Customer Service Revolution | Customer Experience & Employee Experience Insights 041: How do Apple, Starbucks, and Southwest Outperform the Rest of Their Industries Regardless of the Economy? Here's How!
Chief Revolution Officer John DiJulius of the DiJulius Group answers this question: Why do companies like Apple, American Express, Tesla, Chick-fil-A, Starbucks, Amazon, Southwest, and Zappos always outperform the rest of their industry regardless of the economy? It is the service, stupid! Today, discover how one company increased revenue to over $2 million a month by improving customer experience.
What you will learn:
- How a small number of companies have now redefined what customers expect from brands.
- Most products and services today are of similar quality. The differentiator of products and their functionalities no longer plays a role in the customer's purchase decision.
- In a time of uncertainty, there are only 3 certainties in life: Death, Taxes, and Customer Experience.
- Most CEOs fast-talk a commitment to customer experience but slow-walk execution.
- Research has shown that in past recessions, companies that invest in and deliver superior customer experience during a downturn emerge, producing shareholder returns three times larger than average.
- A study analyzes the stock market performance of the top-rated companies in customer experience versus the bottom-rated during the period of the last U.S. recession from 2007 to 2009.
-
- The worst CX companies had a negative 57% ROI; many of them didn't survive.
- The stock market struggled at a negative 16%.
- The best CX companies posted a positive 6%.
- In order to know what victory looks like, you must have an ROX (Return on eXperience) dashboard. The ROX dashboard should have 3-4 Key Performance Indicators directly tied to the level of customer experience delivered from every customer-facing employee and department.
- How a mortgage company increased revenue to over 2 million dollars a month by improving their customer experience.
Resources mentioned:
https://thedijuliusgroup.com/the-customer-service-revolution-podcast/
https://watermarkconsult.net/blog/2019/01/14/customer-experience-roi-study/
If you enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go over to our podcast page at https://thedijuliusgroup.com/the-customer-service-revolution-podcast to download it.
***
EPISODE CREDITS:
If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.
Find out more at https://emeraldcitypro.com