Transcript
WEBVTT
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Are you struggling to come up with
original content weekend and week out? Start
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a podcast, interview your ideal clients, let them talk about what they care
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about most and never run out of
content ideas again. Learn more at sweetphish
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MEDIACOM. You're listening to be tob
growth, a daily podcast for B TOB
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leaders. We've interviewed names you've probably
heard before, like Gary Vanner, truck
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and Simon Senek, but you've probably
never heard from the majority of our guests.
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That's because the bulk of our interviews
aren't with professional speakers and authors.
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Most of our guests are in the
trenches leading sales and marketing teams. They're
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implementing strategy, they're experimenting with tactics, they're building the fastest growing BB companies
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in the world. My name is
James Carberry. I'm the founder of sweet
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fish media, a podcast agency for
BB brands, and I'm also one of
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the CO hosts of this show.
When we're not interviewing sales and marketing leaders,
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you'll hear stories from behind the scenes
of our own business. Will share
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the ups and downs of our journey
as we attempt to take over the world.
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Just getting well, maybe let's get
into the show. Welcome back to
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be tob growth. I'm Logan lyles
with sweet phish media. I'm joined today
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by Catherine Calvert. She is the
CMO over at Coros. Catherine, how's
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it going today? It's great.
I'm so happy to be here. Thanks
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for the invitation, Logan. Absolutely
you and I have already had a roaring
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conversation offline. I am so excited
that we get to continue this conversation about
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the connection between customer engagement and customer
experience. It has been a topic that,
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you know, of the things that
I post on Linkedin. There was
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one the other day just about the
customer experience based on people connecting to a
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Wifi at a local mall here,
and it just got a lot of engagement.
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I think it's a very important topic
and I'm really excited to share some
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insights that you guys have on the
topic today. Before we get into that,
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the the research that you guys have
done alongside forester. Before we get
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into any of that, I would
love to provide some context and background.
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Catherine, tell us a little bit
about your own marketing journey and what you
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and the team at corrolser up to
these days. Sir. So I'm the
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chief marketing officer for chorus and Corus
is, for those of you've been a
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marketing for a long time, the
product of with hum and spreadfast to companies
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that have been in the digital customer
engagement space for while. So we do
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social care, social marketing and communities. We help some of the biggest brands
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in the world, in both the
be tob and the B Toca side,
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to connect the dots with their customers
and stay always connected so that they can
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have customers for life. Awesome,
I love it. Catherine, we're going
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to be talking about three specific findings
out of a recent study that you guys
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commissioned with a forester. Before we
get into that, I would love to
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have you speak to a little bit
of the why and the how of this
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study. Who'd you guys talk to? Why was it important, and then
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we'll get into some of the findings, which I think are going to be
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really telling with some of the stats
you have this year today. Awesome.
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You know, as a marketer I
pride myself on being a great storyteller,
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but I think you certainly and my
colleagues out there doing this job around the
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world understand that my most perfect paragraph, my most perfect tagline is meaningless if
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it's disconnected from the real experience that
my customers have have with my company,
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with my brand, with my solution. So we knew it was an issue,
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but I wanted to figure out how
to quantify it. So we worked
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with the third party forster, the
world famous analyst firm, to commission a
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peace to try to quantify that connection
gap. So we talked to zero consumers
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and over two hundred brands globally.
BE TO BE COMPANIES, be to see
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companies to say hey, is this
a challenge for you? Do you feel
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heard and can and are you easily
able to connect with your customers and and
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on the customer side, how do
you feel the state of your engagement is
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with the brands you either know and
love or want to know and love but
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but are frustrated by? So so
that was the project. It was it
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was really fun to be able to
put some numbers to this challenge and what
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came back was was no surprising that
yes, there's a gap the golf the
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size of that chasm, Logan,
was what was shocking to us. Yeah,
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absolutely. I mean, as you
and I were talking through some of
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the stats offline. I was blown
away by this first st at and that
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is, you know, as you
mentioned, in this study you talked to
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brands, both betsy and Beb,
about their level of engagement with their customers
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and then you spoke to customers,
both and consumers and folks who are buying
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from bb brands. What is their
experience of engagement with the brands that they're
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doing business with? And the perception
difference between those two was pretty shocking.
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So speak to that a little bit. Drop some stats on us. Yeah,
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so I think, you know,
marketers are naturally optimistic. So almost
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ninety percent of us and almost ninety
percent of the brands we talked to said
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we're committed here and we're pretty we're
pretty good at meeting our customers where they
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are, whether they're on social media
channels or messaging or on our own branded
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properties. Unfortunately, what consumers told
us is that only fifteen percent of them
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felt heard. So ninety percent of
brands felt they're doing a pretty good job
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and only fifteen percent of consumers and
felt that they really were known and heard.
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And when we've double clicked on that, what we found is that is
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that on the brand side. People
have projects and energy and we all know
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right whether it's us on the marketing
side of things or my colleagues on the
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care side of the house, we
all know this is super critical. In
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a world where people can get stuff
from anywhere at any time, creating loyalty
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and great experiences is going to be
the differentiator that will drive success. So
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all of us have projects dedicated to
to knowing our customers better, to mapping
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the journey and connecting those dots.
And in fact I think eighty percent of
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the brands we talked to felt that
they are. Not just felt have dedicated
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projects around this, but only less
than half felt that they are. Their
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systems were actually talking to each other. So they're dedicating resources, they're buying
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solutions, but they might be point
solutions or I've got US stack on the
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marketing team might have one text act
and the care side might have another test
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text act and they're not connecting the
dots, which then leads to that disconnect
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or that connection crisis for the consumer
on the other side who might get be
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getting marketing messages that make sense and
map to their journey but don't map to
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their ongoing care experience with the other
side of your house right, but they
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only know you as one monolithic brand. Hey, everybody, Logan with sweetish
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here. If you've been listening to
the show for a while, you know
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we're big proponents of putting out original, organic content on linked did, but
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one thing that's always been a struggle
for a team like ours is to easily
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track the reach of that linkedin content. That's why I was really excited and
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when I heard about shield the other
day from a connection on you guessed it,
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linked in. Since our team started
using shield, I've loved how it's
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let us easily track and analyze the
performance of our linkedin content without having to
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manually log it ourselves. It automatically
creates reports and generates some dashboards that are
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incredibly useful to see things like what
contents been performing the best and what days
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of the week are we getting the
most engagement and our average views proposed.
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I'd highly suggest you guys check out
this tool if you're putting out content on
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Linkedin, and if you're not,
you should be. It's been a game
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changer for us. If you go
to shield APP DOT AI and check out
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the ten day free trial, you
can even use our promo code be to
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be growth to get a twenty five
percent discount. Again. That's shield APP
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DOT AI, and that Promo Code
is be the number to be growth.
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All one word. All right,
let's get back to the show. You've
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mentioned to me another stat kind of
along those lines where I think we've probably,
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and this reinforces the stat that you're
going to share here, we've had
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a bad experience with a brand.
You know, we hopped off the phone
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frustrated after, you know, an
hour long customer support call with our Internet
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service provider. Let's, you know, just pick on on that sector for
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a little bit, but it really
could be anybody. And then we see
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an ad about how great the brand
is. There were a number of respondents
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that's scifically called out having that sort
of experience. Right, yes, so,
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and some of the world's biggest telecom
companies are customers of ours and I
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can tell you firsthand they are working
so hard to do this well and to
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be there and responsive and create great, delightful experiences. So what part of
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the selfish reason I wanted to do
this study is to say, Gosh,
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I know it's I know it's not
good when this happens but what does it
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really mean? And the really shocking
piece for us was that sixty five percent,
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so you know. Well, more
than half of customers said that if
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they have a bad experience, they're
going to stop doing business with that brand.
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Sixty five percent will walk away.
So so not only are you losing
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that customer, but you're probably putting
a dollar in your competitors product because they'll
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go somewhere else to solve the problem. And then, you know, what
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keeps US marketers up at night is
that they tell other people about this problem
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and they're not it's not just like
you tell somebody on your train ride home,
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right. That's the curse and the
blessing is is when things go well,
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we have these big platforms, but
the curse of all these channels is
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that when something goes wrong and people
want to complain, they have a massive
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audience to do that to. Sixty
four percent of customers said they will will
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tell others about a negative experience they
have with a brand. So so you're
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losing sixty five percent will walk away
and and most of those folks will also
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tell others about about experience. There's
are a one percent difference between walking away
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and telling others. So for pretty
much all of that, two thirds of
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folks that have a bad experience are
you're not only getting the bad effect of
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losing the business, sending the money
to your competitors, but damaging the brand
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along the way, as they tell
others, depending on, you know,
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their social media following. But still
regardless. I mean I just heard on
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another podcast episode, actually on the
customer experience podcast, where they're talking regularly
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about customer experience, a bad interaction
with a clothing retailer and and there was
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that point of losing out on the
money from that individual the family. Now
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it's been talked about on on the
podcast. I heard the story who hundreds
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of other people, if not thousands, who downloaded that podcast episode have now
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heard it as well. So just
from my own experience in the last couple
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of days, you know I've experienced
that stat that you're talking about right there,
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Catherine. So we talked about the
disconnect, divide between what brands think
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they're doing what consumers are perceiving the
cost of getting it wrong. The flip
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to that, as you mentioned,
with the blessing and the curse of social
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media and all sorts of channels for
us as marketers is that there there is
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a corresponding upside to when we get
it right. So speak to that connection
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between positive customer experiences and something that
all marketers are trying to tie them themselves
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to and set their eyes on more
dedicated here moving forward, and that is
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revenue. Right, that's right.
We're all in it to attract and retain
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and grow our customer relationships, right, and so that's the good news here,
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is that that it's so hard to
do, but that when customers do
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have a positive experience, it matters
a lot. So loyalty is possible.
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It just means you have to get
it right. To give you the stats
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about how this is really creates tons
of upside for your business. When a
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customer it's so rare these days.
So when a customer has a good experience,
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they are forty three percent more likely
to buy something from you. So
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we're increasing the likeliness of purchase by
forty three percent. And then back to
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that, back to the blessing side
that you mentioned, Logan. They also
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told us half of them have recommended
a brand in the last six months or
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less. So so those people that
will tell you about unhappy experiences are just
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as likely to tell you about positive
experiences and not lift for your brand is
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so valuable it is. It is
worth n x your media spend when you
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have another customer talking about the great
experience they had with you. So,
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just to put a final point on
that, eighty three percent of those thousands
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of consumers we talked to said they
are more loyal to brands that create positive
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experiences, to brands that where they
feel known and that they feel connected to
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and heard. Eighty three percent of
them feel loyal and that is that's pretty
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magnificent in a world where loyalty is
so hard to find. Yeah, absolutely.
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It goes back to something that you
mentioned earlier, a quote I probably
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won't quote imperfectly, but David Cancel, founder of drifts, as all the
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time, in a world of infinite
supply, brand is your ultimate differentiator and
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as marketers, you know, we
get excited about rebrand we get excited about
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the things that creative exercise of displaying
what our brand is and represents, but
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at the end of the day it's
really what people are saying about us that
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we have no control over, and
that's really what our brand is. And
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so I think there can be this
disconnect of all we can. We can
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just create this great brand with all
of our efforts, but it's not just
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that, it's the experiences that we
create and to your point, you know,
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the glass half full side of that
is that there is a tremendous amount
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of upside. There's more loyalty,
there's competitive differentiation, there are people who
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are willing to spend more money with
you as opposed to getting into this endless
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price war. So I would love
to hear your thoughts, Catherine, on
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kind of next steps for marketers thinking
about this, how they could work with
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their other functional leaders within their organization. You know, you talked a little
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bit about, you know, connecting
the dots of the customer journey and realize,
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saying that it doesn't stop at the
bottom of the funnel, right at
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at decision, at you know,
that point, especially for those of us
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in tech and ongoing recurring revenue based
businesses, that is really, you know,
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the mid if not just the beginning, one third of that customer journey.
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So give us a couple of thoughts
there for folks that walking away from
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this to do something about these stats
and what they should be thinking about.
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Yeah, and I you know,
I love that quote. Look and said
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thank you for sharing that, and
I've had the privilege of getting to rebrand
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companies or redesign logos, and all
of that is really important work. But
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to your point, as marketers were
really shepherds of a brand, but the
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brand itself is defined by the experiences
your customers have and so so, to
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that end, the companies that we
work with that are doing this really well
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have figured out how to reach across
the aisle and create visibility into and an
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across different functional groups so that you're
known as a customer, not just in
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marketing and in my demand on funnel, but also in my CECEO or cecos
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organization. And I have a system
and a record so that I can understand
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what matters to you, what you
care about. When's the last time you
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called in? Was it about?
Was it to buy something or was it
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to solve a problem? Did the
problem get resolved? And honestly, that
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makes my promotions much more intelligent,
right, because then I can then I
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can do really cool things with target
did promotions, targeted thought leadership. I
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can get really creative with things that
will help you be more successful using my
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solution. Right if I know who
you are, my marketing gets better and
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my care staff gets better. So
so three things that I think will help
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others, other brands, to do
well that we've learned from the customers that
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we work with. They're doing this
really well. One is we all do
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customer journey maps. Make sure that
it's a cross functional exercise and that when
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you are in that room and working
with your post it notes and mapping the
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journey, that you're also thinking about
what all those external touch points are so
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that you have one cohesive view of
all the ways that you are reaching out
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to your customer as one brand,
not as a team but as a brand,
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and what are the ways and entry
points for that customer back into Your
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Business. And then the second piece
would be, once you have that line
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of sight, how do you bring
them together? You probably have a great
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crm. Is it capturing all those
digital interactions, because each of those interactions
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we like to think of them as
pieces of currency and if you can drop
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them into your crm you're going to
get you know, you're investing in the
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future of that relationship. So a
cross functional look at your your prospect customer
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journey, breaking down the silos across
your own company so that, again,
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we don't want to change anybody's workflow, but your couldn't you're able to have
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a line of site between those inbound
and outbound. And then the final thing
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it would be would be to make
sure that you're the the top brass of
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a company's thinking about this. It's
obviously a key initiative for your marketing team
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maybe, or for Your Care Organization. But if you if you're feeling stuck
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and you can't get traction on this
within within your team, it probably means
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it needs to get elevated. And
so hopefully some of the stats we shared
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can help you build that business case. But if we don't, if you
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don't get that senior level perspective,
I know from experience it's really hard to
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forge through and break those silos across
organizations. So happy to help and share
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our our forester data with anybody who's
looking at how to build this kind of
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business case. Yeah, absolutely,
Catherine. As we wrap up today,
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I want to point folks to some
additional resources here. You know, something
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that came to mind throughout our conversation
is a phenomenal book by Joey Coleman.
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Never lose a customer again. I
would definitely recommend that as follow up reading
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on this topic. Another some folks
know that we have a Hashtag CX,
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a series here on BB growth for
you know, a deep dive in full
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episodes on that show. Check out
the customer experience podcast in Apple podcasts or
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wherever you do you're listening. Will
Link to both of those, the book
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in the podcast in the show notes
here, Catherine. If anybody listening to
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this would like to follow up stay
connected with you, what's the best way
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for them to reach out to get
access to this data in the report that
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you guys put so much time and
effort into? Sure so feel I'd love
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to meet any of you in the
out there in the social world. So
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I'm you can find me at KP
Calvert on twitter. You can also always
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find us at Choroscom, Kho Roscom, and should be pretty easy to find
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a link to the forester report.
But if you can't find it, feel
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free to pay me on twitter and
I'll make sure you get a copy.
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Awesome, fantastic. Will try and
put that in the show notes as well.
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We'll make it as easy as possible. We're going to try and lean
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into the customer experience, the listener
experience today. Right, let's see,
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Ye, easy, we can make
it on everyone out there. We would
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be remissed, with this as our
topic today, to not really lean into
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that as we finish out and share
our party. Where is gatherine? This
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was fantastic. Thank you so much
for being a guest on the show today.
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Thank you so much for his great
pleasure. We totally get it.
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We publish a ton of content on
this podcast and it can be a lot
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00:19:47.170 --> 00:19:49.930
to keep up with. That's why
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272
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