The CX Factor: Creating Standout Customer Experience

Customers judge your company on more than just the product you sell. They’re evaluating every interaction, from start to finish: Was the website easy to navigate? Were the employees friendly and helpful? Did their order come quickly (and in one piece)? They want convenience, consistency and connection. All that adds up to a customer experience, or CX, as it’s known; and those two little letters have the power to make or break your company. The benefits of good customer experience are huge. Satisfied customers are more loyal and will pay a premium. But the drawbacks of bad CX are even greater: almost three-quarters of customers would switch to a competitor after just two bad experiences. So how do you create a genuinely great customer experience?

That question is at the center of everything that Daniel Herrmann works on. Daniel is the vice president of product strategy and customer insights at NCR. It’s his job to make NCR work better for its customers. And to him, CX is more than a strategy; it’s a mindset that infuses every aspect of your business. Together we’ll explore the building blocks of exceptional CX: how you measure, design, and implement CX. Plus, why he thinks CX creates more efficient, innovative, and aligned companies.

So, join us, as we pay our respects to CX and walk a mile in Daniel's shoes. Because the customer journey of a thousand miles begins with a single step.

Highlights:

• Meet Daniel Herrmann (1:43)
• Customer experience is anything and everything (3:12)
• The benefits of good CX (4:49)
• Without CX, customers won’t stick around (5:47)
• Why overall customer satisfaction has been declining for years (6:16)
• Putting the C in CX (8:45)
• The role of leadership: articulate and communicate (9:08)
• A customer-oriented culture (10:10)
• The most common mistake that companies make when it comes to CX (12:14)
• Measuring CX: Net Promoter Score (12:58)
• Creating a narrative with your data (14:04)
• Why you need quantitative and qualitative data (16:17)
• How good CX leads to innovation (17:11)
• Customer journey maps (18:24)
• The four building blocks to make CX a systematic competence (20:16)
• Top priority: a process for collecting feedback (21:48)
• Daniel’s top takeaways (24:04)

Links:

• Cadence Bank Website
• Cadence Bank Twitter
• Cadence Bank LinkedIn
• Daniel Herrmann LinkedIn
• NCR Website
• Harvard Business Review - Understanding Customer Experience
• Harvard Business Review - 10 Ways to Boost Customer Satisfaction
• PwC - The Future of Customer Experience
• American Customer Satisfaction Index - US Overall Customer Satisfaction

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producers, sheena.cochran@cadencebank.com or danielle.kernell@cadencebank.com.