Customer Experience

Worldwide customer relationship management software revenues totaled $39.5 billion in 2017, eclipsing database management systems, the former market leader. DBMS had worldwide revenues of $36.8 billion last year, and it "has been the biggest software segment for years, noted Julian Poulter, research...

A solid brand is key to business success, but over the years I have seen many companies try to commit suicide by killing the brand identities they spent so many years and so much money creating. Many are now gone. Others are still around, but in a weakened position. You must give the customer a comp...

Andrew McAfee and Erik Brynjolfesson, who teach at MIT's Sloan School of Management, started writing about the impact of artificial intelligence and machine learning almost a decade ago. Their early books -- The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies a...

Adobe this week introduced three features to its Target application in an effort to improve customer experiences through increased personalization: new Personalization Insights reports; Propensity score model comparisons; and Real-time customization models. These new features give users enhanced tra...

Customers often make investments in their relationships with the businesses they choose to patronize. There is plenty of competition, so companies must pay attention to this. It's only when a company respects and wants a customer as much as the customer wants the company that things will go well, an...

Checking out is the heart and soul of the e-commerce experience. When it goes well, you've got happy customers who are likely to return. When it doesn't, your business can suffer. "Checkout is not only key to driving revenue -- it's key to user satisfaction, order size and retention," said Zephrin L...

Adam Smith famously referred to "the invisible hand" of the free market in his landmark book The Wealth of Nations, and with that made himself one of the very first political economists. Smith's observation was so on point that most of us assume markets run through the agency of individuals pursuing...

Fraud is a major concern for 72 percent of businesses, according to Experian's Global Fraud and Identity Report. More than 5,500 consumers and 500 business executives in 11 markets around the world participated in the survey. The situation has not been improving, as six out of 10 businesses experien...

Enterprises have begun overhauling the way they handle customer experiences, suggested Gene Alvarez, managing VP at Gartner, at the firm's customer experience event in Tokyo earlier this week. Twenty percent of brands will abandon their mobile apps by 2019, he predicted, choosing consumer messaging ...

One fundamental element of building a brand relationship with customers is consistency. Widely franchised companies like Starbucks compromise consistency, however. They employ several different business models instead of sticking to one. This approach confuses customers and hurts the master brand, s...

Disruptive innovations change our lives for the better. They expose longstanding needs and signal that there's a solution at hand. Moreover, the solution involved usually is less expensive than the status quo. The lower-cost aspect makes adoption inevitable and therefore disruptive. Document managem...

Broken corporate processes have been contributing to negative customer experiences, a recent survey suggests. One thousand employees in U.S. companies with a workforce of 500 or more who work on a computer or mobile device for more than five hours a day responded to the online survey conducted by Ni...

Automation. Robots. Technology taking our jobs. I defy you to pick up a business magazine and avoid this topic -- it will be in there somewhere. However, there's another theme you won't be able to avoid: the need to focus on the customer experience. These two trends are in tension much of the time.

Companies are run by people. Some do a great job of putting the customer first and growing, which ultimately rewards investors. Others don't. Some first focus on investors and numbers, simply not caring about or taking care of the customer. That approach can have a serious and long-term negative imp...