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Customer experience for dummies
You know that creating an engaging customer experience is essential to keep your company relevant and top of mind. Barnes and Kelleher offer practical, easy-to-implement solutions for incorporating customer engagement into your business plans to attract loyal, happy customers.
Book
Quality of Service in Public Transport Based on Customer Satisfaction Surveys: A Review and Assessment of Methodological Approaches
The growth of literature in the field of quality of service in the public transport (PT) sector shows increasing concern for a better understanding of the factors affecting service quality (SQ) in PT organizations and companies. A large variety of approaches to SQ have been developed in recent years owing to the complexity of the concept; the broad range of attributes required to evaluate SQ; and the imprecision, subjectivity, and heterogeneous nature of the data used to analyze it. Most of these approaches are based on customer satisfaction surveys. This paper seeks to summarize the evolution of research and current thinking as it relates to the different methodological approaches for SQ evaluation in the PT sector over the years and to provide a discussion of future directions.
Journal Article
Effect of critical incidents on public transport satisfaction and loyalty: an Ordinal Probit SEM-MIMIC approach
Supplying public transport systems with high levels of service quality is fundamental for retaining users and attracting new ones. Policies that improve transit service quality will ultimately lead to more sustainable travel patterns. Measuring overall service quality implies measuring the quality of several specific attributes and is prevalently evaluated through the perceptions of users, using satisfaction rates. In this study, we demonstrate that there is a further element that can influence users’ perceptions, the so-called critical incidents (CI), defined as encounters that are particularly satisfying or dissatisfying. The concept is not restricted to ratings of the predefined product or service attributes, because customers who experience CI remember them well and can usually describe the experience. We implement a framework that includes CI and is innovative for several reasons. Firstly, we introduce attribute-specific (e.g. reliability, safety, comfort) CI to explain attribute-specific satisfaction levels, and then we model these with latent constructs allowing for measurement error in recalling the CI. We also demonstrate that using an Ordinal-Probit approach leads to more accurate results than its numerical counterpart, the latter possibly presenting biased results. Finally, we present a full Structural Equation Multiple Cause Multiple Indicator (SEM-MIMIC) model, which corrects for heterogeneity in the perceptions of users regarding satisfaction with the various service attributes, with the overall service, and with loyalty. For these purposes, we analyse an extensive database (96,763 interviewed passengers) derived from Customer Satisfaction Surveys in the railway services offered in the hinterland of Milan. Our main contribution to the literature is that we show that the occurrence of a CI has a substantial negative impact on passenger satisfaction for all service attributes. As it is a policy-related variable, it can be managed directly by the public transport (PT) administrators. To better plan and improve PT services, avoiding CI in specific items should be the strategy to follow. On the other hand, reliability, and added-value services are the primary service attributes that have a positive effect on satisfaction with the overall service and, in turn, on loyalty. Our model can be useful for PT administrators as it sheds light on how to improve the service according to users’ preferences, and by considering the differences among user categories.
Journal Article
Despite Efficiencies, Mergers and Acquisitions Reduce Firm Value by Hurting Customer Satisfaction
Most researchers focus on the effect of mergers and acquisitions (M&As) on investor returns and overlook customer reactions, despite the fact that customers are directly impacted by these corporate transformations. Others suggest that in M&A contexts, a dual emphasis of customer satisfaction and firm efficiency is both likely and beneficial. In contrast, the authors demonstrate that M&As not only do not yield a dual emphasis but also cause a decline in customer satisfaction to the extent that they eclipse any gain in firm value from an increase in firm efficiency. A quasiexperimental difference-in-differences analysis and an instrumental variable panel regression provide robust evidence for the dark side of M&As for customers. The authors use the attention-based view of the firm to demonstrate that post-M&A customer dissatisfaction occurs because of a shift in executive attention away from customers and toward financial issues. In line with the related upper echelons theory, they find that marketing representation on a firm’s board of directors helps maintain executive attention on customers, which mitigates the dysfunctional effect of M&As on customer satisfaction. This research identifies a negative M&A–customer satisfaction relationship and highlights executive attention to customer issues and marketing leadership as factors that mitigate this negative relationship.
Journal Article
The ultimate question 2.0 : how net promoter companies thrive in a customer-driven world
\"In the first edition of this landmark book, business loyalty guru Fred Reichheld revealed the question most critical to your company's future: \"Would you recommend us to a friend?\" By asking customers this question, you identify detractors, who sully your firm's reputation and readily switch to competitors, and promoters, who generate good profits and true, sustainable growth. You also generate a vital metric: your Net Promoter Score. Since the book was first published, Net Promoter has transformed companies, across industries and sectors, constituting a game-changing system and ethos that rivals Six Sigma in its power. In this thoroughly updated and expanded edition, Reichheld, with Bain colleague Rob Markey, explains how practitioners have built Net Promoter into a full-fledged management system that drives extraordinary financial and competitive results. With his trademark clarity, Reichheld: Defines the fundamental concept of Net Promoter, explaining its connection to your company's growth and sustained success, Presents the closed-loop feedback process and demonstrates its power to energize employees and delight customers, Shares new and compelling stories of companies that have transformed their performance by putting Net Promoter at the center of their business Practical and insightful, The Ultimate Question 2.0 provides a blueprint for long-term growth and success\"--Provided by publisher.
BOOK
Multiclass Confusion Matrix Reduction Method and Its Application on Net Promoter Score Classification Problem
The current paper presents a novel method for reducing a multiclass confusion matrix into a 2×2 version enabling the exploitation of the relevant performance metrics and methods such as the receiver operating characteristic and area under the curve for the assessment of different classification algorithms. The reduction method is based on class grouping and leads to a special type of matrix called the reduced confusion matrix. The developed method is then exploited for the assessment of state of the art machine learning algorithms applied on the net promoter score classification problem in the field of customer experience analytics indicating the value of the proposed method in real world classification problems.
Journal Article
Nincompoopery : why your customers hate you, and how to fix it
\"Nincompoopery -- terrible customer service, idiotic business processes, and soul-crushing management practices -- surrounds all of us. We lose time, patience, and profits as stuck-in-the-past organizations actively prevent us (and our customers) from getting the value we (and they) deserve. Can't anybody change this? CEO and award-winning business writer John R. Brandt says we can. In Nincompoopery: Why Your Customers Hate You -- And How to Fix It, he leverages research across thousands of companies to show leaders how to find and kill the corporate stupidity that drives customers crazy. More importantly, he offers concrete examples of how any organization -- large or small, and regardless of industry -- can innovate in ways that delight customers and attract top-level talent\"--Dust jacket.
Book
Internet banking service quality and its implication on e-customer satisfaction and e-customer loyalty
Purpose
– The purpose of this paper is to examine the internet banking service quality and its implication on e-customer satisfaction and e-customer loyalty.
Design/methodology/approach
– A total of 1,000 questionnaires were distributed for internet banking customers and 520 were returned (resulting 52 percentage of response rate).
Findings
– The results confirmed that the all four dimensions (personal need, site organization, user friendliness, and efficiency of website) are distinct constructs. The results also indicated that internet banking service quality consisting of four dimensions has appropriate reliability and each dimensions has a positive significant relationship with internet banking service quality. The efficiency of banking website is the important aspect of internet banking service quality. The finding found that the relationship between internet banking service quality, e-customer satisfaction and e-customer loyalty are significant.
Practical implications
– The results show that the higher level of internet banking service quality significantly impacts to e-customer satisfaction and consequently leads to e-customer loyalty and a lower intention to leave the relationship with bank.
Originality/value
– This study proposes a model to understand the effect of internet banking service quality on e-customer satisfaction and e-customer loyalty in developing country. The constructs truly reflect the dynamism of customers’ banking relationship and a better understanding the attitude on internet banking will help the bankers in implementing more effective marketing strategies.
Journal Article