In this episode of the CX Iconoclast Podcast, host Richard Owen welcomes guest Chris Gopal, a renowned global supply chain expert. Chris shares his insights on the challenges faced by companies in managing their supply chains and how AI and analytics can enhance predictability and mitigate risk.Chris Gopal’s extensive experience in supply chain management includes leading the corporate transformation of Dell’s manufacturing logistics in the 1990s and holding key positions at Ernst & Young Consulting, SAIC, Tata, and IBM. He is also the author of the book “Breakthrough Supply Chains” and currently teaches at the University of California, San Diego, and USC.The discussion delves into the impact of recent global events, such as the pandemic and geopolitical conflicts, on supply chains. Chris highlights the compression of what has historically been a hundred-year cycle into a five-year cycle. He emphasizes the importance of placing the customer at the forefront of supply chain design and execution.The conversation also explores the increasing significance of direct sales channels, even as customers have become accustomed to buying direct. Chris and Richard agree on how little has changed since the industrial revolution, suggesting that the core principles of supply chain management remain relevant.Chris further discusses the evolution of supply chains, noting three major inflection points: the financialization of the supply chain, the recognition of the supply chain as a network with the customer as a critical component, and the external factors that significantly impact the supply chain, such as risk and sustainability issues.The podcast concludes with a discussion on the changing face of manufacturing. Chris argues that manufacturers today sell more than just physical products; they also provide information and services across the customer lifecycle. This shift necessitates a new approach to cost, metrics, and priorities, with a focus on customer retention and segmentation.All in all, great insights for all companies that manufacture or distribute physical goods.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
In this podcast, Joe Wheeler, Richard Owen, and Maurice FitzGerald discuss the evolution of customer experience. Wheeler, author of ‘The Digital-First Customer Experience’, highlights how AI and machine learning drive growth and scalability in companies like Spotify and Lemonade. The trio explores the economic implications of AI in businesses, balancing cost reduction and job creation, and the importance of understanding customer segments.They discuss real-world examples like Budweiser and Cadillac to illustrate brand growth challenges and the importance of adapting to demographic shifts. Owen questions the relevance of surveys in a digital environment, suggesting that customer experience can be measured more effectively through digital behaviors.The conversation delves into customer lifetime value (CLV), exploring dynamic measures of engagement linked to spending behaviors. They discuss the role of engagement in the B2B SaaS industry, emphasizing that customers must derive tangible benefits from their interactions with brands.Wheeler shares his thoughts on personalized pricing in the digital world and how AI is revolutionizing this space. As they wrap up, the conversation turns to Joe’s involvement with Blue Movement, a venture leveraging AI to analyze ocean data.Tune into this podcast for a deep dive into customer experience, engagement metrics, personalized pricing models, and climate change initiatives. The dialogue emphasizes that technology should enhance customer experience, dictated by specific needs and expectations. Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Is customer success indeed dead? That’s just one of the questions answered during this discussion. (Spoiler alert: it may well be dying at your company.) Join host Richard Owen and Chris Adlard, co-author of ‘The Customer Catalyst’, as they delve into the essence of customer transformation. Chris introduces us to the ‘C-change diagnostic’, a tool that companies can use to evaluate their CX progress and receive extensive suggestions on the next actions each major function should take. Chris emphasizes the need for a company-wide customer obsession, arguing that customers are today’s growth engine, especially in the SaaS industry. He adds to this by arguing that isolated individual teams focusing on customers cannot possibly succeed on their own. The conversation takes an intriguing turn as Chris and Richard dissect the nuanced difference between being profit-driven and genuinely customer-obsessed. They challenge businesses to transcend short-term gains and anchor their strategies on long-term customer loyalty – a pathway they argue is not just ethical but economically rewarding. They spotlight iconic founders like Michael Dell and Charles Schwab, who defied contemporary profit-driven models with their long-term customer focus. The discussion extends to companies like Workday that have metamorphosed from being merely customer-focused to becoming pinnacles of innovation in the SaaS space. Finally, they explore the role of ethics in business. Chris argues that greenwashing must be avoided and that it is far more ethical to give customers a great experience and get the company obsessed with the customer. They conclude by suggesting that the purpose of business is to create outstanding rewards for shareholders by creating outstanding results for customers. Tune into this podcast for an entertaining conversation exploring how businesses can rewire their operational DNA from feature obsession to prioritizing exceptional customer experiences. It’s more than a discussion; it’s an invitation into a world where business ethics aligns with shareholder value creation by prioritizing outstanding results for customers. Your perspective on business operation will not remain the same!Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
In this podcast featuring Sean Albertson, a call center expert and author of '4ROCKS', host Richard Owen explores the dynamics of customer experience and business challenges. Sean's four metaphorical rocks—Sedimentary, Metamorphic, Igneous, and Meteoric—symbolize layers of complexity, organizational changes, unexpected events, and external factors affecting customer struggles. The discussion unfolds as Sean emphasizes the need for action based on the results of research results, moving beyond measurement for its own sake. They then delve into the evolving landscape of communication channels, where the challenge lies in the potential disconnection between channels, leading to customer frustration. Sean then covers the details of the metaphorical rocks, each intended to simplify business challenges. Sedimentary rocks highlight silos and separation between teams, Metamorphic rocks address changes affecting customers, Igneous rocks deal with sudden major changes, and Meteoric rocks represent external factors like the impact of COVID-19. Richard and Sean explore the role of technology in addressing these challenges. They discuss the entrenchment of obsolete structures and the need to look beyond cost reduction, focusing on how technology can bring people together. Sean presents an insightful example of using technology to streamline customer interactions, emphasizing the power of analyzing existing data for better outcomes. The conversation touches on the human aspect in contact centers, emphasizing the need for people to handle fewer tasks to excel. Sean highlights the importance of providing choices for customers and shares examples of using data to anticipate and redirect customers who might otherwise find themselves on a bad support path. Don't miss this engaging podcast as Sean and Richard discuss the rocks causing the most problems in the stream of customer experience, drawing from real-world examples. Join them on a journey to uncover actionable insights and strategies for enhancing CX in an evolving business landscape.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Das Narayandas is the Edsel Bryant Ford Professor of Business Administration at the Harvard Business School. In this engaging podcast hosted by Richard Owen, Das reflects on their early connection and dives into decades of B2B client relationship expertise. Das shares insights from his groundbreaking marketing dissertation, emphasizing the nuances of long-term supplier-customer dynamics. The conversation seamlessly transitions to the critical aspects of customer selection, service, and the evolving landscape of customer lifetime value (CLV).As the discussion unfolds, Das offers a unique perspective on strategy, advocating for its dynamic nature and continual alignment with the most attractive customer profiles. The dialogue delves into the realm of AI, with Das recounting his transformative journey during the pandemic, translating complex data science into practical business applications.Richard and Das explore the intricacies of human-machine interaction in predictive analytics, navigating biases with a "healthy skepticism" approach. The podcast touches on the challenges faced by boardrooms in adapting to data-driven decisions, expressing optimism that analytics will bridge the gap between sales and marketing.The conversation extends to organizational structures, proposing innovative approaches to team organization based on sales process operational stages. They uncover downstream effects of improper customer targeting, highlighting the growing trend of integrating support and customer success teams more strategically into the overall organization, rather than as an afterthought.As the podcast wraps up, Das provides a glimpse into the future of analytics, introducing the concept of "augmented intelligence" and sharing a compelling "Aha Moment" that underscores the power of predictive analytics in shaping business strategies. Tune in for an enlightening discussion that promises valuable insights for both seasoned professionals and those navigating the evolving landscape of customeranalytics and AI.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
In this insightful podcast with host Richard Owen, Joe Pinto reflects on his years at Cisco and the transition to his role as Chief Customer Experience Officer at Pure Storage. Moving from Cisco to Pure, Joe notes the significant size difference and praises Pure's CEO for championing Customer Success. Managing the challenge of maintaining high NPS during rapid growth, Joe highlights Pure's achievements in handling escalations efficiently and the seamless, "hitless" upgrade process. Customers attest to Pure's low cost of ownership compared to competitors.Discussing the funding of training and education, Joe emphasizes the importance of separate budgets for technical courses, and their impact on rewards and promotions for customer-facing teams. As Joe puts it during the conversation: "We have to make sure that everyone who will be touching a customer is prepared for that moment."The podcast explores Pure's 'evergreen' product concept, designed for perpetual functionality, with AI-driven proactive customer outreach. Joe and Richard delve into the complexities of maintaining customer satisfaction as the company scales. Joe stresses the importance of simplicity, echoing Richard’s mention of a quote from Einstein about the three levels of intelligence: intelligent, genius, and simple.Regarding AI, Joe sees it as a tool to enhance engineers' capabilities rather than replacing customer-facing staff. A survey stat reveals 52% of IT buyers plan to invest in AI, emphasizing its role in enriching customer and employee experiences without significant headcount growth.Joe shares insights from his New York upbringing, acknowledging parental sacrifices for his success. The podcast concludes with a mutual agreement on the critical role of families in personal and professional achievements. Tune in for a compelling discussion on customer-centric strategies and the evolving landscape of technology in customer support.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
CX Iconoclasts are people who break with tradition by bringing new ideas and new ways of doing things to our attention. These short extracts from the full discussions cover some great sales and marketing views on the future of customer experience strategies and tactics in the digital age. Richard Owen’s four guests in this short video are:Bill Binch - Former sales & marketing leader at Marketo and at Pendo, now an advisor at VC company Battery Ventures.Richard Watts - 33-year veteran of Progressive Insurance, where he led sales and service.Joe Wheeler - Innovator and thought leader in CX since the 1990s, when he started his focus on the CX profit chain.Martin White - Veteran financial services CMO who spent many years at Experian and at Amlin.These short clips will get you familiar with their ways of thinking and their desire to break with past practices. You should be able to find the full versions of each of the four interviews wherever you get your podcasts.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
CX Iconoclasts are people who break with tradition by bringing new ideas and new ways of doing things to our attention. These short extracts from the full discussions set out some fascinating marketing-centric views on the future of customer experience strategies and tactics. Richard Owen’s three guests in this video are the famous marketing cartoonist Tom Fishburne, marketing veteran Andy Lark, and Breeze Airways CMO Angela Vargo. The first extract is from Richard's discussion with Tom Fishburne, who is somewhat cynical about the traditional world of marketing, so it is fascinating to compare what he says with the modern and indeed iconoclastic views of Angela and Andy. You should be able to find the full versions of each of the three interviews wherever you get your podcasts.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
CX Iconoclasts are people who break with tradition by bringing new ideas and new ways of doing things to our attention. Join us in this captivating episode as we delve into the remarkable journey of Chris Bishop, Chief Customer Officer at Conga, a trailblazer in revenue lifecycle management software. From Advocacy to Data Science Mastery: Conga's EvolutionChris unfolds his five-year odyssey at Conga, illuminating the transformation of the Chief Customer Officer role. Discover how he shifted the paradigm from traditional advocacy to leveraging data science, actively steering Conga towards unprecedented growth. Chris shares insights into the Conga Way, a unique approach emphasizing values like Achieving Together. Hear about the extraordinary efforts of a CX Champion, epitomizing the commitment to customer success, even interrupting a vacation to salvage a crucial account.Early Adopters of Customer AI: Navigating Success Amidst Change Uncover the secrets behind Conga's success as an early adopter of Customer AI. Chris recounts how this technology revolutionized support operations and then seamlessly integrated into various facets of the organization. Despite navigating a major merger during the onset of the pandemic, Conga's Customer AI continues to deliver exceptional results. You will learn how Customer AI harnesses operational data across all customer-touching IT systems at Conga. Chris shares how it predicts key metrics such as propensity to renew, NRR, and NPS, identifying operational factors driving positive and negative trends, and providing actionable strategies to enhance your financial performance and customer success.Tune in now to unlock the secrets of Conga's success and gain invaluable insights for your own journey!Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
CX Iconoclasts are people who break with tradition by bringing new ideas and new ways of doing things to our attention. Where better to find such thinking than from major thought leaders and academics, who do not have to live with the restrictions imposed by quarterly business targets and results. These short extracts from the full discussions set out some fascinating views on the future of customer experience strategies and tactics. Richard Owen’s seven guests in this video are Peter Fader (Wharton) and Dan McCarthy (Emory), Erik Brynjolfsson (Stanford), Paul Marsden (Digital Wellbeing), Michael Schrage (M.I.T.), Liam Fahey (Leadership Forum L.L.C. and Ralph Oliva (Penn State). You should be able to find the full versions of each session wherever you get your podcasts.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
2023 was a great year for our CX Iconoclast podcast Richard Owen interviewed many business leaders, and we have picked out some highlights in these short videos. You will get interesting and entertaining advice in these clips from Mark Templeton (Citrix), David Tudehope (Macquarie Telecom), Tom Monahan (CEB), and Steve Byrne (Travel Counsellors). Richard is of course a CX industry veteran and nevertheless felt he learned a lot from these discussions. You can of course find the full versions of each session wherever you get your podcasts.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Today, we sit down with Joe Wheeler, the author of the insightful book “The Digital First Customer Experience.” We dive deep into the design strategies used by top brands like NIKE, Amazon, and Starbucks, and how these strategies have evolved to meet the demands of an increasingly digital marketplace.Highlights:Insights from “The Digital First Customer Experience”:1. Discussion about the book and its revelations on customer experience strategies.2. Joe Wheeler shares his inspiration for writing the book.Strategies of Leading Brands1. An exploration of the design strategies from globally recognized brands.2. How NIKE, Amazon, and Starbucks have set the bar for customer experience.The Evolution of Customer Experience1. Reflecting on the transformation of customer engagement through digital innovation.2. A look at the future of customer experience in the tech-driven world.Joe Wheeler’s Expertise1. Joe discusses his time in executive roles at Bank of America and The Forum Corporation.2, Insights into the corporate world's approach to customer experience.Don't miss the insights and experiences shared by Joe that could redefine how you think about customer engagement in the digital era. Enjoy the conversation and walk away with actionable strategies for your business.Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Today's conversation explores several key themes, including the intensely personal nature of B2B relationships, the impact of generative AI on the buying process, and the many changing roles in today's corporate landscape.Richard Owen, Liam Fahey and Ralph Oliva delve into the evolving nature of B2B marketing within various industries, particularly those facing competition from innovative startups. It examines how risk-averse cultures can hinder growth and how some firms are investing heavily in technology upgrades to remain competitive.Listeners gain valuable insights into the challenges and opportunities facing CX and B2B marketers in an ever-changing business environment. This conversation emphasizes the significance of cultivating purpose and culture within organizations while adapting to the rapidly evolving market dynamics.Connect with Ralph: https://www.linkedin.com/in/ralph-oliva-a805867/Connect with Liam: https://www.linkedin.com/in/liam-fahey-executive-director-leadership-forum-author-educator-consultant/Find out how predictive CX analytics can help your business: https://ocxcognition.com/ Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3Find out how predictive CX analytics can help your business: https://ocxcognition.com/ Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Have you ever experienced something like “marketing funnel vision?” Been trapped in a “sub-silo?” Feared a case of “data-blindness?” What a relief to laugh at the challenges of business, which is what cartoonist Tom Fishburne helps us do. Tom Fishburne took an unconventional career path, which might be true of all cartoonists. He started cartooning as a child and continued through his time at Harvard Business School, where his cartoons were featured in the student newspaper. But for many years he earned a living from more conventional jobs, working in marketing leadership roles at General Mills, Nestle, and Method before striking out on his own. Now, as founder and CEO of the Marketoonist, he finds humor in the business world – and turns it into marketing value for brands including Google, SAP, and LinkedIn, as well as many startups. The conversation in this episode takes a look at Tom’s career and explores the care he takes with humor. As a keen observer of the business world – a prerequisite for humorists of any stripe -- Tom has a lot to say about both trends and ongoing themes in business. Some points to listen for: Tools, including tech tools, can help us with productivity and focus, but they can get in the way of the core of the work we try to do – Tom gives the example of “marketing funnel vision,” but CX professionals face this challenge too. Tom has observed that despite increasing talk about silos as a problem in business, in practice many disciplines have become even more siloed – all the way down to “sub-siloes” within departments. Tom talked about the difficulty of being “data-driven” without being “data-blinded,” a common area of struggle. And find out what Tom would do if he had a magic wand to make customers more customer centric. If you’ve ever enjoyed a cartoon about business, you’ll enjoy this interview. Find out more about Tom and subscribe to his newsletter for a weekly cartoon: https://marketoonist.com/ LinkedIn: https://www.linkedin.com/in/tomfishburne/ Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Why do only software companies and drug dealers call their customers “users”? Has “CX washing” diluted to overall impact of CX in the business world? Why do so many acquisitions fail to consider the customer experience? And could OCX Cognition really be in pursuit of the “holy grail” of CX? Just a few of the questions our guest, former Citrix CEO Mark Templeton, discusses in this episode.Everybody’s career begins somewhere, but even so, you might be a little surprised to learn that Mark Templeton got his start in sheet metal. Listen to the conversation to learn the story of his career pivot, but suffice to say it turned out to be a pretty epic shift. Mark joined Citrix first as marketing VP, then as president, and then, for more than 14 years, president and CEO, departing after 20 years at the company. He led Citrix as it transformed from a $15 million business with a single product to a multinational software leader in multiple categories, worth more than $3 billion and with more than 100 million users around the world. Today, Mark serves on several boards and offers his very thoughtful mentorship and consulting to up and coming business leaders.On some level, you have Mark to thank for your ability to work from home. Mark was a visionary when it came to virtualization, including mobility management, networking, collaboration, and security, and Citrix did a great deal to popularize and refine many of the technologies we take for granted today as we work from wherever we like these days. He’s also proud, as you’ll hear him discuss, of the design-thinking culture he engineered at Citrix, and of the company’s value-driven culture.We kept the conversation focused on a few areas that have particular resonance in thinking about the customer experience – metrics, acquisitions, and company culture. Some points to listen for:How what Mark amusingly calls “CX washing” has diluted the overall impact of CX in the business world.The benefits and limitations culture change, based on Mark’s efforts to embed design thinking and customer-centricity in the Citrix culture. We include a discussion of complementing good intent with measurement.The human and business challenges of serving customers effectively through acquisitions. Mark oversaw about 50 acquisitions at Citrix, so he has quite a perspective.How it might not be a co-incidence that only the software industry and the drug industry call their customers “users.” Find Mark on LinkedIn: https://www.linkedin.com/in/markbtempleton/Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Our guest Steve Byrne would almost certainly not have a business to run if it weren’t for the differential power of the customer experience. He’s the CEO of Travel Counsellors, a company that works hard to live by its own rules and to do right by every person involved in its value chain – customers, employees, and partners. Steve had a lot to say about how he approaches these interconnected obligations, and about how the business is thriving despite what could be considered countervailing market trends.At Travel Counsellors, vacationers (and business travelers) work with independent travel counsellors who personally plan and support their travel. Steve led the acquisition of Travel Counsellors from its founders in 2014, and today the company has a network of 2100 independent travel counsellors operating in five countries. The company enjoyed steady growth of 15 – 20% for more than 20 years, and though COVID decimated the business, its bounce-back was impressive. This year, it expects to have about a billion pounds in transactions – that’s $1.2 dollars.It must be said that this is all the more impressive given the massive shift toward self-service and automation in travel. Steve chalks it up to the fundamental differentiator of the company: delivering a customer experience that people deeply value. At the same time, he and also emphasized the importance of adapting to a changing world. A few points to listen for in the conversation:For Steve, the ultimate success metric is the lifetime value of the customer. Travel Counsellors explicitly includes referrals in that valuation. And the business supports its efforts to maximize customer lifetime value outcome by tracking and acting on several measures along the way.There’s entrepreneurial value in working with the data that you’ve got, Steve says, rather than waiting for a perfect data set. Embrace being a work in progress.Travel Counsellors is incredibly adept at using technology and data in service of its strategic competitive advantage. In the case of Travel Counsellors, that advantage comes from the value of ongoing human relationships, so it’s a fascinating alchemy.Learn more about Steve: https://www.linkedin.com/in/steve-byrne-a8451b23/Learn about Travel Counsellors: https://www.travelcounsellors.co.uk/our-story/Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
Our guests today are business partners and academic collaborators: Peter Fader and Daniel McCarthy. Their entrepreneurial and academic pursuits are intertwined in interesting ways. On the entrepreneurial side, they co-founded a predictive analytics firm, called Zodiac, that they sold to Nike in 2018, and now they are co-founders and directors of Theta, a predictive customer value analytics company. Theta’s work draws heavily on customer lifetime value, along with an output of Peter and Dan’s academic collaboration – a research-driven framework called Customer-Based Corporate Valuation. That co-invention is just a part of their academic work. Peter is the Frances and Pei-Yuan Chia professor at The Wharton School of the University of Pennsylvania, where he pursues his academic expertise and passion for using behavioral data to forecast customer behavior. Peter is also considered to be one of the world’s top experts in customer lifetime value – and that’s in addition to the corporate valuation model he developed with Dan. Peter works with companies in many industries, ranging from gaming to pharma, has published widely, including three books.Daniel McCarthy is an Assistant Professor of Marketing at Emory University's Goizueta School of Business. Dan’s a statistician by training and his research applies leading-edge statistical methodology to marketing problems. Particular areas of interest include customer lifetime value, data privacy, and how marketing and finance intersect. Like Peter, he publishes widely in both academic and business publications.The common ground between OCX Cognition and these two thinkers is a conviction that customers are a key driving force in value creation for businesses. In this conversation, the two collaborators and partners talk about the ins and outs of how customers drive value and what businesses should do to maximize that value. Some areas to listen for:Fundamentally, customers are assets that can be measured and managed, so a true embrace of customer behavioral data and the insights it offers will lead to a sea change for companies.Finding the set of metrics that provide a clear, fair valuation of companies is critical, but complicated, with a balance between internally and externally disclosed measures.Customer acquisition gets a lot of hype, but it might not be entirely good.B2B companies often feel like B2C companies are the cool kids on the block, but in many ways B2B companies are ahead of the curve. Theta Equity Partners https://thetaclv.com Find Peter Fader on LinkedInLearn more about his work at Wharton https://marketing.wharton.upenn.edu/profile/faderp/ Find Daniel McCarthy on LinkedInLearn more about his work at Emory https://goizueta.emory.edu/faculty/profiles/daniel-mccarthyFind out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
When the customer experience is poor, should the sales team take the blame for failing to consider the long-term health of customer relationships? Not so fast, says our guest Bill Binch, a sales leader at some of the tech industries fast-growing companies. It’s a bit more complicated than that, and if you’re a leader whose role include ensuring that customers either get value from your solution or deliver value to your bottom line, you’ll learn a lot from this episode.Bill is an operating partner at Battery, an investment firm focused on tech companies, where he coaches and advises sales leadership in portfolio companies. Before that, he was chief revenue officer at Pendo, where he helped drive the annual recurring revenue to $100M in just three years. He spent nine years at Marketo, leading sales as the company grew from its infancy to its IPO, and beyond. And he held sales leadership roles at other heavy hitters like Oracle, PeopleSoft, and BEA.So it was great to get Bill talking about how sales fits into the organization, its role in thinking about the ideal customer profile, and its use of metrics. A few of Bill’s points to listen for:Sales should be invested in renewals as well as new business, because that’s critical for company success, so it’s critical to align incentives and work hard to cross the internal gaps that can form in companies.Collaboration between sales and other departments -- like marketing, customer experience, or customer success -- rests on a shared understanding of the metrics and markers of progress, so clarity is key.As a sales leader and an executive, more is better when it comes to data about the customer experience, and the urgency around frequent updates only grows in an era of big data.Find Bill on LinkedIn: https://www.linkedin.com/in/bill-binch-302a4a2/Learn more about Bill’s role at Battery: https://www.battery.com/people/bill-binch/ Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
In any successful industry, leaders must answer an existential question: How do you evolve and adapt as the world around you changes? Our guest David Tudehope, CEO of Australia’s Macquarie Telecom Group, looks to customers to as the ultimate guide. In doing so, he takes a very unusual approach in an industry known for its poor customer experience. David explained that Macquarie Telecom Group strives to be what he calls “un-telco.” The company was founded just as the telecommunications market in Australia was deregulating, with the purpose of making a difference to underserved, overcharged telco markets in Australia. David has led Macquarie through some notable successes. Over the past decade, for example, the company’s market capitalization has grown 10 times, driven by its profitability increasing by 400%. Constant innovation has been key to this growth – Macquarie has entered new business areas and rebalanced its profit mix from 80% telco and 20% cloud a decade ago to the inverse proportion today. Macquarie relies on three key ingredients for its success: Customer experience through complete transparency, continuous product and service innovation, and an executive team that harnesses innovation.A few of David’s points to listen for:In David’s industry, as in others, companies that don’t innovate may not be around in a decade. He’s very clear that the customer perspective is the most effective guide for innovation. A lot of companies pay lip-service to “the customer experience,” but Macquarie has been concrete and focused about using its superior customer experience as a differentiator.David credits measurement key to aligning the company around the customer experience – he regrets not moving faster to get clear, company-wide metrics in place to drive the delivery of customer experience. Learn more about David: https://www.linkedin.com/in/david-tudehope-3217b214/Macquarie Telecom Group: https://macquarietelecomgroup.com/Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
How do you know you’re getting value from your investments in innovation? Our guest Michael Schrage got that same urgent question from his students and clients: In response, he’s become laser focused on measurement, and his thinking has deep applicability to CX.Michael is a researcher at MIT’s Media Lab and a Visiting Fellow in the Imperial College Department of Innovation and Entrepreneurship. He has served as an advisor on innovation issues and investments to major firms, including Google, Intel, IBM, Procter & Gamble, and many more. He’s also advised on cyberconflict and cybersecurity issues. He has presented workshops on design experimentation and innovation risk, and has published widely.After the conversation recording, Michael said that he retracted his use of the word “idiot” in favor of another i-word, “inertia.” Companies get comfortable or stuck with the way things are, he said, and they fail to evolve. But companies that have evolved have one thing in common: They treat their data as an asset. During this provocative conversation, Michael raised a number of issues that deserve careful consideration. For example:Do we think customer experience actually has a causal connection to growth and retention? If so, he says, we need to do a better job of defining exactly what the customer experience is, and therefore how to measure it and act on our insights.It’s a vexing but persistent problem that most organizations are not clear about which department owns customer lifetime value. Listen for thoughts on how to decide.Is it possible to definitively determine how companies should balance customer lifetime value and churn? To Michael, that debate is crucial, because it helps guide investment and focus.What’s the most important advance related to KPIs? Michael’s answer: KPI data sets are increasingly being used to train machine learning algorithms, making predictive analytics possible. About Michael Schrage: https://ide.mit.edu/people/michael-schrage/LinkedIn: https://www.linkedin.com/in/mschrage/“Leading with Next-Generation Performance Indicators,” with co-author David Kiron in the MIT Sloan Management Review: https://sloanreview.mit.edu/projects/leading-with-next-generation-key-performance-indicators/Find out how predictive CX analytics can help your business: https://ocxcognition.com/Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/ Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3