For many companies, attracting more likes, followers, mentions, retweets and higher SEO rankings has become a high priority. Why? Social media and web analytics feeds a narcissistic streak that I suppose runs through us all.
But what if we focused on making the lives of our customers better, easier, delightful? Customer experience is not bleeding edge. There are great blogs, amazingly entertaining sites and Twitter pages devoted to highlighting whom is getting it right...or not. And there's proof in that pudding: Companies that provide excellent customer experiences can command 7% higher prices and are 13 times more profitable than companies that struggle with customer experience (data from Strategic Planning Institute).
The C-Suite has caught on. In a survey of 300 corporate execs conducted by the Economist Intelligence Unit, a heady 80% believe a customer experience correlates to higher customer loyalty. What's more, 76% believe it correlates to higher revenue and 75% believe it leads to higher profits (news flash: The believers are correct).
Here's the gap, and it's a shocking gap: Only 46% of those 300 corporate execs work for a company that tracks customer engagement.
We've all heard the saying that you get what you measure. Why are executives who "get it" not measuring customer engagement? Call Innovatude if you want to close your customer engagement/measurement gap.