Your Monthly Guide to Customer Experience Transformation
January was a busy month for us here at Temkin Group. After a successful beta period, we fully launched the CX Institute, which provides online training to instill a customer-centric mindset within employees across an organization. Not only does this new product fit nicely alongside Temkin Group's other services, but it also fills a critical gap we've seen in our clients' CX transformation efforts. Right now we're offering a 25% discount for 60 days!
Last month we also published an update to one of our most popular pieces of CX content,  The 6 Laws of CX , which anyone can download for free. In addition, we released reports on consumer channel preferences and the CX plans of large companies along with a new infographic with 15 CX factoids, including great ROI data.

For those of you who are providers of CX products or services, we just started accepting applications for our CX Vendor Excellence Awards. These awards are a wonderful opportunity to get recognized for your great work! Nominations are due by March 8th.

And if you're looking to sharpen your customer experience skills, check out  our schedule of public workshops The first two this year will be held on February 27 in London (almost sold out) and on March 6 & 7 in Miami ( customer journey mapping).
Temkin Group is a leading CX research, advisory, and training firm. We help the world's largest brands accelerate their transformational journeys towards customer-centricity and build loyalty by engaging the hearts and minds of customers, employees, and partners. Our team combines CX thought leadership with a deep understanding of the dynamics of organizations to accelerate results.

15 CX Factoids: CX Efforts & ROI 
Temkin Group published an infographic with 15 CX Factoids from our 2017 research that covers CX efforts and ROI. Here are the key takeaways:

  1. A bad experience costs money. 
  2. Bad experiences spread quickly. 
  3. Good CX means more sales. 
  4. Good CX means positive word of mouth. 
  5. CX maturity leads to financial success.
  6. Promoters are valuable customers. 
  7. Companies have strong CX ambitions. 
  8. CX efforts are still immature. 
  9. Multiple-choice surveys are on the decline. 
  10. VoC programs lack action orientation. 
  11. Satisfaction is the key metric. 
  12. Companies have weak CX metrics programs. 
  13. CX leaders drive CX maturity. 
  14. Other priorities get in the way. 
  15. People love being CX professionals.

Free eBook: The Six Laws of Customer Experience
Just like the three laws that govern all of physics, there are a set of fundamental truths about how customer experience operates inside a company. In the free ebook  The 6 Laws Of Customer Experience, we outline the fundamental truths that define how organizations treat customers. The six laws are:

  1. Every interaction creates a personal reaction.
  2. People are instinctively self-centered.
  3. Customer familiarity breeds alignment.
  4. Unengaged employees don’t create engaged customers.
  5. Employees do what is measured, incented, and celebrated.
  6. You can’t fake it.

Report: CX Expectations and Plans for 2018
We surveyed companies with $500 million or more in annual revenues about their customer experience efforts over the past year and their plans for 2018 and beyond. Here are some of the highlights:

  • 86% of companies saw a positive impact from their CX efforts in 2017.
  • 81% of companies expect CX to be more important in 2018 than it was in 2017.
  • 62% of companies expect to spend more on CX in 2018 than they did in 2017.
  • Companies plan to increase their spending the most on VoC software and chat bot vendors.
  • Companies plan to increase their focus the most on online self-service experiences and the least on phone self-service.
  • Companies plan to increase their effort the most on customer insights and analytics.

Report: Channel Preferences Benchmark, 2018
We surveyed 10,000 U.S. consumers about their channel preferences when performing 12 different activities and compared their responses to the results of similar studies we conducted in previous years. The report examines the preferences across age groups for:

  • Five interaction channels: Self-servicing on the computer, interacting on a mobile phone, chatting with an agent on the computer, talking to someone on the phone, and meeting with someone in-person.
  • Twelve common interactions: Check the Delivery Status of a Purchase You Made, Check the Balance on a Savings or Checking Account, Update Your Address on an Account After You Move, Purchase a New Book, Apply for a New Credit Card, Change the Beneficiary on a Life Insurance Account, Resolve a Technical Problem with Your Computer, Purchase a New Auto Insurance Policy, Select a Life Insurance Policy, Investigate a Mistake in Your Monthly Cell Phone Bill, Open a New Investment Account, and Schedule a Medical Procedure.

Other Recent Posts
Here are some additional recent posts on Customer Experience Matters ® blog:
Best Practices Reports
Benchmarking Data
Temkin Group Research Plans and Updates
We have quite a few exciting new reports underway, including Customer-Centric Artificial Intelligence , Tech Vendor Product & Relationship Satisfaction, and Propelling Experience Design Across the Organization .

  • Research & Advisory subscriptions. Get access to leading-edge best practices, assessments, and benchmark data, in addition to ongoing advice from our CX Transformists, to help keep your efforts on track.
  • CX training and workshops. We deliver leading-edge CX practices through in-house workshops, open-enrollment workshops, and customized training programs.
  • Assessments of CX plans and capabilities. We identify gaps and opportunities in your CX plans and competencies.
  • Informative and compelling speeches. We will inform and inspire your internal or client audiences.
  • CX Institute training. Use our online training to instill a customer-centric mindset in employees across your organization.