Net Promoter Score & The Customer Experience

Net Promoter Score (NPS) & The Customer Experience In 2003, Fred Reichheld, a partner at Bain & Company, created a new way of measuring how well a brand or an organization treats the people it interacts with—how well it generates relationships worthy of loyalty. Extensive research has shown that your Net Promoter Score®, or NPS®, acts as a leading indicator of growth. If your organization’s NPS is higher than your competitors, you will likely outperform the industry/market, and managing your retail organization to improve NPS will also improve your business performance. Retail organizations that use NPS as the foundation of a measurement framework that is tightly tied to the customer experience can determine where they stand in the market quickly and frequently. HowRead More

Competing With “Good Enough”

Competing With “Good Enough” At any given moment, on any given day approximately 70% of our employees are disengaged in their jobs and probably disenchanted with their retail organization. 18% of disengaged employee actively undermine their company and coworkers. Which leaves us with about 52% of employees who are doing just enough to get by so they don’t pull focus and open themselves up to coaching/counseling. Which means they are doing just “good enough”. There is an odd reality in retail and with retail leadership – every retail organization speaks to hoping to become a “world class employer” or a “best place to work” and we create best practices and establish benchmarks that we believe will help us create a business and buildRead More

Brick & Mortar Retail and the Savvy Omnichannel Shoppers

Brick & Mortar Retail and the Savvy Omnichannel Shoppers   There is no doubt that one of the fastest changing components of our industry is the customer piece – up until about five years ago we couldn’t stop talking about “Customer Service”, four years ago we started talking about “Customer Experience”. Now, I hear rumblings of “Customer Engagement”. All I know for sure is that the phrase “Customer Service” is a thing of the past. It is an expected, rightfully so, component of the interaction your customer has with your brand, regardless of how or where the interaction originated. We are seeing customers in a brick and mortar retail store on their smartphones checking if they can get a better price on theRead More

Reinventing Retail Learning To The New Normal

Reinventing Retail Learning To The New Normal I feel as though we are seeing a very important evolution inside our Retail industry. Both on the consumer side and the employee side of the business. The Washington Post published an interesting article on January 12th, 2016 titled, “Shoppers Are Choosing Experiences Over Stuff, And That’s Bad News For Retailers“. Some of the things they are opting for over and above “stuff” are: • Travel: record high sales in the airline industry • Food: +8% (beating the +2% estimates) • Media: Video streaming services and games Additionally, “vacations and dining out are each projected to see a 27% increase in consumer spending between 2015 and 2019”, according to a study conducted by market research firmRead More

Happy Employees = Happy Customers [And Higher Sales]

  Happy Employees = Happy Customers [And Higher Sales] There is no big secret as to the Top Reasons why people leave their jobs – if you don’t know them, you can read my article on it here, but these are the Top 5 in a nutshell: (1) The Supervisor (2) Workplace Relationships (3) Work Culture (4) Rest & Relaxation (aka: Work/Life Balance, Vacation) (5) Opportunities For Growth I don’t know anyone who doesn’t understand the concept that if you invest in your employees and create a “best place to work” for your team, you are encouraging a level of service that they will pass on to their customers. What is lacking in the big picture is the ability to execute. The financialRead More

Organizational Success: What You Need To Know

Organizational Success in #Retail: What You Need To Know The amazing team at DDI recently published their Leadership Development Road Map and some of the statistics were pretty shocking and critical to know if we are going to effect change in 2016 in our businesses. You can click on the link above to view the interactive infographic (which is very clever and a great read) but here are some of the highlights that immediately resulted in my brain working through a plan-of-action on how to elevate our current and future leader’s competencies: Are Leaders Ready To Deliver? -40% of leaders say the overall quality of their organization’s leadership is high -25% of HR professionals view their organization’s leaders as high quality -15% ofRead More

Retail Customer Experience

#Retail Customer Experience In a previous post titled – Let’s Make The #Retail Customer Experience Great In 2016! – I covered the more organizational topic around how to set your company employees up, through training/development, for providing great customer experience. This post is really for the team members who are interacting with the customer and mapping out a basic plan to deliver the service levels conducive with providing a great experience. What do our customers want? There are some challenges inside retail being that it is no longer just a brick-and-mortar business but, instead, an onmichannel and multichannel experience for the consumer. However, there is still power in having a product in-hand today so when you have customers in your store – itRead More

Let’s Make The Retail Customer Experience Great In 2016!

Let’s Make #Retail Customer Experience Great In 2016! I am committed to making 2016 a great year both personally and professionally for myself. I am also committed to protecting my industry by reinventing my strategy, leadership, and overall approach to the business to resonate with the changing landscape that we experience, weekly, in retail. There are several reports on how challenging Thanksgiving Day was for brick-and-mortar retail so far Yahoo Finance, Thanksgiving Shopping Crowds ‘Good Not Great’; Online Sales Strong, from Business Of Fashion, Online Sales Surge Ahead of Brick-and-Mortar Retailers’ Big Day, and from Wall Street Journal, Black Friday Shopping – With Thinner Crowds. We also learned about the Cyber Monday Results; From Business Of Fashion, Cyber Monday Sales Jump, High TrafficRead More

Fostering A Culture of Employee Advocacy

Fostering A Culture Of Employee Advocacy In Retail One white whale of opportunity that I see in much of Retail is to allow employees the freedom (and guidelines) to advocate on a brand’s behalf. I recently read this amazing article by Ben Donkor on LinkHumans – “A Kickstart Guide To Employee Advocacy In Social Media”. This, literally, gives the reader the steps and policies for building a program that manages and supports your team using Social Media to advocate for and help grow your brand and brand loyalty! Employees want to support the growth of the brand but are tentative to share information for a number of reasons: -There is no formal policy around it -They have been told that they aren’t allowedRead More