041: How do Apple, Starbucks, and Southwest Outperform the Rest of Their Industries Regardless of the Economy? Here’s How!
Chief Revolution Officer John DiJulius of the DiJulius Group answers this question: Why do companies like Apple, American Express, Tesla, Chick-fil-A, Starbucks, Amazon, Southwest, and Zappos always outperform the rest of their industry regardless of the economy? It is the service, stupid! Today, discover how one company increased revenue to over $2 million a month by improving customer experience.
What you will learn:
- How a small number of companies have now redefined what customers expect from brands.
- Most products and services today are of similar quality. The differentiator of products and their functionalities no longer plays a role in the customer’s purchase decision.
- In a time of uncertainty, there are only 3 certainties in life: Death, Taxes, and Customer Experience.
- Most CEOs fast-talk a commitment to customer experience but slow-walk execution.
- Research has shown that in past recessions, companies that invest in and deliver superior customer experience during a downturn emerge, producing shareholder returns three times larger than average.
- A study analyzes the stock market performance of the top-rated companies in customer experience versus the bottom-rated during the period of the last U.S. recession from 2007 to 2009.
- The worst CX companies had a negative 57% ROI; many of them didn’t survive.
- The stock market struggled at a negative 16%.
- The best CX companies posted a positive 6%.
- In order to know what victory looks like, you must have an ROX (Return on eXperience) dashboard. The ROX dashboard should have 3-4 Key Performance Indicators directly tied to the level of customer experience delivered from every customer-facing employee and department.
- How a mortgage company increased revenue to over 2 million dollars a month by improving their customer experience.
Resources mentioned:
https://thedijuliusgroup.com/the-customer-service-revolution-podcast/
https://watermarkconsult.net/blog/2019/01/14/customer-experience-roi-study/
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