Highlights From Adobe, AIG Asia Pacific, Cisco, Cox Communications, EMC, Findel Education Resources, Fiserv, Intuit, Oracle, Rackspace, and UMB Bank.
WABAN, Mass., Jan. 7, 2014 /PRNewswire/ — Temkin Group released new research, Lessons in CX Excellence, 2014. The report examines the customer experience (CX) efforts within the 11 companies that were finalists in Temkin Group's 2013 CX Excellence Awards: Adobe, AIG Asia Pacific, Cisco, Cox Communications, EMC, Findel Education Resources, Fiserv, Intuit, Oracle, Rackspace, and UMB Bank.
Last month, a panel of judges selected these finalists based on their CX activities, results, and the sustainability of their efforts. The report highlights how these organizations are creating capabilities across what Temkin Group calls the four customer experience core competencies: Purposeful Leadership, Compelling Brand Values, Employee Engagement, and Customer Connectedness. The report also includes the detailed nomination forms submitted by these companies.
"The finalists provide a great set of case studies on customer experience. Anyone who is interested in customer experience can learn a lot from studying these 11 organizations," states Bruce Temkin, Managing Partner of Temkin Group.
Here are some of the results reported by the finalists:
- Cisco cut Cisco.com's software download time by 81%, it has ensured that 94% of customer and partner orders book in 24 hours or less and removed two days of shipping that resulted in annualized customer freight savings of $2 million.
- Cox Communication's Closed-Loop Feedback team closes 100% of alerts and does it 47% faster than the company's previous closed-loop process, which ultimately contributes to 34% less customer churn.
- The percentage of customers who said they would recommend the Findel Education Resources to a colleague improved from 52% in January 2011 to 79% in January 2013.
- EMC's Total Customer Experience program is responsible for a 37% reduction in critical impacting events, with hard and soft savings that exceed $20 million. The total cost savings from the TCE program is estimated at $38.4 million.
- UMB Bank has established three pilot locations that offer free advisory experiences to customers, and each of these sites has greatly exceeded the sales performance of its peer branch. At these three locations deposit account volume is 19, 4.3, and .42 percent higher than at the bank's control locations in Kansas City, St. Louis, and Denver respectively
This research report can be accessed from the blog, Customer Experience Matters, at ExperienceMatters.wordpress.com or at the Temkin Group's website, www.TemkinGroup.com.
For more information about Temkin Group, visit www.TemkinGroup.com.
About Temkin Group: Temkin Group is widely recognized as a leading customer experience research and consulting firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys. Temkin Group combines customer experience thought leadership with a deep understanding of the dynamics of organizations to help accelerate results. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building four critical competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm's ongoing research identifies leading and emerging best practices across a wide range of activities for engaging the hearts and minds of customers, employees, and partners. Temkin Group also publishes Temkin Ratings (www.TemkinRatings.com), an annual evaluation of companies based on consumer feedback. For more information, contact Bruce Temkin at 617-916-2075 or send an email.
About Bruce Temkin: Bruce Temkin is widely recognized as a customer experience thought leader and is Customer Experience Transformist and Managing Partner of Temkin Group. He is also the author of a very popular blog, Customer Experience Matters® (ExperienceMatters.wordpress.com). Prior to forming Temkin Group, he was a VP at Forrester Research for 12 years. Bruce is a highly demanded speaker who consistently receives high marks for his content-rich, entertaining keynote addresses. He is also the co-founder and Chair of the Customer Experience Professionals Association (CXPA.org), a global non-profit organization dedicated to the advancement of customer experience management.
Customer experience matters is a registered trademark of Temkin Group.