Customer Experience News 104: Culture, Recommendation, Lifetime Value and Myer

Alex Allwood CULTURE, Customer Experience, Customer Experience News, loyalty, Recommendation

Cultural Change Trumps Quick Wins (2-3min)
Key insights in this report from a recent CMO event, where a panel of CX leaders agreed that the quick wins of customer experience improvement must give way to genuine cultural change for businesses to optimise performance over the long term.

Recommendation Engines a Must for Marketers (4min)
An interesting article for marketers by MIT research fellow and digital business expert Michael Schrage on the wider application of recommendation systems. Schrage argues that recommendation systems not only generate useful data for analyzing customer preference but can also be used internally to inform smarter, better, data-driven marketing decisions.

Genuine Loyalty Key to Improving CLV (3min)
This article from CustomerThink argues that most customer loyalty programs are simply strategies designed to entice retention or otherwise reduce the likelihood of churn. The key to creating genuine loyalty and improving customer lifetime value (CLV) is to also focus attention on building emotional connections with customers built on feelings of trust and personal care.

In the News (1min)
In his first day on the job Myer’s new chief executive John King had one clear message, “We have to put the customer first – in every decision we make and every action we take.” Watch this space!