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Post Info TOPIC: How to Dominate Twitter and Rule Your Industry
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How to Dominate Twitter and Rule Your Industry
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When JC Penney hired the expert behind the success of Apple's retail stores as CEO, the expectation was that "what worked well there will do here." Pesky promotional discounts (600 per year) have been scrapped in favor of no-coupon, no-discount daily pricing, along with a new fair and square logo and ads featured by Ellen DeGeneres. Result: 33% decline in online revenue, 25% decline in same-store revenue and 5 percentage points lower gross margin, with quarterly losses increasing throughout 2012 , totaling $985 million in losses, along with new debt and a new CEO in early 2013. Why? The JC Penney ecosystem has been misunderstood and disrespected. Ecosystem = living and non-living beings that make up an environment and influence each other. Recent problems caused by faulty management of the customer experience ecosystem include United Airlines pulling a paying customer out of their seat and out of the plane according to a random draw of passengers to make room for a flight crew to fly. on this overbooked flight. And Wells Fargo employees create fake accounts for customers to achieve an internal goal of 8 accounts per customer. All of these missteps were well intentioned. Yet all had extremely high visibility which was negative and essentially erased much of the goodwill that these highly respected brands and their customer experience management efforts had built. That's why you need to fully understand your customer experience ecosystem early in your company's strategic planning process, integrate it throughout your customer experience strategy, and ensure you're continually following the narrative. The business ecosystem (= customer experience ecosystem) includes customers, employees, suppliers, distributors, partners, agencies, competitors, rituals (planning, financing, evaluation, reward, reporting, communication, advancement, training) and the logistics and interactions between all these stakeholders and rituals. Like a rainforest ecosystem, you have to think holistically about the interdependencies of all the elements.

Think about the food chain, what informs what, who influences who, who needs who, what gets things done, what gets in the way of success. In the case of JC Penney, its key customers enjoyed getting good deals through discount sales. Ellen DeGeneres polarized her core clients: Some loved the modern, humorous tone, and others felt a clash with their conservative views. Equally important, they tried to blast a 110-year-old conservative JC Penney corporate culture too far, too fast, without inspiring employees at all levels to Greece Phone Number List truly believe before taking such a big leap of faith.(Business Insider)Each company's ecosystem is unique. Different people, interactions, rituals and tones must be well understood and respected for customer experience excellence to thrive. The sooner you understand and respect your business ecosystem, the faster and better your customer experience results will be. Can you think of a company that you used to buy from regularly until they changed something that was not understood and did not respect your reasons for being loyal to them? As sales of Evian water exploded in nightclubs, the company decided to improve its margins by selling in bulk instead of individual bottles to nightclubs. Sales fell sharply as his main customers appreciated the prestige of carrying the bottle of Evian; bulk distribution erased the essence of the Evian brand. What is the essence of your company's brand? First, you need to understand and respect the essence of your brand as customers see it. Second, you need to understand it from the perspective of your employees not just the brand, but the employee experience as a whole. Don't stop there. Think of your suppliers, distributors, partners and agencies as extensions of your business. After all, you certainly rely on all of them for your success. CX managers are generally sensitive to customer perspectives and competitive position, but less adept at the perspectives and interdependencies of other stakeholders. Command-and-control approaches to suppliers, distributors, partners, and agencies can affect their effectiveness, and therefore your effectiveness, more than you might think. We've all seen customer experience programs come and go. All because deep roots have not been established by understanding and respecting the business ecosystem. Typically, this happens when the customer experience management approach was too narrowly applied in the business such that it seemed like an alien element and was ultimately rejected by the ecosystem. Don't let that happen!



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