The Cheshire Cat is not among the usual “experts” that get quoted at business conferences, but Mike Tripp was trying to help his peers see through the CX looking-glass.
In the final morning keynote session at market research firm Forrester’s CX North America 2020 virtual summit, the vice-president of guest experience for the Lexus division of Toyota showed a slide of what looked like very confusing terrain.
The quote from Alice In Wonderland was, “If you don’t know where you’re going, any road can take you there.” While that might seem fitting for a car company, Tripp suggested that delivering an outstanding experience required being highly specific about corporate direction, and it’s what he said has helped Lexus consistently achieve high marks in Forrester’s annual CX Index, which was officially released Thursday.
“I would argue the key to success is being crystal clear about your purpose or what you stand for,” Tripp said.
This bears out according to Forrester’s data, said Michelle Yaiser, the CX Index’s principal analyst. Clear communications and trust are important for customers across all industries, she said. Excluding the top performers, those who scored well in those areas tended to have customers who are 71 per cent more likely to remain loyal, 75 per cent more likely to spend more and 81 per cent more likely to recommend the brand in question.
The scores are even higher for top performers, where 80 percent will be loyal, 81 per cent will spend more and 88 per cent will become advocates if those two pillars are maintained. “The idea of a (CX) performance ceiling is myth,” Yaiser said.
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Shane Schick tells stories that help people innovate, and to manage the change innovation brings. He is the former Editor-in-Chief of Marketing magazine and has also been Vice-President, Content & Community (Editor-in-Chief), at IT World Canada, a technology columnist with the Globe and Mail and Yahoo Canada and is the founding editor of ITBusiness.ca. Shane has been recognized for journalistic excellence by the Canadian Advanced Technology Alliance and the Canadian Online Publishing Awards.