10 Strategies to Drive Growth with
Total Experience Management (TXM)
This checklist will help you:
√ Make sure new customers come back.
√ Keep valued customers loyal.
√ Reverse declining customer lifetime value.
√ Deliver consistent brand experiences.
√ Attract and keep good people.
√ Serve more customers with less staff.
√ Spend less time analyzing reports.
√ Take more data-driven actions.
Drive CX - Total Experience Management is a software platform that provides a framework to systematically grow sales and profits with relationship management. Digital engagement apps connect store managers to their customers and teams in realtime on the frontlines.
Our customer engagement apps empower businesses to deliver exceptional in-store customer service at a lower cost, grow loyalty rewards enrolment to stay top of mind, and exponentially increase their NPS score by up to 150%.
Our employee engagement apps engage frontline teams in creating a better customer experience, foster a customer-centric agile culture, and benchmark performance for digital coaching and intelligent training paths.
Our comprehensive Total Experience Management (TXM) platform with custom reporting and AI insights help C-suite executives better understand how to deliver exceptional customer and workplace experiences while optimizing sales and margins.
Below are 10 essential strategies to make sure you are optimizing financial returns with your customer and employee experience and relationship management practices.
10 Strategies to Drive Growth with Total Experience Management
Implement real-time customer feedback.
Automatically send marketing offers after customer feedback..
Live stream good reviews on web and social sites.
Streamline customer loyalty onboarding.
Optimize customer service with digital engagement.
Alert store managers to immediately resolve issues.
Build a customer centric-culture with agile operations.
Minimize employee turnover with engagement.
Personalize targeted marketing campaigns.
Use AI to improve products, people and processes.
If you are a C-Suite level executive of a retail, hospitality or service chain, and would like to receive the E-book with more detailed information, click on the link below.
In the book, The Customer Service Revolution", John DiJulius refers to the Relationship Economy as an essential management tool in the age of the relationship economy.
". . . numerous companies have made Customer service their biggest competitive advantage, and are dominating their industries, and have made price irrelevant. As a result of this Customer service revolution, people are being treated differently, better, and in a way like never before. This is a result of how companies and management are treating their employees and how employees are treating each other and the Customer—which ultimately permeates into people’s personal lives at home and in their communities...."
Here's the bad relationship economy news . . .
58% of American consumers will switch companies because of poor customer service. (Microsoft)
53% of shoppers believe their feedback doesn’t go to anyone who can act on it. (Microsoft)
Only 1 in 26 customers will tell a business about their negative experience; the rest simply leave. (Esteban Kolsky)
13% of customers tell 15 or more people if they have a negative experience. (Esteban Kolsky)
Here's the good relationship economy news . . .
68% of consumers say they are willing to pay more for products and services from a brand known to offer good customer service experiences. (HubSpot)
Businesses can grow revenues between 4% and 8% above their market when prioritizing better customer service experiences. (Bain & Company)
Increasing customer retention rates by just 5% can increase profits by between 25% and 95%. (Bain and Co)
Happy, engaged employees are 23% more productive. (Gallup)
Do You Know your Return on Relationships Score™?
If you a marketing, operations, or HR manager of a retail or hospitality chain - You may be leaving money on the table.
Getting your customers in one more time per period, or adding one extra item each visit could increase revenue by up to 30%.
Growing customer engagement and loyalty requires a clear understanding of what attracts customers to your brand.
Send personalized communications and offers to stay "top of mind" create a habit of return visits. Target promotions to increase visit frequency and average basket size.
We all intuitively know that employee happiness employees impacts customer happiness, and vice versa. But, did you know that happy, engaged employees are 23% more productive and can positively impact your labor margins.
To understand if you are fully realizing returns from your customer and employee experience and relationship management
Ask yourself these questions:
Could I be losing customers to competitors without knowing why?
Am I confident there is nothing in your operations that is frustrating customers or employees?
Do my employees know what they need to do to keep customers coming back?
Have I removed all barriers to employees delivering an excellent customer experience.
Are my marketing communications annoying, or appreciated?
Can I group my customers into buying types, and predictably grow customer return visits and basket size?
Have I created a workplace culture that attracts and retains top talent?
Am I fully engaging, empowering and inspiring employees to be their best?
Do I acknowledge and reward customer and employee behaviors I want to scale?
If your answers are a resounding YES . . .
Congratulations! You are fully realizing your ROR, or "Return on Relationships".
If not, we'd like to help you calculate your Return on Relationships score to better understand what opportunities to optimize your sales and profits with TXM.
Need Help Growing Sales and Profits with TXM?
Hi, I'm Dale. I help marketing, operations, and HR managers of retail and hospitality chains, realize financial returns on experience and relationship management.
Book a complimentary 30 minute call to uncover opportunities to increase customer value, reduce employee turnover, and optimize operations with TXM.