Category: Customer Experience

For you to successfully trade cryptocurrency there is a need to have a CFD account. A CFD account simply put is a trading instrument that helps you as a trader to better speculate on cryptocurrency price changes. The preferred cryptocurrency is monitored as the prices fluctuate either on the rise or to the fall. In…
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Some projects and ideas are magnetic. They attract large numbers of people.

And some are sticky. The folks who show up stick around and make the project part of their lives on an ongoing basis.

Rarely, something is both magnetic and sticky. Often, it’s neither.

In movies, that’s obvious. It costs far less to make The Big Lebowski than a Marvel movie.

But the metaphor applies to just about any sort of creative project.

We often err on the side of ‘special effects’. It’s easier to staff it up, to spend the money, to aim for slightly-above average. Committees and corporations are happy to pay extra for reassurance and consistency. It trends toward mediocre, because mediocre feels predictable and manageable.

But the race to spend more and more on special effects, on promo, on hype, on industrial might–it might be worth more to take the time and invest the effort to design something great instead.

The wind gets all the attention. The wind howls and the wind gusts… But the wind is light.

The current, on the other hand is persistent and heavy.

On a river, it’s the current that will move the canoe far more than the wind will. But the wind distracts us.

Back on land, the current looks like the educational industrial complex, or the network effect or the ratchet of Moore’s Law and the cultural trends that last for decades. The current is our persistent systems of class and race and gender, and the powerful industrial economy. It can be overcome, but it takes focused effort.

On the other hand, the wind is the breaking news of the moment, the latest social media sensation and the thin layer of hype that surrounds us. It might be a useful distraction, but our real work lies in overcoming the current, or changing it.

It helps to see it first, and to ignore the wind when we can.

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The word is thousands of years old, and it probably comes from the Aramaic: “I will create it as I speak.”

We’re much more likely to believe what we say than the other way around.

Outline, illustrate and argue and you will make it more likely that you believe what you’re saying.

Which is a great reason to be really careful about the arguments we make, because we might end up believing them.

CSAT stands for customer satisfaction. The most common way of measuring customer satisfaction is to use a customer feedback survey. To keep things simple for customers and ensure that as many people as possible give feedback, the survey usually has just one question that asks customers to rate their satisfaction on a scale of 1 to 5. Most CSAT solutions take the results of that question and calculate the percentage of customers who responded with a 4 or a 5 (meaning satisfied or very satisfied). The higher the percentage, the better the CSAT score. The goal of any contact center is to achieve customer satisfaction. The CSAT score is one of the easiest ways of measuring this. It can highlight potential areas for improvement and help contact center managers improve the service they provide. Full article: https://www.8×8.com/blog/what-is-csat
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Companies use all sorts of metrics and techniques to evaluate their customers’ satisfaction with their products and services. Google reviews, social media activity, and customer service surveys all help companies learn about their customers’ experiences.
Contact centers use a few different metrics to measure customer experience. Floor-level metrics assess the efficiency of the contact center’s operations, and include Average Speed to Answer (ASA), Auxiliary Time, Handle Time, and more. Net Promoter Score is the most common customer satisfaction metric for contact centers.
What is a Net Promoter Score?
A net promoter score (NPS) is a market research metric that measures how likely a customer is to recommend a brand to someone else — be it a friend, family member, or colleague. The score falls on an index between -100 to 100, and measures the overall satisfaction and loyalty of a customer.
Net Promoter scale.
To calculate NPS scores, you must present your customers with a survey question: “How likely are you to recommend our product or service to a friend or colleague?” The answers are scored on a 0-10 scale. Answers can be categorized into three groups;
Promoters (9-10): These customers are satisfied with the product or service. They’re likely to recommend the company to others, and continue to be loyal to the company. Promoters make up 80% of business referrals, and contribute to business growth over time.
Passives (7-8): These customers are neutral. They’re somewhat satisfied with the company’s product or service, but they might switch to a competitor’s product or service with little thought. Passives aren’t likely to promote your company to others, but they’re also not likely to engage in negative word of mouth.
Detractors (0-6): These customers aren’t satisfied with the product or service. Not only are they unlikely to recommend the company to a friend or colleague, but they also might hurt the company’s reputation through negative word of mouth.
Net Promoter calculation.
To calculate your NPS score, subtract the percentage of customers who are detractors from the percentage of customers who are promoters. The number will fall between -100 to 100.

TIP:
% of Promoters – % of Detractors = Net Promoter Score

Why is a Net Promoter Score important?
Companies, including contact centers, use NPS to assess customer satisfaction and loyalty, make improvements to their business services, and grow their business through referrals. To summarize, the main benefits of measuring and achieving high NPS are increased customer loyalty and long-term business growth.
How to leverage Net Promoter Score in your call center.
Luckily, contact centers have access to modern technology that can help them learn more about metrics like Net Promoter Scores, and helps to improve and leverage them.
For example, Fonolo Voice Call-Backs improve customer experience as well as various metrics, including ASA, CSat, and NPS.
Fonolo’s Portal provides data-rich reporting, including metric notifications, reports, and real-time data.
By using technology to assess and monitor metrics like NPS, contact centers can use data to improve their customer service and operations.
 
How to determine the right NPS for your contact center.
The ideal NPS score is relative to your company’s industry. Let’s take a look at some NPS benchmarks for different industries:
Average NPS by Industry in the USA, 2020

Streaming Media – 39
Supermarkets – 34
Airlines – 29
Banks – 21
TV/Internet Services – 0

If you’re a supermarket using competitive benchmarking for your industry, you’ll want your NPS to be higher than average, or 34. Remember, everything is relative. An NPS of 10 would be great for a TV/Internet Service provider given their average, but would be poor for a streaming media business.
Contact center benchmarks vary by industry, so you’ll need to find out what your competitors’ NPS are to see how you compare. Experts say that a range of 0 to 30 is good, while scores over 70 are phenomenal.
Final thoughts.
Net Promoter Scores are one effective metric for assessing your customers’ satisfaction and loyalty to your contact center. These scores are relative to your industry, so competitive benchmarking is the best way to assess whether or not your NPS score stacks up. If you’re interested in learning more about NPS and other metrics for your contact center, book a free demo for Fonolo’s portal today.The post Blog first appeared on Fonolo.

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Two centuries ago, shoemakers in England were called snobs. (It sort of rhymes with cobbler).

Good ones combined care with quality. They put in the effort to make a shoe that exceeded expectations, and leaned into the possibility of their craft. The others were simply hacks, trying to get by with little effort.

In an ironic and cruel twist, the term “snob” was taken from these committed craftspeople and used to describe someone who looked down on others, particularly those with fewer resources. A hard-working cobbler was viewed with disdain, because they had no silver spoon. It was also used to describe someone who gave those with more money or caste a persistent benefit of the doubt that they might not deserve.

And for a century the term has been pushed beyond cultural economics to describe someone who is a defender of scarcity and the status quo. A wine snob, for example, insisted on an expensive vintage, preferably from certain parts of Europe.

The circle comes around, as it often does. The best kind of snob is a throwback to that original cobbler and their customers, someone who can see past appearances or the traditional approaches and instead looks for care and quality. Which can happen regardless of where someone comes from. It’s not enough to be a cobbler. You need to be one who cares.

Effort and good judgment lead to good taste and cultural leadership.

We shouldn’t settle.