Measuring customer loyalty, the degree to which customers engage in positive behaviors toward your company/brand, is essential for your customer experience management (CEM) program. We know that customer loyalty is key to driving business growth (e.g., increased revenue, market share). Customers can exhibit many different types of loyalty behaviors toward a company, from recommending your company […]
Author Archive | Bob Hayes
What is the Value of International Polls about the US Presidential Candidates?
I saw the results of a recent opinion poll about the US presidential election that amazed me. While many recent polls of US voters reveal a virtual tie in presidential race between Barack Obama and Mitt Romney, a BBC poll surveying citizens from other countries about the US president found overwhelming support for Barack Obama over Mitt […]
The Big Data Problem in Customer Experience Management: Understanding Sampling Error
Big Data is being touted as the next big thing for businesses. The benefits of Big Data are apparent in many areas, from search results and recommendation engines to customer experience management. By analyzing massive amounts of quickly expanding, diverse data, businesses are able to gain the insights they need to beat their competitors. A […]
Battling Misinformation in Customer Experience Management
I read an article last week in Scientific American that has implications about the field of customer experience management (CEM). The article, Diss Information: Is There a Way to Stop Popular Falsehoods from Morphing into “Facts”?, discusses the phenomenon of widely held beliefs that are not true. Think about President Barack Obama’s US citizenship status still […]
Free Research Report on the State of Patient Experience in US Hospitals
Download Free Report from TCELab: Improving the Patient Experience The Centers for Medicare & Medicaid Services (CMS) will be using patient feedback about their care as part of their reimbursement plan for acute care hospitals (see Hospital Value-Based Purchasing (VBP) program). The purpose of the VBP program is to promote better clinical outcomes for patients […]
Is the Importance of Customer Experience Overinflated?
Companies rely on customer experience management (CEM) programs to provide insight about how to manage customer relationships effectively to grow their business. CEM programs require measurement of primarily two types of variables, satisfaction with customer experience and customer loyalty. These metrics are used specifically to assess the importance of customer experience in improving customer loyalty. Determining […]
Big Data Provides Big Insights for U.S. Hospitals
The U.S. government provides a variety of publicly available databases that include metrics on the performance of US hospitals, including patient experience (PX) database, health outcome database, process of care database and medical spending database. Applying Big Data principles on these disparate data sources, I integrated different metrics from their respective databases to better understand […]
The Reliability and Validity of the Consumer Financial Protection Bureau (CFPB) Complaint Database
I was invited to present at the Federal Reserve Bank of Philadelphia’s Payment Card Center conference, Consumer Financial Protection Regulations: How Do They Measure Up?. Held last week in Philadelphia, this excellent two-day event was tailored around different aspects consumer financial protection to help advance the discussion of targeted design and outcome measurement as central features […]
Beyond the Ultimate Question
Measuring Customer Satisfaction and Loyalty (3rd Ed.)