of doing customer service right?
The five panelists appearing on the upcoming live and record EEA YouTube show will pick up where customer experience Alex Mead expert and others left off in the last EEA show on the subject of why customer experience remains so poor.
Expert panelists are:
Erin Armendinger is CEO for Compass Experience Labs, a multi-million-dollar customer care organization with 30-plus customer partners and several hundred associates. The company says it partners with the best brands to deliver a turnkey customer service offering (assessments, hiring, training, coaching, analytics, and more) that drive loyalty and long-term value.
Graham Hill is Founder, Janus svp, an advisory firm which manages transformation projects for clients primarily in the retail financial service, telecoms, automobile and aviation industries.
Ramon Portilla is Founder, HumanX Insight, a customer experience analytics firm; former Director UX Research, Meta; Former Senior Director, Customer Insights, Walmart.
Alex Mead is Global Customer Service Experience Director, working with multiple companies through Alvarez & Marsal (Global) and directly.
Allan Steinmetz is Chief Executive, Inward Strategic Consulting, a global agency specializing in marketing, branding, change management, and communications.
Register here to attend the live session.
ESM Is Published by The EEA: Your Source for Effective Stakeholder Management, Engagement, and Reporting
Through education, media, business development, advisory services, and outreach, the Enterprise Engagement Alliance supports professionals, educators, organizations, asset managers, investors, and engagement solution providers seeking a competitive advantage by profiting from a strategic and systematic approach to stakeholder engagement across the enterprise. Click here for details on all EEA and ESM media services.
1. Professional Education on Stakeholder Management and Total Rewards
- Become part of the EEA as an individual, corporation, or solution provider to gain access to valuable learning, thought leadership, and marketing resources to master stakeholder management and reporting.
- The only education and certification program focusing on Stakeholder Engagement and Human Capital metrics and reporting, featuring nine members-only training videos that provide preparation for certification in Enterprise Engagement.
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- ESM at EnterpriseEngagement.org, EEXAdvisors.com marketplace, ESM e–newsletters, and library.
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- EEA YouTube Channel with over three dozen how-to and insight videos and growing with nearly 100 expert guests.
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