Faced with increasingly commoditized markets, more and more insurers are launching customer experience improvement programs to differentiate themselves. However, there’s something many of these companies don’t yet realize: The vast majority of their programs will fail.Executive SummaryThe vast majority of customer experience improvement programs will fail, says Watermark Consulting’s Jon Picoult. Not only do these failures cost a lot of time and money, they could cause a company to lose credibility with employees or even customers. Here, Picoult offers three markers that indicate your company has the executive commitment necessary for the program to succeed.
In a survey of more than 1,000 companies by communications provider Avaya, an astounding 81 percent indicated that their customer experience improvement programs had failed to deliver results.
That’s a lot of companies wasting a lot of time and money on something that isn’t working.
What’s worse, given how these failures typically play out, companies end up losing more than just their investment in a better customer experience. They also lose credibility—in the eyes of their employees, and potentially even their customers.