
Customer Experience
Shape your customer experience ecosystem and prioritise investment on the certainty of evidence.
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Shape your customer experience ecosystem and prioritise investment on the certainty of evidence.
In 2019, changes to the macroeconomic environment, consumer preferences, the rise of fintech, the experience economy and intensifying competition were only a few of the key forces impacting our client, a national home loan brokerage.
Ken Roberts, Managing Partner and Founder of Forethought Research talks about the Creative’s challenge to understand the discrete emotions that drive purchase behaviour; the inventory of those emotions; and how effective the communication is at eliciting those emotions.
Rapport is a familiar concept, used in everyday conversation to describe interactions with people. Psychologists try to develop rapport with their clients; sales representatives use rapport to deepen their relationship with customers and increase sales; and new acquaintances gauge the presence of rapport to infer the future of their relationships.
The Juster scale in its many applications has been found to be superior as a predictive measure of future purchase behaviour compared to other intentions scales. However, the distribution of responses, has been found to affect the predictive accuracy of the scale. Not surprisingly, the greater the variation in responses, the less accurate the predictions. Studies have shown that purchase probabilities can be over or under estimated by the Juster scale, but on average, it is the most consistent in accurately predicting actual purchase rates.
For decades, customer experience research and its derivatives such as the net promoter score remained the primary tool to inform retention strategy. However, marketers have recently witnessed the fundamental metamorphous of customer experience research. In this article, ken explores the misconceptions and follies of customer experience research and the four principal justifications for investing in customer experience insights.
At Insights University 2016, we conducted a short survey to explore opinions held by marketing leaders on eminent industry trends. See what our respondents consider to be the most important sources of consumer insight now (February 2016), and in the foreseeable future.
At Insights University 2016, we conducted a short survey to explore opinions held by marketing leaders on eminent industry trends. See how respondents expect the managerial importance of NPS to change from now (February 2016), to the foreseeable future.
THE EROSION OF TRUST: Surely THE HOTTEST topic in 2017 has been brands’ erosion of Consumer Trust. Forethought has investigated Trust – considering the consequences to organisations of breaching or failing to achieve Trust – and how this impacts on the drivers of choice or purchase intention which flow into revenue, loyalty and market share. There is positive news for the Board, Exec, Marketers and Corp Affairs: the underpinnings of Trust, at a brand and category level, can be scientifically validated and analysed to clearly inform management action.
A difficult truth for business leaders is… once you work for a brand, you can no longer see that brand in the same way your customer does. Rarely, is your opinion of your brand representative of your customers’ opinion. It is one of the business world’s Faustian bargains – sign an employment contract, lose sight of what it is to be a customer.